Omaha daily bee., 1889-08-28
THE SPECULATIVE MARKETS.
Wheat Has a Weak Opening on
Easy Cables.
CORN SHOWS LATE FIRMNess.
A Strong Feeling m Provisions with
Prices at Times Irregular
Nothing New In Cattle
Hogs Active.
CHICAGO PRODUCE MARKETS.

CHICAGO. August 27.-T Special Telegram TO
The BEB.l-The wheat market had a weak
opening. In 'offices' yesterday afternoo
December was bid up to 7ssic, but the OPEN
ing this morning was weak on easy cables.
The European markets did not respond to
the bulge on this side, though later Liver
pool cables quoted q small improvement in
prices, due TO the unsettled condition of the
weather IN the United Kingdom. The mark
cts over there are, up to the present, not
disturbed over the worlds crop deficiency.
The importing countries of Europe have big
crops and the feeling is easy for that roa-
son. Whatever may occur later on there
Is no immediate danger of short
supplies. The homo situation presents
bullish features which are by many consid-
cred Of greater Importance than any figures
that may emanate officially or in any other
way from any Austrian seed congress. The
big field movement Of winter wheat is on the
wane and stocks at western points Of accu-
mutation do not increase as rapidly as could
be wished. Indeed, at many principal points
stocks are actually decreasing. Last weeks
supplies OF contract wheat In this city alone
were reduced more than 100000 bushels.
The farmers continue to pull back, and even
In the spring wheat country they are not
rushing forward their grain with the eager
ness that was calculated upon. Trading
began on basis OF 7Sc for Decem-
Der, 771sc for September and SEC for
May. December, in which the most busi-
ness is done, settled back to 77Jsc and acted
very weak. 1t recovered its tone, however
on increased general buying, and the mar ket
slowly worked up to 7S1Sc. That looked
like the top for awhile, but the price, after a
little reaction, started up again. reaching
1890, and then with q whoop crossing 79c
and going up to 7916c. The top was a full
cent above early antlcipations. Opinion
strengthened that the preliminary estimates
would turn out approximately correct and
there was no disposition to regard them In a
friendly way. Then there was free cover
ing of shorts for local and New York &C.
count and rumors of heavy pur-
chase in New York for September
shipment. One report which had
believers, though it could not be definitely
authenticated, was that a single order or
1,00O,0OO bushels had been worked there. TO
this was attributed goodly proportion of
the later strength in the market. The clos
iEg of December was roc, net gain of &c
on the day. Seutember opened at T6c,
ranged at 76sd@1Sc, and closed at T%c.
August opened at 7Sc ranged ut 17sl(0l7S5sc,
changing over Of August wheat into Decem-
ber during the session. good business in
cash wheat was reported, but it was trans
acted quietly and to some extent under
cover.
The corn market, after a weak opening,
became firm, in sympathy with wheat. The
conditions were all favorable to the BEARS
but the shorts were nervous and sent prices
up. September opened at 35ssc, declined to
35A@859sc, then advanced s4c, and closed at
33Iz(G24c, which is nc Improvement on yes.
terday's closing figures.
The oats market was narrow, but prices
averaged shade frmer, with good business
noted in May around 23c. The posted re-
ceipts were less than anticipated and mod
crate inquiry existed, while there was no
pressure to sell. For August 20@2O1Sc was
paid, with next month a shade discount.
There was some demaud for No. white,
which is selling at 22Ac, and September at
22c No. oats to go to store sold at 20c or
1s@Ic Improvement.
In provisions the feeling was quite strong.
Prices were ut times somewhat irregular,
yet in ge neral trade the underlying tone was
far from discouraging for holders. Trading
was also fair, though good share of the fu-
ture business transacted was of q scaping
character. September, October and January
were again the tavorite months. Hutchinson
was the largest buyer of pork for near deliv-
cry, and in speculative lines lard appeared
to command the most generous support.
Cash buyers made very good purchases. AS
rule the closing prices all around showed
no important change from yesterdays final
quotations. September pork rested at q de-
cline of 21lc, while October and January pork
was advanced 219c, and cash and future lard
211@5c. Short ribs closed unchanged to sc
higher.