Omaha daily bee., 1896-05-10
COMMERCIAL AND FINANCIAL
Wheat Was Firmer on Report of Bug
Damage,
THERE WAS AGooO TRADE IN THAT CEREAL
Fluctuations Covered Over One Cen;
Range, Though the Feeling De-
NcIopcd Was Stronger Dur
ing Early Hours.

CHICAGO, May 9.-Wheat was firmer to-
day on reports of chinch bugs in Illinois,
Hessian flies in Indiana and conflicting re-
ports from the other wheat states july
closed at 63Ac, or i2c above yesterday. Corn
and oats also came in for an advance on
account of unfavorable weather. Provisions
alone sulked and declined to join the adj
vance.
There was a good trade and active mar
ket in wheat, fluctuations covering a 1lsc
range. The feeling developed was consid-
erably stronger during the early hours, and
higher prices ruled, after which there was
a moderate reaction, and the close was
steady at from iRc to asc advance. The
early strength was due chiefly to bug
stories from Indiana. reports of damage
coming from that section due to the Hes
sian fly, and, as the advices came from the
same parties who were the frst TO for-
ward the damage last year, the same had
n good deal Of effect and Offset the other
bear news at hand. There was a good ac-
tive buying by prominent operators and
offerings for awhile were small. Exports
for the week made a better showing. The
small Argentine shipments also had a like
effect on the market. The Ohio report
made the condition 90 per cent. against 81
per cent a month ago. outside markets
were higher. Among the bear influences
at hand were the rains in Texas and Kan
sas, where moisture was badly needed, and
the Michigan state report was quite favor
able. Gables, too, were Ad lower, reflect
ing yesterdays decline on this side. There
was but little rain in the northwest and
receipts in that section were as liberal as
the same week a year ago. The weather
forecast had a weakening effect and caused
prices to recede some.
There was a good general trade in the
corn market, ranging active within a 1i9c
range. The feeling developed was stronger
and higher prices ruled cary in the day,
after which an easier tone was manifested,
but the close was steady at from sc to kc
advance. There was a good demand from
shorts from the start and some of the
leading sellers of yesterday were the most
active buyers today. The selling was scat
tered, but a good share of the same was
for country account. The strength came
chiefly from the action of wheat.
There was a good trade in oats, shorts
bought literally and there was also a fair
number of outside buying orders, which
were, 1t was said, due to fears of damage
to the crop by bugs. Offerings early were
light and it required but little buying to
advance prices 1c. On the bulge offering
closed with a net gain of lAc. Trading was
entirely in July and September.
Prices in provisions had a farther decline
today, July pork, which closed yesterday
at $3.50, declining to $762I2 and closing at
$40. Lard was even more conspicu5usly
weak, July getting as low as $4.60 and clos
ing at $i.62la. July ribs, which closed on
the day before at SALTY, left off today a,
$4.071A.
Estimated receipts for Monday are:
Wheat, 10 cars; corn. 15 cars: oats, l45 cars;
hogs, $1,000 head.
The leading futures ranged us follows:
Artiplpa O,an Hi1h T,v CI,,,