Omaha daily bee., 1890-06-17
THE SPECULATIVE MARKETS.
Race Between Longs and Bears as to Which
Could Sell the Most,
COMPARED TO WHEAT CORN WAS DULL
Nats Active at Times, But the Range
Narrow-The stock Market Has
Seldom Been So Bccalmed
as Now.

CHICAGO, June 16-tspecial Telegram 10 TnE
BEE. Water seeks its level and wheat, which
appears TO have been unnHturally advanced In
price, drops back &c or moro very easily. Inc
day In the pit on change was very lively
one. IL was n race between longs and bears to
see which could soil the most stun, While the
break Is principally charged TO the pressure OF
long wheat, 10 is q sure decline and received
great help from professional bear operators,
who stand ready to pound the market at every
opportunity when 1t looks at all safe. There
= vas no startling bear news and no panicky
feeling at any time. The selling
was started by local houses and
The decline brought selling orders from the
northwest and southwest. A few heavy lines
held here were liquidatcd and prices went
down with n swing but no crash. Tho visible
Idpply was expected to show q decrease OF
crease Of n year ago. Even this failed aud
the decrease posted at noon was but 2l&OOO
bushels. There was little Of rCdccming ma
turc IN the outside news New York cleared
10000 bushels OF wheat ana Il fair amouhI OF
noHr b4t the LiVcIRoo, cables We're o. m auiI
see 10 Bigclow & co. on the crop irbthat state
aud kentucky was offset by letters from
E@TSpaan fE9r2aS as craps l%e ascaddo as fhIy IaaVy
selling early, was done by, Edwards & C3"
Green and Il fair amount Of unloading By
Hutchinson. Later, orders from the north
west were executed by Baldwln& & Farnum.
and'lIutchinson sold more freely, Tho last
named also bought a pile on the early break
first hour ended it. After II o'clock however,
- there was another selling craze and prices
went still lower, The action was as follows:
July ssi4c to sG3ac to Sil4c to sGAc or % under
Aihe opening and 2iac under the close Satur-
hay. August sold from SsAc to sG'sc to
tt'V to s75c "tt' 10 sG}!c; SSSs december " so'sc
to ssc to ossaac TO s7rsc Wheat on the curb was
little changed July was at SEC seller ana later
Soc bid. with little business; puts SiMc to S5lac
to Soc calls sG'sc to sit8c to sGbc. There was
no, good support in wheat at all. After /
the bottom for the day at June soc nominal;
July soc, August s6,6c september S@,ec, De-
around from the close Saturday. Selling out
by Cudahy and the general liqgidatlGn of The
local trade, beside heavy outside selling. did
the work a large short interest was no
doubt created.
near the close, when the market was fairly
active, but dull in comparison with wheat.
Tho cutting of rates east of Chicago promises
TO increase the movement ana shippers were, were
buyers Of July corn in an unusual way early
today, This gave an early firmncss to the
whole market. The visible supply increased
for the week 100000 bushels. The stock here
increased $4,000 bushels. Late in the day the
Anglo American packing company turned
free sellers of July around to Sac, and this
weakened the market and caused drop OF
l4c for July and decline in the other months
June sold early at 3ilac and closed ut JiBc;
July "a A5GcGI4iAc, closing at 3llsc for seller
August 6'lc to d4Bci September '55 to $3.50
The export demand for oats mt New York
, played a large engagement here Saturday and
the bullish feeling of the local trade kept oats
firm today TO- the close, when everything else
weakened. The market was active ut times
but the range of prices was narrow The clos
Ing prices were Identical with those or satur,
day, June was quoted at 2Sc and 2SlBc anC
July at 2si9cGt2s%c, closing at 2slBc; August
2GG626i i6c0l25Bc, closing at 2Gc; September
25l3cGJ255sc, closing at 254c. The visible
supply decreased 10000 bushels for the week
The activity in mess pork may be knowr
for July all day and that the closing price
of Saturday, Sl2.S5. The market for short rib
from the yards early gave a decline of &c to lOt
n hogs, which was partly reee0yered later
/July lard started steady at $502I2, sold at
S5,sil5 and closed at 1870; September, sG.l0, ol
2'sC lower; Ribs sold off to 1914 at one time
and closed sc lower for the day ut $500; Sep
tcrnber ut $52O, after selling at $5179a. Packers
were sellers early