Omaha daily bee., 1889-04-27
CHICAGO PRODUCE MARKETS.

CnIcAGo, April 26 Especial Telegram 10
THE BEE The wheat market was in a
state OF dullness and uncertainty to-day.
Curbstone traders broke the price yesterday
afternoon l2w31c after the board adjourned.
The opening this morning was soft at loss
OF A@5sc from yesterdays closing range.
The first quotations were s0Ilc for May,
Size for June, and 7s1Sc for July. The
crop month got very little lower, but July
worked off TO 1Sj5c, the first Dulging TO 79c.
On the break the market looked sick, and
there was free dumping of the stuff around
the bottom, some sales being made at 1890
7SlSc. The outside markets did not sympa-
thize with the weakness here to any great
extent, New York being especially firm. It
was noticed also, that wheat buyers were
actively picking up all cash property they
could gather in at advantageous terms Hold
ers of receipts found no difficulty in disposing
OF their goods at premium over May,
special lots being in special request. 1t is
noted, too, that good share Of this quiet
business is being done on private terms.
which is taken as evidence that wheat Is
wanted on shipping orders and not for
speculative purposes. "Yellow tissue" re-
ports that 100, 600 bushels of wheat is being
loaded into vessels here, and that the grain
night. There is n great deal of indefinite
ness to the gossip that is floating around as
TO the operations IN the spot wheat market
as to the quantities bought and prices paid,
but the hardening tendency of the near by
end of the wheat market is plainly distin-
guishable. Through it all cables were gen.
orally firm and higher, and Beerbohm
quotes nc advance with active demand for
"cargoes off coast" Foreigners are reported
to be buying literally of May and June in
New York, and foreign bids for round lots
are reported tc be in the hands of the
commission merchants in Chicago at n
(0ic below the current quotations. When
the unloading of wheat bought on the bear
bulge yesterday was finished, the new crop
OF futures did better. The price of July
gradually worked up to 79c and then with
more show of spirit sailed up to 794@799sc.
The offerings were heavy above 79c, how
ever, ana the market settled back to that
vicinity and fractionally under. The closing
was on the soft order at 1870 or about &c
under yesterdays close. Drives & Lind
blom were conspicuous buyers late in the
session, but Hutchinson MADE a sudden
drive at the market, selling over /, 200. 900
bushels in about fifteen minutes Nearly
every market except Chicago closed higher
than yesterday. May wheat ranged at SOl1
0Slc, and closed at SO4c. June ranged at
S01s@Sl94c and closed at 81 &c.
The corn market was very weak. The de-
cline in wheat at the opening and the
brilliant weather were the ostcnsble causes
for Cue lower prices which were soon after
the opening prevailing in the corn market.
The chief cause of the depression, however,
was the number of orders on the market to
sell out May contracts before their maturity
necessitated the acceptance of the property.
Much heavier receipts than yesterdays estl-
mates were likewise an additional cause of
the hcavness, which was increased by the
estimated receipts for tomorrow ofl402 cars.
The foreign markets were very firm, and the
outward movement from here was on II large
scale, charters bing made to-day for 459, 900
bushels The closing half hours business
was fairly active, but the market was very
weak and at its lowest point at the close.
The decline was more marked and the feel
ing weaker than for very long time before.
The loss since yesterdays close was 80 in
May, June and July, &c in Augustand &c in
September.
That oats were unqualifedly weak was
undeniable, and after opening at 4 fraction
below yesterdays latest prices a steady
downturn occurred, until a decline of fully
1c was scored, at which time enough buying
orders appeared to stop further shrinkage.
Added to the lowering influence Of the big
recelpls for tomorrow, placed at $50 cars,
there was liberal selling of long oats, with
some of this attributed to the clique and the
little support aside from that was given by
the shorts. May opened 14c lower at 22l &C,
and sold off to 2l56c, with pretty general
. buying at the inside prices. June declined
to 221sc, and July was at about sc premium
Car lots to 90 TO store were relatively weak
with sales of No. 2 ut 2lSc The receipts
largely exceeded the estimates aud included
90 cars of the contract grades.
In provisions strong feeling was de-
veloped. Tho Improvement in hogs made
the bears conservative, and Yesterdays
higher prices for that product were followed
by another appreciation. The upward turn,
however, was quite moderate. In pork the
advance established was limited to 1l6(dQl0c,
and in both lard and short ribs. to 2I9G15c.