Omaha daily bee., 1889-06-11
THE SPECULATIVE MARKETS.
Wheat Takes an Upward Turn On
Weather Reports.
olscouNTINe CORRESPONDENTS
Coru is in Better Tonc-Oats Higher
ana Provisions Decidedly Dull
Good Cattle Advance and
Hogs Better Prices.
CHICAGO PRODUCE MARKETS.

CHICAGO PRODUCE MARKETS.
CnIoAao, June 10.-ISpecial Telegram to
The BEE. THE wheat market opened strong
and somewhat higher on weather news con-
strued to be unfavorable to harvesting in the
southwest and to the development Of spring
wheat in the northwest. Too much rain is
urged in the one case and not enough in the
other. juno rose from 79llc to S0l6c, July
from IN to 7716@775sc, and December from
771sc to 7735c. Unconfirmed reports of ram
n the Red River valley and rather more
scnialty in the prevailing temperature gave
bearish tone to the market, and thereafter
the tendency of prices was TO decline. The
market eased off about s4c, and at the de.
cline did not display any vigorous powers Of
recovery. The visible supply showed de-
crease of 1,3l3.0OO bushels, which, though
large was below the expectations, The total
is now down to 1s,S92932 bushels, against
25, ,753, 900 bushels year ago, and AZ 1900
bushels two years ago. The Chicago stocks
are only 3,065, ,00p bushels, all held; and New
York stocks are 3,312,00 bushels. The ex-
ports Of wheat and -four from the Atlantic
ports for the last week foot up 100000
bushels, against $40 900 bushels for the cor
responding week last year. The clearances
from New York to-day were 1S1, 600 bushels,
and anywhere from 10 to Is boat loads were
reported as NEW business" Gables were
dull, but decrease Of nearly 10000 bushels
in New York stocks, in one week, indicates
the existence of a tangible foreign demand
for the property. In the local market q fair de-
mand for cash wheat is reported, and the prop
erty is firmly held at the material advance
from the prices ruling a week ago. st.
Louis fired in grist of bear news, and re-
nOrtad active demand from country
points for sacks to store wheat in, one firm
reporting the shipment of $4,000 sacks last
week. Cash wheat is firmly held in st.
Louis however, as well as elsewhere. Crop
news from the northwest are of contra
dictory character, but the weight of testi-
mony supports the theory that the Red river
country is in urgent need OF rain, and that,
at best, only an average crop of spring
wheat can be raised. The Minneapolis
market is well supported these days. The
principal type of speculation, to-day, was
the forthcoming OF the government report.
There were fewer tips and pointers in circu-
lation regarding the report than usual, but
the common opinion seemed TO be that
IL would show an impairment OF to 3
last report. The idea was expressed, how
ever, that the desire to bull granger stocks
might have been strong enough to color the
reports of correspondents to some extent,
and make the situation appear better than
the facts warranted. No especial weight at
tached to that idea: however, the local
market ruled dull and spritless during the
last hour, with the price of July and Decem-
time, around or under 762lc The last prices
We're as follows: June S91sc. July 764c,
September 74Hc, December 1880, and the
year 74c. AS compared with Saturdays
closing range, this set of figures shows a
very small change, except that June Is Sc
higher.
Cold, rainy weather prevailing over large
area of the corn belt, together with dimin-
as,1A, 1, ,tnh ftt
enced the minds of spectators and produced
q firm market and higher prices The visible
supply was expected to show very little in
crease for the week and the actual figures
showing 422, 600 bushels increase was some-
what of disappointment to the spectators
for rise. The receipts were a trife less
than the previous estimates and for to-mor-
row, which will include two days inspec-
ton, only $50 cars are expected. There was
no great activity in either the cash or spccu-
lative branches of business. There were no
reports from the English markets owing to
the holiday there, but the domestic markets
appeared to take their tone from the firm
ness prevailing here and were all slightly
higher. The export clearances were liberal
and the shipments hence were fairly en-
couraging to holders. The strength of the
market was helped early in the day by the
firmness in wheat; but later on, when this
support was withdrawn, tn ere was still
enough of the early tirmness left in corn to
show that it was upheld chiefly by circum-
show gains of sc over those current at the
close of business on Saturday.
In oats the visible supply showed but little
change, while there was the handsome de-
crease last week, of $50, ,635 bushels in local
stocks owing to the excellent shipping de-
mund This was an element of strength, to-
day, with one sale of 100000 bushels
in June, taken for immediate deliv-
cry. Tho speculation market was
quiet but strong early, and from e to
Nc higher, followed by later tone of easi
ness. The shorts bought considerable and
there was some changing into long futures,
but the demand was soon satisfied. July at
one time touched 299s9222lc, and September
221sc and back to 235sc, with fair trade in
June around 22ssc. No. 2 oats, to go to
store, were 14c higher, at 22llc
In provisions, the week opened with no
new feature, and very little life TO trade
The shorts continued their buying of short
ribs, but in lard and pork there was no move
ment to speak of. Outside orders for all
description of products were limited, and
the small business witnessed was transacted
wholly by local traders. Values were held
steady, and fluctuations were confined to
narrow ranges; in pork, their limits were
only from Sc to 716c; in lard, 21Sc, and in