Omaha daily bee., 1916-12-20
CHICAGO GRAIN AND PROVISIONS.
Opening Prices Of Wheat Are Steady Il
Three Cents Higher.

| Chicago, Dec. 19.-After a skyrocket as
cent Of TIC today wheat prices fell 7lsc
and closed In a state Of semi-collapse at
a range varying wildly from u under yes
terday's finish to u net advance, with May
at s1,6t& to Sl.G5B and July at s1.3sA
| TO $L3Sh. The rise was due to general
| impression that Great Britain had rejected
outright the German overtures for peace.
| Ensuing assertions that nevertheless loop
hole for a peace conference still remained
were responsible for tho subsequent drop
| In values Corn lost u to " net. oats, y
9hc to NC and provisions 2hc to l5c.
Transactions broadened out TO only a
moderate extent on the big upturn in wheat
prices, but on the downslde appeared to
| have next to no limits. At the outset and
for about an hour and half later the
trade had no definite word as to the nature
of the the British premier's speech. but
| initial uncertainty had given way TO in
| oreasng belief that his reply would be a
decided rebuff 10 the promoters Of a parley
with Germany.
Then came brief but circumstantial re-
ports that Lloyd George had said the war
would not be abandoned until Great Brit
aims object had been achieved. Soon after
| this other more detailed confirmatory dis
| patches came and the market bounded up
ward about 4 cents in short order on top
Of an earlier rise of 3 cents or more. Buying
| on the way upward was decidedly more
active than under ordinary conditions,
though far from recent sensational records
| belhs grew swiftly 1ntO something
like a landslide took place when the wheat
market had approached to within nieasur-
able distance of the prices ruling a week
ago before the announcement of the Ger
| man offer. Rushes TO release profits had
much to do with the general unloading and
the ensuing Declines but the stampede to
the bear side seemed to derive chief impetus
| from. what purported to be London dis
patches asserting that the Lloyd George
| address had left the door ajar for Ger
| many, provided specific terms were named
No aggressive support was forthcoming in
| the sudden confusion that followed and
the close found the stampede only checked
| In part at about Nc up from the bottom
quotation of the day.
Corn swayed almost wholly as result
Of the changes in the wheat market. The
| heaviest selling on the late decline was from
grain and showed no sign Of independence.
| Trade was local
| Liberal receipts OF hogs made provisions
average lower, Spectators who were watch
| Ing the European situation seemed for the
| time being to have transferred their trade
| to the wheat pit
Cash Prices---Wheat--No. and No. red
and No. and No. hard. nominal Corn:
No. 2 yellow, s5% 9sshc; No. 4 yellow, %
| @e4Ac; No. white, 93G94c. Oats: No.
3 white, 52@b3c; standard. 52h@53%c.
Rye: No. 2, $1.4o. Barley: ss5c@s1.2O.
@17.o0. Provisions: Pork. s2s5O; lard,
s16.5oG1s.55: ribs s1s.15q13.65.
| Butter--Unchanged, except seconds.
slightly higher. at 33@s4c; receipts, 6.sss
| tubs.
Esgs-Receipts 1853 cases. unchanged to
slightly higher; frsts, 40@41c; ordinary
32@40c.
Potatoes--unchanged; receipts. rs cars
Poultry-unchanged.