Omaha daily bee., 1889-01-27
The SPECUl ITIVE MARKETS
Wheat Betterfand Stronger in Cen
eral Tone.
TRADE IN THE CORN PIT DULL,
While Exports Continue Heavy-Uats
Receipts Greater Than Expected
A Stronger Feeling in Provi-
s~ions-1iye Stock.
CHICAGO PRODUCE MARKEr.

CnGCAGo, Jan. 2G-iSpsCial Telegram 10
The BEE. The general tone Of the wheat
market was better and stronger 10. day. The
foreign market news was conflicting, but in
its "public form the foreign situation may
be described as stronger Private cables
were received, rejecting weakness abroad
| and worse than Indifference to the course of
prices on this side, but Just the same a little
wheat and flour continues to drift through
the Atlantic ports, bound for the old world,
The local features were in the main bullish,
aud the domestic news was of II similar tenor
as a general thing. II is taken for granted
that the visible supply will show about the
same decrease this week as last week and
a healthy milling demand At the western
market is reported. st. Louis wired that -
sale of 100000 bushels of wheat for April and
May shipment to Galveston, Tex, had been
made. The receipts at the primary markets
continue small. The adviccs from the sea
board suited both the bulls and bears. Bal
timorc wired that the wheat taken there the
other day for LISBON had been rcsold, and an
hour later the r~cselling dispatch was fatty
denied. The first dispatch helped materially
to weaken the market, and the contradiction
enabled the scalpcrs to run the price up
again. All of which shows that the market
Is Ill Il very utINOuS Slult anu easily
influenced by small things. Baker, George
Smith, Falrbank & Milonione, Bodman
Il Co. got cables that the French and the
other continental markets were higher, but
Dunn aud Warren were in receipt of rather
unfavOrable news from English points ac-
companied by selling orders. The foreign
summary comprises in brief the outside news
of the day. The local situation was, as be-
fore stated, bulllsh. There was a good class
of buying ali day, and in spite of the fact
that there was Il heavy realizing OF long
wheat bought lower down, II material i'm
provcmcnt i'll prices was scored, and much of
the ground recovered was bravely held. May
wheat opened at 9sl4c, ranged early from
9Sasc down to CSC, advanced
s str9 a to to ''' s;essa Fe"c's With to several vera
i4c reactions, broke to 9S&c on the free sell
ing by Bloom and the receipt OF the unfavor-
able Baltimore dispatch, advanced nervously
to $3.50 reacted to %h4 and
better than yesterday, and 2ssc above the
low water mark touched the middle of the
the week. The &c break during the last ten
minutes was caused by realizing sales. Feb
ruary wheat closed at 95t4c nominal, and
July at 9014c.
The stereotyped dullness of business once
more attained its drowsy character IN the
corn pit. Speculative trading was again
confined to the local operators, and tiuctua-
tons were too narrow to excite any outside
intereat. The English markets were
early quoted as strong, but the
later adviceS gave Il quieter reading OF the
feeling there. The exports continue heavy,
and in addition to the usual cut going from
the Atlantic ports, New Orleans doomed up
with clearanccs TO different ports of Eng
land and France amounting to go, 900 bus
hels; The receipts here We're 81 cars heavier
than yesterdays estimate, and for Monday
the calculations place the probable arrivals
at $50 cars. These were points which held
the market down, although the continued
poor grading is still prominently before the
eyes of sellers having contracts maturing
during the two following months. There
was no relief to the dizziness during the en-
tire session, and the closing prices were
about on a par with the close of the previous
day.
The receipts of oats were greater
than expected, with a total of
10 cars postsd. This number included
but eighteen cars of contract grades, and the
trading in cash lots was mostly by sam
pie. No. 9, to 90 to store, was firm at 25c,
within store saleable at 2413c. Futures were
quiet and rather dull though firm, with buy
ers of moderate lots of May paying 214c.
The interest did not extend to the other
months, which were neglected, with June
about sc under May.
In provisions IL stronger feeling developed. |
Lard scarcely held its own, but in short ribs
and pork the sellers were encouraged to act
more Independently by an upwdrd turn. In
pork the days advance actually established
was 1Oml2%c, and in short ribs 2I5W5c. Lard
closed the same as yesterday for May, to 2lac |
easier for the nearer deliveries. J