Omaha daily bee., 1897-06-05
COMMERCIAL AND FINANCIAL
Wheat Closes for the Day with a Net
Drop Of One Cent.
LIVERPOOL LEADS BULLS ASTRAY
Decline Then brings Reaction Here,
but There Are other Bear Fea-
turcs-Corn Lower and
Oats Weak.

CHICAGO, June 4.-wheat today closed at
a decline of 1c per bu. Liverpool, which yes
terday was the guiding star OF the bulls,
was responsible for the disaster which over
took them today, that market showing a
break as much as the advance the day be-
fore. Other markets were weak. corn de-
clining ha9sc; oats, Aq%c, and provi-
sions 5dl5c.
Wheat began, as soon as business started,
TO rid itself of the effect that the Liverpool
advance of the day before had upon 1t. Tina
market reported a decline of Id per cent be-
fore trading commenced here. The result
was that July, which closed yesterday at
6sssc, was sold at the opening today at
G7hsW675sc, and declined in the first twenty
minutes trading to 67MQ67Ac, although n
few sales were made Immediately after the
opening at G7Ad61Bc. A Nc reaction fol-
lowed the drop TO 6IlsG67hc, then business
died away. and the price once more de,
clined to its previous low point. Liverpool
meantime continued to. decline, and about
the period of the second drop here, to 67hc,
the English market quotation for July was
1Ad lower than at the close of the day be-
fore. Another bearish feature of the early
news was the Ohio June crop report, which
Improvement during May. as against a con-
a taRimg o. Of y 600 &C 'P bn. q No. 9 9 spring ss = as at fr r@e
&c to 2Ac premium over July late yesterday
afternoon and early this forenoon was the
talk about. outside of the threadbare sta
tistics of the trade. Chicago receipts were
q cars, and the quantity inspected out was
1900 hu. Minneapolis and Duluth receipts
were 34 cars, compared with 4O7 a week ago,
and 45 the corresponding day of last year.
Elevator stocks at Minneapolis and Duluth
are estimated to have decreased 100000 bu.,
compared with 1,563,C00 blu. decrease at the
two places the week before. Chicago stocks
are expected to show a decrease for the week
OF 100000 bu,, and the visible supply a de-
crease of 100000 bu. Atlantic port clear
ances of wheat and flour were equal to
$4,000 blu. Liverpool closed with a drop of
I'd for the day. The market here declined
to &C on that. No increase of business fol-
lowed the additional decline. however, and
the market ruled exceedingly dull to the
end. The closing price was 67Isc bid.
Corn was easy, with a fair amount Of
trading, the decline being due to large re-
ceipts, freer country offerings, and sym
patty with the break in wheat. Short SELL
amounted to $50 cars. July opened Ad!sc
higher at PAS 1t declined to 23Ac, and
recovered to 231sm2ic bid, where It closed.
oats were dull and weak, chiefly through
sympathy with corn, although good weather,
large receipts and the extreme narrowness
Rlying was scattered. Local receipts were
42l cars. July opened hc lower at lSisc, de-
clined to 17Ac and closed at 11%I1Sc.
The provisions market was merely a repe-
tition of early days in the week, about the
only feature being its dullness. Cudahys
We're sellers, as were commission houses.
A larger run Of hogs than expected and the
break In coarse grains were the causes of the
decline. At the close July pork was 15c
lower, at $40; July lard DC lower, at So. 52la,
and July ribs &c lower, at 81. 22Is.
Estimated receipts Saturday: Wheat, Is
cars; corn, SS5 cars; oats. 400 cars; hogs,
5000 head.
Leading futures range as follows: