Omaha daily bee., 1889-08-23
THE SPECULATIVE MARKETS.
Fluctuations In the Most Active
Wheat Future Very Narrow.
DECIDED WEAKNESS IN CORN.
Oats Exhibit Considerable Activity
Fair Interest Manifested In r
vision Trading-No Life In
Hog Transactions.
CHICAGO PRODUCE MARKETS.

CHICAGO, August 22.-TSpecial Telegram 10
THE BEE. Nothing occurred to-day TO lift
the market out Of the rut into which II had
fallen. Fluctuations In the most active fu.
ture-Dscember-didn't extend beyond the
limits of &c. There were a few sales at 7T1sc
and q few at 7Skc. Most of the trading was
done, however, within the extremes Of ~
arse low, and 7S@7S4c high. September
ranged at 77I@17Ac and August at 77sI@
7Sc. Speculative operations were on q very
restricted scale and the market was desti-
tute Of exciting features. This sort Of
thing can not last long Of course, but opin-
ion is about equally divided as to whether
the "shake up'' will come in the form of a
break or a bulge. Gables were quiet as to
prices and unanimous on weather. There
have been violent storms throughout a large
portion of southern and west Europe, but as
yet no effect on values has been produced
thereby. The northwest keeps peltipg the
world with bearish views, but wheat is not
coming forward as rapidly as could be de-
sired, which is checking to a limited degree
the development Of radical bearishness in
Minneapolis and Duluth. The light move
ment appears TO be less due to rain than TO
reluctance on the farmers part to accept the
low prices now ruling. The bulls in wheat are
now pursuing aggressive tactics. AS a rule
they would not be adverse to low prices for
some time to come, feeling confident That
around current values a great deal of wheat
will go out Of the country and leave a light
load to carry during the remainder of the
year. On the other hand, the bears, while
strong IN their conviction that the market is
ripe for a break, are not disposed to venture
much, except their opinions, until the re-
ceIpts are so far over the shipments that
stocks will accumulate more rapidly
than they are now doing. While stocks
IRE light and farmers slow to sell
wheat, the short sellers feel that ~inaction is
the safest plan to pursue, hence the prevail
ing dullness in the speculative market.
The only feature in to-day's trading worthy
of note was the steady but not obtrusjve alb
sorption by Baxter and a few others OF offer
ings of December. This held the market
steady, though the temper of the mass of
operators seemed to be quite bearish. The
closing quotations were as follows: August
use, September T71sc. May S2Bc. These
figures mark no change of consequence from
yesterday. In the cash market a moderate
shipping inquiry was reported.
The corn market was decidedly weak and
1t was not until September declined to 343lc
that any considerable buying took place.
There was. however, more pressure from the
iOuBS uulOuuluB JDun u ueSTe eNlnCeu
by the shorts to cover, and the price
OF September declined to 3s11c and closed at
34E@35sc. May was conspicuously weak,
and from 369s@3G4c at the start worked
down to Soc and closed finally at the bottom
figure to BIC. Cause for the weakness was
another promised spell of warm, dry
weather, and of course the Improvement
of corn before frost shall appear to damage
1t.
Oats exhibited considerable activity in the
regular market after n half week of 6nllnpSS.
The feeling was weaker, but the decline was
unimpOrtant. Receipts were large the
weather favorable and with some weakness
IN corn fair speculative offerings appeared,
with little buying support except on the part
OF shorts. However, there was a good de-
mand for May at the inside price of 23&c,
with sellers generally at a shade above that.
September touched 2O(924c on the decline
and a fair business was done in white oats
at A@3c lower prices. No. 2 white
for August sold at 2i@25Ic, and
No. Q white, September, at 1875 20
2Sssc. with No. 2 white, October touch
ing 1890. Withdrawals from store were
only moderate and No. 2 regular sold at
201sc.
In provisions a fair interest was mani
Tested. Pork and lard particularly attracted
considerable attention, and in the first
article the little difference lately existing
between near delivery and January was
Widened to quite a premium on the former.
In forcing this change the most active party
was INC lcaulnB packing companies, JnoQBn
it was also helped along by the covering of
shorts. Lard was unusually weak, and
touched the lowest prices so far this season.
Short ribs were steady, with small changes
and limited fluctuations. Shorts were larger
individual buyers all around. Outside spec
ulative orders again made a poor showing.
Based on yesterdays quotations, September
pork closed to-day nc higher, September
and October lard l0c lower, September and
October short ribs 216c lower, October pork
2hc higher, January pork re lower, Jan
uary lard sc lower and January ribs nc
over.