Omaha daily bee., 1889-04-26
THE SPECULATIVE MARKETS.
Wheat Bullish and Prices Average
Considerably Higher.
CORN STILL CONTINUES FIRM.
Oats Rather Quiet Though Firm
Provisions Go Up Little-Not
Much Change In Cattle
Prices-Hogs.
CHICAGO PRODUCE MARKETS.

CHICAGO, April 25.-[Spccial Telegram to
THE BEE. The spirit Of the wheat trade
was bullsb to-day, and prices averaged con-
sideiably higher than yesterday, cash and
the whole list of futures participating in the
Improvement. The change Of sentiment was
occasicned by the change Of attitude on the
na. Of several prominent operators, and by
the gradual development of feeling among
conservative people that perhaps the next
crop had been discounted as much as it was
safe for the present, and by marked i'm
provement in the cash trade The coolness
Of the weather may have had something to
do with this revulsion of sentiment The
wheat plant is very far advanced as rule,
and the bare thought Of possible frost
is terrifying TO the shorts as well as
to the producers. The opening this
morning was about 9ac above
yesterdays closing. There was lively
deal in May, June and July right from the
start under the varying conditions. There
was plenty of May wheat for sale at Sic, and
it was with difficulty that sales could be
made June, on the contrary, was bouyant
rom the jump. The opening was nominaly
sl4c, but very little business was done be-
low SIC, active trading beginning around
S!Mc. The active demand for June started
Nay, and that, too, suddenly jumped, going
from slc asked, to Sla4c in very short time.
June did not stop until s2llc was reached
From the outside range as given, there was
ase(99Sc reation, but the general undertone
OF the market was that of strength. May
closed at 7sHc and June at sl&c. July
,~,mm %neat q opened s1e at Size, an over night
quickly made, but after the wire edge
of the boom had been dulled the price worked
on 70 7SAc. Hutchinson, Ream, and. in
TACT, the great majority of the professionals,
were busy buying, and the sentiment was
general that continuation in the upward
movement was in order. July wheat was
rushed up from 7se4c to 791ac. A reaction
10 E5sc was noxt in order, and for the last
hour the price hung around 7914c and closed
there. As compared with yesterday May
closed at an advance of &c June 11lc and
July &c. Operations in futures were about
the average in volume The public is taking
quite a lively interest in the market now,
cheerful expressions as u rule. The under
lying cause of the improved feeling in wheat,
which is not confined to Chicago, but takes
iff.the whole country and part of the old
world as well, is the active milling and ship
ping demand Flour makers are taking
wheat wherever they can find bargains. At
this poiht mlllers are taking contract wheat.
one sale OF $4,000 bushels Of No. 2 red for
immediate shipment being reported, as well
us smaller lots for country points.
There was continuance of the firmness
shown yesterday in the corn market, the
main support Of which is the demand for
cellent demand to-day at higher prices. The
foreign markets were reported firm and
higher, but, as noted above, shipments from
the Atlantic ports were light. From New
Orleans yesterday 1900 bushels We're cleared
for London and 1000 bushels for Rouen
The receipts here are running light and al
though that is probably caused by the favor
able weather for farm work taking up the
time of the farmers which would otherwise
be used in drawing grain to market, it has
It's effect upon the minds of the SPECTATORS
The smaller quantity inspecting No. was
AZ in favor of more confident buying. The
market was narrow and confined to range
of from &c to sc, and the closing prices
show gain OF about 5sc per bushel. The
demand is best for the more deferred de-
liveries.
Oats were rather quiet, though firm, with
liberal aggregate speculative business noted,
largely in the way of changes. There was
free selling of May at about 224c, and buy
Ing Of June in exchange at 2316c, or &c diff
ference. May sold at 225sc up to 222l (9221ssc,
together with June ranging at 23(9231s and
July at - further premium of &c. The re-
ceipts were only moderate, but there were
> advices OF larger shipments from country
points after to-day, in order to escape storage
charges before delivery day next Wednes-
dcy. No regular, in cars, sold at 22ssc,
and the receipts dated tomorrow at 225kc.
Provisions experienced little reaction
from the late steady depression. In the
purriy legitimate surroundings Of trade,
Including the condition of the hog market
and the demand for cash product, there was
no radical change, yet the feeling was firmer.
The shorts considered the time Opportune to
cover, and as their buying was heavy and
protracted, and proved TO be more than suffi
sent to absorb the offerings, sellers were
able to show considerable independence
They, III fact, held the balance of power, and
for pork prices at adjournment showed net
advance for the pay of 12}a@l5c, and fol
shcrt ribs of 719@l0c. Lard closed un
changed to 21Sc higher.