Omaha daily bee., 1889-07-06
The SPECULATIVE MARKETS.
A Dull Day Witnessed in Wheat
Transactions.
AN EASIER FEELING IN CORN.
The Provision Trade Irregular on In
creased Packing OF Hogs in the
west-CattIc and Hog -
Quotations.
IN EASIER FEELING IN CORN.
CHICAGO PRODUCE MARKETS.

CHICAGO, July 5.-TSpecial Telegram TO
THE BEE. This has been a dull day in the
wheat market. Domestic market news and
popular speculative sentiment tends to the
development of weakness, but there is
stnbbornness Of undertone that surprises
the talent" Cables came in very strong
and impaired TO the market a degree OF
strength early that resulted in a complete
recovery from the opening low range, which
was nc uuder Wednesdays close, but this
recovery was subsequently lost. Last prices
were about the inside for the day. The
boards cable noted the confirmation
Of the Hungarian crop report damages
and an advance in Hungarian -four.
The prime cause Of the recent strength to
the foreign markets seems to be the Russian
and Hungarian crop shortages and the birth
of feeling abroad that perhaps the Amer
ican crop might not be as large as early esti-
mates lead the world to expect. In some
quarters the thought finds expression that
the foreign markets are being worked"
hut there does not seem good grounds Tor
this suspicion, TO rest on, though not q few
marvel that with the foreign demand as
urgent as some of the cables represent, it is
somewhat singular that the foreigners are
not more active buyers OF our seaboard &C
cumulations. The northwest is not sending
out much news to-day bearing on crop pros
poets. This is taken to mean that the out
look is brighter. If 1t was as bad
as before the recent rains there would be
continuation of ruin reports. St Louis and
the southwest is sending in bearlsh afvices,
based very largely on "harvester returns"
UP to this writing the enormous receipts that
were TO come in the early part of July have
not materialized but wheat seems to have
been raised just the same. Initial prices
were as follows: July size, September
77Tc and December at 75sec. July with
light trading, climbed to S31Sc, September
advanced from 7799sc to size and December
from 79asc to T9&c This proved to be the
top for the day, and for the last hour and
half or two hours the market dragged down,
yielding very slowly, however. December
got as low as 1915c and closed at 79asc. July
left off at Sl}4c and September at 773Sc.
This is &c off for July, &c for September
and &c for December Business was light.
The fine weather and increasing receipts
caused an easier feeling in corn. The do
mestic markets were easier in sympathy
with Chicago. The shipping demand here
was good, though at lower prices than ruled
Wednesday, and New York reported good
demand prevailing there on both foreign and
domestic accounts. Fluctuations were mar
row and the bidding of a local character and
small in aggregate. Changes since Wednes-
day were only from 1-l6c to sc on several
deliveries, but the differences were against
3519c, August 3519@359Sc, September, $500
3514c.
Receipts Of oats were liberal, and with
some two hundred cars estimated for to-
morrow, there was little desire to trade for
future account, the market tending to weak
ness Interest was largely in September,
which sold at 2219 19(9225sc, while the fuctua-
tions in other months were equally narrow
and devoid OF special feature. May sold at
25Tc, and No. oats to go to store were dull,
with bids generally restricted to 223sc, or sc
lower than Wednesday.
The provision trade was somewhat irregu-
lar, encouraged by Wednesdays weakness,
easier prices of hogs and an increase of 1885,
600 hogs in the past weeks western packing.
as compared with the same week last year.
The bears opened the market with d,s-
position to force lower prices. They engaged
in little hammering business
and product of all description
was made to sell off. The decline
forced, however, was short lived, and the
ground lost was, in some instances more
than recovered on short rebound. Forpork
the days final quotation showed a net ad-
vance of 21s( s(15c, lard closed at adepreciation
of 219015c and short ribs OF 219c.