Omaha daily bee., 1889-04-25
THE SPECULATIVE MARKETS.
A Moderate Reaction in the Wheat
Pit To-day.
A ElRMeR TONE IN CORN TRADE.
Oats Quietcr THIN for Several Days
No Change of Consequence In
Provisions-Cattle-
Hogs.
CHICAGO PRODUCE MARKETS.

CHICAGO, April 2.-ISpecial Telegram TO
THE BEE. With everything as favorable
rs besore for a continuance of the downward
movement IN prices there was moderate
reaction. The weather was all that could be
desired from the standpoint OF the farmers
friends and the foreign markets were Of the
now stereotyped despondipg character.
Beerbohm's figures on the quantity of wheat
on ocean passage was about the only item in
the early bulletins from which comfort could
be drawn by the bulls, although the decrease
which was at first reported was afterward
materially reduced, the error having in the
meantime been discovered. The first dis
patch reported decrease of 2, ,552, 900 bush
els, the corrected figures reducing the guam
tty to shortage of 1,0l6,0U0 bush
els. The report from the board of
trade statistician made out an increase
OF 1,040, 900 bushels, "a rather wide difference
between the two computations. The bulls
were in more desponding mood to-day than
the bears, some of the heaviest weight of
the latter being heavy buyers of large guam
titles, taking profits Of course There were
said to be orders in New York for consider
able quantities, but Mt prices somewhat be-
low the present level of prices. The exports
Of wheat from the seaboard were light, but
between New York and Baltimore 81, 900
barrels of flour were cleared yesterday, and
Mt this point there was some movement of
wheat, the steamer Algonquin being char
tered today to take out rs, 900 bushels. This
latter circumstance and the report of some
little export business having been worked mt
New York (three boat loads) was the cause
of the firmness towards the close. There
was considerable amount of
business done and one or two
of the most prominent houses, who
usually act rs brokers for the big bear con-
tingent, were heavy and persistent buyers oil
day. Some reaction apparently would not
be disappointing to parties who are fond of
hard spots to sell on. The fluctuations were
narrow, July playing between 7Sasc and 7S@sc
the greater part of the session, although it
touched 77}sc early in the day and 7Ss4c
ing price for July, 7S19c, is nc improve
ment on the final quotation yesterday. May,
however, only gained 1sc over yesterdays
Price, closing at SOl4c.
ket, induced at first more by the steadier
feeling in wheat than any other visible
cause. The domand for cash corn for imme-
diate shipment was up to its now usual activ-
ity and prices for the grades Immediately be-
low No 9 were firm and trifie higher.
The export clearances from the Atlantic
port were liberal, and from New Orleans
81, 900 bushels were cleared yesterday for
Liverpool. There appears to be great
many outstanding contracts for May deliv-
cry, as transfers from that month to June
and July at the prevailing differences are
quite frequent, good deal beng done in
that way to-day. Heavy engagements of
vessel room amounting to 3S3, 900 bushels,
was the cause of some strength near the
close, which was firm at or near the best
prices of the day. The closing prices all
round show q gain since yesterday OF about
nc per bushel
Oats were more quiet than for several
days previously, large part of the time
ruling actually dull, with general firmness
noted. There were some changes of May
into the longer months, and while the de-
mari tor oats for account Of the shorts was
only moderate, there was no pressure to sell,
with the buying by the elevator houses tend
ing to support the market. May sold around
225S0229Ic, with June at 14@3sc premium
and July dull. The receipts were only
moderate and the sales of car lots were
chiefly at 22l4c.
The provision traders found it a little diff
cult 10 keep alive much interest in that
market. There was considerable doing in
the pit, but the trading INDUCED in was con-
nected largely with the disposition of the
May holdings or the transfer of May con-
tracts to July. The days new business was
simply too restricted to have any significance
for the general run of the traders. The trade
was uninteresting and there was no change
in the situation TO cause any comment Pork
and snort ribs continued Yesterdays deprcs-
sion, and from the former prices suffered a
- further decline of 5QQ718c and for short ribs
of nc. Lard showed more strength than
its companion articles and closed unchanged
IN Zs hiphar