Omaha daily bee., 1889-10-18
The SPECULATIVE MARKETS
Wheat Again Averages Firm With
Temporary Depression.
FURTHER WEAKNESS IN CORN
Fair Amount of Interest Shown in
the Provision Pit-Cattlc BUS
mess Siow-Hogs Open
Active But Decline.
CHICAGO PRODUCE MARKETS.

CHICAGO, OcS. 11.--fSpecial Telegram TO
THE BEE Wheat again averaged tirm
though there was temporary period of de-
preston during the early part of the session.
The market was quite active at times,
though az whole il may be described as
quiet The bulls had tho call on news.
Cables were steady and New York and Bal
tlmore reports of Yesterdays clearauces
show 10000 packages OF -four shipped out.
This beats the record of a davis movement
and represents over 400, 600 bushels of wheat.
Besides this, Montreal wired that twenty
two boat loads-li6,000 bushels of hard
wheat-had been worked at that point for
Leith. Dry weather IN the Ohio valley and
Michigan also claimed share OF popular
attention. Local showers have fallen in
Missouri, but the promise of an extension of
the rain area to the territory east of the
Mississippi does not seem likely TO be fulfilled
right away 1t is as dry as ever
through Illinois, Indiana and Mich
lgan. 1t may be added also that
no fumeration of bull points or factors
would be complete without reference to that
great and ever present, albeit somewhat
"chestnutty" truth that the visible stocks of
contract wheat are very light and do not
appear to increase very rapidly, although
local inspection returns indicate some i'm
provenept in tho quality of arrivals at this
point The receipts here to-day were 2I1
cars, of which 81 graded No. @ Tho most
conspicuous bearish influence at present
writing is the enormous movement in the
northwest. II does not let up in the least.
The best posted men say it would increase
II cars could be had TO haul the stuff. The
statement is made in connection with this
matter that northwestern elevator com
panies are selling freely in this market
against their cash holdings If they are 1t
is merely following the usage of previous
years, whenever carrying charges prevail.
This has been found to be the
cheapest and best insurance obtain
aOle. December wheat opened0 at
S21Ic sold off to 50 &C and then worked up to
S2afc, subsequently advancing atrongly to
s21Sc, as the Importance of the bull news
mentioned above came to be fully under
stood. Above S211c large business was
done in futures. The market reacted under
pressure of realizing sales of long wheat and
speculative offerings to S2l3c. May opened
at s514c. sold down to S5c, advanced to S534c
and worked back TO s5asc, closing there. DC.
tober closed at SJhc. Last prices are al
most identical with those of yesterday. The
days trading failed to develop any very
striking features. The heavy weights did
not distinguish themselves by pluDges on
one side or the other. There were no gal
lery plays" and business was transacted
Wheat charters to-day were 5000 bushels,
with 65, 600 bushels additional to come into
to -morroWs report.
There was further weakening in the corn
market and lower prices than heretofore
were current for nearer deliveries. There
was no particular feature that has not al
ready been dwelt upen to account for the de.
cline. Fine weather for maturing grain still
continues and heavy receipts at an early date
from the new crop are looked forward to
with confidence. Receivers were drawing
attention to the fact that at the reduction
which has taken place in railroad rates 3Oc
here now is about as good TO the Iowa or
Kansas farmer as 3Sc or Bic would have been
u year ago. Carload receipts were about as
estimated yesterday, but 81, 100 bushels came
in by canal in addition thereto. Foreign
purchases have no influence upon values at
present. Clearances from Atlantic ports
were light but the movement from hence to
eastern consuming points continues on a
heavy scale. Closing prices show decline
of 1S@Ac from yesterdays figures. Neven-
Der closed at 301S(13lc and May at 33c
Oats were weaker, with 1o@l4c decline
established. After opening steady at 23c a
line of long May came out and the market
receded to 2l4c, later recovering a trilie.
The demand was at no time urgent and the
nearer futures were neglected, even though
offered at prices &c below yesterdays close,
with November at 1890 and January at
1870. Receipts We're liberal and with
drawals for shipment included 1875, 500 BUSH
els, chiefly No. white. No. 2 to go to store
was neglected at 1Sl3c. No. white for May
was OF one time offered at 2ic, with the re-
cent mild interest absent.
In the provision pit far interest was
shown. In speculative trading January pork
led in activity, yet in a majority of the diff
ferent lines the movement was sufficient to
hold the attention of traders. Outside or
ders were somewhat restricted and the days
future business was largely between profess
sionals. In the October pork deal there
were no new developments. The delivery
sold sparingly at l0.9O9l0,95 and closed at
$l095, or the same as yesterday. The
product generally was well supported. The
cosings showed an advance of nc IN Octo-
ber short ribs and 215c in October and Jan
uary lard, November pork and January short
ribs November lard was unchanged. Jan
uary pork declined DC and November short
ribs nominally 21sc.