Omaha daily bee., 1905-08-02
ls4, futures closed steady; september. .s
CHICAGO GRAIN AND PROVISIONS
/ Features Of the Trading and Closing
Prices on Hoard of Trade

CHICAGO, Aug l.-Omcial denial Of ssri-
Gus damage from black rust caused weak
the close wheat for September delivery was
down Ndlc. Corn Is up sc oats show a
gain OF Aqasc. Provisions are practically
Generally clear weather northwest devel-
opod evidence Of lack OF strength in wheat
prices at the start the opening quotations
on September being unchanged 20 isc lower
~ Ehc 10 sac 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
a complete reversal Of sentiment the mar
ket during the last hour becoming exceed
ingly weak The principal cause for the
late weaknesses was report made by 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 I'm
Nebraska, Iowa and in southern portions OF
South Dakota and Minnesota. This crop
has made favorable progress, no rust dam
age being reported except from scattered
fields in South Dakota where smut and
o1Eht 4ba are RseyaIent to some SStent
~
seemed 70 allay all fears for the safety Of
the wheat crop. in the northern states
Heavy protit-taking following resulted in a
sharp break in prices, September dropping
20 ASc Liberal increase in the world $
visible supply helped to increase bearish
sentiment. The market closed extremely
weak with prices practically at the lowest
point Of the day. Final quotations on Sep
tember were at s47sdS41Ec. Clearances OF
wheat and -four were equal to III 900
bu. The world visible supply, as shown
by Bradstreets increased 2,2j9,0OO bu. Pri-
mary receipts were 1.175,0OO bu. compared
with 2S6O0 bu a year ago. Minneapolis,
Duluth and Chicago reported receipts OF
us cars against 669 cars last week and
4Z5 cars year ago.
Sentiment in the corn market was bullish
the greater part Of the session. Under ac-
tive support from bull leaders prices made
a substantial advance during the first part
| Of the day, but later part of the grain was
] lost on selling induced by the break in
wheat. One of the main bullish influences
was the extremely light acceptances OF
! bids sent out by cash houses. Another
| FACTOR was an estimate OF small local re-
ceipts Tor tomorrow. The market closed
| firm with prices considerably above yester-
days hnal quotations. September opened
| sc 70 hqSc higher at 52c to 52lsc sold up
/ to b2Bc and closed at b2lkd52i4c Local re-
ceipts were 2s5 cars with 81 of contract
Strength OF corn impaired a firm tone tc
| the oats market. Shorts were active buy.
ers. september opened a shade higher al
| Use, sold up to 27%c and closed at 275sc
| Local receipts were 32s cars.
| Provisions were steady as q result Of a
| I04l6c advance in the price of live hogs
| The market received fair support from
packers. At the close September pork was
| up z1to at SlS471z Lard was a shade higher
| at S.3oq737h. Ribs were up 2Ibc at Ss15
| Estimated receipts for tomorrow: Wheat
d dez cars corn l49 cars; oats, l42 cars; hogs
The leading futures ranged as follows:
|