Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1896-11-28
COMMERCIAL AND FINANCIAL
Home and Foreign Influences Assisted il
Advancing Wheat Prices.
CORN AND PROVISIONS WERE ALSO UP
benefit of the Recent Rains In Indln
'~. One of the strengthening Fcn-
lures of the Days Mnr-
kct.

CHICAGO, Nov. 27-Home and foreign
influences shared equally in advancing
the price OF wheat today to point liac
above the closing price of Wednesday,
Wheat absorbed most OF the attention,
other markets being comparatively neg
lcctcd. Corn advanced isc. oats closed I'M
changed and provisions advanced from ''Rc
to ljc.
Two items of news i'm the foreign press
dispatches received here yesterday caused
the selling out OF some long wheat at the
opening. One of these had reference to
the benefit to the crops in India from the
breaking of the drouth and the other to
a decline of Id yesterday in the price of
wheat at Liverpool The last named
piece Of information was probably the
result of the first. May wheat here, in
consequence of the two together, was Of
fercd at the start from S3C down to a2'sc,
as compared with sac ut the close
Wednesday. The sellers offerings at those
prices were instantly absorbed and the
price was soon advanced to Ssc. The
market was extremely nervous Tor Il Whlle
after that quick addition of 14c from
the lowest point at the opening and 1t
settled back to S3iac. From the latter tgure
there was a renewal Of the buying III
rOrc, which again stirred up bulllSh
frenzy in the pit, and before It once more
Calmcd down for n while the May iuture
had sold at Shc, ana all mat Wlthin forty
minutes of the opening. But in that forty
minutes most of the history of today )
wheat market was made. The trading
nftcr that uulctcd down. although the
market exhibited consistent strength. one
of the strong features Of the market and
one which will probably continue to be
strengthening factor was the smallness
of the northwestern receipts, which mutcly
testified to the truth of the statements
that much of the crop had already been
moved. Chicago received thirty-iiYe car
loads compared with 1868 cars a year ago.
. Minneapolis and Duluth got 5ji cars since
tnfIn lEN Al n *
day and Friday of last week. and com
pared with 1Ill cars on the corresponding
two days of the year before. Liverpool
reported at the close an advance since
yesterday of lId In futures and I'D in No.
] northern on the spot That disposed
effoCtually of the Id reduction there yes
tCrdaV which worried some of the traders
at the opening here. May, got to Sjc
about half an hour from the close and was
worth S33C as the session closed.
Trading in corn was neglected to a large
extent The advance in wheat and the
excitement in rye gave corn an under
tone of ilrmncss without creating demand
enough to raise the price very much. The
opening price was at 2ll4C for May Il shade
under Wednesdays close It did not get
above 2Il4c and from 215sc to 2Ii2c was
the closing quotation.
In oats there was very little disposition
fined to n very narrow range and for the
most part ruled a shade tirmCC, principally
through sympathy with wheat. May
opened unchanged at 22Nc sold at 224c
with sellers at 22lsC.
Provisions were firm all day, though on
rather limited market The ruling in
fucncoS were falling off In western hog
receipts and the firm local market. This
was responsible FOR the higher opening
and though liberal offerings caused a tenn
porary decline prices soon turned upward
and closed firm. May pork closed 15c
higher nt $50 May lard 7lac higher at
from $L27Ia to $3.50, May ribs about lOc
higher at from AOila to $40.
Estimated receipts for Saturday: Wheat
IS cars corn, $50 cars; oats. $50 cars; hogs
10000 head
The leading futures ranged as follows: