Omaha daily bee., 1890-01-05
THE SPECULATIVE MARKETS.
Government Crops Report a De-
pressing Factor in Wheat.
CORN WEAK AND NEGLECTED.
Only n Moderate Business Trans
acted in the Provision Pit Cattle
and Hogs Again in Active
Demand.
CHICAGO PRODUCE MARKETS..

CHICAGO, Jan. Especial Telegram to
TIL BEE. THE government crop report,
making tue crop of wheat 400, 200, 900 bush
els, was q depressing factor in speculation
today. The wheat market opened this
morning weak and demoralizing, with May
quoted at S26kc. 1t spe edhly ran down to
S2isc, which point was bumped against sew
eral times. Partridge bought heavily below
S21Sc and Hutchinson also bought freely.
Subsequently, he took offerings on a large
scale and he was also accredited with being
q big buyer of wheat in st, Louis. HIS pur-
chases there were placed by some as high as
1000, 600 bushels aud a number of wild esti-
mates Of the extent of his operations here
were afloat, u few naming 100000 bushels
as the measure of his buying. The natural
result of this heavy concentrated absorption
of offerings was au advance in the market to
the point from which the decline started.
May worked up from S2h5c to S294@S3Sc.
Later 1t sagged back to S2H@S225c, but dur
ing the last twenty minutes of the session
the market experienced a sharp boom, going
to s2Jsc and closing at s294@SaBc, or only
1sW4c below yesterdays close. January
ranged at 711s@1Sc and left off at Csc, which
was a triile better than yesterday, Buyers
were not altogether dissatisfied with affairs.
The ending was better than they expected
from the proceedings early In the day. They
quite recovered their nerve before the close.
The news for the most part was bullish.
Gables reelected fair steadiness abroad.
The corn market was weak and dull and
| in a great measure neglected by spectators.
Receipts here were 633 cars. Receipts at
other points were not excessive, but acCum.
| ulatlng stocks are being reported from every
where and that had It's effect upon to-day's
prices. Bradstreets' figures, showing an in
crease OF about 5000, 900 bushels in stocks in
sight at points covered in their enumeration,
helped the declining tendency, and the
weakness of the wheat market also assisted
in the same direction. Spectators are also
ooking for an increase in Mondays
visible supply of grain Of about 3,OoO.OOO
bushels, and point to the price at which No.
3 is selling in the cash market when asked
their opinion of the present prices for May.
Trading was limited to the doings of the
s~calpers in a very great measure, but now
and again a line of long corn was dropped by
some tired holder. The closing prices show
some recovery from the lowest point of the
day. but are at about sc under those of the
day before, and as follows: January 2914c,
February 29l5c ana May 3lJsc.
Oats were quiet and easy. There was mod
crate trading in May, but operators did not
seem to take any interest in nearer deliver
les, with little or nothing doing in conse-
quence in the month named. The market
sagged &c to 22c, but,there was sufficient
support at that point to prevent u decline.
Tho receipts were about as expected and
Withdrawals from store we're increased to
80, 010 bushels, all No. !. Regular oats were
inactive at 20c and cash trading was con.
fined to samples.
In the provision PIT only a moderate spec
ulatlve business was transacted and the only
notable feature of the session was the pur.
chase by Norton g. Worthington of some
seven thousand barrels of May pork at
around SO. 10. OF this amount 5000 barrels
was sold by Wolff. who .bunched'' several
orders to sell at that PRICE, The remaining
1000 barrels of the purchase were scattering
lots. These transactions excited some com.
ment because it is part, evidently, of q large
buying order which has been here for sew
eral days and under which about fifty
thousand barrels Of May pork have been &C
cumulated by Norton g. Worthington, Logan
Il Co., and Poole & Co. The general tone al
tho opening was one Of tirmness and in early
dealings mess pork worked up 5@71s, May
going to S9.T23. Later a reaction OF $50
l0c occurred and the undertohe thereafter
was easier, the final closings being 2405t
below those of yesterday. Lard and ribs were
weaker relatively than pork. Prices fol
hogs at the stock yards were well main
tanned, but a run of from 165, 900 to l75, 600 IL
being figured on for next week and this wa:
the principal cause of the easier closing to
day. The net loss in both lard and rit
futures was 2n015c. The May future O.
latest quotations for May property stood a
S9.62I<99.65 for pork, Ss.0O@B.O 2iS for lart
and a. S23 for ribs. Eastern markets wer,
steady and only u limited shipping Gemant
was reported. Cash sales embraced lard a
$3.50, 16-pound green hams for January de
livery at 714c and 16-pound sweet picked
hams at SUS1ic,