Omaha daily bee., 1889-08-10
THE SPECULATIVE MARKETS.
Prices in the Wheat Pit Show 9
Downward Tendency.
CORN DULL AND FeATuRELEss.
A Good Showing OF Strength Wit
messed in Provision Trading-An
Active Demand For Good
Cattle-Quotations.
ncBIoAoo PRODUCE MARKETS.

0CBICAGo PRODUCE MARKETS.
CHICAGO, August 9.-TSpecial Telegram TO
THE BEE. Wheat prices inclined down.
ward to-day, though the decline was not i'm
portant, viewed from purely mathematical
stand point, only amounting to A@9Sc. The
news was bulish for the most part The
foreign markets were quoted as strong and
higher on unfavorable harvest weather, and
advices from the spring wheat country
chronicled too much rain there. The de-
mand for cash wheat is still urgent, but the
table Of receipts and shipments at principal
points is beginning to tell the story Of accu-
nulutng supplies at the principal centers.
This circumstance had "A depressing effect on
the market. as IL also had on speculation as
TO the contents of tho government report
due tomorrow The prevailing opinion was
that the government bulletin would be ex-
ceptionally favorable, not only to wheat, but
other crops as we'll, all foreshadowing u year
Of extraordinary agricultural prosperity
The usual story was afoat that digest Of
the agricultural departments finding had
been obtained by Wall street house with
intimate Chicago connection but this could
not be verified in any particular, and was
voted canard The farmers Reviews
l65, 100000 bushel spring wheat esti
mate, though trihe stale, came
in for more unfavorable, criticism,
and the verdict reached on that matter was
that the Reviews statistician was mere
idle guesser working on insufficient data.
Then wild rumor held the floor for while
that some indefinite authority had discovered
that the threshing returns clearly indicated
winter wheat crop fully twice as large as
had been commonly figured. This was filed
away like the other news It'd bits and for
gotten. Not so the reports that circulated
among the best informed men on the board
that foreigners were buying heavily in Chi.
cago, St. Louis and Duluth for August and
September shipment. This was one of the
important news features Of the day, but
owing to its limited circulation, chiefly
among the non-speculative classes but little
effect was produced on prices. How much
has already been bought for foreigners there
is no present means Of knowing, but large
orders continue to come in daily to buy Au-
gust or September 'for shipment" ?"
keeps Hutchinson bull when
nearly all the speculative element Is bearish
or weak in their friendship for wheat. Open
ing trades were on basis of 1611(Qi61ac for
for December and $3.50 for May. August
worked up to 76>Ssc, December to 7sssc Gust
touched), and May to S21Sc. Thereafter
until nearly the close the market dragged
and dropped, and but for Hutchinson's sup.
port of December at and under 1Sc the whole
list would have most probably gone consid.
cradle lower. AS it was, August got to 7616c
September to 76c December to 7T1sc, and
May to s211c. There was fractional recov.
cry at the end, August closing at 7614c, Sep
fau hor NIT n hpr Mt Mo-
left Off at the bottom-S214c.
The corn market was dull and featureless,
but leaning slightly towards lower prices.
Fluctuations were narrow and outside bust
ness scarce. The main support to the mar
ket was rs it has been for some timc back-a
good demand from shippers for tho cash
offerings Cables, which have almost uni
formly for months favored the bulls, were
discouraging day. Scalpers were the chief
bidders, but even they were not inclined to
do much. September opened at 35l4 4(935J7sc,
closed at $3.50.
Oats We're active and weaker to 3@1lc
lower. There was good demand, but the
heavy receipts, coupled with the estimated
arrivals for tomorrow of 405 cars, called out
liberal offerings. No. white oats for near
deliveries were active, with August at 2416C
and September at 24ssc to 24A@243sc. May
oats sold down to 2414c and September to
2O4c. Withdrawals from store were small
and fair trade was noted in car lots of No. Q,
chiefly to go to store ut 20I(c, or Nc decline
The feature of the trade was the reported
demand at New York for oats for export
Business was restricted, however, as ocear
vessel room was scarce and and freights in
terfered with the movement.
In provisions good showing Of strength
was witnessed Larger receipts of hogs than
were expected made the bears little agres
sive around the opening, but their rule was
only temporary. The depression forced by
their selling was short-lved and on the sub
sequent recovery prices advanced 10 q leve
higher than that existing previous to the
break. In the general range the underlying
feeling was certainly strong. Operators
adhered closely to their late policy in trad
ing. In all departments, however. quite
good business was transacted For cash de-
livery 1850 tierces Of lard changed hands al
$885@6.45 and also fair amount Of meats
A sale of 100000 pounds of 16-lb. green hams
to be delivered in November and December
was reported at 800. A car load Of l6-lb
sweet pickled hams were also sold for Sep
tember delivery at 9I4c. The speculative in
terest developed was again confined to Sep
tember, October and January. Compared
with yesterdays tinal prices, pork at tn,
close Of change stood unchanged to &c higher
and short ribs unchanged to 71<c higher.