Omaha daily bee., 1897-01-09
COMMERCIAL AND FINANCIAL
Wheat Utterly Refuses to Respond to Per.
sistent Bull Influences.
BREAKS TWO CENTS AT THE OPENING
Slight Rally Inter, but the Close Is
Weak and other Grains Also
Close mt DecIinc-Pro-
visions Higher.

CHICAGO, Jan. S.--A break of cents per
bushel in the price of wheat in the first half
hour OF today's session 80 effectually
squeezed the bun feeling out of the local
crowd that no amount of encouraging news
could effect the re-entrance of grain OF
1t. Although there was subsequent rally
of &c the market stlll exhibited signs OF
weakness at the close. Corn and oats were
very weak considering their previous low
prices and closed &c and hGhc lower, re-
spectively. Provisions went in the opposite
direction, closing at 5Gl0c advance.
In wheat, opening Liverpool cables were
q great disappointment. Instead of show
ing a sympathetic advance with the lc
rise here yesterday prices even showed a
slight decline. The market, for no percepti-
BILE reasons, started virtually 1c lower than
1t closed yesterday, although few trades
were made in the confusion of the opening
at declines Of i5mAc. The range Tor May
was officially given at SIC for highest ana
SlAc lowest, but comparatively little
changed hands at over Sl1ac. In a llttie
more than half an hour the price had
dropped to S0lac or cents under yester-
days close. The extreme weakness here
puzzled a good many Wheat was bought
yesterday on n firmcr Liverpool market;
Today the Liverpool market coldly turned
its backs the bull enthusiasm. Noun
ing In the news of the day threw any FUR
ther lIght upon the reasons for such radi-
oil weakness. Closing LiveIp oil cable] W 70
lower, of course, because OF the early acuon
of this market, and showed declines of 120
Ad. The Berlin and Paris markets were
both higher; Antwerp unchanged Chicago
receipts of wheat were only 22 cars. MINI
neapolis and Duluth got only l1S, against
652 n year ago. Atlantic port cearances of
wheat and flour were equal to 3iS, 600 BUSH
els 1t was reported here that % carloads
of wheat were being forwarded from here
by rail to Boston to Bartlett-Frazier, but
this firm denied 1t. 1t was asserted how
ever, that, whoever may be the shippers,
the business was undoubtedly being done,
and not only so, but that in addition an
other 100000 bushel lot was worked in the
same way today. New York reported
twenty boatloads sold for shipment to the
continent. These items were very inflaen-
tial in turning the market. 1t was accom-
panied by a decided decrease in the volume
of trade, but on it's upward path prices held
comparatively steady. May finally reacted
10 Slhc, and closed at S07sc to Sic
Corn seemed to be entirely without
active than usual the market suffered a
severe break. sympathy with wheat con-
tributed to the weakness. great deal of
ports of impending western rate cutting.
May opened n shade lower at from 25Ac to
253sc, declined to 2i3sc and closed weak at
25c.
In oats quite heavy business was trans
acted, though at n lower range of prices.
Notwithstanding the urgent buying an easy
partly through sympathy with wheat. May
opened shade lower at 1870, sold to 1SM a.
lSBc ana closed 1SHsMl9c.
There was much broader trade in pro-
visions with outsiders taking more inter-
est and the hackers apparently unwilling
to part with their lines until prices had n
substantial advance Prices were firm, even
when wheat was weak, and they closed at
about the top figures. At the close May
pork was lOc higher at SI95; May lard about
&c higher az AO5; May ribs about 7Isc
higher at A.07lAG410
Estimated receipts Saturday: Wheat, 100
cars; corn, l45 cars oats, 175 cars; hogs,
1900 head. 7~'
The leading futures ranged as follows: