Omaha daily bee., 1898-06-19
COMMERCIAL And FINANCIAL
Outlook for a Gigantic Crop Further
Weakens Wheat.
JULY AND SEPTEMBER QUIT w1HA LOSS
Corn Closes Higher, Oats Remain Un-
changed, Pork and Lard Are Both
Lower, While Ribs Are
Unchanged.

CHICAGO, Tune decentralization of
the foreign markets and the all-pervading
feeling of a gigantic crop here weakened
wheat today. July left off with a loss of
S4c and September / l-Sc. Corn closed S-Sc
higher and oats unchanged. Pork closed
&c lower, lard 2hkc down and ribs unchanged.
The holders of July wheat were thrown
into something of a panic at the start by
the news from Liverpool, where spectators
we're said to be demoralized. At one time
the price of July there was quoted sac per
bu. below the price last night. For some
days the feeling in July here has been
steadily growing weaker, and when the adj
verse news from Liverpool was received the
price of July fell off to 72lhc-a drop of &c
from the close last night. A considerable
portion OF this decline was recovered on
general buying. September and December
showed a fair degree of strength and sold
somewhat higher at the start, but finally
broke on the demoralized feeling In July.
September sold down to 81 5-Sc, or nc below
clined to 65 5-Sc. The rally in July caused
some Improvement in these longer futures,
and they got additional help from the lib
eral buying by shorts who took advantage
to buy in and secure profits, and under
these improving conditions there was n
good rally. The continental markets were
weak, and when the declines for the day
were announced from Paris and Antwerp
the prices here had another severe setback.
While more rain. was reported in the north
west the weather south and southwest,
is all that could be desired. The
declines at Paris were SAC a bu. for
June and CSC a bu. for September and De-
cember. Antwerp was down the equivalent
of sac for American red and 25.Sc a bu.
for Californian. The reported ~prolongation
of the period for free importations of wheat
into Italy was contradicted. TIL time will
expire July ! as originally intended. Do
cago and 90 at Minneapolis and Duluth.
The weeks receipts at the two latter places
were SIS cars, against 1922 the correspond
ing week of the year before. The Atlantic
wheat and flour to las, 600 blu. July opened
1d2lfc lower at T5173lac, sold down to 721ac,
advanced to 74%c, declined to 72c, then
firmed up to 72lAc bid at the close. Septem-
sold down to 81 5-Sc, rose to 6S Use, then
weakened to &c bid, the closing figure.
The strength in corn was due to the i'm
preston largely prevailing among influen-
out well without most exceptionally favor
able weather from now till its maturity.
Heavy rains in the western states during
the last twenty-four hours tended to main
&c higher at - 1-SG32Ac, sold up to 32L$@
80 5-Sc, then declined to S2A@32 3-Sc, the
closing figure.
Oats derived a firmer feeling in sympathy
with corn. July opened 1-SMAc higher at
"a 1-SM24AC, declined to 23&I23 Use. and
closed at % Use bid.
Influenced by the strength in corn pro-
visions showed a slight IMPROVEMENT. July
pork started 2Hc higher at s9.62ha, sold up
to 80 CITY,, then declined to SO IS, the closing
price. The range in lard and ribs was UNI
important.
m receipts for Monday: Wheat,
IL cars; corn, 800 cars; oats, 100 cars; hogs,
$1,000 head. rtf
Leading futures range as follows: