Omaha daily bee., 1888-03-13
THE SPECULATIVE MARKETS.
A Heavy Decline In the Wheat
Market.
VERY LARGE RECEIPTS OF CORN.
Oats Dull and Featureless-A Dull
Day in Provisions, With No Out
side Traiing-Brisk Busi-
ness in Live Stock.
LARGE RECEIPTS OF CORN.
CHICAGO PRODUCE MARKET.

CHICAGO, March 12.-TSpecial Telegram to
the BEE. THE wheat market to-day broke
over the limits which have held IL now for
nearly a month For once the expectation Of
q majority Of local traders was realized and
the market, which opened 4clower than Sat
urday's close, Immediately declined still
further. The government report, with It's
10000 GOO bushels more wheat in farmers
hands than at this time last year was the last
momentous straw Of the load which the bulls
were carrying, and with Sunday intervening
in which TO think it over 1T appeared that a
considerable number Of them were willing to
let 90 this morning. However, there was no
very heavy trading and at the decline the
market was well sustained The shorts did
good share of buying, plenty of them being
found on this as on all previous down turns,
quite willing to take their profits on May
deals whenever that. delivery fell below SOC.
May wheat opened at S01s@S0Ac and after
selling at s014c straight, sold down to 1916c,
reacted to soc, then fell to 1890 and after
another slight reaction to 799s(d5994c, which
was the lowest point. Then there was
another advance TO soc, and dur
ing the latter part of the session the
price held between 1890 and 79Tc, closing
at p. m. at 79sl@79%c. June wheat opened
at SOStc sold down to soc and closed at / p.
m. at sO16c.
The heavy receipts OF corn were too much
for that market, and another decline was
scored there. The trading was not heavy.
1t looked like raid of bears at times, as
there was free short selling at about the low
est point of the day. The grain was not
without friends, however, and whenever the
pressure was relieved the market seemed
spring back and fluctuations were lively.
There was some unloading by longs, but evil
IDENTIFY not so much as the short sellers ex-
pected. May corn opened at 521sc, fell 10
51s1c and again advanced to l1tc. In the
next down turn 5l1lc was touched and the
market was held for sometime between that
price and 515Ic, then there was another ad-
vance to 511Sc, and the O'Clock closing was
at 51s4c bid June corn opened at INC, sold
up to SIC, down to 81 a @5l3sc, and closed at
o'clock at 515Sc.
The speculative oat market was dull and
featureless. May oats opened at 3114c, sold
down to to 3l@3l sc, and up to 3l4@3lssc,
and closed at o'clock at 314c bid. June
oats opened at l14c, sold down to 31@3l sc,
and closed at 81 q 4cGD3laEc. July oats closed at
30c, and that prlce was bid for them at the
close. August oats opened and closed at
273zc, and there was but one other price, "a e
0D27s4c, on the split
1t was dull day in provision circles. There
was little or no outside trading and barring a
little buying of pork early by an cid time
bear and house supposed to represent a
ness transacted ON local account was barren
of special feature. Dizziness held full con-
troll and in short ribs and lard the f1uctua-
tions were unimportant. Pork for May and
June covered a range of nc IN its move
ment, and at o'clock was quoted 10c lower
than Saturdays closings. Short ribs and
lard were unchanged TO 214c lower. For
May pork sold at S14.0713@l4.l5 and closed
at $140716. June future for pork was 215c
higher than May, resting at Sl410. Lard for
May was steady at S7.70, and short ribs for
the same month sold at $7,250n727]6, closing
at $725 bid June lard was &c and June short
ribs nc higher than May. March was NOM
inally l21Sc under May for pork, &c under for
lard and nc under for short ribs.
AFTERNOON SEssIoN-Wheat lower; May
May 795kc, June soc, July SOC. Corn easy
May 5115@5156c June 5lss@5l1Gc July 5lAc.
Oats easier. Pork tirmer; March about
s13,9714, May. s14.10, June $l4.1216. Lard
steady; March $7.65, May s7.7O@I7219.
Snort ribs firmer; March about $T20, May
$7.2716, June $735 bid.