I've not tried to make a cane but I have done a little steam bending.  Finding non-kiln dried wood definitely helps.  Kiln drying locks the lignin and makes it stiffer and more difficult to bend.   You also want very straight grain.  Any grain that runs diagonally at the bend point is likely to split. You may want to rive the wood rather than cut it as it will follow the grain and you will get less chance of splitting was as you bend it.  

A picture of what you want to make might help.  

--Nathan, TX. Hire the lazy man. He may not do as much work but that's because he will find a better way.