Omaha daily bee., 1894-03-04
COMMERCIAL AND FINANCIAL
Wheat Was Strong at the Start but
Weakened and Closed Lower.
VERY MODERATE BUSINESS IN CORN
Provisions Opened strong and Higher for
Pork and Ribs and Steady and I'm
changed for ~Lard-Stocks
and Bonds.

CHICAGO, March 3.-Wheat was strong
at the start, but weakened and closed at
hc lower for May. The prospects of a
cold wave caused buying at the opening.
but 1t was met by free sales. This and
larger northwestern receipts, easier cables
and the mild and balmy weather, with a
continuation of the selling, caused a nc
decline, May closing at the bottom. May
corn is &c lower, and May oats &c lower,
but provisions refused to share in the weak.
ness of the grain markets and closed higher
all around.
May wheat, which closed yesterday at Coo
bid, started at 6OAo on the prospects of a
cold wave, but after some active trading
for a few minutes, it started on a decline
which lasted during the first hour and had
by that time worked away &c from the
opening, $3.50 becoming current for a mo-
ment or two before any noteworthy rally
occurred. The very liberal exports of the
week, amounting to 2,972,000 blu. in wheat,
and Hour from both coasts, did not have any
more than a very transitory effect upon the
wheat market at the opening. The weather
Is OF the most promising character what
ever 1t may have in store for the future and
the foreign markets still withhold encourage
ment to shippers. Liverpool was quoted
quiet at Ad decline in the price of futures.
Inc northwestern receipts were from a bull
point discouragingly liberal. Minneapo-
lis reported 26S cars and Duluth 81, or 1862
in all. A year ago these two places re-
ported 3S4 cars. Chicago received only 46
cars compared with POI last year. New
YORK wired that foreigners were sellers Of
wheat there at the opening and here
Schwartz-Dupee and other private houses
were loaded with selling orders from the
outside and swamped the people in unload
ing them, who were provided with orders
TO BUY. w. r. Linn let go freely and
among the local crowd the decline which
followed a slight frmness at the opening
was called "a Linn" Trading was lively
for half an hour. After recovering to 9
on a little buying there was a return of
weakness and on the next slump there were
plenty OF seliers at 591sc, with some transac-
onS at l-ioc less. The closing quotation
was at the bottom figures of the day.
IN corn there was a very moderate trade.
no hose"orthy transactions occurring out
siue OF a tairly good buying by one of the
houses which sold quite freely on yester-
days advance An easier feeling prevailed
ana prices ruled over. The receipts TODAY
were large ana the weather fine and liberal
arrivals are expected Monday and Tuesday.
Which, together with the action of wheat,
caused prices to recede from nc to Mc from
the opening prices. The market afterward
rallied a fraction and closed with Nav but
&c from the bottom.
There was an easier feeling in oats, with
d Hiouerale trade. Inc decline of from hc
to Ac was due mainly to sympathy with
wheat and corn, as the pressure to sell was
not large. May closed at the bottom figures
of the day.
Provisions opened strong and higher for
pork and ribs and steady and unchanged for
lard on much lighter receipts of hogs at the
yards than estimated. The weakness devel-
oped in wheat caused a decline, with the
gain at the opening lost. 1t was also con-
tributed to on some selling of pork by one of
the packing institutions and the unloading
of some long stuff by Helmholz. A steady
feeling was subsequently afforded the mar
ket, particularly in the interest of the pack
ing company, but there was very little trad
ing. A little easiness was developed shortly
before the end of the session, the market
closing steady, however, for pork and lard
and firm for ribs. Compared with last night,
May pork is 21ac higher, May lard 21ac
higher and May ribs 71ac higher.
Estimated receipts for Monday: Wheat,
so cars; corn, $50 cars; oats, $50 cars; hogs,
20, 900 head.
The leading futures ranged as follows: