Omaha daily bee., 1889-05-19
The SPECULATIVE MARKETS.
Sentiments Influence and Conditions
Bearish in Character.
wHEAT.seEFERs LITTLE CHANGE.
Heavy Receipts OF Corn Cause a
Weak e eiOpening-osts Dull ana
weakACattle Quiet and Steady
8Io Quotations.
CHICAGO PRODUCE MARKETS.

CHICAGO PRODUCE MARKETS.
CHICAGO, May 1S-TSpecal Telegram to
| THE BEE. Sentiment, influence and con-
| ditions were bearish to-day, yet the price of
| wheat suffered very little change, The
| market was Intellectual in the production of
| sensations of any description, and operators
| did not seem to have decided convictions.
| Outside of group OF chronic
bears, the majority of the middle
| weight 'old stagersn of the wheat
| pit are scoring for an ADVANCE Every
| time the market pauses after decline they
IMP in," but on the first symptoms of re
newed depression they run. They want TO
| have some wheat when the market starts up
| but they do not propose to stand a loss. The
| immediate influence of such operations is
| therefore bearish. "Scoring for a rise gives
no genuine support to the market unless the
| outside conditions conspire to force a con-
tinued advance. When the doubling up pro-
cess begins, however, the market gains in
creasing momentum. The blackboard re-
corded clearing of 10l 900 bushels Of wheat
to-day and $4,000 bushels additional are being
loaded out today. The sale Of 900 bush
les besides on basis of &c premium
over June was reported, and considerable
uuSlueSS lOT hCCOuub VI lubeIlOE
was done. Local stocks will show quite q
reduction in the week, and estimates of a de-
crease in the visible supply range from
1000, 900 to 500, 900 bushels. The best au-
thorities fix on $50, 600 as about the proper
figure. Exports for the week from the four
principal Atlantic seaports foot up III, 900
bushels of wheat 100000 packages of flour
This will make a grand total of about
100000 bushels, or more than any
week in many months. Facts con-
cerning the movement of and changes
in actual property were generally bullish,
but as regards the magnificent crop prospects
| they exerted at the most only passive re-
sstance, which was sufficient however, to
| prevent further shrinkage in values. Con-
trary to expectations, the receipt at primary
points showed very little increase this week
over last and shipments are about the same.
| Arrivals at Minneapolis are large, but only
small proportion represents wheat directly
| out of farmers hands. Drenching rains
| throughout the central western country west
| of the Mississippi are reported and crop ad-
| vices from heinorthwest are for the most
PalS paley stand sH0raSds more moisture UIt bu5
the needs in that direction are
in Il fair way to be satisfied. 1t continues to
rain in California aud this is not good for
| wheat atr itsn present stage of development.
| The local range was very narrow to-day.
July, the. .favQritc month, opened at T14c,
sold down, to 76s4c, and for the most part
| clung within sc of nc. The scalpers de-
| scribed it as aT'stingy market" There was
nothing in, it for them. Operations were on
| q restricted scale. Hutchinson was a seller
above nc and buyer below. New York
sent bearish news and sold wheat steadily
and IN { moderate quantities Export
business 70, the amount of 13
boatloads was, exported, however. The
undertone to the local market was unques-
| tionabiy firm.-O On the surface things look
bearish but there has been substantial buy
| ing by commission houses for the past two
| or three days. The feeling seems to be
changing and wheat is gaining friends
among the conservatives, VINO feel that the
crop prospects have been discounted too
| literally. The market took on an appear
ance of increased activity toward the close.
July left of at 771S@7114c, or identically
where it did yesterday. May opened at S214c
| and closed at S219c. June started at SU%4
| and left off ut SIC, selling in the meantime
| at SO1ac. September closed at 1890 The
| whole list rested on the same plane as yes
| terday.
Heavy receipts of corn, as shown by the
| inspection returns caused "A weakening. The
| weakness was also helped by themagniticent
| weather which is now favoring the recently
| planted grain, and was intensified when the
| estimated receipts of 975 cars for Monday ne
| came known. The cables reported dull mar
| kets abroad and all the governing domestic
| markets were in sympathy with the weak
| ness here. The business done was con-
siderably in excess of the recent average,
| and there was q good demand for July,
| and below 3ic The demand was, however,
largely due to the shorts taking the profits.
| Investment buying appears to be light, and
| is doubtless discouraged by the recent course
OF the market. There was a good inquiry
| and sales of thirteen boat loads at New York
| for export The cash market shared in the
| weakness and declined in futures, shippers
| being able to secure concessions of 5s419c
| under the prices current yesterday. Spot
lou fta.aFnt nn Effl
| and the futures showed about the same de-
| cline.
Oats were dull and weak to &c lower on
| future account. The receipts We're again
| large and the weakness in corn extended to
this market, which derived no support aside
| from mill buying for the account of shorts.
| Posted Withdrawals of 2S2,50O bushels eX-
erted but little steadying influence, as heavy
| arrivals are anticipated for next week. May
sold down to 2215c, with June around 22l30
| 229Ss, while July was confined within a mar
row range of 222s(9221Sc. No. oats to go to
| store sold at % &C.
the hog market. The latter fully l0c higher
under unexpectedly light receipts, but it had
| no effect upon produce. On the contrary,
| pork and it's companion lines were heavy
| from the start. Short RIBS were bought
| pretty freely by Jones, Kennett * Hoskns,
but even of this article the offerings exceeded
| the demand. In ali departments of the mar
ket values were depressed by the
| euC huNcio, uhu 40
| n consequence decline was suffered.
| The receding turn witnessed. however, oc-
casioned no stir and the day passed with
| scarcely more than moderate trading and no
feature of special interest The business
| transacted was also largely on local account.
For cash deilyery lard was sold at $3.50
6.T11, l6-lb green ham at SS.75 and dry
| salt shoulders boxed at $500. Based on
Yesterdays final quotations, the closings
| showed net decline in pork of 121Z@l5c,
lard Of 81 and short ribs of 711@10c.