Omaha daily bee., 1886-12-11
THE SPECULATIVE MARKETS.
The Claim Still Made That Ream is Hold
ing On to His Wheat.
ONE DOLLAR EXPECTED FOR MAY
A Weak Undertone to Corn-Very
Little Change in Cattle Prices
Hog Values Higher-Gen-
eraI Quotations.
CHICAGO PRODUCE MARKET.

CHICAGO, Dec. 10 Special Telegram to
the BEE. l-On Change they are still figuring
on Ream's attitude now. 1t Is the general
opinion that he sold his wheat the other day,
yet Clarke, his partner said this forenoon:
"Ream did not sell his wheat and is still
standing on il, feeling certain that 81 before
long will not be considered an extraordinary
price for the May option" New York GER
tainly engineered this bulge from "a to s612c
where May sold this morning. New York
was big buyer at the start and they were
buying on their cables. Even Beerbohm
quoted the market as showing an improved
feeling, and private cables all corroborated
the public ones. The market is so bullish
now that all the details of the situation are
lost sight Of Carrying charges, which were
the bane of bull speculation few weeks ago,
are not thought of nor mentioned now yet
they are extraordinarily heavy just now.
Carrying charges from January to May are
Gl4c hushel and &c from now until Janu-
ary. With one.third of the month gone this
is at the rate of nearly 12c for May. Specula-
tion to-day was not dstinguishable as by
individuals, but by localities. New York,
as for a week past cut the biggest figure, and
there is where the bull news came from. III
sold early at about Soc for May and then
seemed to turn buyers again when the Sic
point was passed Everybody admitted, even
the bears, that cables were extraordinarily
strong. Corn acted heavy to-day and the
undertone was unqualliedly weak. The
only support the market had was derived
from wheat, there being no independent
strength in 1t. Speculative trading was
light all through and the deal could better be
described us neglected than as positively
dull. The stringency in the money market,
dullness in cash stuff and the difficulty in
carving it has much to do with this state of
affairs. The discount on January under the
price of May widened again to-day and there
is now a spread of 61sc, while cash coin is
fully 614d6s6c under May. OF course this is
one of the weakest features in the market.
Another is to be found in the freer move
ment in the interior and the tendency of re-
figured at over thirty cars and the weather Is
still "open," which is not only conducive to
larger deliveries from farmers hands, but to
diminished consumption in the west. May
l8ilc, which was bid at / o'clock, a
shade better than yesterdays closing: Near
p. m. at $3.50 for December, 37ls@3714c for
January and 375sa37s4c for February. Jann-
AIRY corn sold from 37sSc at the opening OFT to
37isa3714c., Oats In the speculative market
during the regular session to-day all the fu.
lures this side of May weakened to the extent
of &c or so. though there was stronger
opening. The advance in provisions has
checked shipping Inquiry somewhat. but as
buyers seem to be able to obtain signt con-
cessiOns, a slight Improvement in the cash
market after two or three days of dullneSs is
apparent. The speculative situation was
strong to-day, and an advance in all pro-
duets is noted Trade was light, taken as a
whole, but there were periods of considerable
activity. Improved cables and the local buy
ing consequent brought about decided i'm
Urovement on the afternoon session, during
the first ten minutes of which wheat sold up
To sGa4c for May, a recovery of &c, but 1t re-
acted later
The lnal closings were as follows: Wheat
frmer mt 7S1s07S14c for December, 79c for
January, 7934c tor February, sOssc for March,
SGssc for May. Corn tirmer at SIC tor Decem-
Der, 31Ssc for January, 1890 for May. Oats
duh at !6Lc for December Sic for May.
Pork shade higher ut Sll 90 for December,
Sl!.2111 for January, Sl1.4O for February.
Lard steady at So for December, $6l5 for
January.