Omaha daily bee., 1889-01-10
THE SPECULATIVE MARKETS.
Wheat Shows a Perceptible Soften
ing Tendency.
CORN LlFELsss AND LOWER.
Oats Lacked Animation-Proyisions
Spasmodic and of Smaller Vol
ume Cattle Slow n
Unsatisfactory.
CHICAGO PRODUCE MARKET.

CHICAGO PRODUCE MARKET.
CHICAGO, Jan. Especial Telegram TO
The BEE. THE wheat market was largely in
control OF the professionals to-day. The
changes in the legitimate situation are al
most imperceptible, and until the trade cur
rent sets in strongly one way or the other
the professionals are content TO chase or
make fractional variations in prices. That
appears To- be about what they have been
doing since Christmas. The forces that are
generating under the surface are not yet
clearly distinguishable and the speculation
as TO the outcome in the near and remote fu-
ture is at this stage largely a matter Of indi-
vidual opinion. The opposing parties
are more than ordinarily nervous these
days and anticipate an early departure from
the beaten rut. The more conservative
among the operators will not be surprised If
the start is not made for a month, by which
time the -four supplies will have probably
adjusted themselves TO the natural condi-
tons of trade, and the visible wheat stocks
viii be in process of settled reduction. The
news features were particularly uninterest-
ing to-day. Few cables were received, and
these reflected mere firmness, nothing more.
They brought buying orders for goodly
amounts, however, WHICH COIptnSdltu Nv
commission houses for the absence of sensa.
lions. A general improvement in the flour
trade is noted, and some bullish items
drifted in from the northwest. Two of the
largest mills in that section re-
ported the sale of their en-
tire weeks output, and Pillsbury
fired in "a budget of bull pointers. Boyd got
a dispatch that stocks of No. / hard wheat in
Minneapolis are smaller than they were in
September. The movement of wheat, the
country over, is very light. Minneapolis re-
ceived 60 cars to-day and shipped out - cars.
Chicago received 81 cars, and to.morrow's
estimate is % cars. Small as is the exportion
of wheat and -four, the aggregate IS about
equal TO the receipts at the primary points.
The. undertone of the market seems quite
strong, but speculative inquiry is not general,
and the lifting power is only moderate. The
most important bear influence to-day was the
snow. 1t outweighed everything else.
The snow that has fallen in this section
seems to have been general over a very large
winter wheat area, and 1t was commonly
construed as being a grand good thing for
that crop. This is only an incident in the
development of the crop, but it is favorable,
and relieved the minds of many scalpers of
the fear that there would not be bread
enough to 20 around. The snow influenced
the local talent to sell a great deal of wheat
to-day. The range of May wheat to-day
was Travelled over with great frequency.
Outside limits were barely touched,
but fluctuations between sl.Oi%ml.O 514 were
frequent. The opening was around Sl.N5as@
1.O5l%. The market sold down to S1.05ls, up
to 81 05as, off to Sl.04H, up to $1.O5ls, off to
sl.M15, back and forth from Sl.04l2 to $1.O5
several tunes, ranged from Sl.0424 to Sl.053s,
and back toward the last to Sl.0i@S, where it
rested at the close. This is S4c over than
yesterday. The volume of transactions was
not especially heavy, though price changes
were sufficiently sharp to cause a rafting
trade among the local people. Quotations
on January wheat were nominal at 993Sc.
July opened at 96tsc, sold down TO $3.50 and
closed there.
The little life exhibited by corn yesterday
was crushed out of the market to-day 1t
resumed its dull and uninterestlng routine:
even the scalpers, who are usually on
the outlook for turns Of 1-16c, left the pit
IN despair of getting even that much out of
the fluctuations of the day. Exports were
moderate in quantity from the Atlantic
ports, while New Orleans figured as an eX,
porter Of "a, 600 bushels to London ana as
much more to Bremen. The inspection re-
turns here show n continuance of the small
proportion of No. Q, but at New York, with
their less rigid rules, out of 4OS cars received
to-day 1903 graded No. 2. The market opened
higher, influenced by the inspection returns
and the wet weather, but on considerable Of
ferings, and in sympathy with the softening
tendency of wheat, became weak and dull,
declining fractionally, but with only a small
business passing. In the last few minutes
the offerings increased under the influence
Of the closing dip ii the wheat market, max
ing the loves quotations of the day rule at
the end. The decline from yesterday is from
&c to &c.
Goats lacked animation, ruling dull, with
light speculative trading during the most of
the session, and averaging easier. This was
especially true of May, which sold down &c
to 2i1Ec, closing heavy at CSC asked. There
was not any particular pressure to sell, but
the market lacked outside support. This
month was dull, with bids slightly below YES
tprlny while February was relatively firm
Mo. 2 oats, TO go in store, sold at 25c, and
samples were in fair supply. The estimated
receipts for tomorrow are smaller than for
the two days past.
smaller volume than for several days past.
Al times the pit showed positive d~ullness,
and the market, by reason Of the
slower movement, was less buoy
ant The receipts Of hogs were again some
what above expectations. Futures of that
product opened at substantially the closing
range of yesterday, but the free selling of
pork early by Baldwin, presumably for
sl3.6719 to S13.45, the official opening being
$l3,65. In the meantime May lard declined
from 800 to $50, and ribs from
1880, as there appeared to be plenty of buy
ing orders at anything below that, and for
nearly an hour the market was begged at
around Sl3,4716@l3.5O 90. May ribs reached to |
S7O5, but lard showed an utter lack of re- |
Operative power, and continued TO drag at
the bottom figures. The largest buying of
pork to-day was by Norton Worthington. |
The market was utterly devoid Of features, |
and there were no cables. 1t looks as though
most of the shorts have recovered, and that
the leading packers and their following are
working to shake out the smaller class
OF holders. At any rate there were
increased offerings today by the packing in |
terest, and the boom appears to be out of the
market ut this writing. Cash trading was
only moderate in volume, and the sales pub |
licly reported were again mainly of lard at
S7.25M7.35. Green hams, averaging rs
pounds, sold at $S.S71a. The speculative
market closed steady and firm ut the decline, |
which amounted to 15c IN pork, l0c in lard
and nc in RIBS.