Omaha daily bee., 1889-06-05
The SPECULATIVE MARKETS.
Varying Crop Reports With Little
Effect on the Market.
lNolANA's NEW KIND OF BUG
Corn Ruled Weak at Yesterday g
Ciose--Not Much Change in oats
Cattle Remain Firm and
Hogs Higher.
CHICAGO PRODUCE MARKETS.

HE DEE, l--lub WutuJ uluThtb udu u IdllcT
firmer tone, to-day, and the average range
of prices was above the level of yesterdays
closing quotations, though the close was
tame. June, July and December wheat are
now running along, close together, with 1c
limits. June wheat sold, to-day, at 1870
76ssc, July at 75@75Ssc, and December at
15s@76$c. The closings were zoe for June,
75lSc for July, and 751sc for December The
news bureaus, so long SILENT were at work,
to-day, and their product was as varied as
the heart could wish. In some of the private
cables mention was made of an unfavorable
outlook for the Russian crops, and of better
prices being asked for Russian wheat. AS
rule, however, the foreign advices could
could not be construed as favorable for hold
ers. The domestic crop reports are conflict
ing, but the public has not yet changed
its preconceived opinion that the wheat yield
is going to be something unprecedented.
The temperature in California is getting
dangerously near the point where the deni-
zens Of the slope become apprehe nsive of hot
winds, but no damage on that score is yet re-
ported, though houses with San Francisco
clients report buying orders from that city.
On the other hand Linn. has advices from his
California correspondents forecasting a co.
600, 900 bushel crop in that state alone, On
the strength of this information he sold con-
siderable wheat to-day. In the same line
were dispatches from Kansas City to Ken
nett that the harvest was becoming quite
general in southern Kansas and slowly
working northward, and that the hot sun
was fairly making corn Jump out of the
ground" Southern Indiana, however, con-
"new kind of bug" The crowd give the
new bug the laugh, but it may be "getting
there" Despite the seeming excessive dull
ness in cash, what market there is is good
evidence that the price has got low enough
to be attractive to foreigners, and inquiries
from English Importers are on the increase.
Offers are asked for good-sized
lots in Chicago, Baltimore and New
YORK, +, and n, reports Of new new business
bids were received close to the market This
goes to show that American wheat has a
value after all, in the eyes of foreigners.
With respect to the local cash Market it may
be said that there is moderate demand for
good wheat, and very little doing in cheap
grades. The interior mills are taking very
little wheat, and to-day's lake engagements
foot up to $4,000 bushels: The outside is not,
as yet, taking very lively interest in the
| market though the low price is attracting
good many local operators to the investing
side, among them such workers as Driver,
Logan, Lipdblom and Kammerer. The sense
of the extreme weakness, so apparent for
some time past is absent and the opinion
prevails that the maret is ready to broaden
somewhat. The volume of business done In
the pit, to-day, was moderate and of char
acter principally local. The prices at the
close were about the same as yesterdays
and the situation has undergone no special
change.
The corn market was frmer, princ pally
on diminished receipts and scattered reports
of damage from cold, wet weather. On the
other hand, reports from Kansas were to the
effecv that they were there enjoying hot,
forcing weather, which was bringing the
corn along as finely as its we'll -wishers could
naaira The clOSa Of the m rlyot
weak and at it's lowest point for the day,
July closing at the same price as it did yes
terday but cash and June and August were
| &c higher than they were at the close OF the
day before
Oats were active during the most of the
day, and after a period of tirmness early,
ruled weak to g to I4c below yesterdays
close Deliveries on June contracts proved
| larger than at first expected, and there was
| a disposition to sell June, with some chang
| ing of this month into September. Later
| they opened frmer at 221sc, but sold off to
| 2211c, with June at 22]sc, down to 21a1c.
| settled to 2214 922ssc, with prominent oper-
ators later offering to either buy or sell at
| 22Ac. No. oats to go to store were dull at
2l2s(929c later in the day. The posted re-
cepts and shipments were both LIBERAL
| chiefly of No. white.
In provisions there was no radical change.
| Early in the day the moderate run of hogs
reported was used to strengthen the market.
III SnOTu rlpS, parIlculdriy, tHe Dull move
| ment was started, presumably, by Cudahy
| and before it eliminated, the prices ad-
vanced l0c. Pork and lard followed short
| ribs in their upward turn, In a half-hearted
manner and also improved little. The ad-
vance, however, failed to command any sup
port. 1t made the shorts, for time, feel
| uneasy, but even their buying doubtless
| occasioned disappointment, for 1t was in
When the prices were at the top notch, sell
| ing became quite general; and under the cx-
| cessive offerings, trade receded sharply
| Based on yesterdays last quotations, the
closlngs were unchanged for lard, unchanged
for short ribs.