Omaha daily bee., 1889-04-13
The SPECULATIVE MARKETS.
Wheat Business In a Mixed Con-
dition.
CORN CLOSES AT SMALL ADVANCE
Another Active Day In oats-Provis-
ions About Hold Their Own
The Cattle Run Contin-
ues TO Increase.
CHICAGO PRODUCE MARKETS.

CHICAGO, April Especial Telegram to
The BEE. Satisfying rains over the major
portion of the winter and spring wheat areas,
and the low barometer in the extreme north
west, where drouth mas caused some appre-
henson, and the discouraging cables, caused
weak opening in the wheat market but as
the decline induced quite number Of local
shorts to accept the profits and offerings on
The break were not excessive. The market
soon steadied and showed signs OF reviving
strength. The May future was bid up sharply
by Mcdonald and others, July future selling
rapidly up to S34c after the room traders,
who were short, had covered, and the out
nde tmarkets evinced no indication Of re-
,ponding to the advance. The demand
ibated, and a short period OF inaction fol-
owed. There being nothing in the situation
TO alarm the larger shorts, the offerings
gradually increased, growing in volume as
the market declined, until food of
long and short wheat deluged the pit The
chfef reliance of the bull party has
been the oversold condition of the July fu-
ture, but as the short interest is mainly pro-
fessional and financially strong, they are not
easily frightened into covering the new crop
delivery, with such splendid promise of an
early and abundant season. There were
vigorous sellers on every hard spot, until
July touched size, and much long stuff
Oub VII tuc why uoWh. iho iiiui hSo up-
peared to have some recuperative powers
when free from the pounding of the bear
leaders, but after working back to S216c, the,
final onslaught by the Jones-kennett crowd
forced the price to Sl94,0Sl%c. There were
ANXIOUS shorts in the old crop futures, and
confident bears in the new, and while the
former bid anxiously for what was very
scarce article, the latter opened the sluices
and about drowned the market with July
wheat. The closing prices showed the result
Of this mixed condition of affairs, May and
June gaining from lHc to 19sc, while July
closed 1c lower than 1t did yesterday.
The market for corn opened steady, and
under the fair demand advanced and caused
some uneasiness to the shorts, who were in
duced to buy some When their wants were
supplied the feeling became dull and prices
tritie easier Shipments by lake are now
likely to reduce the stocks here, the outward
movement to-day and yesterday being on a
liberal SCALE The foreign markets continue
TO be quoted steady to firm for American
corn, and orders at the seaboard on foreign
account are reported to be equal to the Offer
ings of vessel room, There was less activity
In trade than was the case on the two pre-
ceding days, and the business done was like
wise largely on local account. The fiuctua-
tions were narrow and in the end only a
small fraction in advance Of the closing
figures of the day before.
In oats another active day was
noted with a full cent decline in May
the feature of trade. The recent weak
ness in this cereal evidently brought out
lot of stop ORDERS, where mar
gins were exhausted, and as result
there was to-day general selling by the
crowd. After the steady opening at 251lc,
May declined to A36c, owing to a lack Of
support aside from that given it by the
shorts. There was a sharp demand around
the inside, with liberal business recorded on
the down grade. 1t was not generally be-
heved that the clique were doing much.
June and July were quiet and relatively
much steadier than May, while cash oats
shared the weakness, with No. 2 regular Of
fered late IN the day at 24c.
Provisions about held their own The
days range Of prices was pretty much the
same as that of yesterday. The fluctuations
were limited and the actual changes made
ribs, in fact, were quotably unchanged at the
close, while in lard the final quotations indi-
Gated decline of only 2Hc.