Omaha daily bee., 1890-07-30
THE SPECULATIVE MARKETS.
Prices in Wheat Let Down Early, But Re-
ceive Boost About Noon.
CORN AFFLICTED WITH THE SAME SCARE.
Oats Closed Better Than Any of the
Cereals-There Was an Uneasy
Feeling Among Traders
I'm Provisions.

CHICAGO July 20.-[Special Telegram TO THE
BEE.l-Tradc was greatly at n loss in wheat
today. steam was up and IL being largely
local and professional market they put In the
day letting down prices early and boosting
them about noon, with another easy period
later In the session, But all the time the lar
ket was rodhot, not so wicked as on Monday,
but lively all around market. There was
plenty OF news, but IL was largely disre-
garded; operators did business on their feel
ings. COnce rning the weather and its effects
on the rlpenlng crop there was the widest
range OF stories and dispatches. The market
opened with let down OF about fc all around
from the close of yesterday. This started
Scptember at 0iasc and December at 06Ac.
First trades in August were at 027sc and in
December, W4c. The longs had wheat
TO sell, but buying the iirst ,ali haif
6Se % Decem6er ie II for Nav Tis This bTohsht out
very liberal offerings and without any fresh
bull news TO add 70 the buying, prices yielded
slowly before noon 20 Oilc FOR septembcr and
Il like amount for other months Then came
dispatches to Mccormick & Co. claiming
hall eropi in south Dakota and "a three-fourths
crop In North Dakota and Minnesota. This
was followed by the government forecast of
hot dry winds for the northwest for the next
Louis dispatches reported steamers arriving
there with empty sacks that were reported to
come loaded and swell recelptss there. On
thissort Of news trade went wild again and
September wheat was forced up TO
Wlic with scattering trades as high
before l O'Clock, rose to MAc. This was n
temporary bulge, and September dropped
GasE to Sl,r @9G in ih9rt time nmd again rallied
unusual activity at the close and prices kept
within the early range Last prices were &c
nominal, August 0!4c, September Oi&c, De-
cember 0G26c, May ODIsc. on the curb Septom-
berwheat sold at Ol9sc to Oilac Puts 03,dc.
The corn market was weak and strong by
turns today, ana its periodsof quiet and great
point OF uncerta inty it was a great market but
for strength and range Of prices it was not to
be compared with the mild climbing
show OF great strength, however when
there was no violent breaking down in prices
wheat more or less. First prices were from I,c
to &c under the highest closing figures OF last
first and a rally took place. Finding that the
bull craze of yesterday was not on again there
was as quick an effort to unload first pur-
chases. September dropped from 1910 to 45c,
the low price of the day for the first half hour.
When September was at the bottom May sales
the absence of rain on the weather map caused
abulge, which carried September to lG4c and
Nay May to 5Vc. The high point for august was was
to461ac and toward the close of the day held
close around I6c.
was the 'Vo same ,'" that ep sStn set tGads tpads
wild yesterday-'a continuation OF dry
weather over the corn Delt. Whatever the
facts may be- the trade fears serious damage
ana this not only prevents the short selling
even on AN advance, but causes many who
have bought all way up to hold on for any
further advance which may come on u crop
scare. The market d i'd not close with as much
force as expected and last prices were about
tho same as opening figures: July 45c, August
45c September 45Ac, October 4jIc and May
soc. Corn was 4o!ec for September on the cur
al " o'clock. Puts i37sc and cal 4716C.
The oats market was the only one on the
floor which closed with prices u frac tlon better
than last night, This was due almost entirely
TO the action OF Mr.. Hutchinson, who wcntinto O
the pit at short intervals and bid over the
market for small lots. In this way the price
OF September was advanced to 3I9sc and the
close was at Sl2c, or lSc over last night. Other
months closed: August 33hc, October 3|l4 G,
and May 36Mc. The highest point on May was
37c.
There was an uneasy feeling among traders
In provisions ali day. The paeiaers nude IA
drive at ribs early and sold September from
to.37H to $3.50, and buying by shorts later put
the price up to $40, and the close was at $l37% "A
Lard was steady with increasing strength,
which lifted September from S6.2D. the opening
figure, to S6.2iIa at the close. In pork there
was firm opening at Si5J for September
with a sharp decline to sl0.0O on small sales
and later the price went Off from S1l0O to
SlO,5O quite sharply, and closed at SlO70, or zoe
under yesterday.