Omaha daily bee., 1909-05-08

Features OF the Trading and CLOSING
Prices ON Board Of Trade.

CHICAGO, May 7.-Wheat traders, who
had grown accustomed to the pyrotechnics
q the May and July options, were treated
20 a novelty today when the deferred flu
tpres, September and December, advanced
publication OF the bullish government crop
report. The market closed strong at net
gains OF th@Sa4c compared with yester-
days final quotations. Corn closed easy,
oats steady and provisions firm.
II was a day of Wild and Irregular price
fluctuations in the wheat pit, with trading
also %erratic, business during the first half
OF the session being rather limited, while
extreme activity marked the final hour,
One notable feature which stood out prom
ipently above all others was the relative
Strength of the distant futures, particularly
the December option. which closed at a
net gain for the day of SIC, while the
May and July deliveries showed gains of
ohly &c each. Trading today c~entered
around the government crop report and as
Z was not made public until noon Chicago
ssmel the period prior 70 that hour was
evere slump In the price of ths July de-
Merry Just before the appearance of the
weak, with prices a shade higher to 1c
kwer, compared with the previous close.
the heaviness at the start being chiefly
sue to an unexpected decline OF St4lltd
vanCed on an active demand for the de-
terred futures based mainly on the con-
tinued absence of rain In Kansas and on
the official forecast of small likelihood
for showers In that state today or tomor-
row. Toward the middle of the day the
July delivery slumped violently, owing Ia
general selling, much of which was of a
stop-loss character, prompted to a large
extent by a 2-cent break i'm corn. July
dropped to 81 1874, after having sold az
$l,11is earlier In the day. The more de.
ferred futures declined more than &c from
the previous high point Of the season, sell
Sng off to s1.O4h and S1.O31e for September
$and December respectively. Following the
publication of the government report July
advanced to Sl,l7&, September, H.OS$ and
December, $1.07Ss. According to the official
statistics the condition of winter wheat
during April appreciated less than l pei
ment than had been anticipated. The re-
port also showed a reduction of ~ per cent
OF the total acreage seeded last fall. Sen
timent continued extremely bullish the re-
mainder OF the day and the market closed
strong, with July at N.lTAQl.l1r; Septem-
Der at N.0shQl.OS% and December at st.O71e
During the day May sold between 81. 274,
and 81 70 and closed at the top.
Corn advanced to new high records fol-
the season early in the day. MAY selling uI
brought out liberal realizing sales which
resulted in a sharp reaction, May d~ropping
J2n71Ac and July to 6SAc. The market
eiSsed about steady, although prices were
40 10 AGAc below yesterdays final fig,
ures, May being at 2&c and July at 6915c
early In the session, when May sold al
$50 and July at 52lsc. The market CLOSED
steady, with prices unchanged TO Lc lower
compared with the previous close. Fina.
figures on May were at 5Sxc and on July
51%96lhc.
Provisions were easy early In the day
bat later became quiet strong. Prices a
y the close were 2txaSc to l2hc higher thar
yesterdays close.
The leading futures ranged as follows: