Omaha daily bee., 1892-02-07
THE SPECULATIVE MARKETS
Wheat Was Extremely Nervous and Closed
Under Fridays Last Figures,
NEWS WAS OF A BULllSH CHARACTER
Bradstreet's Report of the Exports from
Both Coasts for the Week is Alleged to
lie Inaccurate-Acttvity In stocks
and Bonds.

CHICAGO Ill, Feb. 6.-Wheat was extremely
nervous today. and though IL averaged higher
much higher at times-it closed at u shade
under yesterdays last figures. The news was
only OF a bullsh character, though some OF
the items of intelligence calculated to affect
values, both for and against higher prices,
were declared to be inaccurate or untrue. and
here were su'plcions that the ne VS. manufac-
tory was In operation For instance, IL W as
given out by one of these that the story about
winter wheat damage from frosts In France
could not be true inasmuch as its French
correspondent had furr ished the recent tenn
peratures in that country, showing that
the frost line had not been reached. On
the other hand, while Bradstreets reported
the exports from both coasts for the week Mt
substantially the same figures as for the pre-
ceding week n statement was handed around
that this was incorrect aud that there was In
reality, an increase OF about z5O,00U bu. The
market was In such n nervous condition that
1t responded readily to such influences. rnere
Is understood to be large short interest and
the steady upturn for the past few days has
created some alarm and there was more dis
position on the part of shorts to cover and
even some OF the most stalwart bears were
proceeding with more caution. Even Pard-
ridge was not plunging with his usual reck-
lessness; In fact he bought some until the ad-
vance culminated, when he turned seller
again.
At the start there was a good deal of nerv-
Gus strength left over from yesterday and 1t
was reinforced by the bull news. Cables were
all quoted higher Paris showing the most
advance This was said to be due to serious
damage III She French crop and fear OF more
to come This was in fact the principal anu
milton Of the bulls and it was used for all 1t
was worth At the start prices were from
&C to sc above yesterdays close but
the advance led to heavy realizing
sales by the fortunate longs and under these
offerings there was IA quick drop. When this
pressure was off, however, the market showed
Its buoyancy by speedy reaction but later
weakened again and lost the gain. May
opened ut from 02c to 92l4c against 9lssc at the
close yesterday. sold off to 0l&c. advanced to
03l4c, broke to 01hc. rallied to 99lac, Guctuated
several times within the established range,
broke to OF lasc again but closed firm ut Olhc.
Corn was more subject to the influence OF
wheat today than 1t has been for some time
past, 1t opened excited and higher at 43c,
against 429sc at the close yesterday. sold of to
42ssc. advanced to 43Ac. broke during the last
hour and closed at 424c The trade was
only were the belated shorts coming In. but
investment buying was on the Increase. The
situation has not changed materially, as 1t
was apparently strong enough before, but the
feverish condition in wheat has impaired q
similar tone to corn .t
Oats were more active and strong, but de-
veloped no especial feature.
Early in the session hog products were
rather more active and firm in sympathy
largely with the buoyant feeling in the other
pits. but weakened some later and closed at
slight advances.
Estim; ted receipts for Monday: Wheat 100
cars; corn, 200 cars; oats, l50 cars; hogs, 26oOO
head
The leading futures ran red as follows: