Omaha daily bee., 1889-01-20
THE SPECULATIVE MARKETS,
No Export Business in Wheat Yes
terday.
AND VALUES RULED LOWER.
Corn Less Active and Dull, and
Prices Somewhat Irrcgu-
lar-General Quo
t%ations.
CHICAGO PRODUCE MARKET.

CHICAGO, Jan. l9.--TSpecial Telegram TO
The BEE. Wheat values ruled lower to.
day. The market opened &c off at Sl.0il4
for May, advanced to st.015S, sold of to
Sl.O0jS, up sc, off again to $l.OO2l, ranging
for quite a time between 81 1909 and Sl.0l, and
then selling off under pretty heavy pressure
to Sl,O0l6. Friends of wheat made a stand
at Sl.OO16, but the market did not act at oil
strong. The closing price was Sl.00aS,
which is about It. lower than yesterday, by
comparison with final quotations. July
ranged between @2c and 93c, and closed at
92c. January closed at OSLO. One of the
early influences in the market was the report
received simultaneously by about a dozen
houses that the New York Mail and Express
would print in its issue a statement showing
that the total supplies of wheat and -four in
sight the world over were about &c, 0O0, 900
bushels greater than they were a year ago.
The Mail and Express is the newest candi-
date for speculative influence, and its tips
receive industrious circulation once or twice
a week. Bloom commenced selling on the
first advance, and he kept selling on hard
spots for the remainder of the session. The
weather did not turn out as cold as expected,
and that had something to do with the re-
taxation of the buillsh fcrvor. Winter is
settling down upon us gradually instead
of with the usual whoop and hurrah.
1t is quite probable though that winter
has come to stay and that the open air picnic
session is over for this year. However, for
the moment the cold is not extreme, and the
shorts are soothed once more into a pleasing
sense OF security. The northern advices
were mildly bullish. Sawyer, the Duluth
bear, has Hoped, and in announcing the ad-
vance in the best grades of wheat he de.
clares that he has enough of bearing The
stocks of wheat in the northwest will show
a decrease. The indications now point to a
decrease in the neighborhood of $50, 600
bushels in the visible supply this week, St.
Louis, Minneapolis, Detroit and Chicago
contributing to the reduction, as well as
points of minor Importance. Gables indicate
a stronger feeling abroad, and Liverpool
quotes an advance in Russian wheat on
account OF the light available supplies. The
Of coast wheat is also higher. No export
business is being done in wheat. Flour
trade is quiet and no sensational features are
discernable in any direction. The volume of
speculative operations in the wheat pit to-
day was below the average, and the trading
seemed to be for the most part local. Hutch
lnson is apparently doing little or nothing.
Like the market he is waiting. Ream and
the majority of the heavyweights are talking
bearish, and the general crowd inclines the
same way. The week closes tamely.
The corn market was less active and
dull and prices were somewhat irreg-
ular. After the steady and for a time
strong opening, which carried prices
above yesterdays closing quotations a weak
feeling succeeded in sympathy with the
course of wheat, and dullncss took possession
of the market and maintained it's hold to the
close. Prices were lower by from &c to &c
than those prevailing at the corresponding
time yesterday.
In the regular market for oats there was
a continued dullness, with little apparent
disposition to trade. There was no pressure
to sell though, through a lack Of support,
and the feeling was weak at 1sMl1c lower.
May opened firm and later touched 27I5c,
with the most of the business around 27%c,
and the other features were neglected.
SSIhe provision market was again active
at lower average prices. There was the
same bulky sort of opening as witnessed yes
terday and on the day before, and a repcti-
ton OF the weakness and the declining tend
ency later. The influences, as well as the
trading, were largely local, there being no
good support given to the market from any
quarter. Outside orders were generally on
the selling side, and one of the leading feat
ures of the market for the past two or three |
days has been the free and general selling by
the packers. Morrill,, of Ottumwa, has been
a large seller of lard here this week, and the
local packers have sold all kinds of pro-
duct. The buying to-day was chiefly by |
the shorts and in the aggregate a large bust
ness was transacted. A good deal of weakly
held pork was unloaded after the market got
below $3.50. Twice May options of pork
touched SIP. 20, which is the lowest quota
tion established since trading in it began.
Armour is said to have taken no active part
in the market of late. The early firmness
was due to the light run of hogs even for
Saturday. Speculation was largely in May
option, though The near deliveries of lard
a good deal of attention, and were
quite firm, owing to the good cash demand for
that article. For a round lot of cash, March
prices were paid to-day on export account.
The closing prices for the different arti-
Giles were within 219c of the bottom on the
entire list, the actual shrinkage, as COM |
pared with yesterdays closing, being 12}S@ |
15c in pork, 214@5c in lard, and 5@T15c in
rIhc L