Omaha daily bee., 1889-08-21
THE SPECULATIVE MARKETS.
Wheat Dull and Uninteresting Aside
From a Little Furry.
CORN DULL AND FEAIuReLEss.
Little or No Change Develops in the
Provision Situation-Heavy Rc-
ceipts of Cattle-Hogs Inn
prove In Quality.
CHICAGO PRODUCE MARKETS.


THE BEE.l-There was little furry
In September wheat to day that caused
some excitement for a few minutes, but
aside from that the market ruled dull and
uninteresting. 1t was sadly in need OF
'elixiration," TO use a newly coined phrase
descriptive of Brown-Sequard's reiuvenating
process. Statistics and most Of the news
had bullish flavor, but there was no snap
to speculative inquiry and values DIDN'T
appreciate. Indeed the market seemed to
have an undertone of heaviness. Four out
of FIVE of the scalpers were bearish, but
their influence just now Is not important
Their operations sometimes make change
of Nc ofS such matter, but these trivial
variations in quotations possess no sienih-
cance The news that was most industriously
circulated for speculative effect was dis
patch from Russia via New York
that the Russian crop would be
an average one and that it would exceed the
recent estimates This report had not much
influence In view of the recent official and
semi-official utterances to the contrary, but
1t was used as q club, and there was consid-
cradle selling on the strength of 1t by George
Smith, Cudahy and others. English cables
were fatty contradictory, but those usually
regarded as the most reliable represented
the weather as uuSeuJleu Anu
firm on that account and small offerings
New York operators had it that the foreign
market was depressed and lower on clearing
weather and expected heavy shipments of
American wheat. Not strictly in harmony
with the bear information came well authen-
ticated reports that ocean freight room was
In demand at the seaboard for wheat to ar
rive'- In addition it was learned that new
business to the extent of nine boat loads had
been worked in New York, The amount
on passage decreased $4,000 bushels. This
was q bull item of no consequence. The
northwest continues to keep the mails and
wires laden with bearish advice and opinion,
but as yet the statistics do not particularly
favor that side. Receipts of spring wheat
are not coming up to expectations, but it
might be we'll for those who are dsap-
pointed because the whole spring wheat crop
has not yet been shipped in from the country
to remember that year ago yesterday q
hard frost destroyed millions of bushels of
wheat IN the northwest This year the crop
has been saved, but the date is nevertheless
very early TO go into mourning over the fall
ure of the crop to come to the front. tere
were rams throughout Montana, the Dako
tas and Northern Minnesota yester-
day and last night, and cold
wave of considerable severity is fol-
lowing. The approaching cold wave
caused small-sized scare in corn, but trade
ls so lethargic that actual frost in the corn
country would hardly wake EN- up" seem.
ingly. The impending low temperature had
no effect on wheat, however. December
opened at 781sc, advanced sparlngly to 7Sh
(g7S36c, and sold off to 77I(0771sc. From
that point there was rally to ITlsc and
that was the point at which large proper
tion of the business of the day was done.
The market clung to 771sc with q sort Of tor
pid tenacity. Toward the close, however,
the increased offerings produced a weak
feeling and the price got to 71s1c where it
rested at the close. August opened at 77l4c,
ranged at T@T14c and closed at 7}sc
September opened at IN, which was &c
advance over yesterdays last price, and was
led up to 7'1sc, with only a few sales. The
price subsequently worked back to 76s4c
and closed at 76s4@761sc. AS compared
with yesterday, near months are just shade
better and late futures &c lower.
The usual,featureless and dull corn mar
kct was not deprived of Its recent character
istcs. The foreign markets were steady to
firm, and export inquiry at the seaboard was
good and shippers here were free buyers.
The clearances from Atlantic ports were
small, and New Orleans only figured for a
shipment of $4,000 bushels. The weather
throughout the corn belt was favorable for
the growth of grain, but colder weather was
threatened from the extreme northwest.
Prices underwent but little change, Septem-
ber, the active month, being confined to a
range of less than &c. 1t opened at $3.50
1885, sold down 10 49, &C and closed at 351o "a
S5Zc.
Oats were dull within 1sc range, ruling
nearly steady. Receipts were less than ex-
pected, though they proved liberal. In the
speculative market there was little desire to
trade, with some business in No.. 2 white
oats for this and next month. No. August
weaker at 240e241sc and September at 23a4c
May oats were offered moderately at 24c aud
September stood near 2014c, with August q,
shade discount. No. 3 oats to go to store
sold chiefly at 201sc.
In provisions the days developments
showed little or no change in the situation
Pork and lard exhibited a trife more
strength, but for short ribs prices receded t.
lower point than yesterday under unex
pected selling Offerings Of short ribs ex-
ceeded the demand as rule, and the char
acter Of the realizing rather Indicated liqui
dation upon the part of some of the tireC
holders. The trading generally was com
parativey slow and the buying witnessed
presented no special feature. The day.
actual changes in prices show decline of s,
on September and October short ribs and al
advance of 219@5c on the same deliveries O
lard and 5QIT1Sc on all pork futures. Janu
.,,,l. az Iii, oln.