Omaha daily bee., 1889-07-25
The SPECULATIVE MARKETS.
Wheat Gables Continue to Come in
Strong and Higher.
RECEIPTS OF CORN LARGER.
Business in Oats Quiet and Featur-
Iess-Provisions Confined to Mar
row Limits-Native Cattle
Brisk-Quotations.
CHICAGO PRODUCE MARKETS.

CHICAGO PRODUCE MARKETS.
CHICAGO, Jlly A.-ISpecial Telegram to
The BEE. The wheat trade of the old
world is in the throes Of crop and market
scare, and cables are coming in strong and
higher every day. Spectators have taken
the lead and their operations have thus far
been confined largely TO long futures. The
extent Of the crop deficiency In eastern and
southern exporting countries has struck
them "all In a heap" and they arc showing
visible signs Of excitement. The future has
not vet communicated itself TO the cash
market TO !, an alarming extent, though
the limits are being moved up, and
winter wheat which has been at
an unnatural discount. is getting into line.
Up to this writing the advance has been
very largely attributable to buying for
speculative account. From the tons Of ad-
vices 1t might not be safe TO bank brashy
on the speedy exhaustion of the foreign born
boom. They are slower in getting q start
over there than we are on this side and not
so easily 'pulled off," The momentum Of q
boom or break usually carries them further
and lasts longer, but there are exceptions to
every rule. Commission houses here and
oil other speculative markets who
have foreign connections have
been steady and large buyers
of wheat futures. The big Chicago and New
York houses have been especially industri-
GUS buyers and canvass of the situation
warranted leading concern In wiring its
correspondents that the "bulls, as a class,
have sold out TO foreign speculators." Such
seems to be, in a measure, the case. For
eigners certainly now form the most impor-
tant long interest in this market and New
York The local crowd, while bearing testi-
mony more or less unwilling to the logic Of
the figures and strongly impregnated with
bearishness are impressed with the i'm
portance of the $50, 100000 bushel crop
of winter wheat and the improving spring
wheat prospects and are reluctant to respond
TO the influence to an advance that Is due al
most entirely to foreign influences. They do
not want to go so far from home for facts or
sentiment, and insist that this bull move
ment cannot be lasting without big export
shipment The export movement at this
writing Is not up to tho usual midsummer
average. A little stun is being worked here,
Ct St; Louis ian and at, at the seaooara board
times the amount would hardly excite re-
mark. December wheat opened at sic, sold
Off Lc, went to S05sc, back to s0ssc, up to
Sl1sc, and then, under local realizing sales,
1t slid down to S0ssc. During the last hour
the market had a strong undertone ana ad-
vanced bnoyantly in the face of vigorous op.
position to size. Above Sic speculative
offerings were heavy and the price eased Off
nearly &c, closing at s024@so1sc, or Nc bet
ter than yesterday. September opened ut 79c,
sold off to 1880 ana up to 7914c, off to 7S1lc,
up to 7914c, closing at 7S1sc. the same as
yesterday July had wide range and at
times was quite active; 1t opened at SIC,
ranged At slA@pS3c and closed al s2slc, a
gain Of l. 1zc over yesterday. AS the month
draws toward close, apprehcnsions are felt
in some quarters that there may after all be
q natural squeeze in July. The short inter
est yet outstanding cannot be large.
The receipts Of corn were somewhat in ex-
cess Of yesterdays estimates, but the gen.
eral conditions Of the situation were un-
changed. An easier feeling, how
ever, prevailed, and prices were de-
cidedly lower than on tho day preceding
The offerings were more plentiful and the
shorts less anxious. and though cash offer
ings were not heavy, buyers were enabled
quoted strong markets abroad, and export
clearances were liberal from Atlantic
ports and 100000 bushels exported yesterday
to Rouen from New Orleans. Domestic
tone developed here, and sent quotations
slightly reduced from those Of the previous
Day. At the close of the market the rather
heavy advance which took place yesterday
had all disappeared, and to-day's closing
quotations were from Hc TO &c below those
Tuesday, and were as follows: July $500
86lSc, August 361s 1s@36Ec, and September
@Hc. Charters were made for 10000
Oats were quiet and as featureless as dur
ing the opening days of the week. The
receipts were much less than expected and
early trading was at steady and firm figures.
Heaviness prevailed later, and the market
partook of the weakness in other cereals
with about &c decline. July sold at 2219(Q
22ssc. and September touched as low point
as 22c, with No. 2 white. for that month
llsnsr In, 1aNn n,lra rfal
as reduced nearly $4,000 bushels, chiefly No.
white. No. oats, to go to store, sold ut
yesterdays price Of 22l4c.
Provisions continue squiet, and in allsits
branches OF trade is confined TO compara-
appeared to have decided te act conserva-
lively for the present, and to-day business
was sadly wanting In life and volume. In
deed, the only noticeable feature exhibited
was n disposition upon the part OF specula-
tive holders to liquidate. Property was
offered for sale with moie freedom than the
demand was able to absorb, and, as n conse-
quence, prices declined somewhat be-
low yesterdays level. In pork the
71<c, in lard 90 and in short ribs 2]t
(G5c. The best or highest prices quoted were
obtained around the opening Of 'change, and
The lowest late in the session. For cash de-
shoulders, boxed. at $50 For 1910 green green
hams $40 was the asking price, while 16-lb
sweet pickled hams ranged at 9slCaloc.. In q
speculative way September was the only de-
livery attracting attention. 1t sold at
$ll0T1E01ll.25 25 for pork, S6.27130D6 .35 fer lard
and s5.6G4570 for short ribs. Pork for
September closed at sll.lo, lard at s6.27>S
orally quoted about the usual discount under
September. Winter deliveries sold spar
ingly.