Omaha daily bee., 1889-11-05
THE SPECULATIVE MARKETS
Price Changes in Wheat Narrow
But Trade Active.
VERY LITTLE INTEREST IN CORN.
Quite q Heavy Business in Provis-
ions MT Lower vaiues-Hoes
Active aud Higher on
Heavy-Quotations.
CHICAGO PRODUCE MARKETS.


CHICAGO PRODUCE MARKETS.
CHICAGO, Nov. 4.--TSpecial Telegram tn
fHE BEE Price changes were within
narrow range, but there was, nevertheless,
an active trade IN wheat, and no little local
and outside interest In the market is being
shown in variety OF ways Two pieces of
news disturbed the monotony of trade to-
day. One was an increase in the visible
supply of less than so per cent OF what had
been counted on, and the other was crop
letter from Dodge, the government statsti-
clan, TO an agricultural paper published in
New York. 1t has been supposed that the
government pays him for his services but it
seems that he finds time TO write for the
press-amplfying, explaining or amending
his official statements and still further mysti-
flying the public. His latest communication
Is TO the effect that the wheat pro-
duction will be 12S bushels per
acre on about 3S,000,000 acres, or
about 4S6,000,000 measured bushels, from
which about 15000,0 900 bushels must be de-
Quoted on account of short weight. This
would bring tho crop down to the vicinity of
47l,000,000 60.pound bushels The govern
ment statistician's latest estimate is accom-
panied by the usual hedge; 1T is subject
TO revision" when more complete returns
from the threshers are in. From being
barely steady wheat got steady, then firm
and later very strong The visible supply
statement showed only l,25O, 900 bushels in
crease, when some of the guessers had put it
as high as 3,0O0OJO bushels on Saturday and
common Judgment had centered on 100000
bushels as safe maximum limit. The
Rsaao RSn,1 oOo gFeniIss chsago Ms
neapolls, 5i4, 1l5; and New York, 31S936
The amount on lake ana canal shows a de-
crease of 347, 0S4 bushels, and if mistake
should develop it would probably be found
IN that item, as daily cables would seem to
indicate that far larger quantity came on
the lakes last week than went off. The in
terror movement is still very large, and the
total receipts at all enumerated points for
the day foot up 1,134, 715 bushels, and the
total shipments $40 4S9 bushels, of which
only IL, f0S bushels figure in the exports. The
eastward movement is heavy, though, and
local freight engagements are reported to-
day for 2l3, 0OO bushels The total amount
of wheat now in sight is 25,7l2,5 57S bushels
against 33,604.0O0 bushels. Decem-
ber wheat opened in Chicago at 791lc, sold
down to 1880, up to 1890 and for long
time ranged at 1919c and 1890, finally, how
ever, hardening and going to soc, and during
the last half hour prices moved to S09sc,
where'it was at the close. May opened at
S316c, sold down to S311c, sold up to S3s{c,
DacK 10 MA C ana on the last SDurt QO TO
sac, where it closed, with November rest
ing at 7914c. The gain over Saturday
averaged 15@3sc.
The corn market was devoid of activity or
general interest Tho visible supply was
expected TO show u decrease of about as
much US on the week before besides de-
crease to the extent of 1,593,S59 bushels,
against 401 ,624 on the corresponding week a
year ago. Stocks here are less by 543,955
bushels than they were week ago and now
amount 20 1850, 092 bushels. The demand
for cash offerings continues good, but prices
eased off tritie to-day IN cash, local .specu-
iators ,uaI % were an. IN possession OF the
and nfrequent, with the tendency
for the most part downward Cold, clear
weather was the principal influence affecting
local traders. The closing prices did not
vary much from those of saturday, and
were: December 1890 and May $3.50
331lc. This Is 1Sc increase in December.
Prices on oats were somewhat unsettled,
although actual speculative business was
small and the market generally dull. The
light trading was chiefly in May which sold
of lic carly to 2lAc under lack of support,
but recovered later to 221Sc, as few buying
orders appeared, ard cash oats developed
frmness, owing to the good demand. Near
months were inactive, with Move mber at
1896 and December eventually touching
1870. No. 2 cash was nominally 1876, with
trading chiefly by sample.
There was quite heavy speculative trad.
ing In provisions to-day at u lower average
of prices all around. More business was
done than usual and mess pork LED In inter-
est throughout. Prices for hogs at the yards
were tending up and the weather condiIions
were more favorable for packing operations;
yet this did not prevent sharp break in
speculative values. The opening figures
were not far away from Saturdays closing
range, January pork selling higher at the
start under the influence of hard pounding
by Baldwin and Wright. November pork
broke from S9.25 to $3.50 before
the noon hour, and January from 1920 to
$9.05 From the inside figures the market
reacted n little, there being IA sufficient de-
mand from scattering shorts to check the
downward course. Hutchinson was u con
spicuous seller of January pork all the morn
ing, and during the last hour of the session
he bought. Some few minutes before ad-
journment an operator entered the pit and
offered November at sS95, but finding no
takers he bought 900 barrels ut SS9216@9
S.95. On the split, big trade was witnessed
In year pork, Norton anu Worthington being
the largest individual buyers, and there was
also u fair trade in May, which ruled steadier
than near futures. For year pork
prices actually hardened a little.
The general impression to-day is
that the clique are selling November
down for the purpose of getting fresh hold
AZ reduced prices. Lard and ribs attracted
fair amount OF attention, and the feeling
was weaker in b5th lines, in sympathy with
pork, though the fluctuations were not wide.
Outside orders were again as scarce as hens
teeth. The local trade in the cash product
was light, lard selling at S5.971a(a6o5 and
16-pound green hams at 1870. Some
$4,000 pounds Of partly cured short ribs
were reported on at $500. Speculative trad
ing was less animated during the last hour
of the session. The closing quotations were
SOC lower for November pork and 5(g715c of
for January and May, with year 10c higher.
In lard futures the net cecine was 211(615c,
and November RIBS closed &c lower, with
January and May unchanged.
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