Omaha daily bee., 1889-07-13
The SPECULATIVE MARKETS.
Wheat Exceedingly Nervous With
e. Lower Average.
NOT MUCH ACTIVITY IN CORN.
Oats More Active Compared With
Thursdays Prices-Provisions Ex-
perienoc Another Slump-SIow
Business in Cattle.
CHICAGO PRODUCE MARKETS.

CHICAGO. July l2.-GSpecial Telegram to
THE BEE. The wheat market was exceed
ingly nervous to-day and averaged somewhat
lower than yesterdays closing range, but
the slumpiness seems to have been pretty
well checked. Several big lines of shorts
were covered, imparting something like
feeling OF steadiness to prices at times, but
popular trading sentiment is still bearish
Outside news was not sensational and what
there was In circulation was of n conflicting
character. New York parties wired early
that the United States consul at Odessa had
cabled that the damage to Russian crops was
greater than had been reported Foreign
market news was not bearish particularly,
though it was not strongly bullish. Foreign
ers who were anxious bidders for wheat up to
two days ago seem to have stopped their
clamor, but there Is good reason to believe
that they have been fairly free buyers
OF wheat here and in New York to-
day. New York reported that no wheat
had been taken there for export to-day, hut
that, on the contrary, q few little lots had
been resold. The rehash OF the Russian
crop news had only momentary effect
Domestic news affecting values embraced re-
ports that anywhere from 300 cars to 800, 600
ohoucIo VI WuCdt WcIS tAptCuSu Ill d. LOUIS
to-day, that 35 cars. of new will be in for to-
morrow's inspection, and that the movement
of new wheat has fairly set in throughout
the winter wheat district and the west wires
that Dakota's prospects have improved of
late and receipts at Minneapolis arc very
large, indicating a desire on behalf Of the
owners and railroads to get back country
wheat to the front. The local market was
rather narrow and very largely Of the "pro--
fessional" order. July bobbed around in a
peculiar fashion. IL opened at 1S1Sc and
changed at 775s9S0c, fuctuating at k@Qlc
between trades sometimes. The break IN
July has dampened the ardor Of the country
shippers TO some degree, but it was noticed
that whenever anybody wanted To buy July
they had to bid for II. December wheat
opened at roc, and during the first hour, or
thereabouts, ranged at 7Ss6(879Isc. The
market advanced on the foreign crop scare
rumors and covering of short wheat, and
sold back on the sentiment engendered by
the impending big movement of new wheat.
1t broke from 791sc to 7Sasc about noon on
bearish advices from ST. Louis, ana re-
covered slowly to 7s1sc The close was at
7SHc. September ranged ut 1875 sG977c, and
rested at 763lc. The closing Of the market
was only small change as compared with
Yesterdays operations, not on an cNtrava-
gantly large scale. Nothing of Importance
to the cash trade was developed.
Export clearances of corn from Atlantic
ports yesterday were heavy, but at New York
to-day there was said to oe less inquiry and
prices there were lower. The principal con-
trolling circumstances in this market ut
present, however, are the weather and the
reports ut primary markets. There was not
much activity in speculative dealings. Shorts
were the best buyers. The change in prices
from yesterdays closing figures We're unim-
portant, but what slight difference occurred
was in favor of the bulls. July closed at
51I935skc and September at 35Xc, being
q 0f 4 1Rfs nd =, tbap. ~
80 upon the previous days final quota
tions.
Oats were more active, and, compared
With yesterdays latest prices, tho market
appeared for May, and the trading was
chiefly in that month. With receiving houses
selling, May touched csc, but only part Of
the buying orders at that point could be ex-
ecuted, with 76@11c Improvement following.
September sold largely at 2ls4@2l1sc. The
receipts exceeded the estimates, but this was
discounted by the large withdrawal from
store, aggregating nearly $4,000 bushels.
No. to go to store sold at 22,4@22l<c.
In provisions another sharp slump oc-
CURED, the late continued break having
weakened the backbone of the trade. The
market was in good shape for raiders.
Cudahy and others, favoring lower prices,
opened the days business with free offer
ings of pork, and as their selling forced the
unloading of large amount of stop-over and
poorly margined holdings, severe drop took
place. Pork WAS selected by the raiders as
their field of operations, but the depression
forced IN that article quickly communicated
to other lines. In the entire market the
bears early had the swing, and before any
signs OF reaction were discernable pork
sold down from Yesterdays closing 271fc,
lard 719c, and short ribs 1215c. During the
last hour or so of the session, however, there
was something of q recovery of the ground
lost. The withdrawal of the raiders allowed
the market to regain its strength, and before
the close pork advanced from the bottom fig
ures S5c, lard Sc, and short ribs 71Sc. Com
pared with Yesterdays final quotations, the
decline actually suffered was only 21fc in
pork, and 21S@713c in short ribs. Lard
closed unchanged to 215c of. On the break
and also on the rebound there was considera.
BILE excitement, and the days speculative
business exceeded an average volume. Pork
led throughout in interest. Trading, as
usual, was confined largely to September.
which sold at $l1.O5@1l.3O for pork, 90 500
6.3714 for lard, and S5.671d@5.771f for short
ribs. Pork for the same months closed at
e1l.80, lard at 60. 80. and short ribs ~ s5.75.
Cash property was quiet