Omaha daily bee., 1897-06-06
COMMERCIAL AND FINANCIAL
Holidays Produce Caution and Wheat Makes
Only Slight Drop.
CORN IS FIRM AND SLIGHTLY HIGHER
Oats Follows Corn and Provisions Arc
UaehnnEed-Cold in Manitoba
Reported to he Freezing
wheat Roots

CHICAGO. June 5.-The adjournment OF
the Board OF Trade from noon today 10
Tuesday morning caused both parties TO
the wheat deal TO operate with more than
their usual caution. Thine result OF that
Notwithstanding a preponderance OF bear
ish features in the days news. was a de-
cline of only 14c per bushe. in July wheat
September. however declined sc. Corn
averaged firm and closed az 1-l6c better than
1t did yesterday. Oats kept strictly in line
with corn. Provisions were unchanged at
the close.
The continental markets did not much in
fuence the trading here, although the Paris
market was said to be weak and declining
because of improved weather The prin-
cipal factor at the opening was the pub
fishing of an Improvement of three points
In the condition of Kansas wheat since May
1. The market opened with sellers of July
at from 67isc to 67c, and a sale or two at
from 61iSc to size slipped through about
the same time irhe tenGency was down
ward after that and in about half an hour
the rrice was reduced to 6s7sc for mo
ment, with vastly more buyers than sellers,
however. at the price last mentioned Sep
tember in the same time declined from
sS7sc and 64e at the start TO 63lsc. The week s
clea RANGES of wheat and flour from both
coasts, reported by BradStreetS, were
equal to 2,62o,o0O bu. against g.oSl. .o0 bu.
the preceding week and DOe bu. the cor
responding week of last yesr. Chicago re-
ceipts were 81 cars and Minneapolis and
equal 70 only 1l5 900 bu. The comparatively
small quantity of contract wheat in store
caused the short sellers to act timidly, and
they were rendered stili more cautious when
they heard 1t rumored that several firms
had wheat sold to Armour & Co. which
they could not ring up Therefore, on
the moderate decline referred to those who
had profit in short wheat became anxious
to secure it, and in the doing of IL they
caused il to advance again to around &c.
Cold weather in Manitoba-cold enough, 1t
was said, to freeze whea- at the roots
was element In the closing reaction in
prices. July recovered to from &c to 6flSc
and closed at G63sc bid.
firm in the main. People who were supposed
to have a desire to cover corn already sold
short made a drive at the market early
in the session. That caused a decline in
July from 2S3sc and 2ic at the opening to
23&ac, but as soon as the previous sellers
commenced to show disposition to buy
at the decline the price went UP again
quickly to 24c and a shade better. Reports
from the country We're .or the most par
of an unfavorable character regarding pros
| poets for the growing crop. The Kansas
state report gave the condition Of growing
corn at &.1. The closing price for July was
2lc, at which there were many buyers and
| few sellers
! The improved tone of the market in oats
| was the result Of sympathy with corn July
opened at E7sc. touched 1T&c, advanced tC
| from lI1sc TO lSc at which price it closed
! Provisions were in fair aemand at a Sigh
with. The decline was recovered from neal
| the end under the encouragement of tbs
! strength in corn. Closing prices were sub
| stGntialiy the same Friday.
| 30 cars; corn 500 cars; oats. $50 cars; hogs
| ~ eco head. For the entire week, 175,L00 hog!
1 are expected.
Leading futures range follows: