Omaha daily bee., 1897-05-02
COMMERCIAL AND FINANCIAL
Good Crop Weather Causes Decline in
Grains.
WHEAT GOES DOWN OVER A CENT
Corn and Onts Ench Fail OF About
Thrce-EiEhths and Provisions
Also show Considerable
Losses for the Dny.

| CHICAGO, May 1.-Rain In California
/ and favorable weather, present and pros
peCtive, for spring wheat seeding, together
/ with an absence of export demand were
| the influences under which wheat declined
| 11sc for July today. Other markets followed
| the same course, corn declining sc, oats
about the same and provisions 2iaGlOc.
Wheat started easy at slight decline on
| the rather tame response of the foreign
markets to the good advance here yestcr-
! day and the heavy receipts In the north
west. July opened at 7lss6r717sc. compared
with yesterdays closing price of 71sc, and
under liquidation which started at once 1t
was hammered down to 7lhc. Then the
market turned. and in half an hour July
had climbed up TO 72hm72hc. the highest
| point reached during the session. The de-
! lverics on May contracts were conspicu-
ously small. the total not exceeding $1,000
bushels 1t has been many years since
such small figures have been seen, and
| bulls were quick to seize the advantage
which this fact gave them. After that
| furry, however, the market commenced to
sink. 1t was the same old story, dull trad
ing, and what little there was being mostly
| selling on the advance. BY II o'clock July
had declined to 11%c. Minneapolis and Du-
| luth reported 435 cars. against 3S9 week
| ago, and S01 the corresponding day of the
year before. The Liverpool market was
from I'D to I'D higher. Chicago receipts
were Is Co. = 9, %, HS:sne, :s., shn ,s for sos tic e,
bushels year ago. Country elevator stocks
in the northwest. which Il month ago were
reported at 9,S0D000 bushels. were given to-
day as only 6,S0001O bushels. A bulish
Missouri crop report was received about IL
o'clock, but rally of lac resulted. The
market then gain saEged, gradually get
ting down to 70Isc shortly before the close
The closing price was 703sc. Bradstreet's
report of wheat and -four shipments for
the week from both coasts put them at
1.15SSS6 bushels against l.C5i.UOO bushels the
week before and ,2GJCGO bushels year ago
Corn was weak with wheat and better
weather in the west. There was a slight
narrowing of the spreads as a result of
small May deliveries Little interest was
manifested. the only strength the market
showed being during the early advance of
wheat This was soon lost under sharp
li9u!dation. Exports for the week were
3,65IC00 bushels. July opened shade lower
at 25ATI253Sc, sold at 253sM25kc and de-
clined to &c, where it closed.
Oats was weak. with most of the profess
Sonals large sellers. Local receipts and
sympathy with corn We're the influences.
Trading was quiet until the last half hour
when liquidation became heavy. July
opened unchanged at 177sT1Sc and declined
to 1Il2c, closing easy at 173sc.
with prices showing tendency toward
heaviness on the large hog receipts at most
western markets. The weakness of grain
also had some effect. At the close July
pork was PFC lower at $500 July lard
about &c lower at S.17la and July ribs
about 10c lower at s4.65 bid.
Estimated receipts Monday: Wheat, 10
cars; corn, 20) cars; oats, 1863 cars; hogs,
81. 600 head