Omaha daily bee., 1889-09-18
THE SPECULATIVE MARKETS.
Hutchinson the Largest Buyer in
the Wheat Pit.
TONE OF OLD WORLD Apvces.
Active Speculation Confined TO De-
cember--Corn Dealers Still Harp
ing on tros,s--A Slight Ad-
vance in Oats.
CHICAGO PRODUCE MARKETS.

CHICAGO. Sept. 17.-TSpecial Telegram
20 THE BEE. .l-Wheat was firm and some
what higher to-day. Indeed for most Of the
time the market was strong The strength
that was developed was largely due to local
causes. Out of 3l5 cars Of winter wheat re-
ceived at this point only eight graded No. 2.
and out of fifty-seven cars OF spring
wheat only four passed into the contract
grade. The total amount OF poor grading OF
non-arrlVals discourages short selling and
imparts courage TO The bulls. Hutchinson
was the largest buyer but there were also
good orders in the hands of many commits
sion men and brokers, and the support ac-
corded the market was general. Storms in
the northwest have affected the movement in
that quarter. AT the seme time the inillers
in Minneapolis aud st. Louis were quoted as
advising their Chicago correspondents
that the demand for -four had
fallen off to such an extent as to threaten a
curtailment in the milling production. The
-four trade was reported dull at other places
as well, and the bears seized upon this point
as one of great Importance emphasized by
the diminished foreign inquiry for cash
wheat and the weak tone of old world ad-
vices generally. The local inquiry for cash
wheat was small. but the end of the deal is
looked upon as dull and featureless. Active
speculation is still largely confined to DE.
cember, though there is considerable trading
in September, May and year. December
opened AZ 7S11c, sold up to 7S9sc, off to rs &c,
up to 7Ss4c, down again to 1890, rallied TO
1884, reacted again to 7S9s1;SS4c, ascended
the scale to 19c, went once more to 1874 and
closed there, or 1sc better than yesterday
September opened at i64c, ranged 764@
7699c and closed at 1880 May opened at So &C.
ranged SIS @s21dc and closed at S29sc. Spec
ulation wts inclined to be listless and opera
tors seemed indisposed to engage in new
ventures on a broad scale
The action to-day of traders In corn re-
vealed the fact that they are still susceptible
to the possibility of some damage resulting
to the crop from frosts, which are continuing
to hang around. There was an active trad
ing at the opening at an improvement Of
about 1lc on the previous days closing price
and a further advance of from Ic to ssc
took place before the offerings became heavy
enough to check the advance. When May
had reached "a &c there were any quantity of
sales, and from that point n reaction took
place which carried the price back to 33s4c,
and October, which had in the meantime
reached 3294c, was forced back to 32a6c, some
animated trading accompanying the reduc-
tion in price.
Oats we're quiet but stronger, with 16(01c
advance scored. Receipts were below the
estimate and the advance in corn started
some operators to buying who were sellers
24Mc touched, and fair demand later at 16c
below that, while October sold &c better at
192c. The Withdrawals for early shipment
were liberal. though less than the preceding
day. A few cars of No 2 to &c in store sold
at 194c, and cash trading was chiefly by
sample.
In provisions the days business was quite
moderate. General speculation was under
an average, and aside from revival of a
little interest in October there was nothing
unusual. In October pork there was more
doing than of late. The Anglo. .Ameri-
can Packing company were cred
tied with purchasing about 5000
barrels, and 1t was said a number of small
shorts covered their trades, making the
transaction aggregate several thousand bar
rels. Prices for the same were irregular,
fuctuating between $ll.l0@1l.50, ana clos.
ing at $ll. .22149, or only 21Sc higher than yes.
terday. In other lines OF produce the changes
witnessed rather favored the bear side
Closings showed net decline of 1880 on
November pork, &c on September and
January lard and January short ribs, &c on
October short ribs and l5c on January pork
October lard was Quotably unchanged