Omaha daily bee., 1888-01-14
The SPECULATIVE MARKETS.
Small Traders Stand Aloof and
Watch the Big Professionals.
LIGHT TRANSACTIONS IN CORN.
Business in Cattle Somewhat Inter-
fered with on account of the
Non-Arrival OF Trains-Hog
Receipts Light.
CHICAGO PRODUCE MARKET.

CHICAGO, Jan. 13.-[ Special Telegram TO the
BEE The wheat market fell again into a
similitude Of single combat today. The
variations Of prices appeared to be due almost
entirely to the heavy purchases Of single
house on the one sde and the sales nearly
as heavy Of an individual speculator on the
other. Jones, Mccormick & Kennett were
the big buyers and were thought to have pur-
chased q million bushels. Hutchinson, who
was the principal seller, was said to have un-
loaded about $50 600 bushels. While this was
going on local traders found amusement in
trading for small profits on the variations
caused by the chief actors. The great out
side public seemed to be leaving the market
alone. The extreme cold weather was bull
argument enough to start the market strong
at the opening this morning, and first sales of
May wheat were at 4asc. Then the price
dropped to SAC and looked as if it was aimed
at a lower point, but at that figure Hutchin-
son bought some, selling again when the
market had been borne upward, Fluctu-
atiOns were between ~ Is and S439c for long
time, but late in the session there was an ad
vance to s4IIc and the l o'clock close was at
S439MS4l4c.
There was so little Of the corn market that
it was dependent upon fluctuations in wheat
for its course of prices. Trading was almost
entirely Of a scalping character. Outside
orders were very scarce, and even the heavy
professional traders were doing nothing
worthy of notice. May corn opened at 5456c,
dropped to 54c when wheat fell to SIC and ad-
vanced again towards the close when wheat
improved, to 54l4 M5439c, closing at 1 o'clock
at 54i4c bid February corn opened and
closed at 49c asked.
Speculative trading in oats was lighter
than for weeks past and all the fluctuations
were within range of &c. Trading was
entirely in the May delivery, which opened
at AL4@34'lc, sold at 34l4M3ssc and closed
at | o'clock at BAL 0l;Aasc.
The provision trade showed possession of
considerable strength. In pork the opening
was Zoe higher than last nights closing lard
SC higher and short ribs 81 &C. The old bear
element, however, promptly resumed opera
tions and by free selling managed to break
pork a219c, lard lOc and short ribs Sc. From
this depression the market reacted sharply
and despite the efforts made to keep it down,
worked back 12lac IN pork, &c in lard and
9l2c in short ribs. Later the bears again
succeeded IN getting on top and pork finally
closed 20td22l2C under the opening figures
and 119@l0c lower than last nights final
prices Lard closed the same yesterdays IS
last quotations to 2lac lower and short ribs
unchanged.
AFTERNOON SEssIoN-Wheat steady; May
sold up to sac, then to S4l4@S4aec on the
split, closing at about S4a9c. Corn steady
May sold at 54l4W54ssc, closing at about
H4c. Oats were steady. Pork was excited
and weaker, declining SC; May sold from
$l522l3 down to sl5. l2n and closed at Sl515,
January at Sl4.70 and February at Sl41
Lard inactive January S1.42i%, February
S7.4213 bid, March S152}{ and May $1.671s
Short ribs were 2il4c easier and closed at
&.1212 for January and February, $7.S21a for
March and g. 90 for May.