Omaha daily bee., 1889-08-07
THE SPECULATIVE MARKETS.
Wheat Prices at Present Controlled
BY Reports From Europe.
CORN SHOWS MORE STRENGTH
Oars Exhibit Considerable Animation
and Firmuess- Again
Maintain Their Upward Tend
ency-Cattle Trade Active.
CHICAGO PRODUCE MARKETS.

CHICAGO, August 6.-tSpecial Telegram 10
THE BEE.l-This market appears for the
present 10 be at the mercy OF reports from
Europe and they to be hinging on the preva-
lence or absence of rain In England. Re
ports came in q variegated form to-day-first
stormy weather and higher prices, followed
later by clearing weather and drop of 40
Id. Scalpers blndly followed the lead here
Indicated, the market opening firm at
small advance and later closing tame at SO
decline on December delivery and &c on
seller month. Indian shipments TO the United
Kingdom and the continent of Europe during
the past week were only 5000 bushels all
told, but though the much heavier movement
the previous week was used as q bear club at
the time, the reverse statement published to-
day passed by unheedcd. II was narrow
market, holding within n range of 1880
1890 for December and 7707756c for this
months delivery, closing near the bottom in
both cases. There was some strength but
not much life in the market at the opening,
which was &c in the active future over its
closing price on the previous day. A deci-
dedly strong market at Liverpool was the
cause If the advance, and the firm
,ess & hat market was de-
fived Is its turn from the wet
inson was feeding out all the 79c and i916c
wheat the market would take, which action
on his part kept scalpers who were inclined
to be bullish from forgetting that if foreign
ers required wheat this continent had
brand new stock of excellent quality for sale
on reasonable terms Dispatches from the
northwest claim the heaviest crop of spring
wheat for Minnesota which that state has
developed in years, and ridicule the reports
of damage from frost aud rust
which have obtained some cIrcu-
lation. Late cables from the board of trades
correspondent quoted the market at Liver
pool as closing firm, but numerous private
dispatches reported decline of from S4d to
Id on clearing weather. and 1T was this
which, with Hutchinson's assistance, neu-
Lralized the effect of the bull dispatches
chalked upon the bulletin boards. The free
outward movement of new wheat Is en-
couraging feature of the trade at present
The corn market showed a little more
about &c better than it closed yester-
DAY and May about &c better. The
shipping demand continues active and
offerings were readily absorbed and the
cool weather and the already backward con-
dition of the crop causes some little nervous
ness among the shorts and there was some
efforts to cover, which caused steady,
strong market most of the session.
Oats exhibited considerable animation and
frmness with speculative trading at A601Ic
Improvement. Receipts, though large were
less than expected and grading was only
far, with but 6S cars of contract in
total of sol inspected in. The impression
prevailed that the market had been
somewhat oyersold during the proceed
ing three days, and there was
general buying with September, October
and May the favorites The last named sold
up TO 24$sc after opening at 24ssc, and next
month was in good demand around 2ONc.
No white for August sold at 242lc and No.
white for September at 241lc. No. 2 reg
ular was in fair request at 209Sc.
Provisions were again strong. The i'm.
proved feeling lately developed was moro
than maintained and prices all around
reached higher leve than that of yester-
day. Hog arrivals fell short of expectations,
the prouuct was offered only moderately for
sale, and the surroundings of
the market rather favored the
bull side. Tho shorts also
considered il wise to protect their outstand-
ing lines and bought freely. Outside buy
ing, however, showed little or no increase.
For cash delivery lard sold to the extent of
500 tierces at $6.3219, and siNteen-pound
sweet picked hams to the amount of two
carloads at 9s4@91sc Cash dry salted meats
were taken sparingly by shippers on private
terms. Speculative interest was confined
mainly to September, October and January
Future product closed for the day at an ad-
vance, compared with yesterdays last quo
tations, of 21I@D7I5c for pork and G@lOc for
lard anC short ribs.