Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1905-07-06
Features of the trading ana Closing
pricea on Bonrd OF Trade.


CHICAGO, July 5.-An official report de-
clarlnB spring sOwn wheat TO be IN excel
rent ccnultlOu caused extreme weakness
m the wheat market here today. At the
close the september delivery was ueariy
4 cents below the highest ngures OIL the
uaS' o. L4-5sc down compares with satur-
Oals are Ola sc. PROVISIONS show a loss
OF loo to 3Uc.
NO signs OF weakness were in evidence
IA the wheat market at the opening On
the contrary sentiment was decideuly bull
ism, initial quotations on september beng
up ac to lssc at sOc to gl4.C. Ire market
was influenced Almost exclusively by the
SITUATION surrounding spring sOwn wheat,
continued rains IN the northwest being
construed as altogether untavoraDle tOr
the proper development OIL the crop. A
number OF bcarlsn factors were apparently
ignored altogether by the majority OF trad
tIs. Lower cables ana nUerdI increase
In world s shipments constituted the prlh-
Clpal elements OF a bearisn nature. For
lhe nrst lew minutes OF trading shorts and
small longs VINO saw considerable pIonts
In sight sold in sufficient volume to cause
a loss OF most OF the opening gain. Later
the bulls were further encouraged to with
hold offerings by reports made by two
prominent crop experts asserting that
spring wheat had been seriously damaged
by rust. Toward the middle OF a session
crop report given out by the weather
bureau at washington almost hatly con-
tradicting the damage reports caused a Sc
we're slump in prices. According to the
government report the condition OF spring
soWn wheat Is excellent, little damage
comparatively having been done by rust
Under general profit taking the September
option dropped to SIAGSi2sc. Sentiment
continued bearish the remainder of the day,
the market closing weak with September
at S1l5qS1nc. ClearanCes of wheat and
! Hour were equal to 126,0O0 bushels. The
amount on passage increased l,64S 700 BUSH
els and the visible supply decreased ll14,OJC
bushels. Primary receipts were $4,000 BUSH
| els compared with 304, 900 bushels a year
ago Minneapolis, Duluth and Chicago re-
! ported receipts of 4O5 cars against ~ cars
| last week and $50 cars year ago.
Notwithstanding number of bearish in
| fiuences the corn market was firm through
out the entire session. Shorts were active
| buyers. Higher prices at Liverpool formed
/ the main bulish factor. Primary receipts
liberal Increase and crop reports were bear
/ ish. The market closed firm in spite OF
| the weakness of wheat September opened
| Ac higher at 547sc, sold between 5412c and
! 5512C and closed at 55q55hc Local receipts
were ,6S5 cars, with 661 of contract grade
! Fluctuations in wheat were the con
! in the day the market was quite firm, but
| following the break in wheat prices re-
acted considerably, Bearsh reports con
| corning the new crop furnished addtuona
! cause for profit taking late in the ses
sion. September opened hc to sc higher
| at 3l#o to SIC, sold between 3l&sc and Ma
and closed at 3l1zc Local receipts were
| 460 cars.
| Provisions we're weak under moderat,
| selling of lard by packers An increase, u
! stocks of lard for the month was an i'm
portant factor bearing on the weakness
Another factor was a decline of DC in TN
price of live hogs. At the close Septembe
pork was off 20c at $l2S215, Lard wal
down 15c at S7.32h. Ribs were l5ql71Rc lowe
at $3.50 -
Estimated receipts for tomorrow: Wheat
43 cars; corn, 1856 cars; oats, 237 cars; hogs
The leading futures range as follows: