Omaha daily bee., 1889-04-18
THE SPECULATIVE MARKETS.
Hutchinson Looming Up In the
Wheat Pit Again.
CORN CLOSES ABOUT THE SAME.
Oats Active at Lower RRngc--A
Nervous Feeling In Provision
Cattle Dull With Fat
Steers Lower.
{ CHICAGO PRODUCE MARKETS.


CHICAGO, April 17.-[Special Telegram to
JnE BEE. -Four traders out Of FIVE looked
for an easier wheat market to-day, chiefly on
account of the brilliant weather The mar.
ket was, therefore, a disappointment to the
minority, for prices averaged higher than
yesterday, though the weakness toward the
close was partial vindication OF the views
entertained by the masses. To Offset the
bearish influence OF the weather, the dull
cables and the prcdispostion on the part of
The trade to sell wheat, a marked and gen.
eral activity in the cash and shipping trade
was noticeable. The out movement of wheat
and its product from nearly every important
point of accumulation east and west was
very free. The seaboard clearances OF wheat
and flour amounted TO about 225, 900 bushels,
and the shipments from the western points
were nearly as heavy. This port started
over 100000 bushels out, and il was stated,
On good authority, that last night
10000 bushels were in the hands of
.he shippers ready TO move. This morn
ing 1851 0O0 bushels additional went into the
same category in one block, ana Harper
was quoted as having disposed of the re-
mander OF the wheat in store in the Pacific
elevator. One cargo was sold for delivery
m New York at sl02, or ice above the price
Of No. red at that point. 1t brought &c
over the May price in Chicago. The move
ment OF wheat seems to be general and le-
Ultimate, though as is usual when wheat
''gets move on'' this way, stories are afioat
that the property IS being forced along by an
artificial agency to give to the market the
appearance of healthful activity, not war
ranted by facts. In this case Hutchinson is
mentioned as possible motive power, he
h,A,, L.n. F.... Al.
hat wheat must be moved out" if prices
Are expected to advance Gables were very
luiet and in some instances lower. New
York, however, sent good many dispatches
Indicative of q foreign interest in the market
there. Several parties stated that there
we're foreign buying orders in forjgood round
OTIS very close to the market. From other
sources 1t was learned that several lots of
New York wheat shipped to English ports had
arrived in coed and satisfactory condition
This about wheat that has been commonly
blackguarded from one end of the world to
the other, may be considered good point
Northwest is very steady at arouna the
current quotations. May wheat opened at
&14c, sold off to Ss1sc and up TO S014c, closing
1t SSa4c. The range for June was SS@S9llc
and the close SS96c. July opened at Sc sold
up TO SIC and back to S23sc, closing at S23Gc
The advance from the beginning was steady
and strong, and without important backset,
bc being the greatest reaction. At S3c the
offerings became larger than the market
roud stand and it slowly yielded. During
The middle of the day business was exceed
lngly dull, and n similar state of affairs ex-
lsted AZ the other points, Judging from the
complaints that drifted over the wires. Dur
ing the last hour there was far resump.
lion of activity on declining scale of values,
and the close was soft at only "spllt' above
yesterday for July and MCn@Gc above for
May and June. Hutchinson was quoted by
ong odds the heaviest individual trader, his
operations being on the long side.
The Improvement in wheat and the firm
ness of the foreign market were the causes
Of some strength and higher range of
prices for corn. The demand for cash corn
Tor shipment was active, and prices were
advanced for the lower grades which ship
pers prefer at the present Mt the difference
In price which exists. The quotations of
choice No. 3 and No. yellow are, however,
now close up with No. 9, and the latter grade
will doubtless be wanted by the shippers
when its better keeping qualities come to be
an object. The most encouraging point is
the steady continuance of the demand for
export Notwithstanding the heavy ship
ments. Trading at times was fairly active,
and the demand from the shorts was good
until May reached 35c, when the offerings
became heavy, and toward the close business
was dull ana the early advance was lost,
with the closing price substantially the same
as on the previous day.
Oats were active, with large speculative
business recorded at n lower range, the mar
keI ueCllHlnB t2W1sC from Jne OUTSIDE prices.
Early in the day there was some demand
from the May shorts, probably induced by
the recent free outward movement of cash
pats and the feeling was rather firm with
May at 2413Q1245Sc, and June and July at
about sc discount. The crowd was soon
filed up, and with the increasing Offering of
all the months, lod by a number of heavy OPP
orators, q down turn was inaugurated to
e31sCe24c for May and June. IL was believed
that the Milwaukee crowd, which had been
recently endeavoring to sustain this market
In order to sell in New York. has again en-
tered the lists here, and is endeavorng to un-
load its holdings at rs little loss as possible.
Marked activity was noted at the inside
prices, with cash oats quiet, and quotable at
The close at 1884 @1231sc for No. regular.
In provisions the feeling was quite ner-
vous They advanced and recedcd easily,
and were consequently subject to frequent
changes. The fluctuations however, were
confined to more moderate range than
might have been expected. In pork they
amounted to 2116 @30c; in lard to 215@5c,
and in short RIBS to l219c. The shorts COW
cred pretty freely, and the spurts of firm
ness shown at times were due more to their
buying than to any other cause. Cudahy
and the other well known bears showed an
Increased disposition to sell, and prices all
around touched higher point than yester-
day, though the closings were lower. The
lays actual decline in pork was 10c, ana in
short ribs l0@l211c. Lard closed unchanged
10 shade easier,