Omaha daily bee., 1903-05-09
COMMERCIAL AND FINANCIAL
Grain Weakness Disappears and Board Of
Trade Prices Tend Upward.
PROVISIONS ARE UNCHANGED TO LOWER
Leading wheat Long Having Cleared
out Many Million Bushels Re-
mains Quiet and Allows
Values TO Soar.

CHICAGO, May s.-A reversal Of yester-
days weakness was manifested In the
wheat pit today and prices had a strong
upward tendency. July closing Au5sc
higher. July corn was up sc, with oats
hahc higher, while provisions were I'M
changed to 121zGl5c lower.
There was a good trade i'm wheat and the
principal feature I'm the situation was the
absence Of selling by the chief long, who
July yesterday when he disposed of some
thing like 100000 bushels. Opening prices
were firm on comparatively steady cables
Liverpool being OFF only a trihe, notwtth-
standing the severe break here yesterday,
and July was q shade to 1sdhc higher, at
n%d71hc. Selling by scalpers on the i'm
proved weather conditions resulted in an
easier tone soon after the opening and July
sold Off to INC, but a good scattered De
brought about a rally. There were re-
newed reports Of damage from the chinch
bug to the growing crop in the southwest
Minneapolis added impetus to the upward
movement Of prices, as did active covering
by shorts, and prices continued to improve.
the closing figures being at the top notch
OF the day. July closed %qhc higher at
INC. and May was 1c higher at 7S1hc;
Ciearances OF wheat and flour were equal
20 1915 ~ bu. Primary receipts were 20I,-
800 bu, against 24S. 200 bu. a year ago
shown by Bradstreets were. equal to 1902
00 bu. Minneapolis and Duluth reported
receipts Of 81 cars, with local receipts OF
81 cars. two Of contract grade, made
total receipts for the two points of 15 cars,
against i95 cars last week and 2O4 cars a
Corn was strong together with part Of
the day. but the volume Of trading was
rather light. Offerings were small early In
the session, but little liquidation set In dur
ing the latter half which resulted in a
slightly easier tone, but the market soon
rallied again. Firm cables. a fair cash de-
mand combined with reports confirming
the lateness of the crop were the chief bull
factors. After selling between 1870
445bc and 45c, July closed &C higher at
447kc. Local receipts were 2S cars, ten
Of contract grade.
The strength in wheat was a strengthen
ing influence in oats. but the main support
came from shorts who covered sales made
yesterday. There was fair trade through
out the day, the May option being espe-
cially active and strong. Receipts were
small. but showed some improvement In
grading. Closing prices were firm, with
JULY nc higher at 32hd32kc. after rang
ing between 317sc and 32hc. Local receipts
were 1S cars.
Trading in provisions was rather quiet
with offerings about equal 10 the demand.
Opening prices were steady on the hog
situation and buying by the packers caused
a little better feeling. but the advance was
not maintained. the close being easier. with
July pork unchanged, ut N7.15. July lard
was on 12h015c at 800, and ribs were
down 21kc at 1896.
Estimated receipts for tomorrow: Wheat,
IS cars: corn, 260 cars; oats, l5 cars; hogs,
1900 head.
The leading futures ranged as follows: