Omaha daily bee., 1889-09-20
THE SPECULATIVE MARKETS.
An Active Trade in Wheat and a
Point Gained.
FLOUR AT EXCEPTIONAL PRICES.
Strong Cables aud Light Receipts at
Western Points-A Weak Feeling
in the Corn Market Slow
Work in Provisions.
CHICAGO PRODUCE MARKETS.

CHICAGO Sept. 19.-TSpecial Telegram
10 THE BEB.l-The wheat market crept up
another point to-day with an active trade in
futures and an increased demand reported.
Cables were stronger and a revival of export
demand is cited as one of the strong reasons
for believing that the recent Improvement
will hold. Philadelphia reports eight loads
OF ungraded wheat worked for export yester-
day ana local merchants have the cheerful
news TO communicate that an increased ship
ping demand has sprung up for lower grades
in this and lower markets. Dun to-day
worked $4,000 bushels Of wheat, $4,000 bushels
of No. hard in Duluth and 10000 bushels OF
No spring here. Sales of flour are SAID to
have been made here and elsewhere to-day
at prices that could not be touched yester
day or any time in the recent past. The
details of these transactions are not given,
but everything points to the substantial ac-
curacy of the statements of an increasing in
auiry for -four. IL was only lew
brief DAYS ago that dispatches from
several milling centers were shown around
expressive of grave fears that. unless til
trade in -four should show prompt and de.
cided Improvement the larger mills would
speedily be obliged to reduce their output.
Nothing further en- that score is heard to-day
and extracts from the Northwestern Miller
quote unusual activity both in production
and consumption In the northwest. Strong
cables and light receipts at western points
were the two most important bull factors
obtruded into view to-day. Perhaps the
strong cables alone had the most TO do with
the continuation of the strength, but they
brought the attention of the trade to the
smallness OF visible stocks and the mcagre
movement. This has been palpable thing
all the time, but il took an advance in the
market to bring the facts into proper relief.
The advance having occurred, it is now re-
huGau of
cember wheat in Chicago, wheat has not
come forward and that the stock in sight is
less than one-half what it was last year at
this time, and that it is now three months
after the new winter wheat began to move
less than 1t has been at low ebb for years
prior to 1889 On the declining
markets these things are overlooked or
ignored, anyhow they produce not the
slightest impression on the rank and file of
operators. To-day everybody was bull and
the market presented few weak spots De
cember opened at T916c, sold off 1880, ad-
vanced to 79s4c, reacted to 793s 9i913 rallied
to 1890, and under the influence OF rather
heavy realizing sold down sharply to 94c.
Here solid bottom was struck and thereafter
for the last two hours of the session values
ruled firm. The market advanced to 1870
and remained around i9@s(9702+c for quite
time, then pulled up to SUc. The big fight OF
the day was at soc. The price was repeat
edly forced down 1sc and as often rallied to
s0c once or twice going to SOBc for full
three-quarters of an hour. December held
around SOC and closed at 791ac, September
opened at 771lc ranged T}1@7s4c, and
closed at 7S1ac. The range on May was
S31sc, opening at $3.50 low, $3.50 high, and
$3.50 closing September made net gain
of &c on the day and December and May &c.
Trade was larger in volume and more gem
eral in its character than it has been in
good while.
There was weaker feeling in the corn
market and lower prices. Near futures
nnfth thn has
ators selling freely of September and Octo-
ber and buying May. 1t was being urged in
the pit that at the present prices shipments
would be wrecked, as the price in many
places has gotten down where 1T was cheaper
to burn than coal September opened at
3lsIc, sold down to 321fc and closed at 327sc.
October sold as low as 3214c, but closed at
32ss(1321S, while May closed at 33834 4G33Ssc,
or ABOUT 1sc lower than 1t did yesterday.
In oats little of interest transpired, the
regular market remaining practically steady,
with light speculative business recorded.
A few sellers of cash oats and near futures
were quotaby firm at yesterdays outside
outside prices. May was quiet at 22Ss@22S4c,
with no pressure to sell. For No. regular
1910 was bid, with the trading in cash lots
chiefly by sample.
The provision traders found it slow work
to pass the day. Orders in the hands of
brokers and commission houses to be exc
cuted were unusually limited, while in the
general trade there was no development to
revive speculation. 1t was quiet from the
start and in several lines and deliveries
fluctuations were restricted to a small
range. Under the circumstances, however,
the feeling exhibited was quite strong and
prices, as o rule showed but little change
from yesterdays closings. November pork
was advanced DC and October lard and Janu-
ary pork 216c september short ribs sold
off 21<c, and other deliveries of ribs, as
well as January lard, were quotably un-
changed.