Omaha daily bee., 1889-10-22
The SPECULATIVE MARKETS
Whoat Weak and Lower and Gables
- OFF a Fractiou.
CORN DEPRESSED AND LOWER.
Oats Active and Prices Come Down
Notch--Vcry Little Interest
I'm Provisions-CattieP Prices
Higher Quotations.
CHICAGO PRODUCE MARKETS.

CHICAGO PRODUCE MARKETS.
CHICAGO, oc; 21.--TSpecial Telegram to
The BEE. Wheat was active, weak and
lower to-day. Cables were easy and off q
fraction. New York was slumpy and down
1c and more. Receipts in the northwest are
still enormous and the visible supply in
creased 2,2i2, 900 bushels, with the demand
from importing countries at the lowest point
and with New YORK only 3@ic above us, and
with supplies Gro Sding TO the front in great
masses There was little in the situation TO
encourage the bulls, and the result was free
liquidation on the declining scale of values.
The net decline for thu day was 9(c for De-
cem0er, aud 80 for May. New York had a
sharp break early in the day, consequent
npon the selling out OF concentrated hold
ings and the weakness that was produced
here by the break was further intensi-
fed by the report that the estimated
receipts at Minneapolis and Duluth would
loot up TO nearly 1000 cars-1, ,0S6 in Mime
apolis and the rest in Duluth rho weak
ness In the cast and the mountainous re-
ceipts in the west break the hearts of the
longs and the back of the market 1t was
day of weakness throughout. Local receipts
are on the increase, the arrivals for to-day
being 326 cars. The receipts at all tho prin-
cipal points east and west footed up l,01l 900
bushels, and the shipments 800, 900 bushels,
OF which only 060, 700 bushels went
Cut from the seabord. rho points of great
est Ter tst in the visible stocks were: Chi
cago, 545, 700 bushels Buffalo, 164 900 bushels ;
Duluth, 10000 bushels: Minneapolis, $780,
900 bushels, and New York, 495 bushels.
The local speculative sentiment was bearish
from the, start to the finish, but there
was nevertheless manifest disposition on
nj of c.s..ln 70 tthnn mi, In, hn
day. Irresponsible authority had quoted
Hutchinson as bullish for the turn, and, of
course, the tile fellows all wanted to swim
with big fish. Early buyers turned sellers
ere long and made the descent more precip-
itous than it would otherwise have peen.
december opened at Sic and May at S3Jkc
Liberal speculative purchases early stiffened
the market, december going to 81 1s0QSl14c
and May to SAC. These figures were outside,
and after they were reached there was a
steady drag. The market was pulled down
&C, or therea Jouts, December displaying the
: greatest relative weakness and stopping at
higher at S3Ilc. During the last hour values
hard,ned somewhat, ralying about &c,
but the final resting place did not in
dicate any startling degree of buoyancy,
October closing at 1850, December sOI5c and
May at s3l1(GS39sc, or about &c from the
bottom all around. The aggregate volume
Of business was large, but less so than the
nervousness and activity of the market might
have led many to expect Northwestern
\, markets. were down, of course and so were
sll western markets, but New York was the
head OF the weakness, apparently.
The corn market was depressed and about
314c lower early in the day, and until the visi-
BILE supply figures were officially given out,
showing reduction of stocks in sight Of
1,1G2,000 bushels This latter circumstance
produced a firmer feeling and caused re-
action of 1s014c from the low figures pre-
vlously prevailing About the only noticeable
faatura Of tIa 6avfa TRADING fraa
selling of May by Hutchison around 32S4c,
and he was rather readily sup
piled by, the shorts. who covered
freely at about the same figure. The cash
demand was light and prices in that depart
meat averaged about &c decline from Satur-
days ruling. There was a good deal of busi-
ness done in futures for an hour after the
opening, but trading became slack and lack
ing in spirit later October sold from 301S
@3OsSc at the opening 10 301s @30lc, but re-
covered to 1890 and closed at 301lC33OsSc,
May sold from 321s933c to 325s@3s9@c and
closed at 32sl(9321sc.
pushed down further notch or two at one
time showing l4c decline. Receipts were
large, materially exceeding the estimate.
The other cereals were weaker, holders of
long oats were free sellers and there was
little demand aside from that to cover shorts.
A large business was done in May at a
range of 2ll4@2111c, with this month going
below the sc mark and December touching
lo12Vglo%bC. NObHlUB Ol consequence
was reported as withdrawn from store, and,
while local stocks were last week decreased
about 100000 bushels, the visible supply
showed q fair increase of EOS. 1853 bushels
! Nc. 2 to go TO store sold at 17s40117Jsc, or the
lowest point yet reached, and No 3 white
for May delivery went at 1880.
u" The speculative market for provisions was
profoundly dull to day, but little interest be-
ing shown in the deal even by local profess
sionals. AS on Saturday, wheat had more
attraction for room traders than anything
else. The pork pit was practically aban-
doned, and on the morning call not trade
was made. In view of the depressing sur
than expected and lower prices for
raw materials, together with the
further break on the grain list-prlces for
the product exhibited surprising steadi-
ness. Lard was, in fact, stronger and higher
for the near deliveries, selling up to SO 80 or
7l3c above Saturdays closing figures. AT
the stock yards thore were 5000 more hogs
than expected and at the SIX principal pack
ing points the arrivals aggregated A, 000
head, against 20 600 head for the correspond
ing day last year. Live hogs were 59l0c
lower a few trades were made in October
pork at Sl0.95@ll.00 and the market closed 1t
Sll.OO, the same as Saturday January pork
sold "split" higher The bulls subsequently
eased Off to $945. Judge Gresham refused to
grant the injunction asked for in the Sawyer
Wallace pork deal this morning and the case
was dismissed. The decision had no percepti
Bile effect on the market. There was mod
crate shipping demand for both lard and
meats, hut only limited business was made
public most OF the transactions reported be-
ing on the quiet. The market closed quiet
and steady, mess pork showing net gain Of
711c in November ana 2l1c loss in January
Lard futures closed 2h@71sc higher, Octo-
ber showing the most strength Ribs for DC
FOL oil Ia iUha nd fnr Inn