Omaha daily bee., 1896-09-05
COMMERCIAL AND FINANCIAL
Gables Are Against the Prominent Feature
Of Wheat.
HELP TO BREAK THE PRICE OF DECEMBER
Failure of the Light Frost In the
Northwest to Nip the Grain In
the Fields One Of the
Weakening Factors.
IELP TO BREAK THE PRICE OF DECEMBER

CHICAGO Sept 4.-Cables were again the
prominent feature of wheat. They were
distinct disappointment and helped materi-
ally to break the price of December 1sc
below yesterdays close Corn broke sc,
closing at the lowest point ever recorded
for futures. oats declined hc and proVl-
sions from 2lac to lOc.
wheat in the fields was not nipped by
freezing temperature last night. as had
been generally expected. This eliminated,
wheat was expected to be strengthening
factor and December which closed yester-
day at from SOC to 591sc, opened with sellers
at from 5S7sc down to 5SaIc. In about an
hour from the opening 1t was selling for
moment at 5S}sc. Besides the failure of
the frost there was disappointment at the
mere steadiness of prices at Liverpool,
where an advance was looked for commen-
surate with that experienced here yester-
day The northwestern receipts were also
preston prevailed that as soon as freight
traffic Is renewed on the northwestern
would pour in and there was some tax
of 0C0 cars Monday. The stocks of the
northwest will show an enormous increase
this week, Duluth adding S5O,OgO bu to her
stocks, while Minneapolis will decrease only
100000 bu. week ago these points de-
creased something like l,25O 900, bu. This
was naturally discouraging and had the
effect due to it. About II o'clock December
was selling at 5SAc. The extremity of the
%
and a temporary reaction set in: Decem-
Der rose quickly from 5SAc to 5Sssc. The
recovery was ascribed to the taking of
100000 bu. of spring wheat for export and
the generally firm tone of the foreign ad-
vices. Great tirmnesS In the New York
stock market was also an element in Gre
ating the better feeling. The fear of heavy
receipts I'm the northwest in the near flu
ture and large Montana bank failure
were che latest influences, and under them
the price declined again to from 5SAc to
5S3sc, these being the closing figures.
Corn was rather heavy. partly because
principally from the nonappearance of frost
predicted for last night. Business was only
moderate. December opened about hC
lower, at 2i9sc, tiuctuated within n sc mar
gin and closed easy at 2i3sC, the lowest
point ever reached for futures.
oats were slow and weak, September
suffering the most, as there was active
liquidation in that month. but May was
also heavy. The decline in wheat and the
weakness in corn were potent factors. May
opened sc lower, at from 1SAc to 1880,
and declined to from 1Sl&c to 1S9sc closing
easy at lS9sc.
Provisions We're heavy and lower, start
Ing weak and failing to get over 1t, though
there was a slight reaction during the
last hour. Packers made liberal offerings
but the demand was too limited to abb
sorb them and decline was the result
January pork closed 10c lower at So. 10, Jan
uary lard l5c lower at $3.62Is, and January
ribs 212c lower at from $3.32h to S3.35.
Estimated receipts for Saturday: Wheat,
go cars corn, 7O5 cars; oats. 400 cars; hogs,
$1,000 head.
The leading futures ranged as follows: