Omaha daily bee., 1889-10-21
The SPECULATIVE MARKETS
Wheat Slips Down a Notch But
Rules Very Steady.
CORN AGAIN VERY oEsPoNDENT
oats Continues on the Downhill
Course-No New Developments
In Provisions-A Brisk De-
mand For Heavy Hogs.
CHICAGO PRODUCE MARKETS.

CHICAGO PRODUCE MARKETS.
CHICAGO, Oci. 19.--TSpecial Telegram to
THE BEE. Wheat slipped down notch
to-day, but was very steady not to say firm
at the decline, with unusually heavy buying
from all quarters The volume of transac-
tions in futures was away above the av.
erage. In Offices yesterday afternoon De-
cember wheat sold as high rs slKc. This
morning II opened weak at Sl9sc, with May
quoted at sac. December sold down TO Sic
and May to $3.50. An avalanche of wheat
came out, put stone wall was struck at Sic
and S4s4c for December and May respect
lively. The demand for property ut these
figures was limitless, apparently. An i'm
mense business was done at the
inside and tho 'splitn above, but not
so per cent of the buying orders
could be filed. The shorts covered freely,
but commission houses seemed to have in
Vulnerable orders. 1t cannot be truthfully
said, therefore, that the market derived its
support from the shorts altogether. There
was clearly renewed investment buying by
people who consider 31S6e4c decline from
the top as break enough. The market during
the greater part of the day ruled steady
around S1ls0Sl1(c for December and Sic for
May. The close was 1915 for October, size
for December and S3Js0pS4c for May, or Nc
lower than yesterday. News to-day was
largely of statistical nature Bradstreet's
reports clearanccs from both coasts
in wheat and -four for the week
of 275sO0O bushels, against 2,33s, 600
bushels for the corresponding period last
year. The New York produce exchange
statisticiun figures that exports from both
coasts from september l to October IL
m IN laInal halls, ,,,,,t N
bushels for the corresponding six weeks last
year. Exports for last week include 61S,000
bushels of wheat, 220, 900 barrels of -four and
1.1OO, 600 bushels of corn. Wheat and -four
combined to represent ], GOO, 200 bushels. No
new export business was reported and cables
ranged from weak to steady, no special
change in prices being mentioned. In the
northwest indications point to a moderate
falling off in the movement. Dakota and
Minnesota elevator systems report letting
up in farmers deliveries and good
authorities were that Minneapolis and Duluth
receipts for the past week will not be exceed
ed on the years crop. An increase in stocks
at these two points amounting to 500 GOO bush
els is expected and the bears will be disap-
pointed If there should not be 1000 600 in.
crease IN the visible supply next Monday.
They have their minds set on that figure.
The drouth IN the Ohio valley continues. 1t
Is fine weather for curing corn, but farmers
complain that late planted wheat is not show
ing up we'll This feature may loom into
pOSluiOu VI nTSG importance II ram does not
come soon. The bulls feel sense of in
creased confidence since they witnessed big
buying to-day in the face of big selling
by foreign houses and bearish news
from the old world and the northwest. There
is free movement of wheat from the west
to the east. and the quality OF western re-
ceipts is improving
The corn market was once more in the
slough OF despond, in which condition all de-
partments of business participated The re-
ceipts were ten cars less than had been cal
culated on and for Monday 1876 cars were the
estimated number which would be inspected
and this takes account of what may be
passed upon by the inspectors on Sunday.
Clearances from Atlantic ports were heavier
than for some time and the shipments from
this port were liberal, but regular shippers
claim that there is no margin
at present between this and east
of lower grades and high mixed yellow in
the cash market, which have recently been
the only kinds hanuied by shippers appeared
to confirm the sincerity Of the above state
ment. Near deliveries opened at decline of
about sc under the closing figures of the day
before, but some of the recent sellers were
buyers at the decline, and apart from the de-
mand from this source there was no support
to the market. Closing prices show slight
advance upon those OF the day before, No
vember closing at 30%s(0309<c and May at
1890. Vessels were chartered for 16S0OO
bushels.
u.
with prices receding 159llc from yesterdays
latest quotations,
Receipts were liberal and the estimate for
Monday really large. The weakness else.
where perhaps eXerted an Inairect influence
and fair quantities of long oats were again
on sale, with few friends of the buying side
present. May sold off to 2l3k0Q2I1Sc, and
December at one time touched Isle, with
this month at 1sl{c. Car lots Of No. regu-
lar sold &c lower at lSc.
There were no new developments in the
provision market, the UNDERGONE being
steady and firm throughout. The volume of
business transacted was not as large as yes
terday and fluctuations were within narrow
bounds. The wheat pit was the center of
speculative interest to-day. Hutchinson
was the largest seller of January pork by
long odos, while the shorts in October lard
showed a disposition to cover. The lard
market was relatively irmer than the pork
market. Ia fact, the impression generally
prevails that packers have sold about all of
the January product they care to put
out until the October pork muddle
is settled. Receipts of hogs
continue liberal for the season. Taking
1900 as to-day's estimated arrivals, the
total for the week is l32, 400 head, with l35,-
600 expected next week. Charley Wright
the remainder Of this month and over
million for next month. There were no new
features in October pork. 1t sold sparingly
at S1O.95@llOO, the same as yesterday.
January pork sold at 80 47I9619 so and closed
at S9.4116, or 215c lower for the day. Futures
of lard made net gain OF 216(0l0c while
October ribs closed nc and more deferred
deliveries 215c lower.