Omaha daily bee., 1891-04-18
THE SPECULATIVE MARKETS.
Remarkable for Strength and Wild and Bx-
Cited Trade.
UNUSUAL TRANSACTIONS IN WHEAT,
Another Big Bulge in All the Cereals
Provisions Quiet, Cattle Steady
and Hogs Five Cents
Higher.


and Hogs Five Cents
Higher.
CHtcAao. April i7.-tspccial Telegram to
THE BEE THE opening of the board Of trade
markets was remarkable for the strength
shown and the wild aud excited condition OF
the trade. The force which Was carrying the
markets rapidly higher Mt the close yesterday
simply expended itself in burst OF trading
the first few minutes when prices were
marked up TO some what SURPRISING figures, In
wheat opening tho bulge took May to sLOJ at
once, with scattering trades claimed as hlgh
sL00H. July opened at SLOTlG to sLOS. There
was a dip to SLOsiA for May and siO6S forJuly'
and on the second rally went TO SlOsA for May
and tl07iS for July the irst hour, followed by
an easier feeling towards IL o'clock. May corn
sold at 1c over the high closing price Of ycster-
day, going to 7jAc and OF to 72Ac the first
hour May oats rose to 5Tlfr. Pork opened ut
l0c TO i5c advance. ribs jC up and lard slightly
higher Free offerings by local parties caused
prices to settle back to the closing figures OF
yesterday.
Tho Chicago wheat market passed through
an unusual days transactions Trade took up
the great Dull market whore IL was broken OF
at the close yesterday, and marked prices up
very sharply. What might have taken IA
whole day or Il whole week under other
circumstances WIS accomplished III IL lNN
minutes. There was u great rush at tho start
by fellows who were short, or lad no wheat
aud wanted sOmo badly The hrmness OF
cablcs-Lycrpno "a uD and spot wheat very
firm, London illing higher on cargoeS for
prompt snrpm ! t-ony addol to tho local
bull feeling. Minneapolis udviccs were quite
bulish on flour. Shorts and bulls and outside
orders all conSDred to force prices ut the irst
moment. The market opened with II rush at
tl.O0 to Sl.OOs for May, and tl07H to SI.Os
for July Buyers OF yesterday saw
an excellent place to unload wheat,
and there was very free selling
by Dunn Il Co.. Hutchinson, S, " White & Co"
Baldwin Furnum and many other houses.
New York also sold wheat here. This caused
sharp drop in prices to SLOS4 for May and
tLOGS for July In the hour which followed
there was little rally to Sl0sA and Sl.O7la for
May aud July, and second drop to SlCS'6
and 81 GH. At this point second buying
wave struck the market, helped on by later
cables, ana On a great bulge prices went over
the morning figures, touching SL092I 70 r May
and SlO71t for July. At 10 o'clock prices were
holding pretty firm around S.00 and sl.O7 for
May and July. The receipts and clearances
contained nothing unusual. Minneapolis and
Duluth had Isl cars. The former point re-
ported all products of the mills for the week
sold. Later Pittsburs reported patents
marked up 4Oc from $3.50 to $500 q
barrel Philadelphia and Baltimore clear
ed 27OOO bushels of wheat, anC
New Orleans $1,000 bushels for Liverpool
New York cleared no wheat 2l0O0 sacks OF
-four Toward the close news was less positive
and the market showed signs of subsidtng, bu
prices held firm. A few minutes before the
close all calculations were upset by the sud
den upturn in prices the Pacific coast dis
patches May sold up to Sll0ts and July t.
t1.0S'6 The close OF the wheat market wa
even more sensational than of yesterday. Th
price OF May was forced up to Sill and Jul,
to S1.O0 with the close of 1sc under at 81 Oh
and $l0SS or a gain from last night Mt tn
best prices of 3osc for May and 2hc for July
April was quoted at Sl0Sh to sl1Oh. On th'
curb the excitement in wheat continued
Privileges in May for Saturday sold at slUsi
and $l.13l4, and July at Sl,064 and s1.l0A ut
o'clock.
The corn market was greatly unsettled
There were quick turns both up an
down. There is a disposition among man
moderate traders and scalpers to kee
near the shore. They buy quickly on breaks
and sell quickly on bulges. As on previous
days the strongest point in the market was
made on cash demand, and when No corr
sold above 74c. The receipts here were %
cars, and for Saturday the estimate is 2i0 cars
showing gradual increase. This had littl
influence In the pit. At the start May sold q
1880 to 73ac or 1c over the high closing pric
yesterday. July sold at 60Hc to 694c. At thu
same moment there was reaction to 724c il
May and Gs&c in July, with the first drop II
wheat The second advance, due to the in
fuence of sample trade, was even stronge
than the early movement and prices went fly
ing away above any former figures, going t
741sc for May and 6024c again for July. Ere
offerings put prices back to 73c for May an
60c for July. On the third bulge befor
1 o'clock prices moved up to 73'ac for Ma
and G04c for July, At the close the eXtrem
prppS for the Oay for the Leading months
corn were: May, 726c to 74Ac; July, 6sAc
G0ac The last few minutes of the sessiC
brought free selling and less support, al
prices dropped back to 7:s9c for May and 6s5
July 3ac under the close of last night. In IL
deferred months August sold for 619sc ar
6slSc and September at 6daic and 6s3ec bot
months closing at the low points for the da
Oats followed the example set by wheat ar
corn and ruled stronger, May delivery open,
at 56aic, sold down to 56Iac, advanced to 57s
and closed finally at 81 7ldc, or lsc above yeste
days closing price. June sold from 564c,
5Gc, to 5ihc to $3.50 at the close. July sta
and closed at 5i2sc. August sold from 4
down to 30s6c closing at 3o2lc, Soptemb
closed at 31Ic, after having sold as high
3si4c,'
Compared with the grain markets the pr
vision trade was quiet The highest prc
for the session were made at once after Il
opening when the advance over the close ye
terday was l5c to zoe in pork and 2t3c to &c
other products. The close, compared wi
Thursdays closing, pork was sc lower I
May and steady for July; lard was 25sc low
for May and 2Isc higher for July; The actl
for May was as follows: Pork, Sl3,l0, to.SH
TO Sl20O at the close; lard, 800 to S1,O2la
tG,95 to S6,91A; ribs, Si471s to $3.50 to sd,45
PRICES AT CHICAGO.
Showing the range of prices In the leadl
options, as reported by Cockrell Brothers.
COMMODITY, Open, Hsh, Low, CLOSE Yes
WHEAT-
%ny S%iy"::.: iIS? g. IL iES Ss,. 5ss 5sIs F{