Omaha daily bee., 1889-01-26
THE SPECULATIVE MARKETS
5'9sat Strong at a Higher Range
of Prices.
CORN AT A SLIGHT DECLINE.
Trading in oats Light--Provision
Still Bearisbly IncItned-Cattie
Business Averaged Quiet--Hogs
Lower, Fair Demand.
CHICAGO pRoDuCN MARKET.

CHICi 60, Jan. % Especial TELEGRAM 10
TBE BEE. The wheat market averaged
strong at a rather higher range Of prices
than yesterday, though IL had dreadful fit
OF sickness early on report that the agri.
cultural bureau had issued a bulletin noting
a per cent increase in winter wheat acre
age and an improvement in the condition as
compared with December, 1857 On this be-
lated and crcuitously conveyed information
wheat for May delivery was sold down from
91l1c to $3.50, and the crowd was punched
on the top when the bottom was reached.
The warm weather seemed to give every
body courage tc sell. 1t only needed that
government report TO satisfy good many
people that largely increased quantity of
wheat was going to be harvested from
an enlarged area some time in March or
April. Later. when the weather prophets
began TO predict the near arrival OF polar
wave, the scalpcrs thought that harvest
might be deferred two or three months and
they set about covering with considerable
industry. There was also no little good
general buying for "long account" and the
result was a strong advance, which ult-
mately carried the price to 9Sl5c, rally of
2lec from the point of greatest depression
May wheat opened at 91i4M91l4c, sold Off to
TO H4m9iasc, sold off TO 9GTm97c,
advanced to 9I9Ic, fuctuated for good
while between 9iasc and 97Ic, advanced
to 9Sc, receded sc, rose to 9Sl@c. and closed
al 9s36c, a net gain on the day of &c Febru-
ary closed at 94}Ec, and July at S9]Sc, which
was the outside Cables were rather better,
but nothing was received from the seaboard
indicative Of a furious clamor for our wheat
for shipment abroad. 1t is well to note,
however, that the clearances from the Allan
tic seaboard for yesterday in wheat and -four
foot up to ZOO bushels, and that n little
wheat went out from each of the principal
ports. The receipts at Minneapolis show an
increase, but at all other primary points they
are very small, while the shipments
indicate steady, though as yet
not large interior milling demand. Country
millers are not such rampant bulls as they
were when they were loading up with wheat
last fall, but they confess to a depletion of
stores and Il possible scarcity of wheat,
though they are not displaying as great
alarm over the prospects as some of the bulls
in the wheat pit There appears to be new
blood in the wheat market, and the strong
local people who have been riding the market
down are now arrayed on the other side.
This list includes such men as Cudahy, Kent,
Bloom, Ream,, Driver, Linn and possibly
admits that it is glad to have |
their assistance and that of their
following. The general crowd is still bear |
ish but the buying for the last day or two |
due to say too, that very few of the broad |
guage bulls are now seemingly anxious for |
a speedy advance III values They acknowl- |
edge that one palpably weak spot in their |
line is the large stock of wheat in New York |
." i they want to see it reduced. New York |
rather led Chicago most of the time today,
which is not an unhealthy sign. Locally,
Switzer was the heaviest buyer of wheat to-
day, and Fairbank was quoted as liberal |
purchaser
Corn was firm, and the demand was good
in Liverpool to-day, according to the cable
reports of that market. Export clearances
were very heavy, and the demand on foreign
account at New York and Baltimore was re-
ported as being limited only by the tonnage
offerings. With wheat and corn shippers
both looking for vessels an advance in the
freights may result, which wonld neutraize |
TO some extent the moderate advance in the
foreign markets The receipts here were 81
cars in excess of yesterdays estimate but
there being only three cars of No. >, the gross |
excess brought no satisfaction to parties hav-
ing outstanding contracts for delivery in
February and March. The estimates for
tomorrow are 256 cars. The day was
a dull one in the corn pit, like
many of its immediate predecessors,
and in the end prices were somewhat easier. |
The fluctuations were very narrow, and the
business was confined to the local operators,
and there was less anxiety among February
and March short sellers, although they were
not entirely easy. The closing figures show
about sc decline from yesterdays closing |
quotations
Trading in oats was light There was no
disposition to press sales, and while the de-
mand was small, firm feeling was obtained, |
and bids on near futures were advanced
fraction without calling out any special
business. May was in moderate request
around 211ac, with the interest confined
chiefly to local traders. The receipts and es-
mates were fair, while the stocks exhibited
no special reduction. No. 2 oats in store
were quotaby steady at 24$4c, with the sales
principally by sample.
The provision trade was again bearishly |
inclined. The rather fair receipts
Of hogs encouraged the weakness
previously prevailing, and on the ap-
pearancc of sellers the product |
resumed its old down hill course. Lara was
stronger than either short ribs or
pork, as it was evidently supported more or
less by the English houses, yet something of
n decline was suffered all around. In pork
the DAYS actual depression was 221S@25c, in
a IN ribs ~ and in In rb |