Omaha daily bee., 1889-08-20
The SPECULATIVE MARKETS.
A Dull Day and Narr ow Fluctua-
tions In the Wheat Pit
CORN PRESSED FOR SALE.
Oats Pursue a Quiet and Uneventfui
Course, with Price Changes Small
More Cattle Than Wanted
Quality OF Hogs Poor.
CHICAGO PRODUCE MARX ETs.

CHICAGO, August l9.-TSpecal Telegram 70
THE BEE. This was dull day In wheat.
Trade in futures was not large and price
fluctuations were within narrow limits. In
the cash branch of trade no especial activity
was noticeable. December wheat opened at
Tkc, languidly moved to 75c sold of go
and for couple Of hours stayed close around
77%c When the visible supply figures were
posted the market settled to 172Ic. At that
point 1t met with stiff support aud rallied to
7T16c where IL remained almost immovable
fer the remainder of the session, closing,
however, at 7Sc. Dull as the market was,
and heavy rs 1t seemed to be, there was un.
questionably considerable wheat wanted.
Offerings were limited aud any effort to pur-
chase a big line would almost certainly have
put the price up. Possibly IL the big bears
had resorted TO their old time slugging tao
tics the market might have broken, but none
Of them seemed disposed to resort to aggres
sive tactics and values were not subjected to
a strain either way. Nothing occur red to
disturb the quiet of the proceedings. Au-
gust wheat opened at 77l6c, ranged down
to nc and closed at 75c bid. Sep
tember opened at 1910, sold off
to 761<c and closed at 762lc The
closings record small decline as
compared with Saturday. Local speculative
sentiment Is bearsh, though wheat has
good many strong friends among the conser-
vative class. The unwisdom OF any artificial
attempt to boom the mar ket is felt very gen
orally. and the desrability of IA free export
movement during the front end of the crop
year Is also very fully appreciated. With
this feeling so strong everybody seems to
rather look for somewhat lower range of
tine a
big early rush of spring wheat, and the un.
disguised desire of the monied and milling
interests OF the northwest to see the new
crop year begin with wheat selling cheap.
The continuance of liberal foreign demand
for spot grain may interfere to some extent
with this programme but good weather is al
ready stimulating the movement of winter
wheat and a proongation of the same sort of
foundations may result in pilng up of sup
plies that will encourage short selling. Up
to the present time short selling has not
been INDUCED in with customary freedom,
and the market is an even keel with no huge
interest dominating either way.
The corn market opened with considerable
pressure to sell, which was fairly met by
shorts who were willing to accept their
profits. Trading after The first few minutes
was quiet and dull and at 35c for September.
There was sufficient demand to absorb offer
ings and cause slight reaction. War mer
weather and heavy receipts tended to create
the weakness observable, and the increase
of the visible supply was another weak
feature. I he closing prices were IS &C for
August and 351s s035]4c for September, being
from sc 10 &c under those of Saturday.
Oats pursued quiet and uneventful
course, with price changes narrow and un-
important, tending to easiness. The liberal
increase in the visible supply of nearly a
million bushels eXerted no appreciable influ-
ence, as had been expected, but there was
little buying support as the receipts and es-
Inmates were both large. The weather was
favorable and corn tended to easiness. May
was saleable ut 235sc, a sc decline, with
September at 201sM204c. No. 9 white for
August sold fairly well at 24lic and No. 3
September was offered at 24c No. regular
sold at 2O1sc@2014c, with samples III large
supply.
Provisions evidently failed to strike rock
bottom in their break of last week. They
opened this morning with a little showing Of
strength, but befoie operators had fairly
gathered in the pit the old weakness as
sumed control. In the trading that followed
the bear side had the call and prices speedily
started in a downward direction. Hogs
were in moderate supply In Chicago but in
the west the days marketing was 1000 head
larger than on the corresponding day a year
ago. In the product speculation was a little
slow, and almost wholly on local account.
something Of an improvement i'll the de-
mand. Lard was taken by shippers at
S5. 5.12E(d6.l7}3 l6-lb green hams at re, l6-lb
sweet picked hams at g81c and short ribs at
S5.l0. Based on Saturdays final quotations
the closing prices showed u decline of 50p116c
In different deliveries of pork and oeptem-
ber and October lard, 71SCQl0c on September
and October short ribs and 21ac on January
short ribs. January lard was auotably un-
changed.