Omaha daily bee., 1888-04-07
SPECULATIVE MARKETS.
A Decided Change For the Better
in Wheat
;oRN HOLDS YESTERDAYS GAIN.
The Strong Feeling Due TO Light Re.
ceipts and Sympathy With Wheat
Moderate Speculation in Oats
General Quotations.
CHICAGO PRODUCE MA RKEr.

CHICAGO, April 6-fSpecial Telegram
10 the BEE. THE wheat market had I'M
proved greatly over night and when traders
came together this morning everybody seemed
10 want some wheat and prices, which
seemed high yesterday, were low this morn
ing. The first sales of May wheat showed
an advance over last nights close Of &c and
very soon another &c was added to this.
One house was said TO have bought in 60O,OO0
bushels Of short wheat within ten minutes
after the opening and there was a small
army Of lesser shorts, all eager to cover and
get on the other side before the expected
boom got too much of a start. There APP
peared TO be very good buying also for invest
ment by outside spectators. AT least a
humber Of the larger commission houses,
whose clientage is principally in the coun-
try, were free buyers. May wheat opened at
78Ac, sold up to i69sc, down to i6ls@16l4c,
then up to 165Gc and held between that price
and 76l<c for some time, then slowly worked
down 10 761sc, advanced to i6Ac, fell to
S51Sc, advanced TO i61sc again, then dropped
to 75%G16c and closed there at / p. m. June
wheat opened at T6Tc, sold to i19Sc, dows to
765kc, and closed there at / I. m.
At the opening in the corn market there
NNho " Va YIN 'S'
yesterday afternoon, which was due chiefly
to small receipts and partly to sympathy
with wheat. May corn opened at 502lc,
which was &c above last nights close, and
soon sold up to 53c. There was good buying
by several of the commission houses, while
at the advance the local traders were the
sellers and evidently expected a break,
which expectations were partially realized.
May corn dropped to 52&@52Gc, again
touched 53c, dropped back to $3.50 and be-
tween that price and 529lc held stubbornly
for come time. But when wheat began to de-
cline corn followed and gradually fell with
occasional reactions to 524M52ssc, where it
closed at | p. m. at the lowest point OF the
session. The estimated receipts for to-mor-
row are light, but they are at least larger
than to-day's receipts and this was enough
encouragement for the short sellers. June
corn opened at 52c, sold up to 5214c and down
to 516kc bid, at the l O'Clock close.
There was only a moderate speculative
trade in oats with no special feature. Fluc-
~tuations were narrow and the later tendency
of prices was downward in sympathy
with the corn market. May oats
opened at 316@3lAc, sold at BIC straight,
then down to 30N@3lc, which was the price
at the / o'clock close. June oats opened at
Bic, sold at 3l@311sc and at 301sc, closing at
l o'clock at the last named price. August
oats opened and closed at 2114c, selling up at
one time to 27$6c. July oats sold at 3Os4c.
The provision trade was bearish in its
movements and changes. The old raiders,
encouraged by the condition of the hog
market, were more aggressive than on any
former days of the week. In short ribs and
pork-more particularly in the former-they
resumed their hammering policy and by ex-
cessive offerings forced a severe break. Lard
was relatively stronger than either short ribs
or pork, yet lower prices were the rule and
the closings at / p. m. showed a material de-
r,ag,ar al arn,,nl frnnn Incf nt,rhtfc 1nct ana
tations. In pork the days actual decline was
15@17Hc, IN lard sc and in short ribs nc.
AFTERNOON SEssIoN-Wheat easy, May
closing 1890 bid, June 1890, July 76slc bid.
Corn weaker; May sold from 524c to sea
521Ec on the split, closing at 52Bc bid; June
5l16c, July 5l19@5l6c. Oats easier. Pork
was firm; both May and June sold and closed
at sl332H; April, sl3.25; July, Sl3.371a.
Lard was steady and closed at S7.4714 for
April, $3.50 for May, $685. for Jun and
~ a1lk for Univ