Omaha daily bee., 1889-10-30
The SPECULATIVE MARKETS
Wheat Starts In Firm Enough But
Slowly Yields.
CORN EASIER AND LESS ACTIVE.
An Unsettled and Nervous Feeling
Again Prevails in Provisions
Prime Cattle scarcc-Hogs
in Active Demand.
CHICAGO PRODUCE MARKETS.

CHICAGO PRODUCE MARKETS.
CHICAGO, oc,. 29.--tSpecial Telegram to
THE BEE. Wheat started In firm enough,
apparently, with December selling at SOC
and May at $3.50. The market slowly
yielded, as much from inactivity, perhaps,
az from pressure, December going TO 1910
and May showing less depreciation. 1t was
slowly and as surely hardened, December
getting back TO SOC and May to s3JSc. These
fluctuations comprised all the changes up to
about IL o'clock. When the session was
about half through the market turned weak
and sold Off sharply to 1880 and $3.50 for
December and May. A &c rally followed
and then a break to 191sc and s31sc. Below
$3.50 there was freer selling Of long wheat
than at any time for several days
and renewed speculative selling served
TO intensity the weakness The mar
ket looked exceedingly sick, but
strong buying by Baker, Dunn and others of
similar caliber checked the downward tend
ency and caused some recovery in values.
The market toward the last was steady at
1lc or such q matter above the inside figures
realized and the closing quotations were 1Sc
for October, T9lSc for December and s319c
for May, an average net loss Of 3s013c for
the day. In the aggregate the amount OF
business In futures was quite up TO the
average, although trading was unevenly dis
tributed through the session. There was
nothing particularly significant in dealings,
80 far as could be observed. Cudahy,
Partridge aud their followings were un-
equivocally bearish, selling on hard spots
and on weak spots, up hill and down. The
general crowd, which has been
bullish for some time past, seems to
be undergoing change of heart, though
the general scalping crowd is likely to turn a
somersault In sentiment in any sc change in
prices. ii is as unstable as the wind. The char
acter Of the market news that fioated In was
not such as to excite the speculative pulse to
dangerous degree. The majority of the
private cables ranged from quiet 10 weak and
public cables presented somewhat ragged
and Jagged appearance. California was both
higher and lower, according to position.
Paris flour was quoted lower and English
country markets higher, though the explana-
tion was again offered that the higher prices
paid for English homo wheat is on account of
the Improvement in the quality of the offer.
ings, which would go to show that the ad
vance ls In q measure deceptive. The out
side markets were generally rather tirmer
than Chicago, but mono of them seemed
bedded in their stubbornness. Locally there
are no new features of interest in the mar
regular warehouses include l,473, ,463 bushels.
The corn market was easier and less &C.
tive than on the preceding day. The small
receipts gave slight stimulus to prices early
in the day, but this was succeeded hy dull
ness ana loss Of the early advance and
trade besides. The trading was of scalp.
ing character and amongst the local opera
tors values were to some extent injuriously
affected, in sympathy with the weak tone of
the wheat market. Notwithstanding that
ita fa hi
to firmness in near deliveries, there was
much desire to buy to-day. Probably the
clearer weather had some influence on the
market. The changes since yesterday are
immaterial, amounting only to &c in seller
May and 1-16c In seller November, the latter
closing at 313sc and May at 331 Il S0033llc.
The oats market was devoid of any fea-
ture of any special interest, with only
light speculative business recorded.
The market was steady and firm, with May
around 2lslc, and at one time touching
point above that Next month was saleabie in
small way at 1Sss@1s11, while October at
tracted no interest. The posted receipts
were materially below the estimate, while
the Withdrawals for shipment were unim-
portaut. Car lots Of No. to go to store sold
sparingly ut the former figure of 1S1lc. No.
white oats for future delivery were in lit
tie favor and scarcely named.
An unsettled and rather nervous feeling
again existed in the provision market to-
day. Dealings were to a considerable ex-
tent Of an evening up character.
and the volume of new busi-
ness transacted IN more deferred deliv-
cries was under the average, light, in
fact. For both pork and lard there was
strong opening. October lard made gains
over night of zoe, in "a comparatively
short time advanced SO more, or to
S6.S2, November meanwhile working up to
$6.0716d6.10 on the split. October pork
started at Sl075, or sc higher, and quickly
sold at $l0.85 Hutchinson was the largest
individual buyer of the latter, that operator
taking in all some 1000 barrels of the 1000
barrels or so that changed hands. Novem-
ber pork did not follow October on the
bulge, but took the opposite course. Initial
trades in II were ut S975, being 1Oc up, but
the unloading by longs broke the price before
noon TO $3.50 The recovery from inside fig-
ures We're slight and year weakened to 30. l713
and January to $0.42lS. Mitchell was fair
buyer Of January. The short interest in Octo-
ber lard Is OF u fine quality, but is not gen
orally believed To be extensive. After the
price was run up to $685., under urgent buy.
ing, the pressure let up and the market re-
acted sharply to $665. So far as could be
observed from surface indications, the short
interest was not concentrated ana buying at
the start was scattering. The early ADVANCE
Of 5@l0c reported In prices for hogs at the
yards did not hold, and this was not without
some bearish influence late in the session, es-
recially as the estimatedsreceipts for to-mor-
row Nvarf, r OOl head