Omaha daily bee., 1890-01-19
THE SPECULATIVE MARKETS.
Wheat Ranges Comparatively Low
but Closes Strong.
CORN CONTINUES LIFELess
Oats Dult-A Slight Flutter in Pro.
visions - Cattle Lower Than
Any Previous Day OF
the Week.
CHICAGO PRODUCE MARKETS.

CHICAGO, Jan. 1S.-lSpecial Telegram To
The BEE. Liquidation Of long wheat and
covering Of short wheat constituted the fea-
ture of today's business in the pit. The
longs were rather more anxious to trade
than the shorts and n lower range of prices
was the consequence, though the closing was
strong at the best figures of the session.
The outside markets were q shade frner
than the Chicago and outside news was not
on the whole unfavorable to holders, but the
course of prices was against them. That is
the cold, practical Offset to any amount of
favorable statistical, report or crop news.
The first trading IN May was on a basis of
SO9{c. The market sold off to S0SSc, and for
quite a while ranged between S05Sc low and
S0sl@SO1sc high. Towards noon the pres
sure got heavier and the market gave way
to S02sc. Only one or two sales were made at
| the inside and S0Hc may be said to have been
| the bottom price at which any considerable
| amount Of business could be transacted.
During the last half hour operations were on
a somewhat liberal scale and the tone Of the
market was stronger. The price got back to
Sic and closed at S02S@S1c, with January
resting at 761Sc. February at nc and July at
79Hc. On the whole a large business was
| done during the session. Advlces from the
| bedDUdTu lnulCdlS u VcNlNdl VI eNpOTU DuSl-
| ness to o limited extent. The decline of the
last two days seems to nave struck q few
foreign orders for cash wheat. Baltimore
advises of the working of nine boat loads,
S41&c (. o. b. being the price. Gables were
generally easier IN sympathy with the Amer
| lean markets, but news from that direction
did not bristle with points of special I'M
portance. Local gossip was not of a Kind
TO excite one. Floor traders were as
a rule engaged in taking profits and
stopping losses. Some GOOD sized lines were
liquidated and covered. but individual trans
actions did not loom into striking conspicuity.
The ~lifeless corn market today was in di-
rect continuance of the state Of affairs pre-
viously existing. Cash corn appears to be
not far from the limit price at which sup
plies can be dragged from farmers hands,
taking the price of No. 3 as representing the
basis of comparison it would appear that
enough for current consumption and some
thing of a surplus to tide over the seasons Of
bad country roads and other contingencies
can be secured for 26c or Whereabouts, and
bears continually point to this fact and ask
what present probable occurrences are
likely to bring forth buyers in May at 31Hc.
The argument of the bulls for the most part
is based on the present aDnormally low
prices and the chapter Of accidents. The
English markets were easier but it would
appear as If this was merely in sympathy
with this market, as a good demand was
i otlll ~ ~ oCabohi VIC II v
ing prices were from 11Scto 1-l6c better than
yesterday.
Oats were dull on the regular market
with an easy tone prevailing in spite of the
statistical position suggesting more stability.
The inspection sheet showed ITO, 900 bushels
withdrawn from store, probably to go into
vessels pending the opening Of navigation,
and the posted receipts were but So cars.
New York again reported O good export
inquiry. The local crowd was inclined to
sell, with May easy at 22c and June at 80
discount, receiving houses selling the latter.
Near months were dull but steady, and No.
2 regular was saleahle at 204c. No. .
white for May was weak at 23116@235kc.
There was a elimination Of the bullish
feeling that has been slowly generating IN
the pork market for the last few days. 1t
was only a Zoe bulge and that Was not fully
maintained to the close, but it must be re-
membered that the fluctuations have been
within 21a@5c limits all week. The opening
was steady at about yesterdays closing
covery that Armour, Allerton and P. ].
Ryan were buying, and that the packing
crowd generally were making at least an
outward show of friendliness to the product,
shorts quickly became restless and started to
cover. Then some of the gram crowd''
began to buy, and for a short time there was
quite an active movement. The competition
for offerings ran May pork up to Sl0.1O, the
sna May ay'aFG ribs of to L 9a 4'S5@4.s sS s. &h he
Anglo-American company bought lard
and the most conspicuous sellers of pork
were Partridge and A. S. White. Hutchin-
son sold fully a million ribs. The buying
for the most part in pork was scattering,
some stop orders being reached at sl0.021s
and above. From $40. 10 for May pork the
market reached to $40, ana closed at $40. 05
with February quoted at $685. asked, and
March at &c. so bid. This shows an advance
for the day of 15c. Ribs made a net gain of
&c. May selling from s.. 1925 at the start up
to S4.9714. Lard moved slugglshly up from
@6lO together, or "a split' better than yss.
Liverpool was reported steady for both spot
and futures of lard and bacon. At the stock
yards hogs sold up to 1880 for the best sorts,
making an advance for the week of a plump
l5c per 100 pounds. The receipts for the
week were nearly 10000 less than last week,
footing up 1871. 900 against l43. 900 for the cor
responding period last year. Cash lard,
hams and short ribs sold fairly. Lard
fetched So. S21@5.S5, green l6 pound hams at
u. 705s, and fully cured ribs at "a. 75(Q4.S0.