Omaha daily bee., 1889-06-27
THE SPECULATIVE MARKETS.
Bulls Again Make Themsel' ,s Felt
in Wheat.
Corn Opens strong in sympathy With
the Buoyant Feeling in the Chief
Ccreal-Hog and Cattle
Quotations.
MATERIAL ADVANCE.
CHICAGO PRODUCE MARKETS..

CHICAGO PRODUCE MARKETS.
CHICAGO, June 90 Special Telegram to
THE BEE The bulls toed the mark this
morning with mischief in their eyes and
determination in their look, and with cir
cumstances still favoring them they Sc
cured further material advance. July
opened at sic, sold off to sO9sc, advanced
again to sl14c, of to sOl4c, then rapidly to
s116c, off to sic, again upward, this time to
sisfc, and finally closed ut sl2sc, or l1sc
higher than it did yesterday December
was very active and business was fairly di
vided between 1t and July. 1t kept gaining
on the latter month, and from being &c
lower than July yesterday, closed to-day on
an equality with tho other month. The
strength of the market at the close yestcr-
day was continued with added impetus from
its interval of rest. July, which, after the
regular close had sold on the curb
at S0Ic, opened at sic this morning. The
principal strength came from the irmness of
foreign markets. London was quoted
stronger, with good demand, and Liverpool
was firm and higher but some private
cables added that the advance was cnecking
business. The home news was less scnsa-
tonal than on the previous day, and after
the first furry had spent itself the influence
of the improved weather began to affect the
market. Sober second thought seemed also
to suggest more conservative review of the
situation and appeared to find some argu-
ments in favor OF the bear side, which had
been temporarily ignored The northward
march of the reaper was an item in the cal
culation. A commission firm here bought
forty cars OF new wheat ut Indian
apolis at soc, to be delivered in
this market early in July, which
fact gave the appearance of nearness to
heavy supplies and caused q temporary
break of about lc from the opening price
News from the northwest was somewhat
conflicting. A letter from Washington, Oak,
was shown on change which had the appear
ance Of candor in Its tone not always observ-
able in such communications. The writer
observed that within radius of thirty miles
of Washington "A yield of twenty bushels per
acre was the present outlook but being sub
ject to the not unusual contingency of the
destroying hot winds i'll July, for the two
Dakotas the average crop could not be looked
for, according to this writer. Some atten-
tcn was drawn TO the relative prices in this
and o.her;markcts tending to show that Chi
cago was unduly high, being about &c above
st. Louis and far above the shipping
basis to New York The answer was given
to tins in the demand for cash wheat, which
existed here, and which bids fair at the
present rate of absorption to make the de-
liveries on July contracts a difficult matter
of accomplishment Bull news predomi-
mated and with pit full of nervous bears
less than to-day's crop of disQuletng rumors
would have sui1iCed to make strong mar
!et. The boards correspondent figured the
quantity aiioat for Europe and England ut
9G0,0QJ bushels less than week ago. The
clearance of wheat and flour from Atlantic
ports were liberal ana charters were made
here to-day to take out los 900 bushels of
our already small stock. The receipt Of
much lower quotations for French rcntcs
and drop also, though loss radical, in
English consols which the cry of
war which was responded to by rapid
advance from around soc for July
to SlMc. The ancient bugbear of European
quarrels is once more suspended over the
market by the hair like the fabled sword Of
Damocles. The vagaries of prices, should
this continue, are impossible of prediction.
Corn opened rather strong, chiefly in sym
pathy with the buoyant feeling in wheat, and
July sold to 35l5c, but speculation was light,
and the weather. being more seasonable and
more favorable for crop, the market was
dull and wheat began to weaken. Corn also
lost what little strength it had shown III the
early hour of the session and July sold off to
35c, improved later sSc, ana closed at abou,
35]sc At tho close seller July was about the
same price AS it closed yesterday, and seller
September about sc higher. Interest in
speculation ccnters largely in wheat and
corn The inspection yesterday was 29I cars
of which 2@i cars were of the contract grade
This is better trading than usual.
Oats were quiet and generally easier
partly in sympathy with corn, and also be
cause of the lack of buying orders. July
shorts lave pretty well covered or changed
over to deferred deliveries and the BELLE
prevails thar old oats are still plentiful il
the country, with many to come forward
July sold early at 221S0f,3c and later at 23SIc
with September At nearly the even price
while May was offered sparingly and rela
lively stronger ut 26i4t9N35c. No, oats tc
go to sterc were easy ut 22%<c.
The provision trade was fairly active. The
interest shown in wheat dctracted little
from the attention which this market woulC
have commanded otherwise, yet there va:
more than an average stir. In a speculaJiv,
way there was some enlargemcn
Of business on outside account
though the trading indulged in consisted in
changing over July contracts to September
Transfers of the kind indicated were made
at II premium, as Il rulo, of l5Wl7l5c fer porl
and lard and l2lGCdl DC for short ribs. CAST
buyers continued their late liberal buying
though the amount of property taken was re
stricted by the limits of their orders. as The
prices were in many instances under tn,
views of the holders. For immediate deliver,
pork sold at Sl2 90 lard at S6.G0d6 6216, win
ter cured Ii lb sweet picked hams at l04c
and II lb sweet picked hams:at ll14c TIT
hog receipts were Il little under expectations
The product WAS generally well supported
and the day closed at Il higher range al
around. In pork the net advance established
was &c, IN lard 214c, anI in short ribs 2j9 6