Omaha daily bee., 1889-10-26
The SPECULATIVE MARKETS
Wheat Steady at Considerable I'm
provement in Prices.
MORE INTEREST SHOWN IN CORN
Oats Show No Particular Activity
The "Oiique" Still Cutting Quite
n Figure in October Pork
Cattle Slow.
CHICAGO PRODUCE MARKETS.

CHICAGO, Oct. 25.--fSpecal Telegram To
THE BEE THE wheat market was steady
at considerable improvement In prices and
with only fair business done In futures.
Cables came In weak for spot wheat and fu-
lures were represented a. displaying declin-
ing tendencies New York had news to re-
port on both sides, but the drift Of intelli-
gence from that place was bearish In its in-
fiuence. One dispatch was sent out from
there that twenty boat loads had been taken
and another named thirty boat loads as the
quantity. These reports were denied and
found few believers. 1t was stoutly main
tanned by persons usually correct that there
not only hadn't been any export business
worth mentioning, but that there was moth
ing that looked like genuine inquiry by for
eigners for wheat at anything like the prices
now ruling. At the same time IL is not true
that there is not a good trade In
flour, both for homo and foreign
account. The seaboard clearances OF
-four and wheat were equally about 1000
bushels to-day, and western millcrs have
orders ahead as a rule for all the -four they
can grind. One sale of 10000 barrels was
reported from Milwaukee to-day, and offers
accepted for 5000 barrels more. Minneap-
oils and st. Louis mills are having all they
can attend to. The receipts at primary
points arc slightly below the recent average
total, but the movement in the northwest, so
far as it can be judged from the receipts at
Minneapolis and Duluth, is not letting up to
any appreciable extent. Arrivals there
to-day footed up 40l 900 bushels, and to-mor-
rows estimate is for over 800 cars An esti-
mate of 1000 cars for Monday was afloat, but
was voted as too premature to be reliable
The receipts at Chicago amounted to 206
1t. "a
grade In spite of the heavy receipts the
ing very well. Duluth receded
&c, but at Minneapolis No. northern
was in active demand at 78@161%c. There
were two other items of news that cut some
figure perhaps. The first and most import
ant is the continuance of rams through the
southwest and gradual extension of the
rain east of the Mississippi. The second was
the report that Dodge had revised his Oc
tober estimate, making the production less
than on the 10Th. The foundation of the
latter report may probably be found in the
issuance OF a printed October report from
which somebody has been able to figure re-
suits slightly at variance with the original
bulletin. Locally the speculative market
was not particularly interesting. Hutchinson
and Lindblom were the most conspicuous
buyers and led on that side The selling was
more generally distributed than the buying,
though as conclusions show the buying side
was the most influential. December opened
HJ lSM q, advanced Dy easy anu Qulet stages
to sO1Sc, receded about noon to 1890 again,
and during the last hour recovered
the lost ground and established
little gain over the previous figures,
going to S0ssc and closing at the top. May
started in with sales at &c range. The first
Official quotation was S33sc, but there were
few sales as low as S31Sc. The market then
advanced to S3ss(GS3slc, receding to S335c,
the closing price. The feature of trading as
far as anything was developed, was the rela-
lively greater strength of May, which now
commands a premium of 35sc over December.
Inquiry for May was especially active.
There was more interest in corn than has
been usual of late and pronounced strength
in near deliveries, with May sharing in
lesser degree the general firmncss. The re-
Ceipts were thirtyone cars under the quantity
figured on yesterday, but the canal arrivals
of 1890 bushels came near filling the gap.
The out.inspection was, however, heavy,
amounting to 413616 bushels, but of this
quantity not one bushel was of straight No.
Q grade. Export clearances were liberal
and foreign markets were quoted firm, al
though the latest quotations from Liverpool
were lid lower than reported on the day be-
fore. The present moderate receipts and
prevailing rains are features which were
chiefly responsible for the firmness which
occurred, more especially in near deliveries.
A general breaking up of country roads will
further curtail the receipts and wet or damp
weather would make No. 2 corn from the
new crop scarce commodity in December
and possibly in November should those
weather conditions last well into the next
month. The short interest bought rather
freely and offerings were light November
started at Bic, or 1sc over its closing price
yesterday, and 1t advanced to 311Sc closing
at 8lsc or &c higher ~ than on the DAY be-
more to 3314c and closed at 1880, or 40
higher than on the day before May opened
at SS@s34c, advanced 1Sc up to 334c and
closed at 49, 013314c
wi n
fair business done in futures at shade
frmer prices, while cash lots were duh and
weaker than future deliveries, as gilt edge
receipts dated to-day were offered at ls(9
1s15c. The early frmness in extended de-
liveries was due chiefly to the influence ex-
erted by the strength of corn, and May sold
at 2l$sQD2lS4c, with quietude prevailing later
January sold at 1y1s9l914c. October sold at
1sc and No. oats to go to store at that fig
ure.
The clique are still under pork. That, at
least, Is the opinion held by majority OF the
provision dealers. They were buying both
October and November to-day, and although
prices for deliveries beyond October were al
lowed to ease off little during
the forenoon, October presented steady and
firm front at around sl070@l015 or about
yesterdays closing. There was scarcely a
doubt that the parties interested will carry
the deal into November. That future is sell
ing at 30@35c premium over January, and
the normal difference Is fully that much the
other way. Intrinsically November is worth
no more than year, and 1t closed to-day at a
premium OF 55c per harrel over the latter.
The packing crowd, including Swift, Ar
mour and Underwood were fair sellers of
pork, and Baldwin sold quite line of Jan
uary, supposed to be long stuff Hutchinson
was a fair buyer of all the active futures.
After sliding off 716@l21Sc IN early dealings,
the market rallied and held steady with firm
undertone until the close. Lard ruled quiet
and averaged shade stronger, there being
no features In this branch OF trade and only
nd nNn alnf ftkrn htnQ tnna f.
lures were also reported good and prices
steady. At the six leading points to-day the
arrivals were 2, 900 head larger than on the
corresponding day in 1883. Liverpool re-
ported lard dull, with prices go lower for
both spot and futures. Bacon was steady
and in fair demand. The New York market
for lard was stronger. A rather less urgent
shipping demand for the product has existed
for the past two or three days. Based on
yesterdays closing quotations for futures,
October aud November pork closed sc
higher, year l0c higher and January un
changed. Lard closed 21695c higher all
around. NOyemOar ana January ribs 1lLC