Omaha daily bee., 1889-11-03
The SPECULATIVE MARKETS.
Nothing Significantin Trading in the
WheatSPit.
CORN sUsiNess'oF FAIR VOLUME
The Usual Saturday Quietness Pre-
walls in the Provision Pit-Hogs
in Fair Demand aud
Prices steady.
CHICAGO PRODUCE MARKETS.

CHICAGO, ,Nov.2--TSpecial Telegram To THE
BEE. There was nothing significant in to-
days trading in the wheat pit. Business is
largely local or professional IN it's character,
though OF course commission houses are In
receipt of their usual daily budget of orders,
based on the country movement The mar
ket was rather dull as whole aud fluctua-
tions were confined to a narrow range. Ca
bles were not influential as n factor IN the
days traffic, looking neither one way or the
other very hard. In addition 10 yesterdays
export business, New York reported five or
SIX boat loads. Export clearipgs from At
lantic ports for tho week include 210.0O0
bushels of wheat, 26i, 900 barrels of -four and
1,50O,0 900 bushels of corn Stuff is going
out of the country steadily, though
not in large enough volume to
come up to expectations. The interior move
ment keeps up amazingly, however. Re-
ceipts at all points named in our regular
tables for the first five days of the week foot
up t. 4144, ,545 bushels, against 1851, ,53I bushels
for the corresponding period last year, and
shipments were 1,02l,9o4 bushels, against
759, ,4t6 bushels. Another big increase in the
visible supply is expected somewhere around
100000 or ., 100000 bushels, probably. Last
year for the corresponding week the visible
increased 2lS,00O bushels. In the face of
this big movement from first hands tho
bears feel confident that maintenance of
values upon the existing basis will be a diff
cult feat. Nevertheless, prices are main
tanned in spite of unfriendly the
ories and criticism. Trading in De-
cember began this morning at 1890,
with May at S3s<c. Sales were made
at soc and S3Jsc respectively but the market
yielded to 199sc and S3l5c. This proved the
bottom, The bulk of trading during the
forenoon w IS around 1gl4(619ssc for Decem-
ber and S2Ss01S3c for May. The majority OF
those who mad been conspicuous on the buy
ing side of late had some wheat for sale, and
HUTCHINSON, Smith and others who are
classed as bears, were the principal open
buyers. 1t looked like an ''eveniug up"
day. The aggregate dealings were PROBABLY
below the average. November left Off at
7Sl9c, December at 79A@795sc and May at
S3%c-a shade lower all around than yester
day. The weather IS getting foul. 1t IS
showing and rainng in the far west and
southwest, raining in the central west and
northwest, with indications of snow
in this locality. This sort of
thing will tend to put the
ground in good shape "productively speak
movement of the cereal. What influence
this will have on prices remains to be seen.
The receipts of corn were close to the esti-
mates made yesterday, so no change in
values could be based on that fact, and for
Monday 24O cars was the estimated quantity.
This is about the recent moderate average,
aud is not Indicative of heavy reserves of old
corn, which are generally claimed to be in
existence. The weather was still reported
wet over considerable territory in the west,
which imported Il modicpm of tirmness into
the early dealings, which was overshadowed
later, however, by afalling off in the de-
mand for cash offerings and lower prices at
which the latter We're selling. Trading was
fair in volume, but mainly local IN character.
The closing prices we're 81 &c for December
and 33 Il C0334c 9 for May.
The oats market was more quiet than dur
ing the three preceding davs, with only
fair speculative business, chiefly in May.
The receipts fell below the estimate by
twenty-siX cars and with rather small Offer
:ngs on future account the market averaged
firm, with May at 2l1S(022c, and that bid
later. Nearer months We're neglected, with
December improving to i01s0l9L4c, and this
month slow at 1890 asked. few cars of
No. 2 TO go to store sold at 1890 and the
Withdrawals were decreased to 67,2S2 bush
els. Some January was changed TO May at
215c difference.
quite "a trade early, especially in mess pork,
but after II o'clock and up to adjournment
the usual Saturday quiet prevailed. The
monthly stock statement did not vary
from Uno OF the
quantity of the different kinds of the pro-
duct on hand except as to the item Of RIBS
which footed up less than expected. AS a
result November ribs advanced 10c In the
face of a decline on deferred deliveries
One feature of the day was break of 21l5c
early in November pork, or from 50 4J TO
S9l2l5. 1t sold at one time at a discount of
sc per barrel on January One pressure To
sell during the first hour amounted almost
to raid, ard the rally from the inside fig
ure was not as prompt or decisive as the
break had been. The reaction was occa-
stoned more by rather general covering by
shorts than by investment buying. As on
the previous days of the week, outside or
ders were very light both ways. Local SEN
timent is, If anything, more bearish and the
packing crowd more disposed to sell the
whole list than noted previous to the last
report of stocks. The undertone of the
market @ for lard was relatively firmer
than for pork and ribs, fluctuations in prices
for this article being very narrow. Specuia-
ton in lard was under the average. Foreign
markets were reported quiet for both lards
and meats and the New York lard market
was easy for near deliveries. Hog receipts
continue larger at all points in the west than
for the corresponding persod one week ago
and prices here to-day for raw material were
about steady. The closing quotations for
future deliveries were 7I69l711c lower than
yesterday for pork, unchanged for lard, 10c
higher for November ribs and easier for
more distant months. Cash sales reached
larger aggregate than have been reported
day this week