Omaha daily bee., 1905-06-01

Features of the Trading and Closing
Prices on Board of Trade.

CHICAGO. May 3l-Clear skies and
higher temperatures throughout the Inlteu
States caused weakness in the wheat mar
ket today. Final quotations were al the
lowest point of the day, with July down
lhdlac. In a runaway market May corn,
scantiiy offered advanced &c and closed
at 6Oc, the highest point OF the session;
July corn Is up Iad&sc, oats are on &c and
provisions are practically unchanged.
The wheat market was weak the ehtlIe
day. At the start July was on 1TaSsc 10
lq1hc at GNdS7xc The principal influence
contributing TO the initial decline was Sne
almost perfect weather conditions preNall,
ing over the entire wheat belt. Ohlclal
predictions for tomorrow were Tor talr
weather with rising temperature. Another
factor OF considerable Importance was
decline In the price of wheat at lANerpool
Pit traders were liberal sellers the greater
part Of the time Commission houses "epe were
the chief buyers Toward the end OF the
first hour the market experienced tempoI-
AIRY firmness as a result Of a sharp ADVANCE
In the price of May wheat at Minneapolis.
In Chicago the price of July advanced 70
SS3s4SS1zc. Sentiment soon became deCldeuIy
bearish again. The market closed at the
lowest point OF the day, with July at obsc;
Clearances OF wheat and flour were equal
TO "a 600 bu. worlds visible supply, as
shown BY Bradstreets, decreased o'oOOVyO
bu. Primary receipts 1.-TWO ddys) were
no 300 bu compared with 35l, 600 year ago:
Minneapolis, Duluth and Chicago reportoa
receipts Of 636 cars, against los last week
&c Corn m for May delivery closed at soc a bu.,
a gain OF exactly &C compared with Mon
DAYS final quotations. Inc BnhTp duNdilSe
was an Incident of the final chapter OF what
is generally believed to have Deen sue
cessful deal by several prominent traders,
who are said TO have had hand IN
squeezing" May shorts. From the start
there was a good demand for the May
option The buying was mostly by COM
mission houses and was apparently Tor the
account OF customers who were snort OF
MAY corn and who had until the lasl
minute hoped that they might get out COM
paratively easy. At the opening May was
up lc at SIC. Little corn was offered toI
sale until the price touched 55hc. Proht-
taking then caused a reaction TO SIC
Within the last few minutes shorts BID uI
| the price to 60c. The close was at the TOP
other options were affected by the strengtI
| of May. July opened unchanged 10 ~
| higher at 49Q49Ic sold up TO >49esc anc
| closed at 49Ad499sc. Local receipts were
| / ,O86 cars, with 607 of contract grade
| Largely In sympathy with the weakness
| of wheat the oats market was easier. Ih'
| volume OF trading was very small. Jul
| opened a shade to 5sc lower at oO4SC l'
| 36ss ssa3O1hc, sold between 30l4c and 3OlRc ant
| closed at 30hc. Local receipts were 2D cars
| Provisions were quiet and steady. BuSi
| ness in the pit was almost at stanostlIi
| AT the close July pork was UP ztsc
! Sl2.421z, lard was unchanged at N'2o an'
| ribs were up shade at S.221s.
| Estimated receipts for tomorrow Wheat
cars; corn. 495 cars; oats, l6s cars; hogs
| 29,OOO head. ,-,,-..
The leading futures ranged as folloWs'