Omaha daily bee., 1888-06-20
SPECULATIVE MARKETS
The Wheat Fluctuations Confined
Within a Narrow Range.
CLOSED AT THE HIGHEST PRICE.
Corn Opens Strong But Drops on
Almost Immcdiately-Oats Err
ratio and Fluctuating-Live
Stock Quotations.
CHICAGO PRODUCE MARKET.

NHlCAGO, juno " ltNVetldl ItlcETdUl u
THE BEE. l--WHEAr-Not much of interest
could be expected in a wheat market that
only fuctuated &c and not much was rca-
lized. Trade was small aud sometimes
stopped altogether while tho crowd had fun
with visiting strangers. The tendency at
first seemed downward, rather from lack Of
interest than any other cause, but whatever
early weakness existed was overcome later,
and alth ough buying never became cnthusi-
astic, the close was at the highest prices of
the session. The first board cable quoted
spot wheat I'D lower, with downward
tendency both for spot and futures but this,
so far as spot grain was concerned, was not
confirmed by second cables. There were pri-
vate cables which gave poor outlook for the
wheat crops in Europe and explain ed the
present easy feeling in the foreign markets
by the fact of heavy arrivals which relieved
all anxiety of buyers for the immediate fu-
ture. New York reported that exporting
houses were buying futures moderately there
because Of reports of cold and wet weather in
Great Britain. There was some buying
here for st. Louis account and this was said
to be because of wet weather in the winter
wheat country about there ana danger of
rust in consequence. The outward movement
of wheat is disappointing to the bulls who
= looked for decline to stimulate exports.
The clearances of wheat reported to-day
were insignificant. However, receipts show
n falling off, which is some compensation.
There was no very great trading by anybody,
but il was noticed that Hutchinson was a
seller on "hard spots,n but bought moder-
ately when prices declined. lteam was sell
ing and Jones, Kennett & Hopkins, and
Schwartz 4 Dupee were buyers. July wheat
opened at Sl5ec and after selling at Sll &c fell
TO sic, but recovered quickly to size and
hnp a nj
with only &c fluctuations and these infre-
quent, but during the last few minutes there
was an advance to size, which was the price
at the close of the morning session. Late
strength in corn seemed to be responsible for
the upturn. December wheat opened at
size, sold to S3Jsc, up 10 and closing at S434c.
a board cable quoted spot wheat in Liverpool
dull with poor demand at unchanged prices.
Futures were all lower, except July which
was unchanged.
The speculative corn market was strong
right at the opening because of decreased
receipts, but there was plenty of long corn
for SALE and the price fell &c almost i'm
mediately. Then upon the purchase of about
one million bushels by Bryant, there was an
upturn in which ali the loss was recovered,
the estimates of lighter receipts for to-mor-
rom helping the advance During the last
half hour of the session there was another
steady advance of about &c. This seemed
TO be caused almost entirely by the efforts of
the local crowds 10 cover their shorts. They
had been trying all morning to hold the
market down against the stimulating effect
of decreased receipts, and when this was
found impossible, they were eager buyers.
There seems to be good reasons to expect
lighter receipts OF corn from this on A
canvass was made this morning of about
twenty-five of the principal receiving houses,
and with but one or two exceptions they
were all looking for greatly decreased re-
ceipts for the next few weeks. These
houses Judge from advices they get from
country shippers who are sending them corn.
July corn opened at 50y sold at 50lsc, then
down to 49l3c, up to 5D1sc again, back to
4094c, then up to 50SIc back to 50i@d50Ssc,
closing at 5O$6c. September corn opened at
5l6c, sold down TO 5C4c, up to 52@52lsc,
and closed at 52c asked.
The speculative oat market was extremely
erratic during the early part of the session,
the greatest tluctuation being in July de-
livery. That delivery opened at 31X@32c,
sold straight down TO 3O1scW30l4c, advanced
TO 3l5Gc, fell to 303Ic, then advanced to 3liGc
and closed with that price bid. When the
furry was over it appeared that the only
reason for it was the effort of one local trader
TO sell about $1,000 bushels of oats when as it
happened there were no buyers IN the oat
crowd. The few traders who were there
were also sellers and the market fell full
cent on three sales. AS soon as bupers ap
peared, however, the market Immediately re-
covered most of the ioss showing that there
was no legitimate reason for so great de-
cline. June oats opened at 3lSc, sold down
to 80lGc and closed nominally at 3ll4c. Aug
ust oats opened at 26t.W2ic, sold at 27c and
at 26Ec, closing at 96Ic. September oats
opened at 26c, sold at 2553Sc, up TO and closing
at 26lsc.
The provision trade was inclined to rule
weak. There was no liberaity in the cash
movement and the speculative contingent
adhered TO a conservative line OF conduct.
The market was narrow and tame. Traders,
IN fact, acted as if they were prepared for a
break and accepted the changes witnessed in
prices in spirit Of resignation. Pork was
weakest early in the last and at | o'clock
rested 1I5c under last nights final prices.
Lard also suffered decline of &c, while short
ribs were unchanged TO 216c lower
AFTERNOON SEssIoN.-Wheath higher; June
closed ut about size; July opened at size,
sold to sl%c, closing at about SlAc; August
closing at S24@S29sc; September closed
about s2IGMs29sc; December clos
closed at 5iI@5l5se; July opened @
at 505sc, sold to 5flSc, off to 504c, then TO
Ole, closing at Sic; August sold at 5lss to
blSlc, off TO 5lsSc, then TO 5lsEc, closing at
5lt1c; September sold at 5l7G@52lsc, closing
at 52isc Oats closed 3s@J4c higher; June
Mt about 3ll6c; July sold at 3lJg@3lslc and
closed ut Sl94c bid; August closed at &c;
September closed at 964c asked. Pork was
quiet and steady; closed at $3.50 for June,
$l3i5 for July, sl3,S5 for August, Sl395 for
September ana $3.50 for October. Lard
was shade easier; the closing bid prices
stood at SS821S for June, $50 for July,
$s4ilEMs so for August and sS.55CGs 57l4 for
September; light trading Short ribs were
steady and unchanged.