Omaha daily bee., 1890-02-03
THE SPECULATIVE MARKETS
Wheat Values Average Better, But
Very Little Improvement Shown.
ACTIVITY cHARAoTeRizEs CORN.
A Fair Degree Of Firmness Witnessed
In oats-stronger Feeling in
Provisions An Up
turn in Hogs.
CHICAGO PRODUCE MARKETS.

CHICAGO, Feb. ~l.-lSpecial Telegram Ia
THE BEE. The wheat market manifested
n disposition today TO respond 10 bull in.
huences-practical influences in the form of
buying orders-but speculative energy is at
low ebb and the trade was of light volume,
consequently values, though averaging
rather better than yesterday, show no i'm
provement worth the name. Gables we're
steady. Minneapolis dispatches represented
country elevator stocks in the northwest at
S.s5O,OO0 bushels, against 10. 0I5, 900 bushels
January 1, and a small decrease in the visi-
BILE Is promised for this week. Contributions
to the statistical news budget were gener-
ally bullish. But, az before stated, specu!a-
tive energy Is found to be in a languishipg
state and the markets do not muster up spirit.
The market had rather a strong opening
on reports of decreasing stocks at home and
abroad. on the evident willingness of the
bears to see a rally and on an article in n
local paper going to prove that the invisible
reserves in farmers hands are smaller than
is generally believed TO be the case. Initial
trades were on u basis of $3.50. The price
was held with considerable tirmness around
1SA0IS1c for quite a time. II then worked
down to 1s1Sc, rallied feebly, but closed at
the bottom, with February quoted at 141sc,
March at i6c and July ut 161Sc.
There was quite u shaking up in the corn
market, and, for such a slow moving body,
remarkable activity characterized its action
today. This change was due to the drop
which the delivering out of about 500, O0O
bushels before the opening brought about.
me market, however, was ripo for such a
decline. Holders have been gradually losing
their grip for some time and it took but little
pressure to force their hand. There was
nothing in the situation today which might
not with equal propriety have been
said about it a month ago. but, like the eff
feet of the constant dropping Of water on a
rock, the long continued and oft-repeated
bear argument of big crops and phenomenal
mild weather exhausted the patience Of the
longs, and they were freely disposing of
their property at what the shorts would pay
for IL. The market rave a show Of frmncss
for a few minutes near the start, but soon
weakened and sold off from Nc to sc. The
only buyers were the shorts, and they did
price got we'll down. The closing values
were: February, 2S5s@2S94c; Maj CHI. 295sc
sellers; May, 3lssc BID; July, 32c bid.
Oats were much less active than during
the earlier days OF the week, but a fair
degree OF tirmness was present, especially in
May, with buyers at 223sc, that month beng
early held a shade above the figure named.
a few traders from the wheat pit showed an
Inclination to purchase at medium figures,
while near futures were entirely neglected..
'ShS Nv ee'iN V VI consequence vi
February contracts. and this month was
nom.aally easy at 20A@201sc. with No. Q
cash about that range. New York re-
ported 3d. 35 bushels taken for
export, and local receipts were
slightly larger than expected. The in
creased selling near the close caused weak
ness.
In provisions a firmer feeling prevailed
and an advance of 10c in pork was estab-
lished. Light receipts and the light average
weight of hogs and free buying of the pro.
duct by several large houses was the cause
for a stronger tone to this market. The
Anglo packing company bought about s, 200
barrels OF pork and also some lard. Helm
holz and Hutchinson were also large buyers
of the product, especially of pork. The mo at
prominent sellers of pork were Baldwin +,
the international. and Samuels. Morreli
sold about IS. 900 tierces of lard. The cash
product was quiet, with only q fair demand
For May delivery pork opened at $40. o.,
ranged at slo.0c@l0.O7h and closed at $40. O5
@lO.01H. Lard for the same month opened
AZ So. U2H, ranged at s5.OO@G.O 2h and closed
at 81. 0216 bid. Compared with las nights
closing pork shows an advance Of 10@l2Hc,
lard nbout 2ls@ &c and ribs 21Sc.