Omaha daily bee., 1897-06-27
COMMERCIAL AND FINANCIAL
September Wheat Displace5 July in Toiat
Of Interest,
TRADERS KEEP CLOSE TAB on BROKERS
wheat Goes Up with n Bound, spEs n
Cent and Then Goes Upward
Agnin-Septcmbcr option ABB
serbs Interest Later.

CHICAGO. June 26.-September wheat
changed places today in point Of speculative
interest. July started out with the usual
corner scare. but before the session was
half over September was commanding the
attention Of most of the traders and was
much stronger at the close. Final .rices
.hJwed a isc advance in July and Noise
rise in September. other markets we're dull.
ana neglected. Corn closed unchanged, oats
A shade higher and provisions unchanged TO
5Iec lower.
Nothing else was before the vision OF wheat
traders at the opening but the ever-groWinS
~pecter Of a July corner. The usual news
II the day had little to do with the iuctua-
lions. Traders watched the brokers, who
we're supposed TO be doing the bidding of the
men who were credited with the %naninula-
ton of July. and as they bought or sold so
did the crowd. July wheat started at a sur
pr.sing pace; its first jump was at a rise Of
from &c to sc per bushel-I2lRuI2Ac being
quoted at the outset. This was followed UP
with a few kangaroo bounds That took the
price to 73i-c. That appeared to be the
.ng the remainder Of the trst hour II in
uulged in a series of erratic sputters Ike a
handful of ligated fi~recrackers. From i3i2c
down to 72i5c, up again to T3Lec and back 10
BE were some of the more noticeable of its
..yrations in the first hour. September wheat
al nearly &c below July was strangely neg
iccted for a time, but that was a condition
IN which II was not permitted to remain. II
ypened at 64&c, compared with 6iSsc, It's clos
ny price the day before. After touchins
Gifsc IL hung between that and oi1sc, with
very little doing in it for an hour. Then II
u1denly sprang into activity. Poor reports
from Russia and the Danubian provinces
started buying and so lively did the demand
become that July was for a time neglected
ind September rose to G6c. Much of the Sep
.ember buying was supposed to come. from
.ie same source as the July buying. The re-
-eipts at Chicago were % carloads. Mime
polls and Duluth reported the receipt of
80 cars, against $50 the corresponding day
sheat and -four from both coasts were 2,l56'-
90 bu. against 2,3i7. coo bu. the week before
and 2S7,No Blu; a year ago. Argentine DID
lot ship any wheat 70 Europe this week. A
year ago Argentine shipments for the CORE
bonding week were 32U0Co bu. The eNportS
of wheat and flour for twenty-four hours
from Atlantic ports were equal to 20,oe
\ London cablegram wa said to report
% per cent shortage this year, compared
with last year. in the Eng ish crop, and
claimed that for months the Atlantic
ports of America would be called upon for
September maintained its advance. 1t did
not get below $3.50, after having sold al
&c. 1t touched 66Bc. and closed worth
65TsGe6c. July, after all its early buster,
Corn was slow, within an extremely mar
row range, with prices a shade easier most
conditions through the west. The advance
IN wheat was a factor latterly. Trade was
small, in marked contrast to the activity
which has prevailed nearly all week. Loca!
receipts were $50 cars; September opened
unchanged at 26c. sold between 26026lsc and
SO, closing at PC.
Oats were dull within a &c range. The
feeling early was weak on the unloading
f i line of about 10000 bushels by a promi-
nent trader, but the market deve oped con
siderable strength later in sympathy with
ne advance in wheat. Local receipts Were
AS cars. September opened unchanged at
lSc, sold at lTTsc, and advanced to 1SalSisc,
where it closed.
n limited trade was done in provisions
The feeling during the early morning was
aasy on the large receipts of hogs, but
steadied later as wheat continued to show
trength. A fair demand sprang up at the
decline. At the close September pork was
IIsc lower at S.57k; September lard. I'M
changed at S.G5. and September ribs, 2l.c
over at 81 47lar4.jO.
Estimated receipts for Monday: Wheat,
- cars; corn, 425 cars; oats. 800 cars; hogs,
10. coo head.
neaeiing futures ranged as follows:
- y.,nL.Iu