Omaha daily bee., 1905-08-02
ls4. futures closed steady; September. .s
CHICAGO GRAIN A7D Provisions
Features of the Trading and Closing
prIcca on nnnrh OF Trade.


CHICAGO, Aug l.-Omcial denial of ssrl-
Gus damage from black rust caused a weak
finish In the wheat market here today. At
down Hqlc. Corn Is up nc. oats show a
gain Of AaAc. Provisions are practically
unchanged.
oped evidence Of lack OF strength tn wheat
prices at the start the opening quotations
on September being unchanged TO nc lower
at SjAc 60 SJasc Sentiment however, soon
became bullish and prices made a quick
rally. An Official forecast OF rain tonight IN
Minnesota and the Dakotas started active
covering by shorts Numerous reports from
private sources were received from the
spring wheat district, but advices regarding
damage by rust were decidedly Contradic-
tory. Some Of the reports claimed that the
crop would be OF exceptionally good quality.
Other reports asserted that great damage
had already been done by the blight Dur
/ ing the first half OF the session offerings
were light. As result the prices Of Sep
tcmber advanced TO s6ibc. Later there was
lSet during the last hour becoming exceed
| ingly weak. The principal cause for the
weather bureau at Washington relating to
| spring sown wheat. Commenting on the
condition OF the crop. The report said:
Spring wheat harvest is In progress In
| Nebraska, Iowa and in southern portions of
| South Dakota and Minnesota. This crop
has made favorable progress, no rust dam
| fields in South Dakota where smut and
! blight are prevalent to some extent"
| Inc publishing OF this OthCial estimate
! seemed 70 allay all fears for the safety OF
| the wheat crop I'm the northern states
| Heavy proflt-takinE following resulted In a
J sharp break in prices, September dropping
| visible supply helped to increase bearish
| sentiment. The market closed extremely
I weak with prices practically at the lowest
! point Of the day. Final quotations on Sep
: tember were at S47SGS4hc. Clearances OF
! wheat and -four were equal to Ill, 00C
| bu. The worlds visible supply, as shown
| by Bradstreet's increased 2,2J0OO0 bu. Pri.
mary receipts were l,176,0O0 bu compared
! with 72s GOO bu a year ago. Minneapolis
Duluth and Chicago reported receipts oi
us cars against $50 cars last week and
4S cars year ago.
| Sentiment in the corn market was bullisl
| the greater part OF the session. Under ac
| tive support from bull leaders prices mad,
q substantial advance during the first par
or the day, but later part OF the grain wa!
lost on selling induced by the break IL
/ wheat. One of the main bullish influences
was the extremely light acceptanCes o
bids sent out by cash houses. Anothe
factor was an estimate OF small local re
cetpts for tomorrow. The market coset
firm with prices considerably above yester
days final quotations. September opene,
sc 70 h4&c higher at &c to 52lsc sold vi
to 52Bc and closed at 52Isa52Lc Local re
ceipts were 2e5 cars with 51 of contrac
grade
Strength of corn impaired firm tone t
the oats market. Shorts were active buy
ers September opened a shade higher a
Z'Sc sold up to 27Ac and closed at 275sc
Local receipts were S2s cars.
Provisions were steady as q result of
The market received fair support fror
packers. At the close September pork wa
up 21lo at S8.47h Lard was shade highe
at N85qI SI13 Ribs were up 21hc at $Sl5
Estimated receipts for tomorrow: Wheat
, %, ,00Q head.
The leading futures ranged as follows: