Omaha daily bee., 1909-04-23
CarlsT Receipts.
Features of the Trading aud CIoaing
Prices on Board of Trade.

CHICAGO. April 2.-Further sensational
declines from &c to &c in the price of wheat
today marked what Is considered by many
traders as the windup of the famous bun
campaign engineered by James A, Patten
and q coterie of his followers. The market
closed at almost the bottom after Ju1y had
sold at sl.09S ard May at 81. 2Ost per 3bushel.
Corn. oats nd4proviSlons were affected by
the severe slutpp in wheat and closed weak.
Liqutdation was the order Of the day in
the wheat pit. From the clang OF the OPEN
ing bell to the finish long wheat was
dumped into the pit and the decline was
80 precipftateL I EtiI1eS The 81 commission
houses Were, considered fortunate IL they
succeeded In executing stop-loss orders
within " OF the limit. There were times
during the day during which covering, by
shorts2oEihy owners OF downward indem-
mites more than Offset the realizing sales,
but these were brief ssya rule Al the low
point OF, the day the July delivery recorded
a lossfo on SEf4q+Ac from Yesterdays final
quotations. the May option a drop OF
4ac, This was a break of sisc for July
compared With the. highest point touched
during the campaign which was just one
Week ago aud aSdeeliAe OF, SIC for May.
The egstwhile leader ct the bulls was pot
in evl4epcef pefsonaily I'm the pit. having
left the city YESTERDAY on a western trip.
Inc Fhtten house however. was Well rep
resented by brokers who u was claimed.
leading commission houses aiao was IN 40
s seimE s1sd 3assls tssfs ss,s & NJ, en- = gGgss i !
sggregating between $4,000 and 10000
bushels. Mearwhiie several things tended
70 contradict the theory advocated BY the
bulls of a scatcity OF wheat, The wheat
producing countries OF the southern heni-
sphere. which have heen listed as, being ek.
tremely short OF the cereal were COM
paratively heavy shippers during the last
week, according 10 semi-offictal estimates
MADE today; Atgsntia alone sent out
x,lSc,O0 bushels which 10 nearly 500000 hush
els more than was shipped the previous
week, while Australia, which had been Sc,
down as being completely exhausted OF
wheat, exported more than 10000 bushels.
Al the same time sdvices from ell sections
Of the winter wheat belt in this country
told of generally favorable conditions fol
the rapid growth OF the fall sown crop
Cables also were weak, the Liverpool. mar.
ket being off Id despite The moderate rally
here yesterday. The market opened veal
al net deelines of &sq1sc TO Inc, July being
July dropped to Sill, but rallied quickly
again about 1c. The advance, however
brought out fresh realizing sales, This pro,
oedure WAS repeated throughout the entir,
day, with the exception that on each breaI
prices dropped a little lower than on tn,
previous drive. At the bottom July SOLE
N.0l%.s Final quotations were 81. Gs7sdfI 10 fr
July and 1.2l for May, a net loss for IN,
day OF precisely &c for each option.
After advancing to q new high recor,
mark for the May delivery the corn mar
ket weakened in sympathy with the sever,
slump In wheat and closed at net losses o
sql1sc compared with the previous clos
ing. The highest point touched today b,
the May option was nc, which was reache'
soon after the opening. During the da,
May sold between 70sSo and nc and close,
at Dh@70Ac.
The break In wheat, a decline OF Lais
in the price OF the cash grain and NOR
favorable weather for farm work cause
heavy selling OF oats, which resulted 4
declines at the close ranging from hdiL
TO Acs compared with yesterdays final quo
tations. The May delivery ranged be
tween ooAc and $3.50 and closed at 56Q661k,
PROVISIONS weakened on selling based o
the declines in grain after the market ha
displayed moderate strength early In Ia
session AT the close prices were a shad
TO l71Sc lower.