Omaha daily bee., 1889-09-24
The SPECULATIVE MARKETS.
An Activity of Trading in the
Wheat Pit.
uNe as,Msss AMONG THE SHORTS
an Increase in the Visible supply
A Good business In Corn at
the Opening - Dull
ness In Oats.
nrcAso PRODUCE MARKETS.

CHICAGO, Sept 23--TSpecial Telegram TO
Tsk BEE. 1.-The wheat market continues
.trong and frrther Improvement in prices
is noted as result of the active days trad
ing in the wheat PIT. The market is In
nervous state and fluctuatlon, in values were
incessant. Apprehensions were felt in GER
tain quarters of the manipulations in SepA
tember but it cannot be learned that there
is a sound basis for such fear. The open in
terest In September is not generally believed
TO be important enough to warrant anybody
in duuning the Dealers for attempting the
manipulation. Gossip on that point stimu-
lated business in this months contracts,
however, and there was just sufficient un-
easness felt among the shorts to run prices
up sharply. For instance, September which
closed Saturday at 7s1sc, opened this morn
ing at 7914c advanced to SOC, sold Off to 79I4c,
advanced again quickly to s0Ac with consid-
cradle business passing, and then
rally to sO5sc. The close was
S0Xc, There was also liveler trade in
October than has been witnessed in quite a
while and several good sized lines were
changed over into December at a difference
of 1c and l00i1Sc. The failure of receipts
from the new winter wheat crop to improve
In quality or come up to the hopes and expec
tations as TO quantity has caused many OF
the more conservative among the bears to
feel like going out of the near months. This
feeling induced considerable buying in of
December and selling of May. TO such an
extent was this changing of base INDUCED in
that the difference between December and
May was reduced from 81 to &c, shrink
age of &c. December opened Mt SOC, ad-
vanced to SOl1C1SDs6c sold off 791S01S0c and
advanced rapidly ana steadily to SO94c. Only
one or TWO trades were made at that figure
when free selling by Hutchinson and others
broke the market back to S04c. The post
ing of the visible supply showing an in
crease Of 1,5OU,O0O bushels, was a signal
for another up movement This time the
advance did not stop until Sic was touched.
The top was gained few minutes before l
O'Clock. Trade was active and on large
scale during the last half hour. A big battle
and at Sic at tho last. The closing quotation
was SO7Sc. May opened with sales within "a
range of nc or from S31ac to $3.50. The de-
mand was active at the outset but selling OF
the character described above caused some
recession of values and the price got down to
S316c and subsequently to S3l4c. On the last
whirl the market was rushed up to SAGE.
The final quotation was S4QpS4 Is, as compared
with Saturday, the closing range marks a
net gain of PIC In September, 2sc III Decem-
ber ana 5Gs4c in May. The strength of the
foreign markets, threatened rough weather
IN the northwest, light receipts the world
fears of manipulation as the outcome OF small
stocks of contract wheat were the features
contributing to the advance to-day.
There was good business done in corn
near the opening of the market, but prices
were easier and orders from the outside
were principally to sell. Buying appeared
to come mainly from the shorts. there being
nothing in the outlook presented by the de-
velopments early in the day to stimulate pur-
chasing for Investment. There are liberal
offerings of No. for the December delivery
at this and outside points, which tends to de.
press the market, being offered at from 21S0
Be under the present price. A decrease in
the visible supply of 100000 bushels gave
some encouragement to buyers. and the ad-
vance in the price of wheat was also in
their favor, and 1t was from those combined
causes that the slight advance towards the
close was chiefly due. The export movement Is
not active and outside markets all have a
downward !, y, tendency; T., September which
from 3l1sc to 8l&@3lAc, but toward the
end both became much tirmer and closed as
follows: September 321sc, October 32c, and
May 33Tc.
Oaats were quiet and much of the time
positively dull in the speculative market at
prices averaging nearly steady. With large
posted receipts and small Withdrawals for
shipment together with the prevailing weak
ness in corn, the tendency was one of easness
but any downturn of consequence was pre-.
vented by the steady bidding of 229sc for
May on the part OF prominent operator.
trading at 225scCa22slc Near months were
dull and firm, early, under the lack of
offerings, ruling tame and easier
later. No. 2 white for October sold at 81 &C,
and for May 2416c was bid with sellers for
24hc No. 2 oats to go to store sold spar
ingly at l94c
In provisions the week opened with no
recovery from the qaietude lately existing.
In all branches of trade rather slow con-
dltion of trade prevailed. Outside orders of
all descriptions We're insignificant, and
among professional traders there was n de-
cided indisposition to take sides. The little
business transacted was wanting in feature
and failed to furnish single point worthy
OF a passing notice. Still the feeling was
quite strong and in several instances prices
were advanced over Saturdays cosings. In
November pork the day rested with an I'M
provement OF 719c, in September short ribs
of l5c, IN October short ribs of 71Sc, in jan
nary pork of &c, and in January short ribs
OF 2l9c.