Omaha daily bee., 1888-01-06
The SPECULATIVE MARKETS..
Professionals Again Take Charge of
the Wheat Pit.
A VERY DULL SESSION IN CORN.
Considerable Strength Shown in Pro-
vision TradingA Large In
crease in the Arrivals OF
Cattle-Quotations.
CHICAGO PRODUCE MARKET.

CHICAGO Jan. Especial Telegram TO the
BE. There was continuation of ycster-
days battle in the wheat pit with Ream and
Bloom the bear leaders and Hutchinson the
strongest bull. AS far as these leaders were
concerned, the fight was rather less furious,
and even with considerably more outside
trading the market was dull for large part
OF the session. May wheat opened at s5i4c
and there appeared 10 be some bullish feeling
present which was left over from yesterday
afternoons short session. The price held be-
tween Sd &C and s53sc for some time and then
dropped to s5c and later to S4IMs5c, then
advanced to s59zc and fuctuated between
that price and S5lsc advancing to s5ilc when
news Of the -four exports became known. Just
before the o'clock adjournment there came
rush to sell and the price dropped almost
without pause to s4Xc and rested there at
the close Of the morning session. February
wheat opened at 1s55c asked, sold up to 1STc
and down to 1sl5c, where It closed at /
o'clock. The strongest bull news was that
concerning Hour exports. New York re-
ported exports of 2510 barrels and ", $50
sacks of -four, and Baltimore gave exports of
u E,4i1 barrels
The corn market was particularly dull dur
ing most of the day and the course of prices
seemed to be more Influenced by the alternate
weakness and strength of wheat than by any
other cause. Fluctuations were within a
range Of &c and trading was light. May
corn opened at I10t15c and this was the
highest price. The first drop carried the
price to 5419c, after which there was reac-
ton to 541Sc and then another decline Just
before the close to 545s u5il3c, the price
resting at 54l2c at o'clock. February corn
opened nominally at 49l &C and closed at 49c.
The last decline in price was attributed to
free selling by Bloom.
The speculative oats market was rather
dull but strong for most of the session.
January oats were bid up to 32c and that
rather helped the more active delivery, which
was May. That delivery opened at 35c i'm
mediately dropped to 3i94c and then ad-
vanced to 35M351sc, declining towards the
close with the other grain uIarkcts and rest
ing at ! o'clock at 3444MHtSc. February
oats opened AT 3lSsc asked and closed at
3l13c.
The provision trade showed considerable
strength. Increased arrivals of hogs reported
at the stock yards induced the bear element
to make another raid at the opening on lard
and pork but their operations met with
rather poor success The market COM
manded much better support than was ex-
pectcd and on the withdrawal of the deprcss-
ing influences pork reacted sharply, with u
moderate following by lard. Short ribs were
comparatively strong throughout. Based on
last nights closing the actual decline in pork
at o'clock was only DC, in lard 5m1I4c and
shOr! ribs 2;20I5c.
AFTERNooN SEssIoN-Thcre was only a
IlCdsrate activity on the late board. May
Wheat sold off to S454c, which was the lowest
point OF the day, but Mt the close 81 &c was
the mark. Corn was steady and firm. Oats
steady Pork for May closed at Sl5.55, Jan
uary Sl5O5, February Sl5.l5 Lard was q &c
easier closing at $685. for January, 1866 for
february, 81 IS for March and ST. Soar 92l !
t1' May. Short ribs for January closed ut
=; 80, February t;.s5, March S'05 and May
Nb12h.