Omaha daily bee., 1889-11-02
THE SPECULATIVE MARKETS
Wheat Ruled by Many Fluctuations
and Very Unreliable.
CORN ONLY FIRM AT OPENING.
Only a Moderate Volume of Busin ss
Transacted in the Provision Pit
Cattle Dull - Hogs
Rather Active.
CHICAGO PRODUCE MARKETS..

CHICAGO, Nov.1.--TSpecial Telegram to THE
Bee l-To.day's wheat market was many
sided and unreliable. l. had fits OF strength,
followed by periods Of weakness, which car
ried prices over the whole gamut OF the days
range more than once, so that when the bulls
were rejoicing in IT'S strength it would incon-
tinently turn and take strong sides with their
opponents. The early influence Of no wheat
being delivered out to-day on November
contracts little 1000 bushcl warehouse
receipt being unworthy OF serious notice
was to give firmness to the irst transactions,
but the lack of kbull news on the black
boards, leaving out Liverpool cabegram,
was not encouraging TO any pronounced
strength. The feature of the day was tho
reported buying of fifteen boat loads at New
York for export to Great Britain and 2O,OOO
bushels at Baltimore on Liverpool account,
The influence of this piece of news
was seen IN the advance of December
TO S09ic from around SO4c, where
1t had been playing for about an hour. On
the way up heavy buying on account OF some
prominent shorts kept the fizz a-going, aud 1T
was not till near the close that the efferves-
cence subsidized to any great extent. 1t be-
came apparent toward the end that wheat
bought on the early advance Except so much
was all for sale around s015c, and being in
the hands of local talent which, without
outside support, quickly dumps ITS load, get
ting from under was the principal feature of
the last ten minutes of trading December
wheat opened at S014c, sold down to SO1sc
early, then advanced and played for some
time around SO140SO9Sc. A further advance
to S0sa took place. which was the high point
for the day, and the subsequent point of con-
tention was around S0l5c, with q final break
to S01sc, at which price Did the market closed.
Continued wet weather and the fact
that no corn was delivered out on
November contracts during the hour allowed
for the transaction of business, gave the
market for that cereal firm opening The
good demand for cash offerings also
tended to cause uneasiness to the shorts,
whose purchases more than buying for long
account has been factor in the recent ad-
vance. The firm opening did not hold very
long, offerings becoming freer, and recent
purchasers took advantage of the opening
strength to unload. The foreign markets
were firm, exports from the Atlantic coast
liberal, and the eastern movement from
this point was free, as has been the case
during the entire season. The closing prices
were 3315c for November, beng 140@asc lower
than on yesterday, bat December closed ut
11a,which is a decline of &c, ana May lost
A@36c.
The late tone of strength that pervaded
tho oats market was absent to-day, with
notable tendency to heaviness the rule, ow-
ing to a lack of support. Some recent buy
ers turned sellers even though the receipts
continued small, and trading was chiefly in
May at 2235 0122l5c early, down to 2lJsc, or
decline OF 1s@4c from yesterdays clos;ngs
Deliveries on November contracts were not
important, with this month offered at 19c
Withdrawals for shipment were unusually
large, aggregating 22o, 400 bushels. No. 3
regular was l0c early, and cash sales were
chiefly by sample
Just moderate volume of business was
transacted in the various lines of provisions
to-day and fluctuations in speculative values
were less violent. The opening figures were
slightly above yesterdays closing range on
the entire list and in carly dealings con-
siderable strength was developed Sub
seuuently an easier feeling prevailed but
there was not enough bear pressure to SER
iously disturb valves. There were no de
liveries on November contracts and the
clique did nothing to enlighten the crowd in
the least as to their intentions. About all that
the clique brokers were engaged in openly
was buying November and selling year pork.
On the morning call Robert Warren sold
considerable pork and during the regular
session Hutchinson was a fair buyer of Janu-
ary at $925. The extreme range paid for
that future was 50. 22lS 80 and at the close
1926 was the market, being sc higher for the
day. There was fair miscellaneous trade
in this article, but it was almost entirely
local, there beng an appalling degree OF
dullness In the outside order trade. Lard
also attracted n fair amount OF attention be-
tween local professionals, while RIBS ruled
quiet and without feature. Both lard and
rib futures closed substantially the same as
on the day before. IN November pork there
was shrinkage of 779c and in year pork
nf