Omaha daily bee., 1889-10-07
TIL SPECULATIVE MARKETS.
Wheat Steady at Some Improve.
ment in Values.
HeAvlnsss IN THE CORN PIT.
May the Popuiar Delivery in Trsnsac-
tions in Oats Another Dull Day
Witnessed in Provisions
General Quotations.
CHICAGO PRODUCE MARKETS.

2 Fs-hlthCO BIkoDUCE MhhhEIS.
CHICAGO, Oc, Especial Telegram TO
TuE BEE The wheat market was steady
today nt some improvement In values 1t
opened strong and higher on better cables
and the publication in the morning papers OF
P report from the United States consul at
Mayennce TO the state department repre-
senting that there Is an important shortage
In the European crops The report in ques-
ton was plainly based on the findings Of the
Vienna congress and is a six.weeks old re-
hash of the estimates given the world when
the congress was in session. Nevertheless the
attempt TO make n sensation Of the so called
news was measurably successful. Private
advices from the old world foreshadowed an
other large decrease in the amount on pas
sage and gave this as an explanation of the
frner tone of the English markets Orrs
CORRESPONDENT, however, attributes the
strength 20 the fact that there is an un-
usually heavy short interest in California
wheat In Liverpool and that the upward
tendency noticed IN prices is due to the ner-
vousness of the shorts. Possibly both the
causes mentioned have something TO do
with the improved feeling abroad. Home
news was bearish in tenor. The northwest
poured in the daily flood of bear bulletins.
These relate principally to the heavy move
ment of wheat. AS the transportation facili-
ti0s of the roads In Dakota aud MINES ota
are already overtaxed, there is no chance for
the movement to increase, and consequently
this sort of news can not get worse. 1t can
only continue in the same old strain. There
lie consolation for some in this thought.
Traders were doing more or less figuring on
the visible supply to-day. The estimates
ranged from 1880, 900 to 100000 increase.
Minneapolis and Duluth stocks are expected
TO show AN increase of 95O, 900 bushels and
New York will also increase largely, In ad
dition to the tidbits of prophecy it was stated
that Mondays receipts in Minneapolis
and Duluth will aggregate $50 cars and that
u largo overflow in this direction is soon to
set III. Bearish gossip and bearish statistics
had no effect on prices to-day. The market
ruled firm throughout. The opening range
was S25SGS315c for December and S59kc for
May. The first Official quotation in Decem-
per was S21Sc, but the market got TO S355c
before any great amount of business could
Ee done. The early morning advance culnii-
mated at S33Sc. On the up turn a very large
amount of long wheat was sold out for local
account but the market took il up like a
sponge. The price only got back to S21sc
and during the last hour the market acted
strong and values sough. higher levels.
Active business was done in the pit and u
healthy increase in the number and impor-
tance of outside orders was noticed.
BY ! O'Clock December was
up to $780, but the market did not stay there
long. The last fifteen minutes of the session
witnessed lively realizing and good general
aiding. The last price was S3li@S3ssc.
The pressure on May was heavier than on
December This delivery sold up TO S51sc
early and then off to S5liH, but on the ad-
vance IN the last hour 1t assembled the scale
to $50, easing off however, at the last and
,snlNn F,r.l
s111c, sold down TO SO5sc, but closed at Sl14c.
The last quotations are fractionally higher
than those of yesterday. No direct export
j business was done, but vessel room was en-
gagged for 1876 600 bushels, which was des-
tined for Buffalo and New York.
There was far amount of activity in
scorn, but heaviness was characteristic Of
4 the trade. The shorts were adding to their
. lines and tired holders were dropping
Z some of theirs. There was free selling OF
!, October and November, which weakened
!, the entire list of futures, many touching a
.ower point than had been previously re-
corded. AT Bic for December there was an
active demand, coming mainly from the
shorts, however. To-day's receipts We're
seventy cars less than had been estimated,
but nc influence was felt upon prices from
This fact. For Monday the receipts are ex-
pected to be 525 cars. The trade was
chiefly local, with no outside controlling
faction visible. The closing prices were Bic
for October and 339s (13313 3c for May, which
is in the first case l-l6c over and IN the
latter sc under yesterdays close
A revival in speculative interest in oats
was Witnessed to-day May was the popular
delivery and operations were conducted on n
rataer lower scale of values. The initial
price of May was 2?3s022slc. The market
worked down to 2219c, at which point large
number of orders TO buy were brought out,
and thereafter the market ruled steady
Everybody wanted oats at 22l Sc. There WAS
plenty for sale above 2219c. but not half as
much as was wanted right at that figure.
Some business was done in December and a
moderate trade in October was reported.
October closed at 49, 9i93sc.
Another duh day was passed in the pro-
vision pit. The dsinclination displayed yes
terGay TO trade was even more than con
enued These was really no desire to dc
anything. Even in October pork the trans
actions made scarcely exceeded Z, 600 barrels
The most prominent sale Was 1000 barrels
by Hutchinson to tho International Packing
company at $40 60. The days entire range
OF prices for October was Sl0,5O@lO.65 anC
the closing stood at $1,000, or 30c under yes
terday's last quotation. No Improvement II
affairs is expected until the conrt proceedings
in the injunction case are completed and the
disputed question of the delivery of new
packed porP on snort trades settled. In the
! general market the underlying feeling favors
holders. The dullness existing has so fal
failed to make the bears aggressive
and to-day the few changes made
in the price leaned to higher level. Com
pared with yesterdays closngs, lard for DC
tober sustained an advance of 71Sc, and fol
later months exc November and Jannar!
pork, and the different deliveries OF snor
ribs were quotably unchanged. Cash buyers
were conservative in making purchases
and 41lc for boxed sweet plckled shoulders
Cash lard was quoted at 2l54l115c and shor
ribs 10(9l5c above October