Omaha daily bee., 1889-12-19
The SPECULATIVE MARKETS.
Wheat Hardens and the Loss OF
Tuesday Regained.
CORN SHOWS MORE ACTIVITY.
Trailing in Provisions Slow and
Plenty Of Room for Improvement
Cattle Demand About Equal
TO the supply.
CHICAGO PRODUCE MARKETS.

CHICAGO, Dec. ~1s.--tSpeclal Telegram to
TnR BEE. The wheat market hardened
today and the loss sustained yesterday was
recovered IN the first hour. The tone Of the
market subsequently was steady at u slight
shrInkagc from the best prices, but the rally
about / o'clock made a strong closing. May
opened ut S2lsc, advanced to S2aSc, sold off
TO s94c, rallied to s23@S25sc, receded 20
s24@S2asc, ana until nearly the close chung
closely To S2asc aud seize. Tho close was
S2l5MS2@5c. December ranged at 171sWI736c
ard closed at T4c. January
opened az 15%c, ranged at 7i3S
@i1jsc ana closed at T15sc. The volume of
business was just about up TO the recent
average. There were periods of activity,
notably just before the close, when it spurted
a little. The character of news was gener-
ally bullish, but not unanimously so. Gables
continue TO reflect steady and improved for
eign markets, and the latest telegraph ad-
vices from Russia tell of q sharp falling off
in shipments from that country, The north
west movement continues to drop off sharply,
and northwestern markets are now rela.
lively too high to admit of the shipment of
wheat to the east. The supply that Chicago
has been getting from Minneap-
oils and the tributary country is
accordingly drying up. Minneapolis is de-
cidedly too nigh TO permit the Shipment of
wheat to Chicago. Receipts at winter wheat
points are not quite coming up to eXpecta-
tions, but this may be on account of bad
roads. Tho whole western and southwest
ern country is now q vast sea of mud. The
rail merchandise traffic keeps up astonlsh-
ingly, however. Locally, the situation is
not changed to any important degree. The bear
leaders show no signs of trepldation, though
d good many of the followers took flight on
the advance and ran to cover this forenoon.
The bears WORKED too hard yesterday and
left the market IN All ~oversold state. 1t was
easy for the bull traders TO rush up their
side this morning on good cables, a light
northwestern movement and export gossip.
The tone at the close seemed quite strong
and the bulls were once more discussing the
situation in a hopeful vein.
There was more activity in the
corn pit today and considerable irregu-
laritv and nervousness in the bear
DELIVERIES, more especially in Deem
Der. The market favored the bears for
the first hour, but after that it went de-
cidedly in the other direction and December
shorts became quite anxious, advancing the
price upon themselves from 32kc-to which
it had declined at iirst-to $780, later. There
appeared to be a number of small holders of
short contracts covering, judging from the
size of the lots which were being bought.
Towards the close the price was helped up
still further and under heavy covering of
larger lines than at hrst an excited advance
to Doc took place and the market stood at the
close at 342ic sellers. The foreign markets
were again quoted from firm to strong and a
good demand for export was c%ontirmatory of
this, although the clearances from
Atlantic ports yesterday were rather
under the recent average. The
demand for January corn was fairly active,
and it was firm enough when December was
dull and weak near the opening. 1T started
at3l}sc, declined to Sic. advanced again, sell
ing up to 3lAsc, aud kept between 3ll55c and
31aac for the remainder of the day, closing at
2l36r. Nav lVaS firm but in aCtiva and plospi
at 33lsc.
Oats were more active than during the
early days of the week, and May sold chiefly
at 222iG22Ec, together with one operator
taking about 5000 Q bushels at that range.
January also received increased attention,
selling at 2Oei @2O1Sc, with December offered
at &c discount. Receipts were smaller aud
out-inspection was pnimportant. No. 2 to go
to store was saleable al 2O1Gc, with trading
confined to samples. No. 2 white oats for
May delivery were offered at 241Sc!
The provision trade is still slow. In the
general market a little more interest was
shown today, but there was plenty of room
left for Improvement. Trading dragged and
the business transacted was much smaller
than might be expected at this season. The
feeling, however, was quite strong, and
prices ruled steady, fluctuations being con.
fined to a limited range. Compared with
yesterday the closings were unchanged for
January lard and 215c higher for
May lard and january and May
pork and short ribs. The December
product was held at about former
prices. For cash delivery lard sold a,
&S5@5,s716 and for January Shipment al
$3.50. IOday's cash purchases included 10
ponnd green hasns at sac, 16-pound green
hams at 74@73sc, clear pork at Sill 80 and
partly cureu short ribs at SiS5. Speculation
was again confined almost wholly 10 January
and May, with the last named month leading
in new transactions. For May pork sold q,
S0.6716@9.70. lard at Sc. OBJ CAS-. O5, short ribs
ats4.ga1G early and later at q. 95@49TN Porl
for the same delivery closed at s9,671a@a. 20
lard at 500 and short ribs at $4,000 971I
The January closing stood at S9.21N 10
pork, S5.S111@5.9O for lard and S4.72H TO
short ribs.