Omaha daily bee., 1889-06-20
THE SPECULATIVE MARKETS.
New Wheat Received in Small
Quantities at Some Points.
'ERY BEARlsH WEATHER MAP.
Corn Makes Another Fractional Gain
Oats Graded Close and Quiet
Provisions Easier and
Cattle Stronger.
CHICAGO PRODUCE MARKETS.


to &c lower on the seemingly general rains
throughout Minnesota and Dakota, and on
clearing up weather in the southwest There
Is still too much rain IN the winter section, but
the indications are proptious, and the near
future should bring relief in the shape of
cessation of the storm. The weather map
was quite bearish, and If the popular ex-
preston had been realized, prices would
have had portant breaks; as it was, the
prices ruling around the opening of trade
were the lowest Of the day, and the average
tone of the market was quite firm and
steady, at some recovery from the inside
figures. This seemed to be due, in great
measure, to the prevalent belief that the
Northwestern rains came too late to repair
the damage resulting from the drouth, to
the firmness in the cash markets east
and west, and to the advance in
Liverpool, consequent upon diminishing
India shipments, and the further confirma-
tion of the reports Of damage to the Russian
crops The speculative sentiment was bear
ish to quite degree, but the market was
held steady by causes and influences beyond
speculative control. Only small amount of
new business was reported by New York,
but the out inspection. there, for two days
was 800 900 bushels. The export clearances
were only about one third that quantity,
showing that there is good local eastern
demand. The shipping returns show that
there is a good milling movement from all
points of accumulation, while the receipts
emphasize the fact that the country reserves
are down to the very lowest ebb. AS an Off
set to the statistics tending to show rapid
reduction of the visible stocks, dispatches
were atioat about the new wheat arrivals at
southern points. st. LOUIS advised that
cars of new wheat had been sold, to arrive
there this week, price 75c. Baltimore wired
that 200 bushels of new wheat had actually
been received there. These are insignfi-
cant items in themselves, but they
bring the fact forward that the new
crop movement is soon to begin. This move
ment is not likely to be any earlier than
usual, or for that matter quite as early but
1t is probable that Chicago will get more
than the percentage of late years. The
Atchisou has elevators here and road ex-
tending right into the early harvest fields.
The important news of the day Is compressed
into the foregoing statements, The first
sales in this mornings market were on
basis of 77lSc for july 741sc for September,
and 7614c for December, July sold as low as
77sec, September as low as 749sc, and De-
cember as low 761sc. The market grad
ually firmed up under the influence of good
buying by Hutchinson and Others July ad-
vanced to 7S1sc, and December to 76s+c. At
and above 7Sc for July, Hutchinson fed the
crowd all the wheat it would take, and on
the little breaks he was a liberal buyer. The
tendency of his operations was to narrow
the market. The operations in the pit were
So on rather restricted scales. In the absence
of strongly bullish news New York devel-
oped an undertone of weakness toward the
last of the session. No great pressure was
necessary to put prices down fractionaly.
After hanging, for long while, around
77slc for July, and 76SS@76s4c for Decem-
ber, the mar market yielded, July
S@es TO Which S Was ana sne cesnp pres to
June left off at soc, and September at 75c
As compared with yesterdays last quota
tions the figures show an average decline of
which lost &c to &c. AS far possible the
manipulation In July seems to be dying out
Trade Is getting out Of July into the later
deliveries and short wheat was vastly re-
duced on the advance to SOC.
The corn market opened with weaker
tone in view of important changes in local
weather and the clearing weather reported
from the southwest, where heavy rains have
been almost continuous for the past ten days
The weakness was of short duration, how
ever, as reports soon began to circulate of
fields covered with water IN southern Illi-
nois Later, this news was supplemented by
diminishing receipts here the estimated in.
specton returns for tomorrow being placed
at 230 cars. The shipping demand was also
actiye and at higher prices, and the foreign
markets were lrmer. There was n fair
amount of business at an advance and the
range of prices was somewhat wider than
the recent average The export inquiry at
New York was reported to be unabated, and
present indications favor further lessening
of the visible supply on its next publication.
The declining tendency of wheat, and the
bright sunshine near the close oil the
nj m pnn nf fhA hAnt-p
what, and induced little short selling,
which caused prices, in tho end, to close
little below the highest of the day. July
shows u gain in the final quotations over
yesterdays resting quotation of Ac and
July Nc.
Oats shared in the general quietudc of the
speculative market, averaging firm, with
near futures slightly stronger, owing to the
modarate demand for account of filling in
shorts. July sold at 22$s(e2294c with Sep
tember at n fractional discount, while May
was freely offered at s5SsdT with oae
were fairly liberal, and the Withdrawals
were below the recent average. No. Q oats
to go to store, were strong, with light sales
Mt 22SS S0o221Ic. Oats by sample were in fair
request for No. white to 20 to store and
values averaged nc higher than yesterday
with the bulk of sales at 2614c, and some
trading in special houses at 26&c Rail
shippers and the local trade did q fair bust.
ness, and prices ruled somewhat higher
Free on board and on tho track lots ranged
as follows: No at 2l1Gc for fair, 2l34c0022c
for good e319 Q92iMc for white; No. d white
at 2614c for fair, 2619a2694c for good, 27@o
27}4c for choice; No, . at a3Q1o34c; No. 9
white at 2sc for good 2s16c for choice.
In provisions an easier feeling was wit
messed. The receipts of hogs were no larger
than the trade generally anticipated, but
they Unexpectedly sold lower, and exerted a
beaiis influence on the product. The spec
ulators, as u rule, were more inclined TO sell
than usual, and in the absence of outside
buying orders, and only light current de-
mand, they found the market in poor shape
to accommodate them. Their offerings helped
along the depressed tendency exhibited, and
lower prices prevailed almost as a matter of
course; short ribs We're the strongest article
on the list, though they suffered decline OF
21ac. Lard sold of for the day from 21Sc to
&c, and pork 5@116c.
CHICAGO LIVE srOCA MARKER.