Omaha daily bee., 1896-12-12
COMMERCIAL and FINANCIAL
Wheat Surprises It's Friends and Disappoints
It's Enemies
LIVERPOOL CABLES LEND STRENGTH
While Fair Business Was Trans
acted in Oats, There Was No
Such Interest Manifested ns
During the Past Two Days.

CHICAGO. Dec. 1i.--wheat surprised It's
friends today and disappointed It's enemies
by the decided strength IT displayed In the
face of most bcarish government crop
report. The iirmness of cables was per
haps the chief element of strength in caus-
ing an advance OF lisc in the May option.
Corn and oats showed the strength In
degree, advancing about &c each. Provi-
sions were weak and declined from 11ac
to ijc.
Wheat took It's opening strength from the
Liverpool cables. May, which closed weak
yesterday at 7sFsc opened today at from
7S1sc to 794c. and inside of an hour had
climbed up to 1873. Opening quotations
from Liverpool showed a decline of Ad,
but a later cable, also received before the
opening OF the session here, showed ed
recovery. Their general tone was decidedly
bullisn. one private cable from well known
Liverpool house remarking that the de-
cline had brought forward an active de-
mand and expressed the opinion that prices
q further advance bringing prices from I'D
higher for March to Id higher for May
than the closing prices of the day before
The Liverpool strength was said to be due
largely to bad reports of the Argentine
wheat crop. 1t was generally expected that
very depressing effect on values. 1t
showed that the crop sown last fall Is not
only . per cent greater In area than har-
vested this year, but the condition is nearly
perfect and indicates a yield fully lOO,WOOgO
bu greater Than eathered tniS gTaT & proNra
age suffer any impairment. But the trade
took the view that, considering all that the
plant mas got to encounter before the next
harvest, eight months hence, present con
-iitlons did not offer "A very safe basis for
future action. New York gave the best kind
OF confirmation to the improved tone of
the foreign markets by reporting a liberal
previous afternoons offers. The foreign
news was the principal but not the only
after the opening and which was mostly
would be much smaller after Monday. Re
ceipts at Minneapolis and Duluth today
year ago, and Chicago received IS cars.
against li2 cars last year. Exports or
wheat and -four from the Atantic All, III qo5 sea- ga
bu The closing public cables were rather
disappointing, inasmuch as although Liver
fornian wheat was Id lower and No l
northern I'D lower Continental markets
We're generally firm May rose to Sohc by
il o'clock and fluctuated Between that fig
ure and 79Ac during the greater part of
tne day, finally closing firm at from 79kc
Corn was excessively dull, although firm.
The rmness ne bSo, was rnGpaly M due sGSt to the the
fusion of that feeling from another days
receipts considerably smaller than yester-
and the narrowness of trading prevented
any material advance. May opened un-
changed at from 2524c to 257sc and rose to
2Gc, closing steady at from 257sc to 26c.
While n fair business was transacted In
oats. there was no such interest manifested
as yesterday and the day before. Prices
were confined to "A narrow range and closed
whore they did yesterday, being influenced
entirely by corn. May opened unchanged
at from posse to 2Olac, sold to from 2O2lc
to 2O7sc, declined to 209sc, and closed with
sellers at that price.
Provisions took the opposite course to
that of the day before and were duh and
weak today. Local spectators who had a
little profit in previous purchases were
among the sellers. The packers also sold
some, those of them whose chief business
is with the United Kingdom doing the most
of the selling. Heaviness increased near
the end and the closing prices were at or
about the lowest of the day. May pork
closed 15c lower at s7S5: May lard about
10c lower at from A.02h to $i.05; May ribs
about l0c lower at S.9T5.
81 cars; corn. 23O cars: oats. 4l0 cars hogs,
10000 head.