Omaha daily bee., 1889-06-06
THE SPECULATIVE MARKETS.
An Upward Turn Favors the Bull
Tide of the Deal.
GxPoRT TRADE REPORTED LARGE
Nothing Much Doing in Corn and
Prices Varying Littic--A DuIlness
in Oats - Provisions Rule
Firmer-Cattle Fair.
CHICAGO PRODUCE MARKETS.

CHICAGO, June 5.-fSpecial Telegram to
THE BEE Wheat did better, te-day, for
variety Of reasons. The local features were
bullish. A far degree of activity prevails in
the cash market, and Milwaukee reports the
working of 5000 bushels for direct export.
Clearances from all the lake ports indicate
genuine business, and New York advices re-
fleet considerable activity in the export trade
at the seaboard From the southwest there
are, however, advices of continuation of
generally favorable harvest conditions,
though a few showers in southeastern Kansas
are reported. One of the private wire houses
have cable TO the effect that it was raining
copiously in Russia. This piece OF
news was received when July was 76l4c.
The market broke to 1890 on it,
but it declined to stay, and was not long
working above 76c again. July wheat opened
at 1515c, advanced to 76l4c, worked &c back,
S6SGc, regained lost ground and went to T61Sc,
very little being done at the outside, how
over. The price started back rather sharply
several times, and the market acted as though
1t wanted to settle at T6c, but the buying
fever was on, and rallies were as sharp and
frequent as the feverish down turns The
operations in the pit were on large scale,
and for once the shorts and the eleventh
hour bull scalpers were not the only buyers
There was good buying by commission mer-
chants, and the generality OF local opera
tors, and the market had stronger and
firmer undertone than it has shown in many
weeks. And frmness is not confined to Chi
cago. 1t ruled to marked degree in every
market in the country with the possible ex-
cepton of Minneapolis. st. Louis is at last
on an even keel with Chicago and Toledo.
New York and many other points usually
led Chicago in the up.turn. There were no
notable individual transactions in the mar
ket, but a generally increasing interest in
the market is being manifested. June wheat
had quite a little boom here to-day. 1t
opened at 16c, advanced to T7Nc, reacted to
nc, and closed at 71]Gc. September ranged
at T414 14@751sc, and closed at 751sc. Decem-
Der was active. 1t opened at 76c, sold up to
77Ac, and closed at 76Tc. The closing
range indicates gain of nc IN June as
compared with yesterday; / sc in July, &c
in September, and lc in December.
1t was altogether IA tame and featureless
corn market, and closed up in the nervelesS
manner which was its main characteristic
all day. The price changes were tritlng,
and were, as far as there were any, IN
favor of bulls, July, August ana September
gaining 1-l6c over yesterdays closing
figures. The small receipt of corn, com
pared with the outpourng of week ago,
was the principal cause of the tirmer feel
x.
Atlantic were encouraging in their magnl-
tude, while the Withdrawals from store
were also heavy. The strength in wheat
helped to stitfen the views of holders and
work upon the fears of the shorts, but there
was no activity in business. There was a
good deal OF changing of deals between July
and September the local Spectators look
ing for these months to sell at the same
price before long
Oats were duller than for several days
previously and the speculative prices were
confined within &c, range, ruling prac-
tically steady to firm. There was moderate
changing of this month to July and Septem-
ber at differences of &c to &c, and &c
respectively, while new business was light.
The posted receipts were less than expected,
by 45 cars, but the weather was favorable
for the new crop, and the reserve stocks of
old are still liberal. June sold at 2lTGt22c,
touching 2l91c with next month at 2214 00
223sc, and September around 229sc. No. 2,
to go to store, sold at 21s4 4(921Tc.
In provisions there was Il little more STIR
and interest There was no greut change in
the general situation, but the buying of
short ribs and lard by brokers, SAID to be
operating for a couple of large houses, Gre
ated considerable uneasiness Wright, it
was claimed, covered over 100000 lbs of
short ribs, and this action induced other
shorts to follow suit in the same articles.
Some short lara was also bought in, but in
pork there was no trading possessing sig
niticance. In point of actual activity, pork,
in fact, was the slowest line from the start.
The underlying feeling was somewhat ner-
vous, though the fluctuations in prices, all
around, were confined to quite narrow
range. The days prices, however, were
higher than yesterdays, For pork and
short ribs the closings showed an actual ad
vance of 121ac to l5c, and for lard of 2114
To &c