Omaha daily bee., 1889-08-22
THE SPECULATIVE MARKETS.
Wheat Improves in Price With
Very Little Animation.
A euLLlsn TONE TO CABLES.
Corn Opens Firm with slight Al
vance and Liberal Oherings-
Provisions Siow--Oattie Trad
ing Unsatisfactory.
CHICAGO PRODUCE MARKETS..

CHICAGO. August q. Special Telegram to
THE BEE.1-Wheat was firm at somewhat
improved prices to-day, though trade was
far from animated aud fluctuations were
narrow. In the local marSet the shipping
demand was less urgent though the scarcity
of vessel room may have had something TO
do with this There was some talk Of
further inquiry for wheat here and in New
York for shipment to the Argentine Re
public, hut, although the news seemed TO be
straight no details could be obtained. New
York reported little new business. Gables,
as general thing, were bullsh in tone.
The weather in England is decidedly un
settled and the market is feeling the effect
of meteorological conditions. Weather news
from the northwest was in the main un-
favorable, but it is clearing up and the near
future looks bright through the
west and northwest. The threatened
frost scare did not prove serious. Very
light frost at low points IN northern Ne
braska was reported, but warm wave be-
hind allayed the fears OF anything more of
the same sort right away Dry weather
ahead is naturally associated in the minds of
traders with the idea of increasing receipts
of both winter and spring wheat, and rail
road Gdviccs confirm this theory to certain
extent. This tends to strengthen the grow
ing bearsh sentiment, though as yet the alb
sence of actual pressure of large receipts,
coupled with the fact that stocks are small
and the export movement free, tends to
maintain values on steady basis Decem.
Der opened at 7iJsc, over night, u gain of
small fraction. The market advanced to
7Sl4c, sold off to 1sc, advanced again to 7s4c,
but reacted to 7S01S1sc and closed at 7Slsc.
,a ahA
terday. September opened at 771sc,
ranged at 77@771Sc and closed at 71l4c.
August, which closed at 7i1sc, started
in at 77}4c, advanced to 7sc and
left off at T7l4c. The cash market was
firm at the Improvement, more probably
on account of the moderate receipts than the
actual urgency of the shipping demand, 1t
will take something more than anticipated"
receipts to produce serious weakness in the
nearby end of the market judging from the
present appearances. Speculation was on a
rather restricted scale, though the volume of
business was in excess of that of Monday or
yesterday. The lines seem to be forming
and the period of uncertainty is apparently
drawing to close. Much depends on the
weather in the near future, both OF home and
abroad. Foreign advices with regard to the
Russian crop are still conflicting.
There were reports of low temperature IN
some apprehension of frost damage to night,
and this created firmer feeling at the open
ing of the corn market. The resulting ad-
vance brought out liberal offerings,
and the slight advance in the
early transactions was all lost. The
price of September corn settled to 35c and
renamed at about that figure the greater
part of the day. The opening was at 344c
and the selling at $3.50. Quietness was
once more the feature of Texas trading. with
narrow range of price changes. Export
clearances were light and the receipts close
to the previous days estimate. Closing
prices were: August 341s@35c, September
Soc and May 36S4c
Though quiet, oats averaged fully steady
to firm, especially on near futures, while a
moderate business was done in May at the
former range of 221s@24c Receipts were
only moderate and withdrawals from store
were increased 20 2l4,620 bushels and there
was fair inquiry for round lots for early
shipment Speculative trading was chiefly
local, with this and next month around 20Ac
No. 2 in store and to go there sold at 20 go
203sc the outside being paid for round lots
No. white was frmer at 241sc for August
and 231sc for September.
In the provision pit rather slow day was
passed. Far interest of u general character
was shown but there was no life or freedom
in trading Armour, 1t was said, mad 3
some purchases of short ribs. while a
stronger undertOne in the market naturally
induced shorts to do little covering Oper-
ations of all kinds, however, were on re-
strained order and without special feature to
speak of. Holders were comparatively light
sellers, and the trade, as II general thing,
presented more encouraging appearance.
The changes made in prices We're also in
favor of an advance as rule. In pork, the
appreciation established reached l2l50 l5c
for September and October and 216c for
January. Short rios for near delivery closed
at an Improvement of DC and for January of
2Ic. Lard was regarded with less favor
than either short ribs pork, and for Sep
tember, declined 21fc. October lard, how
ever, was advanced NC while January was
unchanged.