Omaha daily bee., 1896-10-24
COMMERCIAL AND FINANCIAL
Wheat Receivers from the Panicky Feeling
Of Thursday.
OPENS At QUITE A MATERIAL ADVANCE
Early AdvIccs from New York Espe-
cIaIIy strong, Indicating an Ex-
cess of Continental Orders
90. Over Offerings.

CHICAGO. Oct. 23.-wheat today re-
covered from the panlckS condition which
characterized It yesterday, and closed
with the comfortable advance of &C. I'm
expcctedly strong cables and advices that
the money market was easing were the
main causes Of the strength. Corn and
oats were proportionatcly strong, closing
1c up and &c higher, respectively. Prov-
sions advanced from sc to l2hc.
Wheat opened at quite a material advance
from the closing figures of yesterday. This
was no surprise to many or the experienced
spectators, who expected n natural re-
action after such an unnatural decline, as
one trader puts It, The tone of the earlier
cables did not show the weakness that was
anticipated. Liverpool reported n decline
of 1lsd per GENITAL, or the equivalent of
1%c per bu. for futures of red American
wheat at the opening. and shortly after
ward cable news of later time of day
reported n recovery of more than one-half
of the decline 1t began with. This caused
the early strength, December which at
the end OF Tuesdays session was bring
ing only 7Olsc. was wanted as soon as the
trading commenced at from 12c TO i2sc;
buyers. But enough selling orders were
put on the market mark to cause an immediate
New York were strong. That city re-
ported that last nights cabled offers OF
wheat and flour to the other side had been
orders for futures were largely in excess
of orders to sell As these reports came In
tnGps was shaP in gPTn to to prices which
tons of this kind were frequent all day
The discount on spot wheat at Minneapolis
compared with the price for December, had
again wldened to &c per bu., indicating con-
tinued stringency in the money market. In
the local market, however, No spring sold
at from SC to &c discount, against from Sc
TO lOe yesterday. and indicated some cas-
ing oil the money stringency. Atlantic port
q nY.
rather quite insignahcanb being only 2l,0O0
bu; Flour however was. shipped to the
and -four export together equal to $50 OOO
bu There was sharp, nervous squirt dur
cables and reported export business and De
cemher sold to 7SlAc. The closing was firm
Corn shared in the strength which ruled
In wheat and was also helped by the some
what higher cables. Even before the upward
trend became apparent there was dispo-
sition on the part of sh orts to cover and
this this demand was a strengthening factor
The export demand was also encouraglngiy
liberal but the full advance. was not sus-
tained. May corn opened &c higher, at CSC
2Ssc. and closed firm at from 2SiSc 10 ,t gsse
h,'s'Issy oats were ere. firm and higher, and good
OF wheat was mainly responsible for the
strength there was considerable independ-
ence to the market The opening strength
soon started buying. The strength was
well malntained to the end. May opened
eaacd on 10 2iikc and closed steady nj
2iNc. "
The provision market was Arm and not
having n wheat market to contend with ns
Il had yesterday, the prices advanced
There was also noticeable absence OF
offerings, but on the other hand demand
was limited, and n narrow range of prices
resulted. At the close. January pork was
i29c higher at .SS7rA January lard Sc
higher. at $45. january ribs. sc higher. AT
S3S2k. "
Estimated receipts Saturday: Wheat. $50
~ nnNa
20 0c0 head. N99'
The leading futures ranged as follows: