Omaha daily bee., 1896-09-02
COMMERCIAL AND FINANCIAL
Wheat Broke Nearly Two Cents on Big
Receipts.
CORR WAS HEAVY AND LOWER ALL DAY
quite II steady Feeling Was Mani
Tested by Oats. Although Prices
Were Slightly Lower
Mt the End.
HEAVY AND LOWER ALL DAY

CHICAGO, Sept. 1.-Enormous northwest
receipts and heavy exchanging of Dccem-
Der and September wheat by a prominent
elevator were responsible for a break of
1Ac in what today. Corn made a new low
record. May closing re lower; May oats
closed lsc lower. Final provisions prices
were 2Ac lower to 7iac higher.
The most influential condition In the
wheat pit at the opening was the very
heavy receipts in the northwest. Minneapo-
lis and Duluth received 1856 carloads, and
adding the SEA cars reported as having ar
rived yesterday, the total for the two days
amounted to $3.50. compared with 2,l60 ears
on the corresponding two days of the year
before. The deliveries in September con-
tracts previous to the opening were insig-
nificant, considering the amount of trad
ing there has been for months for that
delivery. But for such evidence that hold
ers had already arranged for money to
carry the elevator stocks to December. the
weakness, of the market would have been
intensified. As ii was. December wheat,
which opened with apparent firmness from
69,?sc to 5g4c, was before u o'clock strug-
self from going below soc. Thoman's crop
report doubtless added to the bearish feel
ing, insofar as IT the total crop
of winter and spring wheat at APO, CO0,O 900
bu., whereas previous estimates did not
exceed 10000, 600 blu. Another powerful in
weakness In December, was the heavy sell
ing OF Docember for a certain prominent
tltNilDT lTll anu buying Oh september lDr
the same account. Export clearanccs were
equal, In wheat and -four, to $4,000 bu.
Foreign markets were irregular. Paris be-
Ing steady and Berlin high, while Ant
werp and Liverpool were lower. The mar
ket continued to weaken during the last
hour. longs showing increased discourage
ment and short sellers more boldness. De-
cember declined to 5Sl2c, but reacted
slightly, closing weak at from 5Sl5c to 5Sc.
Corn was heavy and lower, Influenced by
weakness In wheat, the fine weather for
maturing the crop and the enormous yield
reported by Thoman-2, i50.0 900, 0OO bu. There
some short selling. New low records were
made, September selling at one time at
from 2OlSc to 2OAc, but steadying later.
May opened a shade lower at from 251sc to
211acc,, - 0'7''' anu CLOSED easy at
quite a steady feeling was manifested by
oats, although prices were slightly lower
at the end. Business was only fair. and in
small lots. The comparative strength was
brought about by Thonans' report of the
oats crop. He estimates the total yield at
7,5O,OOl,OOO bu., or 2O0,00 900 bu. less than
last. year, and, furthermore, claims that
as for the quality, he has never seen worse.
MAY opened unchanged at 19c. declined to
lSac, and closed steady at 1870.
PROVISIONS were fairly steady to, start
strong; Apparently there was less pressure
TO sell ana the offerings were ready ac-
cepted by local shorts. The deliveries on
september contracts were quite free ana
Gentered in strong hands, and this had a
ilttle influence in strengthening the mar
ket. Inc. closing prices showed but little
cnaLEe; January pork closed unchanged at
from $50 to SO. 72E; January ribs, un-
changed. At So 45, September showing an ad-
vance OF Tlac.
Estimated receipts for tomorrow: Wheat. |
~ w. ca J loo corn: 40 cars; oats, 200 cars; |
The leading futures ranged as follows.