Omaha daily bee., 1886-11-16
The SPECULATIVE MARKETS
Reports Still Coming From the Northwest
of Enormous Receipts of Wheat.
CORN OPENS THE WEEK EASIER
Collapse IN the Price of Pork Tie
Cattle Market DulI--The Strike
settlement Advances
Hog Values.
CHICAGO PRODUCE MARKET.

CHICAGO, Nov. l5.-ISpecial Telegram to
the BEE. The increase in the visible supply
OF wheat for the week was less than $4,000
bushels, which was away below the figures
fixed upon by the prophets. Cables were
generally steady and iirm. From the north
west advices are still bearish, and statistics
show enormous receipts at Minneapolis. At
the rate wheat is pouring into that place it is
only a question of short time when the
elevator capacity will be occupied, and as the
Duluth warehouses cannot hold a great deal
more, the forward movement must of neces-
sity soon slacken up or else overflow barriers
and sweep down upon Milwaukee and Chi
cago. In the market to-day fluctuations in
the price of wheat were within narrow
limits. The tone was weak about the open
ing, first trades being at 7356m739Ic for De-
cember, and s0}6c for May. The market ral-
lied, however, and the price advanced &c
The outside was reached Immediately after
the announcement of the increase in the Wis.
ible, when 74is6eHltc was paid for December
and Sic for May. Values eased off slightly
afterwards but the O'Clock closing was firm
at about Saturdays closing range. Corn
was quiet but firm in the local speculative
market and from the opening to the close
of the regular session prices tluc-
tuated only about Nc, the l o'clock
quotations being essentially the same as those
of Saturday. With the weather mild and
brilliant nearly 800 cars estimated for Mon
day and the wheat market showing a rather
weak tone, the opening in corn was easier,
starting sales for December being at 405Sc. 1t
sold sparingy at that, however, and by slow
degrees there was an advance to 40H0641c, on
the split. The reported increase of 35S. 900
bushels in the visible supply had no effect
were light and trading, which was of local
scalping character, was of only moderate
volume. In earlv dealings, or when the mar
ket looked weakest, there was some buying
by shorts to cover. Eastern and foreign adj
vices noted steady feeling in other quarters
The price of pork collapsed on the board to-
day. The January option sold under $1,000
alter having touched SO 1713 on Saturday.
The question now Is, what effect will this
fortnight's stoppage of the packing houses
have on the price of the product.
The killing for the past two weeks at
Chicago Is about 200, 600 hogs under last year.
1t was 20 be expected that the killing at other
points would have increased, but it did not
for some reason or other. At Milwaukee
tee killing was even smaller than last year.
The bears on the product claim that the hogs
which have been kept back in the country
will be so much heavier than if they had been
age will soon be made up. The result will
after all depend more on the view the big
packers choose to take than on any est-
mates that could possibly be made. 1t is
by no means certain that things will run
smoothly at the stock yards at once. Ii is not
at all certain that big houses there will dare
TO- run wide open for some weeks to come.
When prices were the slckest George Stewart
X Co. were bidders tor pork, and prices
from so.05 to $lol7}l. 1t was said
that the buying was for Hutchinson,
and the crowd wanted to know whether "Old
Hutch' was going again to advar g the
price of the product when the packers wanted
cheap hogs 1t is now claimed that hoGs
are cheap oulh to make manufacturing
very profitable. The provision pit is, how
ever, dcmoral2ed. The packers are taking
no part in speculation. and until they do the
outsiders are in peril. Charles Wright sold
1900 barrels this morning, but Stewart took
it all.
2:30 p. m.-On the afternoon board trading
was very duh and values were steady and
practically unchanged for all articles. Wheat
was dull but steady at 73iIc for November,
74c for December, S01sc for May. Corn was
steady at 35l4c for November 3514Cd36c for
December 4094c for May. Oats were steady
at 25Iac for November 26l4c for December
Pork was dull but steady at $3.50 FOR No
Vcmber, $3.50 for December, S10.05 for Jan
uary. Lard, $5.02l2 for November, $500 fol
December.
9:45 p. m.-Puts on December wheat. 137Sc
calls, 14isc; puts on May corn, 4O%@405sc
calls, 4Os4@io}Sc