Omaha daily bee., 1889-08-16
THE SPECULATIVE MARKETS.
Wheat Exhibits Rather Active
and Easier Feeling.
SHIPPERS GOING FOR THE CASH.
Corn Dull and Lower. Influenced by
Weakness in the Leading Cereal
Provision Show no Improve
ment-Quotations.
CHICAGO PRODUCE MARKETS.

The BgE.l--The wheat market was active
and rather easier to- lay. Cables were firm
Weather advices from abroad were conflict
ing. Some dispatches made the weather
clearing" and others unsettled" New
York reported more or less inquiry for cash
wheat but, as matter of fact, there is little or
nothing there TO export. In this market ship
pers were active inquirers for good wheat,
which commanded 17c premium until late,
and lots in desirable houses were quoted as
"a scarce commodity" The failure Of wheat
to come forward from the country
seems to have created local
scarcity OF wheat Holders have
in a measure drawn into their shells. There
is now in the city less than 100000 bushels
Of contract wheat, which is small agent in
an ordinarily active Shipping market, widely
scattered as the grain must be. Arrivals in
Toledo and ST. Louis, as well as here, are
grading poorly, and an increase in winter
wheat receipts is not seriously looked for
until after seeding unless the weather
should turn out phenomenally favorable for
threshing from stack and for movement from
first hands. Weather in the northwest is
improving, and anticipations of big
early Improvement of spring wheat
are revived in consequence of
advices from Minneapolis and Duluth and
points in the Dakotas. An area of very low
barometer is coming in from the extreme
northwest, however, and the whole situation
in that district may undergo a radical
change within the next forty eight hours.
Operations In futures were above the aver
age In extent though fluctuations were
within narrow limits. December opened at
1880, advanced to 7s1sc, sold off to 7Sc, raj
lied to 7S180To15c and closed at 7S1Sc. There
were many minor fluctuations, but the above
represents the main course Of the market
August opened at 7Sc, ranged from 7Sac
down to 775fc and closed there. Sep
tember opened at 7Ic, sold down to
1890, which was the bottom and close
There was q strong undertone to the market,
but the trouble with futures seemed to be
that lot of natural bears had gone in for a
bull turn, and, finding themselves loaded up
near the top, were ut work simultaneously
and quietly unloading. This probably ex
plains the seemingly mysterious source of
supply that the operators in the pit could
feel, but could not see. There was good buy
ing of wheat during the first half of the
session for northwestern and for New York
account, but the demand from these quar-
ters let up as soon as the market turned
down, and it was not revived up to
the time of closing 1t was noticeable.
too, on the decline that the offerings of cash
wheat increased, and the premium over Aug
ust disappeared at last executing in special
houses.
The corn market was dull and lower, in
fuenced somewhat perhaps by the easier
here was promising to be warmer. The i'm
provement in the weather was the main
feature causing the weakness to-day, which
continued IN spite of the rather free buying
of a prominent operator. Prices started in
at q No to nc decline from the previous days
close and worked off trife, but fluctuations
were narrow and trading light. September
closed at s5ssc, being &c lower than on yes
terday,, August and May declining proper
tionately.
Oats were quiet and weaker. Receipts were
fair, as for some time recently, and marked
weakness was developed in sample lots, with
bids on No. 8 white reduced 1@1hc.
This produced heaviness in futures, with
little buying support visible and down
turn in prices OF M94c. May sold fairly
In provisions there was no change for the
better. Hog receipts at packing centers
continue to aggregate comparatively large
this past week of 1550OO head against only
10000 for the corresponding time year
ago the bears had no trouble TO- day to main
tain control. In general . trade a
demoraiized state Of affairs existed and the
buying witnessed came almost wholly from
parties engaged in covering short contracts.
Even packers failed to show as much inter-
est in the market as yesterday, while invest
ors, local and outside, practically deserted
the field. Cash buyers were also timid In
their operations, ana the days business GER
taiuly presented few or no encouraging
features 1t was a blue day for holders and
sellers and prices all around touched the
lowest point so far reached on the break
The declines suffered, in fact, were quite
severe. They amounted. based on yester-
days closings, to 2216c on September pork,
1216c on October pork, 124c915c on Sep
tember and October lard, 5@71fc on Sep
tember and October short ribs, 71Sc on Janu-
ary lard and 21Sc on January pork and short