Omaha daily bee., 1899-08-06
COMMERCIAL And FINANCIAL
Weakness of Corn and Favorable Crop Con-
ditions Features on Chicago Market.
TRADES IN WHEAT ARE VERY MODERATE
Oats Are Dull and Fairly steady-Pro.
visions Are Heavy and Close
Mt n Sharp De-
cline.

CHICAGO, Aug. 5.-Dull and irregular
markets prevailed on the Board of Trade
today. Weakness of corn and favorable
crop conditions were features in a decline
of h4&c in wheat. Coarse grains showed
the most weakness in new crop futures.
December corn closed hq%c lower, Septem-
Der losing only a shade. September oats
closed a shade higher and December 1sc
lower. Provisions declined 7k4l2hc.
Opening trades in wheat, both for Decem-
Der and September, were at slight declines
from yesterdays prices, Sc ptember starting
bqhc lower at 69bq69hc, and in the course
of the next half hours trading the price
took a further drop to 69hc. English mar
kets were closed and domestic news was
more or less colorless as a rule and the I'M
tsrest in trading was small even at the
opening. Sellers were In the majority, how
ever. The weather in the northwest was
favorable for harvesting operations and the
Kansas state crop report predicted large
crops of both wheat and corn, the condition
of the latter being put at 100. This deyel-
oped weakness in corn and the narrow
wheat market sympathized to some extent
with the drop in the coarser grains. There
was some selling by yesterdays buyers also
on the favorable northwest crop conditions.
A feature which encouraged the bulls was
the continued small proportion Of new
wheat arrivals and the falling in receipts In
the northwest. Minneapolis and Duluth re-
ceived 240 cars, against 34 last week and 5S
a year ago. Chicago receipts were I6 cars,
"SAN VI NOiNA bAhtNs AONaA SNSipN CIV
primary. points were 675, 900 bushels.
A moderate covering movement started
at the decline to sac: Some buying was
also done against weekly puts and by II
o'clock the September price had recovered
to $3.50. The demand was better for the
deferred futures than for September, con-
Siderable changing being done from Sep.
tember TO December but in the last hour OF
the session interest almost died out and
prices dropped all around. Atlantic port
clearances equaled 44s, 900 bushels. There
was some demand for export, but little in
eased off to 69hq69&c and was bringing
that price at the close.
Corn was weak, though only moderately
much needed rains in the corn states apd
the Kansas August crop report, which esti-
mated the yield at 400, 600, 900 bushels for the
state. The good shipping demand supported
of the new crop futures, December and May
was much heavier than of September, and
those months were correspondingly weak.
September range from 30&c, to .SOssc and
and May closed about 3Ec lower.
oats was dull and fairly steady. Weak
ness of wheat and corn was offset by the
rains in the west, which were expected to
curtail the movement. Receipts were 1855
cars. The cash demand was light. De-
ferred futures showed the most weakness.
September ranged from, ishG to 199se to
1890; December and May closed Bc lower.
Provisions were heavy and closed at sharp
declines. Hog prices were lower and this
by recent buyers. Packers were free sellers,
an additional source. of weakness: AT the
close September pork was 1212c lower at
$3.50, September lard TIC lower at $5.3l1sD
$40. and September ribs 1oc lower at S5,o729
5.1O.
Estimated receipts Monday: Wheat, 125
cars; corn, 400 cars; oats, 4o cars; hogs,
~ a,d,nv f,+uras ronpad ~ followa.