Omaha daily bee., 1888-12-11
TIE SPECULATIVE MARKETS.
Ream, Cudahy and Jones Are Now
Pronounced Bulls.
WHEAT TAKES A SHARP uRruRN.
Corn Was Very Duli-rrovision Trade
Has Recovered n L. ittlc-Choicc
to Extra Beeves Higher
Hogs Are Lower.
CHICAGO PRODUCE MARKET.

CHICAGO, Dec. 10.-tSpecal Telegram to
TnE BEE. The wheat market opened about
where it left of Saturday, with sales of
May at sl09. On the report that S93 cars
were received at Minneapolis the market
broke lEc, May going to Sl,0siI. This Min
ncapolis news kept coming forward in differ
ent forms through the forenoon. One of the
phases was the statement that the number
OF cars on side tracks at Minneapolis was
$500. This was subsequently corrected
down to 800 cars including to-days big re-
cepts, and to-morrow's estimate was $50
cars. The big movement in northwest and
the non-fulilment of the predictions Of
falling off, is one of the strongest cards the
bears have left, and they are playing it for
its full value. The large receipts at Mime
apolis have decidedly dscouragiug ap-
pearance. Information on the best of
authority, that back country elevator
stocks of spring wheat are very
small, and that farmers deliveries of spring
wheat are at least one-half smaller than they
were year ago, is received skeptically, as
the further statement that very large pro-
portion of the property that is coming for
ward is from country elevators, the wiping
out OF carrying charges making 1t to the
owners advantage to deliver it on Deccm-
Der contracts These things which are
stated as facts by well informed and truth
ful people, are regarded with doubt by
blackboard students, who Will not look be-
yond the table of current receipts and ship
ments. For that reason the crowd took
kindly to the selling side of the market early,
especially as statistcans had given it out
that 100000 bushels increase in the visible
supply might be expected. AS stocks came
in, however the statisticians were forced to
modify their estimates and the market har-
dened considerably. In the meantime, May
gradually moved up TO SlO0l4. IL sold
off to Sl0SS4, and up again to SlO9l2W
1.095E, off again to Sl.U91s up to Sl.09li,
and then during the last hour it doomed to
SllO@6, closing at 10Y, with January
quoted at 81 O5t5. The posting of the visible
supply showing the total stocks to be 36,5I0,-
OOO bushels, an increase of 4SS,0O0 bushels,
was the main cause OF the recovery of prices
from the bottom, and of the mid session
steadiness Then the late cables came in
firmer, and an advance in Liverpool was
quoted. About half past l2 O'Clock Mime
apolis wired that a round lot of flour had
been sold there for London account at Il
shilling advance. The news came from
prominent houses. and the result was sharp
advance of 1c bushel. The closing was
strong at outside figures, and the last prices
mark an Improvement of about lIIc in price,
as compared with Saturday. The stalwart
bull contingent in the local field has been re-
iDforced recently by the strongest and most
energetic operators, who constitute what
is known as the local talent.
Ream, Cudahy, Jones and their fol-
lowings are now pronounced bulls.
The mystery now is, 'Who are the shorts!''
Outside of the moderate foreign interest, the
shorts cannot be located very satisfactorily
unless it should turn out that Hutchinson is
heavily fixed that way.
Corn was very dull. Receipts were heavy
The weather is still favorable to a free
movement from the farmers hands; and
there is only a duh, dragging demand from
the shippers. There was no outside business
of any account, and even the local trade was
small. January opened at 350o35 SC, but soon
weakened to 3l9<c, and later To 34@3sc, back to
24J6a3494c, and again to 34kc. May was
dull and without friends until 3Il5c was
reached, at which price there was a stroug
demand developed, presumably from the
short interest: and on the publication of the
decrease of 100000 bushels for the week in
the visible supply, the demand from the same
source was further stimulated to moderate
extent, and there was no enthusiasm or
even life in business. January closed at
34Xc, and May at 3i%c sellers, which is
decline of &c on near futures, and there is
no change in the price of May from the clos
ing figures OF Saturday. There were no
charters made to-day.
The provision trade recovered a little from
Saturdays depression movement and was in
no wise bullish, but the market presented a
stronger front, and rule closed higher
after moderate fluctuations. In pork the ad-
vance established was l0c, and in short ribs
&c. December lard closed 2I2c lower.