Omaha daily bee., 1893-05-14
COMMERCIAL AND FINANCIAL
Wheat Market Yesterday Struggled with
Two Opposing Forces.
NO IMPROVEMENT IN WINTER WHEAT
Under These Conditions the Market Was
strong and n SHAH Higher at the
Opening and for a short
Time Thereafter.

CHICAGO, ILL.,, May 13.-Tho wheat market
today struggled with two opposing force. Tho
foreign news was bulish and put TN c price up
temporarily; the financial disturbance at
home had decidedly bcarish effect and pulled
IL down, In the end the nearby influence
proved the stronger and closed the market ut
from &c to &c decline from yesterdays clos
ing quotations. The more remote deliveries
OF corn were easier In sympathy with wheat,
but for May IL was firm, owing to the good
demand for spot stun Provisions were sub
jected to u mild raid and closed 29lic lower
for pork, 27Iac for lard and l5c for ribs.
Extreme drouth was reported in many large
and important areas in England ana the quo.
tations from there were higher and gave th7
color of truth to the dismal reports In the
country there was no Improvement noted In
the winter wheat and Prime telcgraphcd that
IN some of the most important states 1t had
refrigerated during the week. Under these
conditions the market was strong and shade
higher Mt the opening and for "A snort time
thereafter. But traders were not disposed TO
do much as IL was half holiday and outside
business was lighter than for some days Then
there came report OF some small failures in
New York and stocks began to break A Mil
waukcc dispatch said that run had begun on
operators to lose confidence. There was wild
rush TO get rid of long wheat and 1t did not
| tion and carry prices of. There was II slight
| reaction, but the market continued nervous
| and inclined To weakness.
AT the opening prices were advanced from
| Ac to &C, but later became weak and there
| was serious decline, with some fluctuations
! of &c for July and llac for September futures,
| then rallied slightly and the closing was s4c
! lower for July and &c lower for September
| than yesterday.
| In corn there was more doing than on ycstcr-
day. The feeling at the start quite firm,
| being u continuation of the sentiment prevail
ent ut the close of yesterdays session and first
trades were at about the same prices. Small
receipts and good cash demand, together
| with unfayOrable news from abroad were the
| strengthening factors The market held
| steady for awhile until wheat began to break
| and then acted in sympathy, selling Off &c, the
| financial situation having IA good deal to do
| with the easier feeling. Prices afterward raj
| lied from 4c to &C, and at the close had lost
| but from 14c to asc.
There was a moderate trade In oats and an
| easier feeling. Opening prices were at about
| the top and closing at the bottom and showed
| a net loss of from &c to asc. The weakness in
| wheat and the OF her unscttlng influences were
the chief causes for the decline.
The provision trade again suffered at the
| hands of the Cudahy yWright-Fuirbank com
bination There was enough raiding to cause
! selling on stoploss orders. On tho break there
was good buying of lard by brokers acting for
| the combination and there was partial rally
at the close.
Estimated receipts for Monday: Wheat, 165
| cars: corn, 1875 cars; oats, 200 cars; hogs
Ga 600 head.
The leading futures ranged as follows: