Omaha daily bee., 1903-03-18
COMMERCIAL AND FINANCIAL
Heavy Corn Sales Again Reduce May Prices
on Board Of Trade
OTHER GRAINS BREAK AWAY AND SOAR
weakness in Corn and Low Yard
Prices Send Provisions T~umbiins,
which, in spite of Partial
Rally, Close weak.

CHICAGO, March 1.-THE corn pit was
the scene Of anothe, heavy selling move
ment today and a further decline OF oyer a
cent was made in the May delivery, but a
rally occurred the latter part OF the Gay
and final figures were on h0Ac. May
wheat closed %mikc higher ana oats were
I'm IsdLc. Provisions closed weak, with
the May products from l5c to SlHsc lover
There was only a moderate trade IN
the market held up remarkably well. May
opened a shade to. h4Ac higher at t5ts9 &C.
the early hrmness being Que TO the reia,
railing TO respond to the weakness here
Yesterday. The sharp break In corn, now
ever, resulted in a break TO IS1sc, out with
little FOR sale on the decline, ana with
shorts covering freely and some scattered
buying for long account the market quickly
ranied and a nrm tone prevailed through
oIt the remainder OF the session. Brad
streets report showing A decrease In the
visible supply of 2,S0,VO bushels, togetneI
with a better export demand, added to the
strength, and May sold up to Hh49LfSsc.
The close was %mAzc higher at '4h4c;
Ciearances OF wheat and flour were equal
10 a07 on bushels. Primary receipts were
tS3. 100 bushels, against 266,0O a year ago.
Minneapolis and Duluth reported receipts
OF 2A5 cars, which, with local receipts or
"a cars, made total receipts Tor the three
points go cars, against o99 last week and
435 a year ago.
and the range in May was FULLY lie at the
start. The heavy liquidation started yes
terday was continued when tradlns pesan
IuudA dANA " A"A ~
was thrown on the market the first half
hour, which resulted in May selling pm TO
437kc after opening unchanged to lie lower
at 441kd45Ihc. A fairly good demand deVel-
oped under 44c, bat the persistent heavy
selling prevented any recovery until late
in the day, when a rally occurred and an
advance to 44Mc was made. The close was
&a&c lower at 4iha4419c. Local receipts
we're $50 cars, with one of contract grade.
The feature in trading in oats was the
active demand for the July option, which
served to check the selling movement In
NAV started early on the weakness in corn,
and with offerings rather light a better
tone developed. A good cash demand and
moderate receipts-227 ~cars-aided in the
upturn. The close was firm and BdAc
higher at 4%d3419c for May, after selling
between 33&c and 34hq34Rc.
There was a severe decline In PROVISIONS
and at one time II was extremely difficult
for brokers to execute selling orders. the
weakness in corn, together with a decline
in prices at the yards, started the selling
and II was not long until everyone seemed
anxious to secure profits or to stop losses,
and the price or all PRODUCTS took a sud-
den drop. t the lower level there was
some covering by shorts, which caused a
slight rally, but the close was weak. May
pork closed, Csc lower at $17.521a, after selll-
Ing between Sl742R and $l7.S2l2; May lard
was down 15c at $3.50, after ranging be-
tween $9.67k and 1895; ribs were down 3715c
at $3.50, after selling between $9.419 and
Estimated receipts for tomorrow: Wheat,
10 cars; corn, l4s cars; oats, 100 cars; hogs,
5000 head.
The leading futures ranged as follows: