Omaha daily bee., 1895-06-02
COMMERCIAL AND FINANCIAL
Wheat Opened at One Cent Advance, but
Soon Weakened.
CROP DAMAGE IN THE MIDDLE STATES
Reports Received Indicating that wheat In
Illinois, Indiana and Missouri Is
In the Worst Possible
Condition.

CHICAGO. June 1.-Wheat showed an ad-
vance OF 1kc around the opening today,
compared with yesterdays final sales, but
lost &c OF 1t and closed 7sc above Fridays
close. Corn huctuated within a range of
7sc and closed with gain of lsc. Oats
are sc higher and pork 12l5c lower.
The most extraordinary weather ever
known at this season of the year gave fur
ther evidence of its recent eccentricities be-
tween the close of yesterdays session and
the opening this morning; hotter than
ever "drier than face powder" and
continuation of such conditions being pre-
dicted for another forty-eight hours at
least. News of any other description than
that referring to the vagares of the eli
mate and their damaging effect upon the
crop was very little regarded. The total
failure of the wheat crop" was reported
again and again from some of the best
wheat raising counties of Illinois, Indiana
and Missouri, and from Ohio and Mchi-
gan, the reports were only a few degrees
less alarming That the market did not
was owing to the fact that the majority
of traders refused to believe it, The price
OF July at the opening was anywhere from
than it closed yesterday. 1t kept within a
range OF from IS9sc to f9lc during the
greater part of the session, with quick re-
coVeries every time ii got below 79c. The
prediction of the signal service bureau is
for fair and hot weather tonight and Sun
udy IN INDIANA, ILLINOIS, upper ana lower
Michigan, Wisconsin, Missouri, Iowa. Kan
sas, Nebraska and Minnesota. With that
before them, the traders, although unbe-
care to so home short. The following mat
tiers, however, prevented. the believers in
crop damage of an unusual destructiveness
from becoming too enthusiastic on that ac-
count: The visible supply is not expected
to show more than from 1,O0)G)0 to 1850, 600
not very reliable, the Weeks clearances t C of
wheat and -four from both coasts amounted
to 2,2l6OO bu.. compared with 2S5i,OOO bu.
the previous week, and the shipment from
Chicago for the week was sol ,S69 bu., the
noticeable feature of which is that only
1900 bu: of it was for points east of To-
!edo. OF the red winter wheat now in the
visible supply only 100000 bu. is at points
outside of Chicago and only 100000 bu. is
the sellers today. They do not appear to
be moved by the prospect of the red winter
wheat in their elevators being at a pre-
valung so highly. The failure of the red
winter wheat crop will certainly bring
about the change in prospective values sug
gested If 1t approaches the extent now esti-
mated. The price remains very steady and
firm in the last forty-five minutes at
around 79hc, and that was the value at the
The corn market was firmer and little
higher, on account of the hot dry weather
predicted for the next forty y-eight hours,
and the strength was not disturbed by any
estimated receipts, as for days back. The
of the day and closing trades were at the
bottom of the range and at &c above the
latest quotations of the day before. July
opened at 53c and closed worth 525sc
only fair business was transacted in
oats. Orders were not. very urgent and
sellers did not seem over anxious TO dis
pose of stuff firm feeling existed and
values at the close were from &c to &c
higher. The strength due mainly to
sympathy with wheat and corn.
The receipts of hogs We're liberal, the
qrality poor and prices lower, with a large
supply estimated for the coming week
Pork was most affected. showing a loss of
3Oc at one time, but closed only 121Rc lower
than yesterday. Lard and ribs were steady
and show losses of sc and Tee respectively
Estimate for Monday: Wheat 6S cars;
head .,.r
Freghts: Vessel room in good demand
and firm at lac for corn and 11sc for oats
to Buffalo
The leading futures ranged as follows.