Omaha daily bee., 1889-10-01
The SPECULATIVE MARKETS.
Increase In the Visible Supply
Causes Wheat to Decline.
CORN WEAK AND DEPRESSED.
A Welcome Loosenine Up Takes Place
I'm the oat Deal-Hog Business
Brisk With Saturdays
Prices Prevailing.
CHICAGO PRODUCE MARKETS.

CHICAGO PRODUCE MARKETS.
CHICAGO, Sep. 9O.--[Special Telegram to
THB BEE, l-December wheat sold down
from S2Z TO SIC this morning because there
was going to be an increase of over 1000, 600
bushels in the visible supply. Minneapolis
helped the thing along by numerous dis
patches relating TO a big movement of wheat,
present and prospective. A lot of little fell
lows went short on the theory that the mar
ket was gong TO pot. On the last 1lc decline
there was an absorption Of property pn n
huge scale and the market advanced with
startling vigor. Long before the visible
supply figures were posted it became evident
from the details at hand that there was dis
appointment in store for the believers In
a big increase. New York increased about
one hundred thousand bushels, but Mime
apolis only increased l43, 0JJ bushels and Du.
luth also showed Il decrease Of 81, 900 bushels.
Chicago showed q small decrease
and 1t was plain to be seen that the large
quantity Of wheat that was naturally eX-
pected to appear in the visible had been nys-
terionsly swallowed up. The footings made
the total increase only $50, 900 bushels. When
the final returns were posted December was
selling around S2Ec haTing laboriously re.
covered Nc of the previous decline. The
market advanced sharply under the spur of
the covering" by shorts and the receipt of
stronger French cables based on disappoint-
ing harvester returns In western Europe.
The market kept right on going up until De-
cember got to S3asc. II reacted to S30lS3 &C,
but the tore was strong and property that
was kicking about at S2@S3lsc was in active
request around S314c during the latter end of
the session. Among the bears keen
disappointment was felt because
the bulls had not stampedel on
the down turn from S434c to SIC, but some
of the sturdest and shrewdest among them
accepted this as evidence that the strong
holders were keeping large lines Off the mar
Ket and increasing their holdings on the
breaks. The bars feel that their position
Is dangerous while stocks continue so light
In the west, ana the bulls feel tnat no seri-
GUS decline is likely to occur so long as the
existing st ate of affairs with regard to cash
wheat continues. When stocks get for.
mdab'e they may change their views. Dur
ing the last hour there was large trade in
futures. The last quotation for Decem-
ber was S31sc. May wheat opened at S51<c,
sold from S5s6c down to S41I@S43sc early in
the day, and up to S6c in the subsequent ad-
vance, closing at S534c. October ranged ut
s0l4@S1}6c, closing at Sl9sc. The net i'm
provement for the day was &c in December,
In the aggregate large bust
ness in futures was done, though
for an hour or more right in the middle of
the session operations were on u restricted
scale. There was life enough in the last
hour, however. One of the late items of
news was contained in the announcement
that Linn ana others had bought 125 cars of
No. northern IN Minneapolis for shipping to
Chicago. Late United Kingdom cables were
weak and lower, and brought selling orders.
no lrntt tlan nlF md oal
especially on near deliveries, the weakest ON
the list being the one which expires to-day.
Ihe visible supply, showing only 2T1,UOO
boushcls Increase, in measure steadied the
market, and IL was aided likewise by the
frmness of wheat, but its reclprocative pow
ers were weak, and an undertone of heavi-
ness was observable throughout. There was
not much doing except in the way of chang
ing October and November into December
and May, and the latter monthwas remarkably
steady within range Of sc. Closing prices
were: October 31Is Go3l1 14c, November 81 u
93l]1c. December 3l3s@3l13c, and May
33A933Mc.
There was welcome loosening up of the
oat deal to-day. Price alterations were
small, but considerable business was done in
all deliveries. Near months were particu-
larly firm aud commanded shade better
prices. In May Hess started in to buy at
229sc and took on good sized ''jag" at 2294c.
Hutchinson kindly handed him his card and
told him to put down all he wanted to sell at
22&c. Councilman was free seller 4 he
closIngs are about the same as Saturday.
1890 for cash and October and 22S1c for May.
In the provision pit interest was divided
between trade and gossip concerning
the October pork deal. October
pork opened at Saturdays price
-$ll25-but before business fairly
started report was circulated that houses
short to it were enioining from filling their
contracts with October-made property. 1t
was SAID that an application had been made
to Judge Tulev for an injunction and that
the same would be issued during the day.
though there was no confirmation while the
session lasted of the story that the clique had
applied for an injunction or had taken steps
to do so, the market was affected materially.
Some of the weak. kneed shorts were fright
encd into covering, and under their buying,
supplemented by light offerings October
pork was worked up to $ll.45. 1t sold be-
tween the opening and adjournment at 81 20
@1l45 and closed at Sll45, or 2Oc
higher than last weeks last price.
In the general trade there's was no decided
activity. Large receipts of hogs made the
opening heavy, but the weakness developed
was short-ived. Advices from the stock
yards were mere satisfactory as regards the
demand and ruling prices than were ex-
pected, and the product promptly changed
front The market became, in fact, quite
strong, and price fluctuations were kept
within a small range. Still the closings
showed but little change from Satu rday's
quotations September short ribs were ad
vanced loo, November and January RIBS Sc
and November pork 21Sc October lard and
ribs and January ribs declined 2llc. Other
deliveries traded in were UNCHANGED.