Omaha daily bee., 1889-07-15
THE SPECULATIVE MARKETS.
Wheat Secures a Firm Start in
the Morning.
CORN OPENS EXTREMELY DULL.
The Provision Trade Shows Some
Improvement in Tone Tho
Few Native Cattle re-
ceivcd sell Quickly.
CHICAGO PRODUCE MARX FITS.

CHICAGO PRODUCE MARKETS.
CHICAGO. July 13.-TSpecial Telegram 10
TIE BEE.l-Wheat had a firm start this
morning. Trades in December were made
at the opening on basis of 7STc and in July
at 794c. December advanced to 79J66o79I4c,
receded to roc, and on better cables, uu-
settled weather in England and further re-
ports about the Russian crop damage, moved
up to T95kc. Then came n budget of reports
foreshadowinR huge movement Of wheat
from the country and the market began to
ease of. This bearish news came at time
when the scalpers were pretty well loaded up
in anticipation Of a substantial re-
covery. 1t was accompanied by heavy
selling orders from st. Louis, to
which was added the speculative offerings Of
the local bear contingent with Hutchinson
and Linn, and Place, the Pittsburg plunger,
In the foreground. The result OF the pres
sure, moral and actual, was a break of about
l1fc in the whole list ofsactlve futures. The
weakness in futures was intensified By the
liberal selling of July against wheat bought
Nn the country and pointed this way. Nc
Henry had big line to sell ana broke the
market from 794c TO 76Xc. There
was reaction of &c or thereabouts
from tho bottom. but not much trading was
772c and September slid down to 1870
75Tc. On the decline there was heavy un-
loading of long wheat and towards the bot
tom scalpcrs very generally took their profits.
There seemed to be no disposition, however,
TO take IN any of the important lines. Spec
ulative sentiment is decidedly bearsh, prin-
cipally in anticipation of tho approaching
big movement of winter wheat. ST. Louis
has extraordinary statements to make about
the wheat that is going to be received there
Thus far the actual receipts have fallen far
below expectations though the movement is
increasing rapidly. 1t will have hard time
keeping up with the estimates. however. The
receipts at Minneapolis are also looming up
wonderfully, and a week or ten days contn-
uation OF the movement ut its present pro-
portions will clean out the country elevators
and leave very little grain to come forward
the first of August until The next crop be,
comes available. The situation at Minneap-
oils is strongly suggestive of a "corner'' in
speculative grade there and prodgious ef-
forts are being made to crowd wheat into
that market for delivery on July contracts.
Little wheat has gone 20 Minneapolis from
here and there is wild talk of wholesale
shipments. Cables were quiet and steady in
tenor. New York had export news of
Importance to communicate in this market.
A fair degree of activity in the cash
market Is reported. Lake engagements
for $4,000 bushels are reported
and the arrivals for Monday, are
estimated at l0l cars, the most of which is
new. The visible supply is expected to show
decrease OF something like half million
bushels. The closing range of prices was as
follows: July T6Ac August 75ssc Septem--
with yesterday, this shows loss of 1c in
September and Ec in December The total
shrinknge in December since the market
started back three or four days ugo has been
about 41ac. July has lost about SC.
The market was y9ry dull and ex-
tremely weak at the opening. with fair
show Of strength, but the declining tendency
ing IN the other cereal and was mainly re-
sponsibe for its subsequent weak
ness. There was a fair demand and
only limited offerings of cash corn. Foreign
markets were firm and export inquiry at
New York was reported good The pros
poets are generally considered good for the
growing crop and this lays back Of the
market and paralyzes any attempts at ad
crate from Atlantic ports yesterday, but for
the week amounted to ,439, 500 bushels.
More distant futures felt the bear pressure
in about an equal degree with seller July
The latter declined from sc to &c and so
also did September, the closing quotations
being 351c for July and 354@351lc for
September.
Oats were fairly active with liberal
market was nearly steady, although
the early firmness was not
fully sustained with receiving houses
free sellers. On the other hand there was
an increase for May, with September shar-
ing in the activity, The FIRST named sold
largely Mt 25@25 &C. while September de-
clined 1s04c to 2lA1 The nexL month was
easy around 2l%c, with July at about &c
premium. Receipts were liberal, and No. 3
oats to go to store sold ut 224c.
The provision trade showed some improve.
ment in tone. The moderate buying of pork
by some of yesterdays raiders developed
disposition among tailers and miscellaneous
shorts to cover, and with q better demand
than expected the market naturally gained
in strength.
Pork was the most active article in the list,
aud on the call the transactions in II approx
imated II 900 barrels. Lard and short ribs
also received fair attention, and, for Satur-
day, business all around made quite a good
showing Shippers purchases of cash lard
amounted to 1850 terces at S6.221IQl6 2716.
Cash meats were again slow, 16-lD green
hams being quoted at S1sc and 16-lb sweet
pickled hams at l0910Nc In speculativ e
lines prices as rule experienced only
limited changes. Pork at the adjourn
ment stood unchanged as compared with
changed to 21<c better and short ribs un-
changed TO tri1e easier Future trading
was centered mainly IN September, which
sold ut Sll .25p1l40 for pork, Sd. 321 06 81 4
for lard and S572156Q5.75 for short ribs.
Short ribs and lard for the Same month
closed at the best prices obtained and pork
at $ll.35. For January pork was quoted at
$1,000 bid and short ribs at $5.02X. Lard
for January sold at S6.021a@6,05.