Omaha daily bee., 1889-09-19
THE SPECULATIVE MARKETS.
Activity and Strength Characterize
the Wheat Dealings.
IMPROVEMENT OF FOREIGN TONE
New York n Heavy Buyer-Turkish
Wheat Not in Demand-An Ad-
vance in Corn-Oats Quiet
but stronger.
CHICAGO PRODUCE MARKETS.

10 Tue BEE. .l-Activity and strength were
the distinguishing characteristics of the
wheat market to-day. Gables brought very
few buying orders, but they reflected a radi-
cal Improvement in the tone of the foreign
markets. New York felt this change in the
temper OF foreigners quicker than Chicago,
and by long odds the best buying of the day
was for the New York account. Local shorts
followed the example of their eastern brcth.
rem and bought freely. There was also good
buying for long account, the majority of the
commission houses reporting considerable
scattering business of that order. Receipts
at western points are not quite up to expec-
tations, and the northwest advices are that
receipts at Minneapolis and Duluth will be
light for the remainder of the week. AT win
ter wheat points arrivals include quite an
amount of Turkish wheat for which the mill
ing demand is not at all urgent The local
sentiment which has been decidedly bear
ish lately, seems to be undergoing change,
and IA stronger friendship for wheat was
expressed to-day than has been heard for a
long time No new reasons were advanced
10 explain this feeling, but Of its existence
there can be no doubt The bulls refuse to
believe that the crop of 1889 is to be pressed
on the market of the world at cost, and the
bears have thus far been unable to point to
any great success in their endeavors to de-
press values. December wheat has hung
around 7Sc and zoe most Of the time since
the beginning of the crop year, and with an
absence of general speculation and the
knowledge that big crop had peen raised
and saved to assist them, the bears have
been unable to gain any special advantage
The bulls argue that any increase In specu-
lative interest in the near future is reasona-
bly, certain to result in an Improvement in
prices. At the same time it is observed
with some uneasiness that wheat and -four
do not go out fast enough to keep ur the av-
erage Of 100000 0.OO0(0 IL, ,00O, 600 bushels
per month, which can probably be
spared out Of the crop Opening
ing prices the highest. December opened at
roc, ranged 79@799sc up to about IL: 80
o'clock, then moved up peg, and until
shortly before the close went backward and
forward between 79l4c and T911c. Toward
the last the market took on renewed firm
ness and closed at 1890, September opened
at nc, ranged at 11@f714c during the first
half of the session, advanced later in line
with December, and closed at 7711c. May
opened at $3.50, crept up to S3c, reached to
$500, advanced subsequently to S3l4c, and
closed there. AS compared with yesterday s
closing prices this shows gain of &c. Dur
ing later rating the fact developed that
St Louis had been large buyer of all
futures in this market The shipping de
maud for wheat here seemed TO be most
urgent for No. B.
The corn market opened with fair
amount of activity and some strength con-.
sdering the frost of the night before, which
was reported as having done considerable
damage to late corn. The receipts were
likewise smaller than the previous
days estimates, and were promls-
ing to be again light tomorrow,
the indications favoring 5S3 cars as to-mor-
rows receipt. A prominent operator who
has been buyer for some time past unload
ed a considerable portion of his September
corn at the advance which took place to-day.
The demand appeared to come mainly from
the shorts and trading was chiefly among
local spectators. Tue foreign market was
quoted frmer and higher and the shipping
demand here was good at an advance equiva-
lent to that in the speculative morket. Sep
.tember opened at 3214c, advanced to 33c and
closed at $3.50 October was at discount
of from sc to &c under September for some
bid.
Oats were quiet but stronger, especially in
near futures. The receipts were only mod
crate and an early tirmness developed in
sympathy with other markets. There were
present few buying orders for September at
the market on account of the shorts and,
with few sellers, prices were eventually bid
up &c to 1870 with light trading there. Oc-
proved slightly. Bids on No. 2 regular were
advanced to 1890 with elevators evincnr a
disposition to hold the oats stored therein
until navigation closes
The provision trade was provokiugly slow,
even the little interest developed yesterday
IN October pork in great measure dsap-
peared and the market was practically de-
void of feature. Speculative orders of all
kinds were limited and with local operators
u decided disposition was shown to branch
out. The attendance in the pit was under an
average and from the opening to the adjourn
ment there was no unusual stir; closings.
however, showed but limited changes during
the day in prices. Tine only actual advance
made was 219c in January lard. Short ribs
for September declined 213c, lard for the
same month 21Sc, pork for October l21ac and
pork for November sc. October and January
short ribs and January pork were unchanged
October pork sold at Sl1 00@lll0 and closed
at Sll.10. The closing for September lard
stood at S59095.9213 for September shor,
ribs at Is. 05 for October, lard at s. S116(e5. 90
and for October short ribs at S2laQQi .S5
The few new future trades made were con-
fined to January, which sold at $9011S(99. Il
for pork, s57716 for lard, and S4.621G@ d;
for short ribs. Short ribs and lard for ths
same month rested at the prices realized anC
pork at s9.l0@9121S. Cash buyers mad,
only moderate purchases, paying about thu
previous prices.
J,IVE STnf-L