Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-06-13
OarIot Receipts.
CHICAGO GRAIN AND PROVISIONS
Features of the Trading and Closing
Prices on Board of Trade.

CHICAGO. June 12.-Reports OF damage
by drouth to fall-sown wheat in missouri,
TO the local market today. At the close the
July option was up h49sc Corn showed
gain OF I've. Oats were up 9su1hc. Pro-
visions we're unchanged to 7laq1Oc lower.
Strength In the wheat market developed
soon after the opening. Al the start senti-
ment in the pit was bearish because OF the
lined in yesterdays session. Another rea-
son for the weak undertone was the abb
senoe of rain in the northwest. During the
first few minutes of trading there was free
selling by commission houses and pit trad
ers. but offerings were eagerly taken by
number of the leading bulls. Before the end
OF the first hour sentiment had become
bullIsh and throughout the remainder OF
the session the bears were In full retreat.
The change In sentiment was due chiefly to
numerous reports OF damage by dry
weather to the wheat crops OF Kansas.
KsSsss c eHa camed that the crdps in tSat
section had deteriorated 80 per cent during
the last week and that the grain was rip
ening prematurely. a decrease OF 100000
bu. in the worlds visible supply, as shown
by Bradstreets' acted as a further stimuli
liant to buyers. Trading was active the
a moderate reaction on protit-taking, but
the market closed firm July opened nc
to $saAe lower at sac to SS1sqSe, sold
Final quotations were S4lsc. Clearances of
wheat and -four were equal to 101532 bu.
Primary receipts were 271,0O0 bu., compared
one year ago. Minneapolis, Duluth and
Chicago reported receipts of POS cars against
- cars last week and 202 cars year ago
Trading in the corn pit was active and
after moderate weakness early in the day
the market developed decided strength
Drouth conditions in Kansas, Missouri and
Nebraska formed the basis of the urgent
demand which chara cterized trading dur
ing the last half Of the session. Cash
houses reported light acceptances from the
country and this helped TO advance prices
on the local market. The early weakness
was due to lower cables and to the easier
tone OF wheat. Prices receded somewhat
from the highest point on profit-taking. but
opened isdAc to Nc to a lower at 5lM6
6thc. advanced to 53%GAc and closed at
5Shdhc. Local receipts were 4l6 cars
with lel Of contract grade.
Strength OF wheat and corn had a bullish
effect on the oats market. The government
report was. construed as being quite favor
able to the bulls and reports of damage
by drouth also inspired considerable buying
OF an investment character. Trading in the
pit was active all day. The market closed
lower at sI$ TO e7kc. sold up to SSac and
cars.
Notwithstanding higher prices for Hve
hogs and the sharp advance In grain prices
the provisions market was inclined 10 weak
ness. liberal receipts OF live hogs at west
"rn packing centers inspired selling by nit
traders and the market lacked any definite
support, local packers taking little part in
trading. Al the close September pork was
unchanged at SECS September lard was on
5n7hc at S9.0Od9 02ik, September ribs were
1ik6DlOc lower at $3.50.
Estimated receipts for tomorrow: Wheat.
cars; corn, 2B cars; oats, 1872 cars; hogs,
$4,000 head.
The leading futures ranged as follows: