Omaha daily bee., 1896-08-30
COMMERCIAL AND FINANCIAL
Wheat Was Staggered by the Small Ad.
vance at Liverpool.
THAT CEREAL STARTED QUITE EASY
Apprehension over the Unfnvornbl'
Bank Statement from New York
Quite n Factor In the
Trading.

CHICAGO. Aug 29.-Wheat was stag
gered by the small advance at Liverpool
following yesterdays bulge here and In
spite of the generally bullish nature of
the news of the day December closed at a
loss of a full 5sc. Corn and oats and pro-
visions were in the main heavy all day,
but showed very little price changes at
the close.
Wheat started easier than 1t closed yes
terday. December opened at from GOIac to
G02sc Fridays latest trading having been
at from GOAc to 6O7sC The decline was
partly due to the meager response of the
foreign markets to the substantial advance
made here on the day before. Liverpool
only met the 11ac per bu. bulge here by a
rise of hd per GENITAL. except for wheat
ON the spot, which was I'D per GENITAL
higher. The weather in the northwest was
favorable for the completion of the spring
wheat harvest and prominent elevator
manager was reported as saying that ow-
ing to the threshing returns in South Da-
kota showing better yields than expected
his previous estimate of 300OO0O0 bu. for
that state would have to be raised The
local crowd was also evidently apprehen,- hen
sive of the. effect of an ,unfavorable bank
statement from New York, and prices We're
pounded down to 6Ohc The bank state,
ment was received and was fully as bad
as anticipated but its effect had already
been discounted and no further decline fol
lowed. Chicago receipts were 22S cars, only
were all spring wheat none of the red
winter grading high enough for delivery on
contracts. Minneapolis and Duluth received
Coz cars against 732 cars a year ago. Ar
gentne shipments for the week were "a,
600 bu. Near the close It was reported that
the total wheat taken here for export was
100000 bu. At the same time Duluth re
ported 800, 900 bu. sold there for export and
St Louis wired that $4,000 bu. of No. 2
hard winter wheat had been dis
posed of at that point to export
ers,, The clearances from the At
lantic ports for twenty-four hours in
wheat and flour were equal TO 100000 bu.
While the traders We're discussing the eN-
port business a few of the heavy operators
market and succeeded in getting this price
down a point, at which the wheat was de
llvered TO them. December. which on the
heavy export trade had recovered from
60Ac to 605sc to G0&c, broke on the attack
to soc and closed at 6Ohc.
fluenced by the weaker tone in wheat and
by the favorable weather for maturity of
heavy and change in prices was, confined
opened &c lower at 2OAc, touched 205sc and
Business in oats, generally speaking, was
rather quiet. The feeling had a suspicion
of firmness early, but the range of prices
was very narrow and at the close the tone
was easier. September opened unchanged
at from 16isc to Ice, sold at from 161scc. to
16hc and closed with sellers at 16kc The
bulk of the business was In the way of
Only moderate business in provisions
was reported, chiefly in the way of trans
ferring contracts. Offerings were somewhat
limited and the demand was moderate. The
feeling throughout the session was heavy
in sympathy with the corn market. Clos
ing prices however, showed but little
change: September pork closed unchanged
at S562R, September lard. unchanged at
$685. September ribs, Sc lower, at $500
Estimated receipts for Monday: Wheat
go cars; corn, $50 cars; oats, 4lS cars; hogs,
%, 900 head.
The leading futures ranged as follows: