Omaha daily bee., 1888-07-28
The SPECULATIVE MARKETS.
Wheat Opens Weak, But Receivers
and Rules Firm.
NOT MUCH ACTIVITY IN CORN.
Oats Dull and Lower-Provisions Ex-
p%erience Quite n Boom-Cattie
Slow and Unsatisfactory
Hogs Barely Steady.
CHICAGO PRODUCE MARKET.

CHICAGO, July 27.-[Special Telegram to
The BEE. Wheat had a weak, sick spell
right at the opening, but for the greater part
Of the session firmness was the prevailing
feature. The initial range was 1910 for
August, 794@i936c for September and Size
for December. Prices got down to 7914c for
August, though the official reporter gives
7914@79ssc the inside and S1Ac for Decem-
Der. Nobody seemed to want wheat at the
beginning. The weather was clearing up in
England and the continent. The leading
local feature, aside from the influence ex.
cited by foreign advices, was the support
given on news from the northwest. The
weather throughout the northwest is hot and
murky and not favorable to wheat, and re-
ports from that vast district are far less
rosy now than they have been any time for
q month. This induced some excellent buy
ing by strong local parties. Hutchinson was
perhaps the largest individual trader. The
range of prices for the day was
1@1Ac and the close was within g
fraction of the top. The advance in August
was from 794c to S0sec and in December from
S15Ec TO S2%@S2&c. Whenever August got
below soc it ~rebounded, and for the last two
hours the price fiuctuated between SOC and
s03sc. December only reached &c from the
top, ana leaves off Nc higher than yester-
day. July closed 2 cents over August.
Corn ranged from weak TO steady. Phillips
was the great seller most of the session, but
the market was fairly well supported and
closing quotations were "A shade better than
yesterday, The bears went to selling right
and left, but without breaking the market
more than &c. Another break in the Erie
canal was a dampener on shipments. Trade
was not of extraordinary volume.
Oats were duller than on any previous day
~ Tho txvnnly lnyx-nt. nrinn iii r in ~ nrI ~ n ii
futures, though fluctuations were confined
within narrow limits There was no special
inquiry for any option, with sellers in the
majority and only a moderate demand, which
was generally attributed to the
short interest. This is not consid-
cred important, however, and sellers
July was in light request at nearly steady
figures, touching 30c at one time. New crop
deliveries were in more favor than the long
months, with seller August declining about
NC, and the two following months showing a
further weakness. In store lots were dull
and q~uotable around 2994c for No. 2, with
most of the cash transactions by sample.
The provision pit was more than ordinarily
attractive. A sharp and general boom in
values brought into the market n large nun
Der of outside traders, and from the start
unusually interesting trade was witnessed.
The failure of hogs to come forward freely
under the recent heavy advance has made
the shorts in products feel very uneasy.
To-day buying against outstanding contracts
was the rule, and as buyers found
holders slow to meet their wants, a sharp
upward movement followed. Initial sales all
around were made at yesterdays closing
prices to q shade under, and before any
reaction occurred pork sustained an apprecia-
ton of 4214c, lard 15c and short ribs 10c.
When the top figures were reached, however,
the more urgent buyers withdrew and differ
ent lines of property ruled easier. Later
short ribs and pork recovered to a great ex.
tent the ground lost and closed quite firm.
Lard refused to follow and for the last hour
or so of the session was the weakest article
on the list. In the entire market, however,
the days advance was sufficient to make the
bears nervous. In pork it amounted to 3iEc,
in lard 10 719@lOc, and IN short ribs to
5M11<c.