Omaha daily bee., 1889-10-17
The SPECULATIVE MARKETS
Wheat Fairly Active and Steady
Within Narrow Range.
AN ABSENCE OF LIFE IN CORN
Oats Share In the General Quictude-
Provisions Prove Quite Interest,"
ing to Traders-Cattle De-
mand Fair-Hogs Lower.
CHICAGO PRODUCE MARKETS.

CHICAGO PRODUCE MARKETS.
e CHICAGO, Oc>. 16.--TSpecial Telegram to
THE BEE. THE wheat market was fairly
active and steady within narrow range,
the tendency being in the direction OF an
Improvement ia values. This was q surprise
to the majority Of the traders, who leaned
to the bear side for a variety of reasons,
among others weak and quiet cables, large
Indian and Russian shipments, advanced
ocean freight, lack of new export business
for Europe or the continent, the enormous
movement in tho northwest, and the addi-
tional faith that Chicago prices are quite as
high as those ruling at surrounding markets.
The dry weather in the winter wheat coun-
try has been one Of the influences flvoring
the bulls, reports from many sections indi-
eating serious alarm on that account. The
drouth in Missouri and Kansas seems to
have been broken, however, according to the
weather reports, but the ground is as dry as
bone throughout the greater part of the
Ohio valley up to tho present writing
There is however,. promise of rain. Other
bullish influences may bs found in the small
stocks OF contract wheat and in the active
presence Of strong friends of wheat in all
OF the speculative markets. No matter how
bicab bhc OuupVuilub VI lOHb DIOpCTJy may
be, or how heavy the speculative offerings,
the stuff is absorbed, and the market stffeus
under the load. This is one thing that at
tracts the personal notice of scalpers and
the generality of market watchers. 1t is
getting to be almost as great mystery
what becomes OF the offerings of futures as
it has been what becomes Of tho great mass
of wheat that has left farmers hands. Tho
boards cOrrpsnnnupnt madn an incransa of
about 500, 900 bushels on passage, some
what less than Beerbohm's figures Receipts
ut primary points continue to be very large,
the postlngs to day showing about $4,000
bushels arrived at western points and 937,-
422 bushels received at all points east and
west, against $685. bushels shipped, of
which $4,000 bushels left the coun-
try. Northwestern receipts were large,
Minneapolis getting 53l cars. On account
Of the blockade only 154 cars were registered
at Duluth. Elevator people in northern
Minnesota and North Dakota say that the
rush of wheat from first hands has never
been heavier than now and that the extent
of the movement is only restricted by the
capacity of the rolling stock. December
opened at SIC, advanced to S2ll@S23Sc, sold
of to Sl1sc, worked up to S21lc, hung for a
long time around S2l5@S24c, and then
during the last half hour got strong ana ad-
vanced to S21a(9S2&c, closing at S2l5c. May
opened at S5c sold off TO S41sc, up to S514c,
tloDally, but closing at s53sc. There was lit
tie trading in October, which opened at S0lfc
and closed at S0s4c. The net gain for tho
day was &c. Other domestic markets kept
along in line with Chicago.
There was the same absence of life in the
speculative branch of the corn business
which has so long distinguished it,
accompanied by the same apparent de-
off in receipts was the only feature from
which comfort could be drawn by the bulls,
but they are not sufficiently marked or long
continued to give alarm TO the shorts. The
operators last referred to stand pat on their
sales and take advantage of any rally in
price to increase their line. There was some
trading to-day and for the first time on this
crop in June and July corn, the former
selling between two prominent operators at
$3.50, and the first sale Of July was at 1890,
but later it sold down to 33l4c There was a
good inquiry for May at 33c, but November
was freely offered by a prominent Spectator
in any desired quantity. Fluctuations in price
were both slight and infreNuent and the
closing quotations are only slightly altered
from the figures at the corresponding
time of the day before. October closed at
3O34@301sc, November at 81 &c and May at
33M331sc.
Oats shared the general quietude with the
speculative market dull and easy in tone,
TRADE being chiefly in May, with
hear futures almost at stardstill. May
opened fully steady atg221Sc, but Hutchinson
later offered it at 22@22 sc, and trade was
chiefly at that aud at the inside, with De
cember going at 1910 and subsequently Of
fered ut that, No. white for May attracted
some attention, selling early at 2l1402435c,
but were eventually offered at 24ls. Re.
celpts fell materially below the estimate and
Withdrawals for shi pments were liberal
No. regular was steady at 1870.
Provision traders found the market quito
interesting. There was no great activity,
but there WAS more doing than on either of
the former days of the week and the busi-
ness transacted appeared to attract general
attention. Hutchinson, however, was the
largest individual operator He bought pork
and ribs for January delivery with freedom
His purchases, in fact are sufficient to in
duce rather free covering upon the part of
the shorts. In October pork trading was
light, ranging at Sl075G0l1.0 90 and closing at
$l095. or zoe higher tnan yesterday. The
clique was again defeated in its in
junction proceedings before the state
Judiciary. The supreme court of Illinois at
Ottawa denied the writ. In the United
States court application was made for an in
Junction. which will be considered on Mon
day. The clique has been taking matters
connected with tho market quietly of late.
The new pork offered to its representatives
in settlement of contracts has been either
refused or taken under protest, and in its
course there has been no change or new de-
velopments. In the general trade the short
interest outstanding for October is said to be
much smaller than expected. The clique
now owns about 10000 barrels of pork. In
the general trade "A stronger feeling was the
rule to-day. Based on yesterdays final
prices, the closings indicated an advance of
exc on October and November lard, October
short ribs and November pork, SC on Janu-
ary short ribs and 2Oc on January pork.
January lard was unchanged.