Omaha daily bee., 1889-10-04
The SPECULATIVE MARKETS,
Wheat Rather Dull and Quiet and
Values Hold Steady.
CORN WEAK ON NEAR DELIVERIES.
No Uunusual Stir in Provision Cir
cfcs, Interest IN the October Pork
Deal Having Subsided some
Quotations.
CHICAGO PRODUCE MARKETS.

CHICAGO, Oct. 3.--TSpecal Telegram to
THE BEE. Tho wheat market was rather
dull ard quiet to-day. Values were held
with degree of steadlness in the face of de-
cided local bearish sentiment and in the alb
sence OF distnctivelv bulish news. Some
private cables quoted the English and conti-
mental markets as firm and inclined up on
Secreased Indian and Russian shipments.
I'he Nest that could be said of a majority Of
the ,divate cables was that the foreign mar
kets were quoted as being inactive. This
sort Of Information may be construed to suit
the taste of those receiving IL. The amount
on passage is about s,00000) bushels less
than last year, but the bears have no Diff
Guilty in making themselves believe that this
is a point in their favor, on the theory that
1t is smaller than usual only because the i'm.
porting countries do not need so much wheat
and will not stock up at seller prices. At
majority of the winter wheat points the re-
ceipts arc quite moderate, but an increased
movement is predicted by receivers, and in
the northwest the forward movement is
heavy and likely to continue so Export
clearances are small, though one boat load of
No 2 Chicago was sold in New York for
shipment to-day, the first niDble for some
days. Montreal, however, reports a good
foreign inquiry for hard wheat and steady
markets.. Taking tho principal home mar
kets as whole, it is seen that the receipts
are largely in excess Of shipments, a circum-
stance clearly Indicative of large increase
IN the visible supply as result of this weeks
movement. A light foreign and
home shipping demand and subsidence
Of popular speculative inquiry, the latter
possibly only temporary, however, form bear
arguments these days. The local market was
narrow to-day though fluctuations were at
times sharp. December opened at S23sc, ad.
vanced urder the stimulus of good local
buying to S2e4c and worked down to S2asc on
the Unloading Of moderate lines. The mar
ket then rallied to S2Hc and worked down
once more to slKc. Quite battle was
fought at S21S@S2l4c with the advantage
first ON one side ana then on the 9th er. The
bears seemed bound to pull the price under
SIC, but the market was strongly supported
by Hutchinson, George Smith, Charles
Smith, Mitchell, Lindblom and others. The
general crowd was marshalled on the other
side. he last price quoted was SIC, or
shud, lower than yesterday. May
opened at SSllMS53sc, advanced TO
$3.50. stayed around S5%c a long
thine, but finally worked off to cassie.
G2od buying sent the price back to S53s@
S51Sc. but later trading was characterized by
weakness and the market closed at S414Qo
s4Tsc. Year ranged from SIS near the
opening 5as down to so2sc and closed closed
CoIBts liuuthpOtlS WIS iuOtCu
as weak at the close. with sales of carlots 1c
under yesterday.
The tone of the corn market was weak on
near deliveries and from steady to firm for
we're they promising to be more than mod
weather was clear and favor
able to the early curing of the crop. There
was report OF proposed reduction on
grain rates by the Alton road to l5c from
Kansas City, which would probably tend to
increase the receipts at this point, and this,
whether true or false, had for time
depressing influence and encouraged selling
Shipments hence were heavy and were
liberal also from Atlantic ports and the
demand for cash offerings was good. There
was IA drive made at November delivery by a
prominent house, but the extreme weakness
was not of long duration. When May had
gotten down to 335sc there were good
buying orders to fill, which caused 1t to
react slightly Trading was only moderate
IN extent and speculative activity appeared
10 hNye turned into other channels. The
closing figure for October and November
was from 4 TO &c lower than yesterday
and May was likewise so &C lower
Oats were dull and while nearly the end
of the market shows no change in prices, the
depression in corn and wheat was reflected
in active deliveries of oats. May opened at
2s4@22}sc ana slowly yielded, closing at
222sW22S4c c. he drain is slight, but, conSid-
ering the low price, it has been likened to
tie removal of an inch from the end OF
mans nose.
In provision circles there was no unusual
stir. The interest in the October pork deal
subslded considerably, ana traders gave the
general market more attention than on any
day since the week opened. The manipua-
tors of pork have apparently concluded to
accept the situation. Being defeated in the
injunction proceedings in court and also IN
the test case presented to the directors of
the board regarding the legality of the de-
livery of newly made pork, they found prob
ably that they had no other alternative.
few lots of new pork were rendered this
morning to clique houses, received ana paid
.or The deal is maintained, but from now
on ]. will only attract attention from
the settling of trades. October pork sold
- SO 5OtGl0.55 IL opened at Sl0.i5
y and closed at $40 20, or SOC under Yesterday.
The large hog arrivals here and at other
points weakened the general market Prices
All around averaged lower around the open
ing, but there was no great anxiety TO sell
and the feeling grew strong as business pro-
gressed. The Closings, in fact, showed a net
advance for the day of &c on October short
Ibis and 2l5c on October and January lard.
November lard and January pork and short
ribs were unchanged.
.r CHICAGO LIVE > rOck.