Omaha daily bee., 1903-06-03
COMMERCIAL AND FINANCIAL
Trading Active in All Markets at Chicago
Exchange
WHEAT, CORN AND OATS RULE HIGHER
Big Deals I'm wheat Contaminated,
Due TO the Reported DestruO-
tiOn of Thousands of
Acres by Floods.

CHICAGO, June 2.-Trading was active in
all markets today and higher prices ruled,
higher and oats up NC while provisions
were strong, the September products clos
ing from TIC TO S2izc higher.
There was a big trade in wheat and prices
were decidedly strong, due to the storms
and floods in the west and southwest and
the reported destruction Of thousands Of
acres OF grain, together with the advance
at st. Louis and New York yesterday, being
responsible for the excitement at the start
IL was an entirely weather market, the
foreign markets. with the exception Of the
London exchange, being closed, and al
though there was an advance at London,
the statistics were bearish, worlds ship
ments being large and there being an in
crease in the amount on passage of $50, 900
at 74Ac to 751tdD77IIc, but under heavy liqui-
dation by local longs, the price eased on
somewhat, July declining to HeSc. The
decrease in the visible supply of 3,453,OOO bu.
and on the strength at St Louis, the mar
ket again advanced, July selling up to
755tc. and the strength was well maintained,
although there were some recessions toward
the close. Final figures on July were UP
1%c over Fridays close at 751s975kc. Clear
ances of wheat and -four were equal to
l,S1s,O0O bu. Primary receipts were 100000
sno,,s ep asS ann buintS repogted reeeipts of $50
cars, which, with local receipts Of So cars,
none of contract grade, made total receipts
for the three points of SIS cars, against 2SS
last week and 15S a year ago.
The opening In corn was even more ex-
cited than that IN wheat, Tor the reason
that IL was the general supposition that
the prevailing floods would undoubtedly
cause the most damage TO the corn crop,
and there was a wild scramble among
shorts to get to cover. AS result of their
endeavors prices showed a wide variation,
a difference of 1c being noticed in bids at
the same time in different parts of the pit.
July was up 11kd21kc at the start, opening
at 47d4Sc, with very little for sale, although
there was considerable realizing later. Of
ferings were well taken, however, and
prices were well maintained. After selling
between 467kc and 4sc, July. closed 21sd2Ac
higher at 47md41&c. Local receipts were
1,243 cars, with 103 of contract grade.
oats ruled strong in sympathy with other
grains and on the unfaVorable weather
conditions. Shorts and outsiders were good
buyers while there was some realizing on
the advance which caused a slight decline.
Closing prices were strong, with July Ac
higher at 34&c, after ranging between 3419c
and 35Mc. Local receipts were 1859 cars.
Provisions shared in the general upturn.
The strength in the grain markets the
closing of the packing plants at Kansas
City and the advance of 10615c I'm the price
of hogs stimulated a good demand for all
products. There was good huving by out
siders and shorts and a further advance
was made, but later in the day realizing
sales caused a partial loss of the early gain.
The close was strong, with September pork
321kc higher at $17.021h. lard 15c advanced at
SS.a5 and ribs up TIC at $9.27h.
Estimated receipts for tomorrow: Wheat,
IS cars; corn, 1H cars; oats, 800 cars; hogs,
$1,000 head
The leading futures ranged as follows: