Omaha daily bee., 1890-08-29
THE SPECULATIVE MARKETS.
Wheat Acts Heavy in Spite Of Good
Support.
CORN, LIKE WHEAT, ON A DOWN GRADE.
Oats, as ell as other Cereals, has its
Interesting Features-Provision
Hold up WeIl-Cattle
and Hogs

CHICAGO, August 2s.-[special Telegram TO
THE BEE.l-There was a battle In wheat
today. News early was very conflicting and
both bulls and bears determined to carry the
market Liverpool cables came l4d of for
spot and futures. and receipts here were 145
cars, where the estimate gave but % cars
These two things caused weak opening with
prices L0Jkc under the close OF last night
Then bull houses came TO the rescue with dis
patches from the northwest giving accounts
OF the rains spelling wheat in the shock.
Buying orders were also received from that
source. There was rumor also that liberal
export business had set In at New York
On this sort OF news and good buy
ing led by Baker Co., land Logan
& Co., prices rallied &c from the low figures
on the first decline. This was the top for the
day although the closing price OF yesterday
The market acted heavy. IN spite OF good
support and at the end OF the first hour the
price OF December was OFF 1c from the top,
aud held stubbornly around the put" price
of last night. Once this was passed there was
about 1890 another break carried the price to
the lowest point touched up to o'clock and
fiuences were weak and lower cables. No
new export business at New York or other
ports; small clearances for the week bearish
sentiment among the local trade and no large
interest to give the market rallying power.
The Price current estimated an exportaabMle rita bic
In 1850, i2OOOOOO in 1888 and 1i7, 100000 in 1881
The action OF the market was: September
e1.0414, off to OF; December, Sl019s, TO Sl07h,
70 sl.GGS,. TO sLO7i4, to slO!ai, 10 sl.O5li, 10
tlo6,s to si05. to 81 0GlA to sl.05b, to slO5's,
% esry anS 81 to @ Beiarsy n%y tse seS
there was an upturn OF nc, in September
wheat, from sl.ol TO Sl02I5. and &c in Decem
ber from siO13s 10 sLO13s, and May from sl.oo
Gables came easier wa and nd lover in
Se conn ns coay %E6nys wSs @sansF Sos
able. The curb, was weak before
the floor opened Hc or more under the close OF
night. The market held very steady and mar
s0Rc RHTSps RHppsgPRe wss
May and Boyden & Co. took freely of Septem-
oongdon CO sold Tr' heavily S0 later st' Receipfs 9
were less than the estimate at 356 cars. Ship
ments e were were liberal at 9O2'oIo bushels.
The Price Current says that rains have inn
& g., this his Tps ps na,, on the @ bull side side.
grade, Long corn pressed on the market and
bears and scalpers played for break and got
hc pa sod off T to dc S before s9e Nav
deal Of business around 5llsc, touched 5ll4C
close. Corn recovered but little before the
close. September was at 4G1lc, the lowest
October closed at 4fSc. May recovered LC
from 5Olsc to 5Qac at the close
The oats trade has its Interesting features
firm hold on ali cash oats and any one who
wants stuff for the present month has to pay
mp for it. The Wear commission company II
was said, had to raise the price to 3Sc to get
little August oats this morning. AT the same
time May was OFF lsc at 3Sbc. September was
Influenced by August and after opening a
4 3Blsc sold up to 361c Even May rallied from
3sfsc to 39Sc during the morning.
When the general selling out in wheat and
corn came later oats went off Also with Bart
lett-FraZer the best sellers. August closed al
&C. September broke to 35Sc and closed al
35c; October closed at 35sSc. May sold at 3s1a
and closed at 3sisc. On the break Hutchinson
bought December and Norton-W -Worthingtol
May
The provision market held up fairly wei
4 until late in the day and then the declines
we're not in proportion with those in othe
markets. The greatest decline was In mes
pork. September was on 25c at the close Il
tl0.5e; January zoe to Sl2.21h, closing at l2.30
May, sl2g2la, closing at sl2.91h. Lara CLOSED
but SC lower all around AT s632I8.