Omaha daily bee., 1888-06-26
THE SPECULATIVE MARKETS
a Slight Advance in the Price of
Wheat.
coRNoPENs STRONG AND HIGHER
Oats Rule Quiet and Featurelcss-
Provisions Very DulI-Good Cattle
Sell Well, But Poor Ones
Drag-Hogs Active.
CHICAGO PRODUCE MARKET.

CHICAGO. June 25.-rSpecial Telegram TO
THE BEE.l-There Is little relief to-day
from the monotony OF chronicling the con-
stanty declining prices OF grain in the mar
kets. July wheat closed the morning session
1-lGc higher than on Saturday. The reaction
is not so great as to cause a shock TO the SEN
sative spectators, but it IS better than moth
ing. 1t revives the dying faith in the posi-
bility of halt IN the downward movement,
and there is no occasion to thank the bears
for the halt, as they were still pounding
away at wheat and corn to-day but, as can
be seen, with less effect than of late. The
reports of heavy rains in southwestern har-
vest fields were the melting cause for open
ing the market &c here higher than it closed
Saturday. st. Louis showed an early ad-
vance of &c, and New York of &c.
The market looked strong and as if
little further upward movement might set
the shorts to covering and cause sharp ad-
vance, but the influence Of the big shorts was
felt. The opening prices of July were the
highest of the session. Hutchinson began
selling freely and with his following more
than supplied the demand. Prices sagged
and when the first figures of the visible sup
ply statement came in, indicating a very
small decrease, whatever bullish feeling was
left seemed to vanish. The decline amounted
to 94c from opening prices and there it stopped.
Il. M. Baxter began buying heavily and
James E. Boyd & Bro, Jones, Kennel & Hop
lins and Swartz & Dupee, were buyers. On
the upward movement &c was gained and
umereai'er ,,, huoVuaV'ons were small
This upturn was helped by the
completed visible supply statement which
showed decrease of 5000 bushels. nearly
% iiiUo" do was y, oui'coo oii 0aOuruaS' oni-
cago STOCKS OF wheat increased 33,oOO BUSH
els. July wheat opened at 791@c fell to 7S94c,
advanced to 194c, then huctuated for the re-
mainder of thelsession between 19c and 7914c,
closing at o'clock at 19ls@i94c. The pre-
considerably at different times. This was
said to be due to the changing over of large
amount from August to July by one house.
August wheat opened at 1890, sold up to SOC
down to 7914c and closed at 193s0019l2c. De
cember wheat opened at S2I%c, sold at S2@sc,
down to S21Sc and closed at So &C.
The receipts of corn to-day were sixty
three cars less than was expected, and the
effect was seen in strong and higher open
ing of the speculative market III that grain.
The shorts were anxious and began to cover
but here, as in wheat, Hutchinson was q
prominent figure, and his brokers were sell
ing corn freely. This encouraged the smaller
traders who are generally rather bearIsh on
corn, and they sold the market down again.
Then came the visible supply statement
showing an increase of only $4,000 bushels,
which was much less than traders expected,
and there was good reaction, which was
helped little later by larger charters re
ported-637, 900 bushels since Saturday night
This made the closing strong at nearly as
good as the opening price New York reported
twelve boat-loads of corn, taken there
for export. July corn opened at 475Sc, sold
nm to 47Lc down to 17IIc nm to 478 ic and