Omaha daily bee., 1896-12-13
COMMERCIAL AND FINANCIAL
Wheat Starts Strong and Remains So
Closing at an Advance.
LIVERPOOL SUPPLIES THE STRENGTH
Corn Gets No Material BcncHt from
the Rise in wheat Except for
Few Minutes ut
the start.

CHICAGO. Dec. i2.-Whcat started strong
today and remained so, closing at an ad.
vance OF lc per bushcl. Foreign news, cs.
pccially that relating to the poor Argentine
crop outlook was the leading motive for ulC
advance. Corn and oats We're easier, declin-
ing about lsc each. Provisions made small
advances
In wheat Liverpool again supplied the
motive power which kept the market mov-
ing. The Liverpool cablcgram reported the
market firm there at I'D advance. Private
cablegrams used language a trihc more en-
phatic about the advances The market here
started strong on that information. and eX-
Cept for a little hesitation Immediately fol-
lowing the opening advance II remained
strong throughout the session Northwest
receipts, though small compared with last
years figures, were uncomfortably large in
view of the oft-repeated reports that good
share of the crop had already been moved.
Minneapolis and Duluth reported that 55l
cars and Chicago 81 cars were received, a
total of Cos cars, against 5lG last week and
l,122 last year. This caused the slight hesi-
tation at the start but was soon lost sight
OF in the flood of bull news. Argentine pros
poets were gloomy as ever according to the
cablegrams and the shipments from that
country apparently bore this out. only "a =
COZ bu. were shipped to the continent from
Argentine and not a bushel to the United
Kingdom The exports from both coasts
for the week We're heavy, DOB 00) bu. in
wheat and four-sad to be the largest
known for many years. This was encour-
aging to holders as at that rate our sur
plus would be practically exhausted before
April and several months of scarcity would
follow. Armour delivered from 500 600 bu.
to 100000 bu. of wheat on December con-
tracts, but the market absorbed it all read
lily. May opened at from S0lsC to S0igc, com
pared with from 79AC to 7glSC at the close
yesterday. 1t was principally at SOi.c that
lirst transactions took place. but it found
too many sellers around that for a minute
4 al n tI41 lt.at1
from that and went up to SO7sc, sticking
close to that price up to the end of the SeS-
sion. 1t did not again 80 below from SOiac
to SOSsc and was bringing from SOatC to
SO'sc as the market closed. On the curb a
at Sic.
Corn got no benefit from the rise in wheat
except for a few minutes at the start 1t
opened for May at 26c, sold at 26SC, SagEed
to from 2534c to 257sc and rested worth 257sc,
or l-l6c less than on the day before. The
amount of business done in the pit alto
for one commission house and this fact
was the chief source of weakness
Quite good business was transacted in
der conflicting influences of liberal receipts
and good cash market. Shorts took ad-
vantage of the situation and under liberal
offerings the market declined, but rallied
with wheat and a good demand which
sprang up later. May opened about Nc
lower at from 25lsc to 257sc declined to from
2O4c to 2O3sc and finished at 2OieC bid.
Provisions were duh but firm The i'm
provemcnt at the opening was aSCribed to
the light run of hogs Packers generally
sold, but the market held up well and closed
pork closed about 7i2c higher at $7s2R; May
lard about 2i2c higher at &G7la; May ribs
&c higher at $i.02la.
Estimated receipts Monday: Wheat. 81
cars; corn, 2i5 cars; oats, 45O cars; hogs,
10000 head
The leading futures ranged as follows: