Omaha daily bee., 1889-08-06
THE SPECULATIVE MARKETS.
A Big Consumptive Demand For
Wheat In Existence.
CORN PRICES OPEN UP FIRM.
A Good Business Recorded In the
Oat Pit-Provisions open the
Week Featureiess-Plen.
~ of Native Cattle.
CHICAGO PRODUCE MARKETS.

CHICAGO, August 5.-fSpecial Telegram TO
The EBEE.l-Speculativcly wheat was rather
dull to-day. Receivers and shippers, how
ever, are having plenty TO do. Grain ls leav-
Ing farmers hands in generous quantities.
A good deal Of IL drops of by the wayside in
transit. and that which is received at centers
Is in request. Arrivals at the four principal
primary winter wheat nnarkets-Chicago, ST.
Louis, Toledo and Baltimore-last week
footed up TO 2, 500 900 bushels, yet tho visible
only increased ABOUT 100000. This very
plainly proves the existence of an extraordi-
nary consumptive demand. A demand that
will absorb 9, 800, 900 bushels of the current
receipts of q single week Is too importantsa
factor to be ignored, and IT is teaching the
bears lesson. They are acquiring respect
for market they are prone to think lightly
of. When stocks at point like st. Louis
will actually show decrease in any one
week at q umo like this, the circumstance Is
ono that commands attention. Chicago's in-
crease Is by no means alarming Tho
arrivals for the week were less
than 100000 bushels, and shipments
were more than half that quantity. The re-
ceipts for to-day were 159, 900 bushels, and
shipments 2i7 600 bushels The estimate for
tomorrow 1.-TWO days) is 465 cars, and lake
cuRuBcIheubo WcEc icpOEbCu ioi iooiovV
bushels. In inner circles it was whispered
that the actual capacity taken was 10000
bushels. in inner circles it was also whis-
pered that the amount taken was nearer
BOZ, 900 bushels, but that the details could not
be given up. This is, therefore, printed for
what it is worth. 1t is certain, however
that there was q brisk demand for cash
wheat at Nc advance upon Saturdays prices
A liberal movement of wheat both ways is
expected by local grain men, December
wheat was quoted at 7Sl4c at the beginning
of the session. The price was not long III
getting to 7S1sc, but it broke suddenly to
7SKc after the car lots estimate for to-mor-
row was In and the visible increase had been
posted The recovery was sharp and de-
cisive and the market continued to harden
until the end The closing prices were the
best for the day on the whole list. December
left of at 7s1sc, Just &c better than Satur-
day. September opened at 76s4c, ranged at
763e@1116c and closed at the outside. Aug
ust ranged from 76jSc to 77ssc at the last.
Corn ruled moderately firm at first, in
sympathy with wheat, but was affected in
the speculative branch by cooler weather,
which is keeping back the progress of the
plant and increasing thereby the chances of
frost damage. Another feature which con-
tributed some strength was a decrease of
165, 900 bushels in the visible supply notwith-
standing the increased receipts. Attention
was also directedto the small supply of con-
tract corn at all the leading centers of ac-
cumulation. The demand Tor corn was as
good as ever, and export clearances were
heavy from the Atlantic seabo2rd. Prices
showed about &c Improvement upon Satur-
days closing, being 35JEc for September to-
day, compared with $3.50 at the close Of the
preceding week, and May 37%c against 31Ac
Saturday.
In the regular market for oats good bust.
ness was recorded though trading was
rather less active than during the close of
last week. Prices again showed declining
tendency, which amounted to 1s(0asc. This
was induced by liberal selling on the part
OF a prominet house, together with big re-
ceipts. Out of u total of 344 cars inspected
fully 155 were new oats. In the aggregate
named which exceeded the estimate. were
81 cars Of contract grade. Withdrawals were
only fair, and cal lots of No. 2 regular sold
off &c TO 2O13c.
The provision trade opened the week in a
featureless manner: In It's different branches
no activity to speak of was exhibited, and
there was no unusual developments. The
shorts appeared to be tho largest buyers OF
property. Offerings, however, were moder--
ate and, as consequence, the market doubt
less possessed more strength than might be
expected under the circumstances. Prices
also averaged little higher than Saturdays
level all around. In pork the day closed
with an improvement of 71S@lOc, and in lart
OF 21<01716c. Short ribs at the close were
quoted unchanged to 26c higher.