Omaha daily bee., 1889-07-27
The SPECULATIVE MARKETS.
July Wheat Bulls Give an Exhibi-
ton Of Their Power.
THEY PUT THE SCREWS ON,
An Active Demand For Cash Ofrer-
ings or Corn-Provision Trading
Partially Demoraiizcd-Cat.
tie Bring Strong Prices.
CHICAGO PRODUCE MARKETS.

CHICAGO, July 26--TSpecial Telegram 20
THE BEE. The screws were nut on July
wheat this morning with just enough to i'm
press the crowd with the feeling that the
price could be showed up through
the ceiling II necessary. Rider Hutchin-
son, the big bond broker, victoriously
bid tho price from SOC to S21<c and Clifford
bid $3.50 without getting anything. The OK
tent OF the short interest was an unknown
quantity but the impression has prevailed in
usually we'll informed quarters that there
were two or three good.sized shorts holding
out and that Hutchinson was going TO force
them 10 give In. This may not have been
the status OF the case, but along about noon
the peg was pulled out and the word went
ar round that the shorts had settled and that
there was nothing to hold July at q premium
excepting few scattering fves and tens
held in anticipation of squeeze.
'The July deal has been closed up"
said one of the best posted brokers
on 'change. ~ can give you that
straight" he added The crowed jumped to a
similar conclusion. July broke to S0s4c with
offers s0Kc Subsequently the price went 10
Sic, where 1t was at the close. Aside from
the July incident the market was destitute
Of interesting features. News was a scarce
crate views on both sides, but the edge of the
foreign bullishness seems to have worn Off to
great extent. The seaboard had new ex-
port business to report and the shipping de-
mand has abated ut interior markets. Re-
ceipts are on the increase, though the rainy
weather is still interfering considerably with
the freedom OF the movement. The local
demand is rather less urgent, though choice
wheat is not likely to go begging at
this stage of the movement Trading in
futures was on moderate scale, and until
tho break in July fluctuations were confined
to a narrow range and December opened
AT 794c, and for two hours
the price kept within 79a4(0S0c.
Once it got to 795fa79%c, but it was only
m omentary. When the props were with
drawn the scalpers got on top of the market
and iammed it down to roc. 1t recovered
nc and December closed at 7914c. Septem-
Der opened at 771sc, ranged at 7S14@7SHc,
and closed at T14c. Compared with yester-
day July shows "a loss of l2lc, August &c
and September and December 1c. North
western crop estimates received yesterday
were generally discredited, though wheat is
conceded to be good. Reports of rust along
the northern edge OF the winter wheat belt
and the southern edge of the spring wheat
belt were received, but had no effect. There
is still too much rain through the winter
wheat country.
Inc demand 1Or CaSn OHer1nRS OF corn was
active AT higher figures than on Thursday,
but in the speculative branch Of business
trade was dull fluctuations were confined to
narrow range and the feeling was very lit
tie better than steady. July was influenced
by the cash demand, but September deliv-
cry, which is the most active in trading, was
more affected by the weakness in wheat.
Outside domestic markets were firm early,
but responded later in the day to the change
which occurred here. There was difficulty
In executing orders for export on account OF
ocean tonnage and the consequent higher
rate asked for was felt toward the close of
the market, when wheat was at its weakest
There was considerable selling out of Sep
tember corn, and there were a few minutes
OF activity, which was soon over, however,
leaving the market quiet. with an easy feel
ing at the close. July closed at 36asc, and
September at 855s@36c, against 365ec on the
preceding day. July ut one time to-day was
3614c.
Oats were dull and nearly stationary on
the speculative Market with operators in
making mood, and the outside trade was
light AS a result there were no fluctuations
of consequence, and little interest at any
time displayed. The feeling was about
steady, with July at 2926c, May about Sc
premium and September 211sc. The re-
ceipts were slightly below the estimate, with
100 cars expected for tomorrow. No. to
go to store sold at 22hc, No. white for
August at 25Is(G254c aud September at the
same.
In provisions trade was IN a somewhat
demoralized condition. Short ribs, under
the support gwen by couple of prominent
packers, held their own quite well and prices
suffered no more than their late almost daily
decline. In pork, however, weakness and de-
preston were the ruling features. 1t was
practically wanting in support of any kind.
Even the small short interest remaining in it
were only half hearted in their bl ying, and
when the frightened holders attempted to
realize, sharp declines naturally followed.
Trading in pork opened at figures closely
approximating yesterdays close, but from
the highest quotations reported the market
broke 2216c before experiencing turn The
recovery, when it did come, was only re-
action ana failed to improve the prevailing
feeling Trade was bearish, being con-
trolled by advces from the country concern
ing corn and hogs, and it was impossible to
develop any confidence. The days last quo
tations stood at the lowest figures touched
for lard, 81 &c higher than the same for short
ribs and l0c higher for pork. In pork the
decline actually suffered was l21l920c and
In lard and short ribs 211c.
CHICAGO LIVE STOCK.