Omaha daily bee., 1889-06-12
THE SPECULATIVE MARKETS.
Bears Had Their Turn at Wheat in
Chicago Yesterday.
THE OUTLOOK is FOR Low PRICES
Corn and Oats Vary But Littie-The
Quiet Feeling Continues i'm Pro-
visions = Cattle Suffer
slight Decline.
CHICAGO PRODUCE MARRETs.

CHICAGO, June H. lSpeclai IeleRram Uo
THE BEE. THE wheat market ruled lower
to-day, with the period of greatest weakness
right around the opening, when June was
quoted at 79Lc, July 759l915ssc, and De-
cember 75l<@75s6c. Very i,ttle July could
be sold above 759sc, at first, but that quota
tion proved TO be the inside for the day, and
the market was a stubborn and improving
ono to the end. Trade was only OF moder-
ate volume, and the session was not product
i've of sensational features. Gables were
neither one thing nor the other, and domestic
news was colored bearishly in all particulars
except the trmness TO the cash wheat mar
kets. Spot wheat and June wheat are at
q substantial premium over new crop de-
liveries here and elsewhere in the west
The market news from the outside CONNER
cial centers was not especially encouraging
and public sentiment may be said to genor-
ally favor the side of cheaper prices. The
friends of wheat have not abandoned the
field, however, and there was: good buying.
In some quarters 1t Us believed that strong
parties are 'under the MARKET with view
TO running deal, but this opinion is not
generally held, and, as q rule, it is openly
ridiculed. The idea of deal is not popular,
even with those who would like 10 see the
market given twist. The majority OF those
who operated last winter and spring on what
somebody else was going to do, are still
wearing scabs and scars. There is more
or less activity in the shipping
line hut no transactions in
volving big lines or even good sized lines are
reported. The export clearances are next TO
nothing to-day, though light loads are re-
ported as having been worked. June wheat
sold up to 1890, and closed ut 7911c, or sSc
lower than yesterday. July ranged from
75sSc up to 76(9161Sc and closed at 75Xc, a
loss Of nc, as compared with Yesterday.
September ranged 73l9 9C97414c, and closed ut
731Sc, or &c less than yesterday. December
sold at 75asC0iSc, and closed at 1890. Ihe
improvement in the weather and tho decided
drop in wheat caused an easier feeling to
prevail in the corn market at the
opening, but on the estimated receipts
for tomorrow becoming known
frmer tone and advancing tendency
took the place of the earlier weakness. The
price changes were slight in the end from
those ruling at the close of the day before,
but what alterations there were favored the
bears. June and cash corn were UNCHANGED,
July and September each lost 1-l6c and Au-
gust &c. The fluctuations were narrow, as
usual, and the interest in the market did not
appear to be widespread.
Oats presented no important price changes
and only a fair speculative activity was
noted, the market ruling dull, and part OF
some futures &c lower. There was an ad-
vance of NC tS4c, the firmness resulting
principally from fair buying for the account
of shorts. July was the favorite, and
the strength in that month helped
the others trif1e June touched 1880 and
July 2296c, with some trading in September
at the split each way from 229sc. Receipts
were liberal, grading chiefly No. white and
No. 2 oats to go to store were quiet and
steady at 221s @221lc.
In provisions the quiet feeling lately wit
messed is still the ruling feature. A little
more interest was shown, to day, but there
was no particular increase in the volume of
business transacted. Short ribs were bought
by Wright and other shorts with some FREQ
dom, but the packer who was the largest IN
dividual buyer of this article, last week,
found it convenient, or prices satisfactory,
to drop portion Of his holdings; |;
and while q seller of short ribs
he was however, larger purchaser than
usual of pork. Lard was the slowest line on
the speculative list. The local receipts of
hogs fell under the expectations but the ar
rivals at outside points made up in a meas
ure for the deficiency here. For the product,
prices all around averaged lower than yes
terday. Still, the decline actually suffered
was small, amounting from G0716c in pork,
and 211Ic in lard. Short ribs closed unchanged
to 216C lower.