Omaha daily bee., 1896-10-14
COMMERCIAL AND FINANCIAL
Wheat Reaches the Best Quotation os the
Year
DECEMBER TOUCHES SEVENTY CENTS
That Cereal starts with jump OF
One and Onc-Fourth Cents
Per Bu~hcl at
Chicago.

CHICAGO. oct. l3.-whcat today sold at
the best price OF the year; December touch
Ing I07kc at ono time. TO the surprising
strength shown by Tie Liverpool market
was due most of the advance. Heavy rcaliz-
ing created n reaction later. but the De
cember option scored Il lisc advance; corn
and oats both shared In the prosperity, and
advanced sc each.
Provisions were the only commodities to
decline, pork lard and ribs showing rcduc-
tlons OF from 2iRc to Sc.
Wheat started with jump of about iAc
Per bu. much to the disgust OF many OF the
bulls. who had sold their iong wheat yes
terday. The sudden advance was principally
because Of the strength with which the
Liverpool market started. Both wheat and
corn In Loverpoo opened at Id advance
upon yesterdays closing prices This rise
indicated Independent reasons for higher
prices which was partially explained by
Cablcgram, saying 1t was due 10 spccula-
ton. To the news of yesterday, too, was
due part of the strength. With an aCknowl-
edged shrinkage In our own crop oil nearly
GO 900 600 hu. from last year, an admitted
shrlnkage n Russia of 5IOOOOlO Du., ana
over 2u,0uO.O0O bu. in Argentine, with the
news of disaster 10 the wheat crops of India
and Australia there is no longer room for
reasonable doubt that America Will bc
called upon for larger contributions than
usual 10 the worlds supply, with the ability
TO respond less than usual. The range ol
prices at the opening was wide one.
December sold AT from tVNsC 10 'uiSC. Dc-
livery was sparinEly made at the extremes.
but heavily at from IO5sC TO I03ic. The clos
Ing price yesterday was from Gsc to G9,sc.
The figures given marked almost tGe ehtlre
range of the forenoonS fluctuations, the
only exception being a dip to I0Ac. the
which set in after the opening splurgc. but
that was followed by second rise TO IOsc
before u o'clock. The principal bearlsh fac-
tor was again the heaviness of the do.
nestle receipts. Chicago got 3i7 cars and
Minneapolis and Duluth together, 4SS ears
corresponding day, of the year before:
Bradstrects visible supply statement
showed an increase in the worlds stochs OF
6S0S010 bu. This was heavier than expected
and caused temporary slight depression
In the market. The effect of this was dis
PEELED by the strength of the closing cables,
and encouraged by that strength there
were plenty of buyers on every soft spot.
The price OF December had numerous huc-
tuations between 702sc and 10Ac. and finally
rested Mt from 10hc to I0AC, or iAc rise for
the day. The reselling Of some CO,COo bu;
a slightly easier feeling.
Corn got a good send OFF from the
strength OF the Liverpool market, which
opened Id higher than It closed yester
day The first few minutes of tho session
showed rise of lc In the price of May.
but sellers became too numerous for such
n considerable and sudden advance to hold.
The advance in lake freights also helped
to address the advance. The undercurrcnt,
however was bulllsh all day. May opened
irregular and about ssc higher nt from 2N4c
TO 2S&c, advanced to 2S5sc and declined TO
2Slsc. where II closed.
oats opened firm, grew very strong and
advanced considerably in prices. For n
time the strength was held but when wheat
reacted oats did likewise, but only slightly,
and the market closed with but a portion
OF the advance lost Demand was very
good. shorts especially being active buyers.
May opened about &c higher at from posse
to 207sc. advanced to 2l&c. and closed
steady at 2lc.
Provisions opened with n strong buIlish
feeling, duo to the stronger hog market
and the tirmness developel In grain and
prices advanced rapidly. but enormous
offerings by packers and oX-English houses
caused decided reaction and the close
was at slightly lower prices. January
pork closed &c lower at $50. January lard
DC lower at A.6Ils. January ribs, 2Iac lower
at A.07R.
Estimated receipts Wednesday: Wheat
2lO cars; corn, S65 cars; oats, 800 cars; hogs
$4,000 head.
The leading futures ranged as follows: