Omaha daily bee., 1896-12-05
COMMERCIAL AND FINANCIAL
Wheat Closes Nearly Three Cents Lower
Than on Thursday.
FOREIGN CABLES QUITE DISAPPOINTING
Closing Adviccs from Abroad Gem
crnIiy Regarded ms of Much Sig
nificnncc TcchnicnIIy-Othcr
Cereals on the Decline.

CHICAGO, Dec. 4.-Wheat closed today
within a small fraction Of &c lower than at
the end OF yesterdays session The de-
Gins was due almost entirely to liquidation
and poor support. the statistical news not
warranting such a slump. Other markets
were weakened to a degree. Corn declined
Ac; oats about the same and provisions
from ~ to l5C.
In the first half-hour May wheat had
lost all 1t had gained ON the day before and
made quite "a tangible contribution to the
bears In addition to that. May which sod
at from S3},c to $3.50 at the close of ycs,er-
days session, opening at from S2fsc to S34c
today and sold down to S2lsc by 10 o'clock.
~ few minutes later, after a slight recovery
from S2lsc, 1t went down squarely to SIC.
During the beginning of the following hour
1t displayed some symptoms of recovery,
but at IL o'clock IL was once more strug-
Cling to keep above sec 1t weakened later
and the weakness was entirely unexpected,
considering the strength with which this
market closed yesterday. The opening l.iv-
crpool quotations Were quite Disappointing,
showing only a slight advance ana this was
partly responsible for the weak opening.
After that, the market shaped itself inde-
pendently. Statistical news was generally
of "A DulliSh character. Northwestern re-
ceipts, as has been usual of late, were very
light. Minneapolis and Duluth received i5g
cars as compared with 5ii last week and
VIC last year. chicago received ~ cars,
against 81 last week and 1876 last year. Beer
Dpnm estimated tndL Europe VIII want
752OOOO bu. per week until March i, and
after that 6,SOO,0OO bu. per week until the
close of the crop year. But this sort of
news had no effect. The shorts covered
so thoroughly yesterday that there was
little demand from that interest and with
the market bare of sensational features and
the trade apathctiC, holders got discour-
aged as soon as the price commenced to
waver and the llquidition was free and
urgent. Closing cables were of much sig
nihcance. Liverpool quoted spot No. !
northern spring Id higher, California No. l
LII nj "a. an iTN1s4 lnNNI
Some cash business for lake shipment was
reported from here near the close, the
amount being said to be about 100000 bu.
of wheat In the pit ana the market kept
going from bad to worse right up to the
end of the session, May getting down to
SO3sc about five minutes from the end and
Corn was slow and weak. Influenced by
the drop in wheat, the fair receipts and the
general dullness in speculation. The de
cline. however. was light compared with
the slump in wheat May opened &c lower
at from 2Gl4c to 26lsc and sold slowly down
10 from 26Isc to 26hC, which price 1t was
bringing at the close.
There was little life to the oats market.
With the little trading there was consisted
mainly of small lots, and chiefly among
scalpers. The tone was weak following the
lower at 2lBc, sold between 2l$ic and from
2l2c to 2S1Rc, closing easy At the latter
quotation.
Provisions were dull and weak. Two
factors initiated against prices, the weak
ness of grain and the lower yard prices.
Opening prices were at small declines and
were the highest of the session. At the
close May pork was l5c lower at S.921a; May
lard, 7iac lower, at SlO; May ribs about
lOc lower at 81.
Estimated receipts Saturday: Wheat 81
cars; corn $40 cars; oats, 300 cars; hogs,
The leading futures ranged as follows: