Omaha daily bee., 1889-06-01
THE SPECULATIVE MARKETS.
Wheat Not Influenced By the I'm
favorable Weather Reports.
GREAT COMPLAINT OF ouLLNess
Corn and Oats CLOSED Yesterday q
Trife Higher-Provisions We're
Unchanged-Cattlca and
Hogs Improved.
CHICAGO PRODUCE MARKETS.

CHICAGO PRODUCE MARKETS.
CHICAGO, NAV 3l.-GSpecial Telegram to
THE BEE. THE wheat market had vigor.
Gus start this morning on storm news; and
July, which opened at 785Sc, advanced to
771Sc, with excellent local and general buy
ing Suddenly lot of wheat from SOME
source came on the market and there was a
pause Then Linn sold q round lot and
values began to ease Off This dropping OF
values was noticed first in cash and June,
which opened NC to &c lower than Wednes-
days closing. There were sales of May at
NC and of June at 711Gc. This end of the
market rallied presently, and during
large part of the session it held
steady around 71Ac, with sales as
high as 7sH. The tone of the
market lowered after the speculative
atmosphere cleared a little, aud there was
very light business passing. Storm reports
formed the chief theme of conversation and
discussion. A study of the weather map re-
voaled the fact that the storm of yesterday,
last night, and to-day, did not extend over
the northwestern or spring wheat area to
any extent, and that it did not extend south
west far enough TO damage the wheat which
is approaching the last stages of develop
ment. Throughout the territory where the
rain fall was greatest, wheat may perhaps
be IN position to stand storm without in
jury; such, at least, seems to be the con-
cuson reached Crop reports from the
northwest are not favorable, however. AS
10 actual wheat 1t keeps coming in mode
rately, at Minneapolis and other primary
points, and it does not go out of the country
moderately; even while some consumers are
buying from hand to mouth. This gives to
the whole list an appearance of weakness.
This may only be dullness, after all, for
prices are dragging along in about the same
narrow groove now as they have for q month
past, but in speculative sense, dullness has
come to be understood as term synonymous
with weakness. July wheat sold down to
763sc, and for nearly two long hours the
price hung from 765s976s4c, with the trad
ing only between the scalpers. Along towards
o'clock the market slipped down notch.
but halted at 76as@161Sc, and rallied frac-
tionally, closing just shade above The bot
tom, at 76Ssc. There was some life in De-
cember and the year wheat, but not
much. The December range was 1880
1890, and the close was 1850. Other
months closed at 7T9sc for May and June,
7456c for September, and 769Sc for Decem-
ber. AS compared with Wednesday, the
final price showed u very slight advance on
the entire list, except May and June, which
are ss(G1Sc lower The wires did not work
time for posting; and communication with
other sections of the outside world was more
or less interrupted. The few private cables
received indicated no change in the situation.
There was universal dullness in the do
mestic corn markets, and, though there was
more outside buying than has been seen for
some tiIne the nervousness OF the short sell
lers was the most stimulating factor IN the
= speculative trade. May delivery was in es.
pecially goou demand, near the opening but
when the cash offerings came upon the mar
ket it quickly dropped to the level of the
?, price for carloads. The net gains for the
5 day were from &c. on near deliveries, to 14c
on more remote.
In oats liberal speculative business
was recorded, at prices averaging &c
to 14c higher than Wednesdays close
The elevator men were free buyers with
moderate demand noted for account OF
the shorts. There was no pressure to sell,
as the strength in other CEREALS consequent
on the continued cold and wet weather was
reflected in oats. The attempted corner in
May long since retreated and the month
closed featureless aside from the fact that
it was about 14c discount from June The
last named sold as high as 221ic, later ruling
easier, with July at 29s4(a223Sc, and Septem-
Der selling as high us ss1sc No. oats to
60 to store were quiet and about 14c higher,
at 2292218c. The posted movement was de-
creased in volume.
Provision traders were in waiting mood.
1t being the last day of the month, they were
disinclined to branch out, until the changes
incident to the opening Of the new month
were made. Deliveries on June contracts
appear to DC an uncertain factor for the near
future, while the monthly stock showing is
receiving more than passing attention. 1t is
pretty generally believed however. that the
amount Of pork on hand in this city at the
present time approximates 100000 Dbls; of
lard, 27,000 tierces, and of short ribs,
2S,CGo,O00 lbs. In to-day's trade there
was no life Some old deals
for near delivery were settled, and contracts,
TO a moderate extent, were transferred, but
business was slow. Outside orders of all
kinds were notcably small and of little con-
sequence. For cash delivery the buying was
also moderate. Compared with Wednesday
last, the cosings were unchanged to &c
higher for pork; unchanged to 215c lower for
lard, and enc easier for short ribs.
EnlCAlsn I.INE EEnnH AaRu Er