Omaha daily bee., 1890-07-03
THE SPECULATIVE MARKETS.
Contest Among Big Wheat Operators, With
sCalpers Following.
NOT VERY MUCH SUPPORT TO CORN
The Break In Wheat Causes oats to
DcclinC-Provision Trade Some.
what at Sea-CattIe and
Hog Market.

CHICAGO July 2.-tSpecial Telegram TO THE
BEE his was another big day In wheat on
change. IL was Il day in which there was IA
contest among big operators, with scalpcrs
following first one and then another The
acton OF the market was not on news or con-
ditOus so much as on the Influence OF big
transactions in the pit. There we're two dis
tinct actions on prices, each equally expected.
The market started with July lsC lower at SIC;
August hc higher at ssllc; September 4c
lower atssdc; December sc lower at 0Jc. The
news at hand was not significant. The dis
patches rchashed the story about wet weather
abroad and claimed especially much damage
In France The official cablegram confirmed
Beerbohm's big decrease in wheat on the ocean
passage. Liverpool cables were Ic up
for spot aud futures. Where thrcshing
was In progress there were reports OF good
quality and light yield Now York cleared
bO.OOJ bushcl Is Trading began with Mr.. iutch-
inson proh. incnt ON the buying siut. He was
seconded by II, Smith, VINO bought freely
at times. The crowd followed and several
large commission houses filed liberal buying
Orders. The action was strong and prices
rose quickly about lc all around--July to ssc,
August to sgilc, cptcmbcr to sJbc, December
tobAc. This was the top for the day. The
Bss RBHsH EHea ~t tTo, G0 E o Gc6sIu bPss
els. Rcai" ana Linn, professional bears,
both jumped on the market. Sell
the prices, The scaping crowd turned
WIN TIE market and prices went off as quickly
rs lltN advanced, ABOUT II O'CLOCK tnt DOl-
tom was touched, with July at s6Sc August
sac. September sslsc and Dee -rbor ut s0a.c,
break OF laic in September an. over / cent on
other months There was "a little rally to
sSAc Tor september before o'clock. Deliver
les Of wheat at offices were reported very free
all day, Wheat was very heavy at the close
after the hamucrlng OF the market. July sold
OIL to sChc at the close or hC under the top
price early. August sold down to S119c; Sep
tembcr closed at SSi4c; December touched
s0jsc and closed at So &C.
Aside from "A prct good demand for July
corn by shippers and a few local traders early,
there was not much support to the market.
Tie last prices were the lowest OF thc day and
about &c under the close vest crdhy. Receipts
were u little larger than expected at 4O2 ears.
On Il dcmund for July the price went to Al4 c
Ajc for few sales, but closed at ai's0;A1tc;
September, $3.50 of to 359sc; October sold at
3Glsc and 35bc to the close.
oats. Ike corn, lost "a all around before the
close today. This much decline might easily
be accounted for by the break in wheat. July
sold 21Ssc to2Mc; August, 2G7dc to 2jhsc; Sep
tcmDcr 2G1aC to Di4C with August and Sep
tember shade better ban the bottom figures
at the close; December, 20c at the close.
The prov ison trade was somewhat at sea to-
day. stocks as given out are large. showing
16OOO barrels of mess pork, g2.O0O ticrccs OF
lard and 30 1000 of short ribs. The feature
of the day was the selling of both lard andribs
10y Hutch inson, selling of lard by Armour &
Co and the Anglo company, and an attempt
of the clique to get up an interest in mess
pork. Mess pork sold at Sl21O and of to Sl2.lJ
for July, and Si?1O 10 10 at the close for Au-
gust; september sold at fl2.OO ana OH to II so;
lard closed steady ut $685. for July. after
selling at $40 and 1865 short lbs were at - .05
and OF 70 800 for July, and 1925 OH to 1920 for