Omaha daily bee., 1896-11-21
COMMERCIAL AND FINANCIAL
Wheat Decidedly Sluggish and Closes Very
Much Lower.
LIVERPOOL GIVES TONE At THE OPENING
Reports of Rain in India Cause
Something of Furry, but
Later Indications Result
In a Reaction.

CHICAGO. Nov. 2O.-Wheat was decidedly
sluggish today and closed about lssc lower.
Most OF the decline was due to the weak
LIVERPOOL opening, and though later news
was Of an encouraging character, the mar
ket refused 10 respond. Other markets
showed some independence, corn closing itc
lower oats shade higher and provisions
unchanged to 2izc higher.
Liverpool again gave the tone to the be-
ginning Of the wheat market here. 1t
sent quotations from lizd to 2iad per Genital
lower than the previous days closing prices.
SO strong was the desire to sell at the
commencement and so cowed and so
cautious at the same time were intending
buyers that December had to be offered
at 76c. as against '7isc yesterday, before
buyers could be found. To add to the
opening bearishness the receipts at Mime
apolis and Duluth had risen from 9l9 car
loads. compared with 454 carloads a week
ago. and s6S carloads the corresponding day
OF the year before. Some OF the European
news was quite bulish Paris reported un-
favorable weather and stated that France
would be an importer before another crop,
and Liverpool confirmed the reports OF dam
age by locusts to the Argentine crop. After
the price had recovered about lc from the
opening prices. there was another slump be-
cause OF a New York telegram. saying
light rains had fallen in Bombay. 1t was
aGterward said. however, that the rain In
India had not fallen where II would help
wheat GROWING lne bcSt improvement IN
this market followed the estimate by a
local statisticlan that the visible supply for
the week was likely TO show a decrease
Monday OF 100000 bu. and possibly 1850 40
bu. The increase the corresponding week
Of last year was l,S95.pl0 bu The demand
for cash wheat was good and came from
both exporters and home millcrs. Early in
the forenoon sales OF 1900 bu. We're made
--Hnd 5000 bu. of that was No. hard
winter. for export. After a recovery to
TIC, the market began to tend downward
again. The continental markets sent much
lower quotations at the close. and that
newed in its fun force here the very bear
tsh feeling, which had been temporarily
overcome Finally about half an hour
from the close, December broke to 75i9c.
There was very little recovery. December
closing weak at from 75i-c TO I5zsc
Corn opened weak under the influence of
the big drop in wheat, but the decline with
which the market commenced brought in
SO many who had previously sold short to
take advantage Of the chance to buy that
the price soon rose again. The improved
tone OF the cash market aided materially
in sustaining prices. May started i.- lCver
At 26ltc. II rose to 2G2lc, then declined to
from 26iSc to 26l4c closing steady at from
oats opened weak and &c lower than
yesterdays closing prices. Later on in
the session the feeling was firm and prices
advanced. but fell back again toward the
finish. and the gain at the close OF the ses-
sion was small. The only influence the mar
ket submitted to came through sympathy
with wheat May opened a. from 2iasc to
2lizc sold at 2lAc. advanced to 217sc, and
closed STEADY at ZllgC.
The opening In provisions was seemingly
influenced by the weak start in the wheat
market, but after the hog products had
risen with the subsequent forenoon's reCov-
cry in wheat they did not again go below
yesterdays figures, although wheat became
so much weaker than at first. Only n fair
business was transacted. January pork
closed unchanged at $40 January lard gi.c
higher, at SSH 10 $3.50: Jauutry ribs closed
unchanged at S3SQ
Estimated receipts for Saturday; Wheat
10 cars; corn. AIS cars; oats, 80 cars; hogs
1900 head.
The leading futures ranged as follows: