Omaha daily bee., 1890-02-22
The SPECULATIVE MARKETS..
A Big Wheat Market and a Very
Unsettled One.
CORN CLOSES WEAK AND LOWER
Oats Show Reduced Prices on all
MISUNDERSTANDING in Provis-
ions of small Nolume-Cat-
tie in Fair Demand.
CHICAGO PRODUCE MARKETS..

CHICAGO, Feb. 2l.-lSpecial Telegram to
The BEE. There was a big wheat market
To-Day and a very unsettled one. The OPEN
Ing was firm at the best figures Of the day.
The secret of the weakness later was in the
fact that the predicted cold weather was not
as severe as expected and did not result in
any scare among the shorts. On the other
hand, the bears were encouraged TO sell
heavily and the market went off easily. The
action in May was 7sLSc, to 7i24c, to 1sc, to
TLc, to 71Xc, to T@zc at l o'clock. June
sold off to 7TAc and July to 164c. Geddes,
Dunn and Robert Warren sold early. The
heavy selling of the day was done by
Cudahy, followed by Partridge. The
Weare commission company bought on the
decline and New York orders were to buy.
EARLY cables were bearish and the Liver
pool closing was 16Mld lower. New York
cleared no wheat and other Atlantic ports
IS, 900 bushels. Reports about the growth of
the winter crop In the south were very con
ficting. Beerbohm furnished some bull fig
= ures on the Australian crop. The market
was easily depressed at the close and touched
NJ for May a second time. The close was
Mt f7k@7i&c. Other futures closed: Feb
ruary, 75lsc; March, 759sc; June, T2sc;
July, Blsc.
The corn market was weak at nc lower at
the close. Armour was a seller again today.
February closed at 2734c. March at 2Slsc,
April at 29c, May at 29SS@29&c, Juue at
29&c, July NJ 3O14c, August at Sic and Sep
TENDER at 3l7sc.
Oats were active but weaker and lower on
atl deliveries. There was increased selling
by the ''longs'' and no demand of conse-
guence except from the Shorts" but their
purchases were not of sufficient magnitude
to sustain prices under liberal general
selling, and a recession of A@hc resulted
and the market closed weak at the inside
figures. The demand for car lots of No. 2 in
store was small and prices were quotable at
1a4@10Hc. There was more doing in No. 2
white for May. Sales ranged at 229224c
and closed at 22c.
Speculative trading in provisions was
again Of small volume. Local operators as
rule were not disposed to extend their
lines either way in view of the approaching
holiday, and as outside orders were scarce
the volume Of business done was away below
an average. Some bear pressure was again
put upon lard by a local operator who
has been selling May all the way down
from 1896, and today that future touched
SIS so, but aside from this and the moderate
buying of May ribs by one Of the leading
packers there was no individuality to the
trade whatever. The all-pervading dulluess
was accompanied by q generally weaker
tone. May pork worked down early to 50. go
which is the bottom for the week, but during
the last hour of the session the market raj.
lied to S9.97l5 without any special reason
being assigned for 1t. Offerings for fully
<.ured meats continue meagre and prices art
firm, especially for such descriptions as arr
wanted for smoking. Based on yesterdays
closing for futures, mess pork was un.
changed at the adjournment and lard ant
ribs exc lower all around. Deferred deiiv
cries OF pork brought a little larger premium
over May early today.