Omaha daily bee., 1897-02-27
COMMERCIAL AND FINANCIAL
Weak Gables and Lack Of Exports Force
Wheat Down a Fraction,
COLD WAVE SAVES A BAD BREAK
Corn and oats Decline n Small Frhc-
dion, but Provisions Hold Firm
and show n Slight Gain .
for the Day.

CHICAGO. Feb. 26.-The wheat pit was
the scene of a wrestling match between a
predicted cold wave on the one hand ana
weak cables and an almost total lack OF
export sales on the other. The bear rae
tors had the better of 1t, May closing at
&c decline after a decidedly nervous
session. Corn and oats were heavy and
closed about ac lower each. Provisions
were firm and advanced slightly.
Wheat held to its steady connection with
the Liverpool market, which, notwithstand-
ing the &c advance here yesterday, was
I'D lower this morning. Because of THIS
disappointing decline at Liverpool and in
spite of the reduction in consols and light
receipts OF wheat at Chicago and the north
west, May opened here at from 149sc TO Hhc,
as against 74Ac to 74H at the close yester-
day. The price wriggled and squirmed
every time 1t got to nc above the lower of
the opening prices. as 1t did two or three
times during the forenoon, and gave every
evidence of feeling uncomfortable when in
the neighborhood of yesterdays closing
rates. The first advance to 74I1sc was fol
lowed by a return to DISC. A slow rally
to T4hc ensued. This was Followed by sew
eral minor fluctuations, but by IL O'Clock
the price had slid off to 1880, or virtually
1c per bu. below the closing price OF the
day before. Most of the strength displayed
Louis, which market bought freely during
the morning and sent renewed reports Oh
ulIliBt u II CIOD III lHt iOl hNNot" S'oS
ing cables reported Liverpool Id lower for
the day and continental markets, with one
mnimportant exception. Were an lower,
wheat. here or at the seuboard, were the
reasons for the free selling which sue
ceeded every little bulge during the fore
noon. Chicago receipts were only thirteen
carloads, against siXty-two on the corre-
spending day of the year before, and MIN
neapolis and Duluth got only 100 cars, COM
pared with ass last year. The smallness Of
the Atlantic port clearances of wheat
1nents to the bulls, the total being equal
to only 173,000 Blu. The break in wheat
would have probably been greater had not
temperature to 10 degrees below zero. APP
prebensions as to the effect, Of this, coupled
with Beerbohm's estimate that the worlds
visible March l would ne. 36,OCO,OOO bu;
smaller than 1t was March 1, 1896, created
a good demand and quick REACTION from the
at 7iisa74Nc.
opening, but became exceedingly heavy
later in the day. The market was weakened
by. prospects of larger receipts and a poor
a rule being sellers. Atlantic clearances
yere 800 i95S 100 b bu; a.I May b opened dc, pineha M ST. to
closing easy at 28fssa2ic.
The oats market was almost entirely con-
trolled by the fluctuations in wheat and
corn. But little business was transacted,
the covering of a line of about 100000 bu.
being responsible for the strength imme-
diately after the opening. AIter tnat the
market relapsed into n condition of ex-
treme heaviness. May opened unchanged
at 17Ac, sold at 17asc, fell off to 1870 and
closed with sellers at 16MI1Tc.
Provisions acted very firm In spite of
larger hog receipts than expected, which
caused only n slight opening dip in prices;
Offerings were light and the market ruled
firm, with but slight changes throughout
the session. Prices advanced slightly near
the close on buying by Armour and the
English houses. At the close May pork was
Sc higher at $S.071adS.10, May lard 212c
higher at $40 and May ribs 2}sc higher at
$4.1I1a.
The estimated receipts for Saturday are
Wheat. 10 cars; corn, 2O cars;roats, 22O cars;
hogs, $4,000 head. = 4
The leading futures ranged as follows: