Omaha daily bee., 1899-11-12
COMMERCIAL AND FINANCIAL
Downhesrted Bulls Abandon Wheat Which
Seeks Still Lower Level.
OUTLOOK IS BeARlSH AND DEMAND SLACK
Slight Recession is Registered in Oats
with Corn Unchanged to shade
Lowcr-Provisions Follow
other Lines.

CHICAGO, Nov. 1l.-Wheat today went
even lower than yesterdays bottom price
closing hd2sc lower on bearish statistics
and lack of cash demand. Corn closet an
changed to hc down and oats a shade
lower. Provisions closed lower; January
pork 7lac.
The story of wheat today was one of
continuous liquidation based on the bearish
tone of statistics. The downhearted bulls
let their holdings slide in despondent
stream The decline was in spite IF Liver
pool. The opening was shade lower. de-
cember at 67laa6ISsc and May at 7lL@1%sc
This was the highest price for the day. Re-
ceipts in the northwest were liberal There
was a prospect of an increase in the visible
of 100000 bushels and in local stocks Of
100000 bushels The cash demand was
small. With this array of figures as an i'm
pulse the market eased off from the open
ing, going 1sc under puts, December to
671sc and May to Tic. There was a momen-
tary rally of a shade on buying against
puts, but 1t was, merely straw in the
downward rush. At the close there was
continued buying against puts and some
covering by shorts which put closing fis-
ures at 67hc for December and 7lBc for
May. The market was duh and Il belief
that the price would sink still more Mon
day, when statistics are expected to he
boarish. New York reported % loads taken
for export. Clearances were liberal, OS1 900
l,OlIO& bushels, against 1,539,ndD bushels
last year. Minneapolis and Duluth reported
receipts OF 1039 cars, as compared with I23
last week and 1929 a year ago. Receipts
here were Sc cars rs of contract grade.
Corn stubbornly opposed travelling
parallel with wheat. In this ii was assisted
by the statistics. There was a report of
damages from frost and dry weather in
Argentine and Liverpool was firm. Hhere
was difference of opinion concerning
country offerings, but majority appar-
emily hold that they were still small and
not increasing. December opened un-
changed at 3lA93l9sc, ranged 31sU3lAc and
closed at 31kQ3l7sc May opened Il shade
down at 32l9c, ranged 32ss632Ssc and closed
at 32asq32l2c. Receipts here were 23l cars;
at primary points, $4,000 bushels. The SOW
ernment report was taken to indicate an
improvement in the yield. New YORK re-
ported 80 loads taken for export.
There was quite good trade in oats the
selling of May by professionals and COM
mission people being the feature. The de-
mand was sufficient to consume the offer
ings. December sold at 22kq22ssc and
closed at 22A@222sc; May sold at 22A d22 &c
152 cars.
Provisions were a dull market and the
price tended downward with wheat. jan
uary pork closed 7lbc lower at $780, jan
uary lard 21ac under yesterdays close at
SIS 22h and January ribs sc lower at Si95
There were few offerings and little demand
and exports for the week showed UP bad
Hog prices were also lower fact which
had depressing influence.
Estimated receipts tomorrow: Wheat, llO
cars; corn, 300 cars; oats, 25O cars; hogs
Al, 900 head.
The leading futures ranged as follows:
Articles Open High LOW Closei Yes'y