Omaha daily bee., 1889-10-15
TIE SPECULATIVE MARKETS
Wheat Rules Dull But Very Steady
Taken as a Whole.
NEWS OLA CONFLICTING NATURE
Corn Firm ana Oats Quiet-The Week
Opens Up without Much Change
ia Provisions Cattle Fairly
Active--Quotations.
CHICAGO PRODUCE MARKETS.

CHICAGO, OcS. 14.--ISpecial Telegram To
THE BEE 1.-The wheat market was dull and
very steady to-day, viewed as whole.
December wheat ranged at S21I@s234c,
opening at s2JSc and closing at S25Sc. May
was the weaker Of the two deliveries, open
ing at s51Ec, ranging from s55sc down to
S5bc. Tcacting and closing at S5a501S515c.
New was of an unusually conflicting char.
acter, and operators failed to detect a settled
drift in any direction. For instance, the
receipts at Duluth and Minneapolis for thu
day footed up to l, 4S5 carG, of which Coz cars
were at the former and S33 at tho latter AT
the same time IL was announced on the au-
thorty of the Minneapolis market record
that farmers deliveries in southern Mime
sofa and South Dakota had fallen Off
heavily, and that country ele.
vators, in spite of the hugencss
OF the movement, held only 100000 or
100000 bushels against the usual average
OF 20, 000, 900 bushels at this time last year.
Again the visible supply showed an increase
of 100000 bushels exclusive of n large
amount of wheat known to have gone into
private warehouses; yet the quantity going
into private and public warehouses does not
begin to account for all the wheat that has
disappeared from public view after having
left first hands. Arrivals at primary mar
kets since July are about up to the average
of recent years, but arrivals at eastern points
are many millions of bushels below the aver
age, and the visible IS only 2O,00O,-
900 bushels, q against 32,OO0,000 bush
els last year, last years total
in turn being below the two or three years
last proceeding. "Where has the wheat
gone tol' is the absorbing question that
I1Vy 1nah hNlll ll1
trade is settling down to the conclusion that
wheat has gone into consumption A lead
ing commission merchant figures that the
exceptional barrenness OF graneries of the
current year was equivalent to a shortage of
20 900 bushels; IN other words, that the
country must absorb 50,0O0,00 bushels be.
fore supplies can get to the starting point Of
ordinary years. II has become recognized
fact that the country was extraordinarily
hare Of wheat July l of this year, barer
1t Is likely to be in many years to
come Thcorizing from that basis,
it is not so difficult to account for the
failure of wheat receipts to show up in the
visible at this stage. IL is this condition of
things that makes the friends of wheat so
full of confidence in the face of the bearish
situation and on questionably Dearish gen
eral speculative sentiment. To-day the for
eign markets were steady, but exporters re-
ported no buying orders, yet 1t Is noted that
the export clearances of wheat alone
amounted to 10000 bushels-another con-
Sradiction. After the visible supply came
in to-day the market ruled firm throughout,
with increased activity. December ad-
vanced to S22ic and May to 1890. Reaiz-
ing by scalpers caused some reaction
toward the close, however, and, as before
mentioned, December left off at S25Sc
and May at S59s@S519c. A dispute between
New York and Chicago as to the visible
footings gave the scalpers Roadway for the
movement Both boards maintain the cor
rectness of their figures, New York being
800, 900 bushels under Chicago. AS compared
with Saturday, prices show fractional inn
provement.
The corn market was firm, said to be on
reports of unsettled weather in the west but
the minds of spectators were probably in
fuenccd more by comparatively moderate re-
ceipts and the heavy shipments. The visible
supply statement showed stocks here to have
decreased 5ll,6S7 bushels since the
last report, and the quantity in
store here now is 1857, 1873 bushels
There was an increase in the
total stocks in sight of 945, COO bushels The
foreign market was strong and exports from
the Atlantic seaboard were heavier than the
recent average. The demand by shippers for
the cash article was good and at about &c
Improvement on Saturdays prices. Trading
was only moderate in extent and was of the
usual local character. October closed at
3l1sc, and November at 3l14c, which is an
improvement of about 14c on Saturdays
closing ngufeS, May gaming sc.
Oats were quiet on the regular market
and with an absence of any speculative or
derS Of consequence near months were eX-
treme dull, while only fair inquiry existed
for May, with few sellers, and in sympathy
with corn the general tone leaned to firm
ness, with the month named saleable ali day
at 22lSc Local stocks showed a moderate
increase over last week of some 100000
bushels and the days postngs were unusu-
ally large, with l72 out of 3S4 cars inspected
in going TO contract grades. No. regular
sold at ls3<c.
Interest in provisions opened the week
without exhibiting much change. The deal
in October pork was managed by Hutchiu-
son. u was traded in to about the extent of
1000 barrels and the prices paid for it
ranged at $40 75 a HOO Hutchinson bought
at the highest and sold at the
lowest figure. The squeezed future
closed at $40. 75, or Poe higher than on Sat
urday last. In the general trade there was
no activity, business was slow and there
werGAno developments to occasion any ex-
ctel INT. The leading feature of the days
mari was Hutchnson's sales of January
pork. They amounted to 10000 barrels. 4
prominent commission house also sold 5000
barrels of November pork at or near outside
prices. Changes in values were limited.
November pork and OCTOBER lard declined
for the day exc and October short ribs sc.
CHICAGO LIVE STOCK.