Omaha daily bee., 1889-11-07
THE SPECULATIVE MARKETS.
Wheat Prices Higher and Controll-
ing Sentiment Bullish.
CORN STRONG ON NEAR DELIVERY
Provisions Show Good Strength
throughout the Entire Session
Cattle Values weak-Hogs
ower-Quotations.
CHICAGO PRODUCE MARKETS.

CHICAGO, Nov 6.--TSpecial Telegram 10
The BEE. Wheat was dull and firm por-
tion of the time to-day and active and firm
the rest of the day. There were reactions,
as a matter of course, but the average range
Of prices was above that on Monday and the
controlling sentiment was bullish. Foreign
markets were firm, but that was ALL though
crop news from the old world was decidedly
advantageous to holders. Norton & Worth
ipgton had q cable from London to the effect
that British consul had reported 40 per
cent deficiency in the wneat crop OF south
ern Russia, aud Lindblom had advices from
Mark Lane that the German rye crop was
6,00O, 600 quarters short of the requirements.
Another cable credited German grain mer.
chants with being heavy buyers of Russian
wheat. Later in the day New York and
Baltimore advised that from twenty to
twenty-five boat loads had been worked for
export That worked in New York was No.
red, which is looked upon as bull point.
The local market developed faint indications
OF weakness early in the day, ana about II
o'clock there was another weak spell on the
selling out of some good sized lines
OF long wheat, but the recovery In
each instance was prompt and the tone of
the market was bouyant, especially during
the last hour of the session. December
started of at S056c, sold down to S0l9c and
up to II o'clock iiuctuated between S011c and
Sic, selling back. however, from the outside
to S05kc, and subsequently advancing to Sic
again. Then occurred n reaction of about
&c and another bulge followed, which car
ried the price to size. The closing quota
tion was sOJsc. May opened at SAC, ranged
at S4l49S4Ssc during the first half of the
session and S415 0oS456c the last half, closing
al S4ab @4mc. November left off at 70s4c.
What caused the advance toward the last
was news from the seaboard. From amod-
est two boat loads at the start the number
swelled to nineteen, then to twenty-five and
finally to twenty-eight. This cooled the bull
ish ardor and generated a buying fever.
Hutchinson was Il conspicuous and the steadi-
est buyer. He bought all day. Lindblom
was also very active on that side. Most of
the rank and file of commission houses had
plenty of wheat to sell for northwestern and
scattered country accounts.
8The corn market was strong and prices on
the near end of the deal were higher, but
this state Of affairs barely extended beyond
the November delivery. December and on
ward responded reluctantly to the boom in
cash corn. Trading in futures was inactive
and fluctuations narrow. The receipts here
were only 227 car loads, but by canal 39,650
bushels were received for tomorrow. One
reason given for the eagerness Of shippers to
secure cash offerings was that there was
large feet of vessels Offering easy rates for
freight, and that the marine insurance on
sailing vessels expired on November 10, so
they were anxious to avail themselves of the
present opportunity. December closed at
BIC, against 31s6c on Monday, and May at
3314c. against $500. while November closed
at 321Sc bid, or 3sc higher than on Monday.
The oats market presented little of inter-
est, with only light speculative business,
and that chiefly local IN character. Under
mild inquiry on the part of The shorts and no
pressure to sell, May improved A(0llc to
2214 and later receded point, while near
months were dull, but fully steady, with No
vember at 1S1s0o19c and next month touch
ing 19l4c. No. . to go to store sold at 1890
and Withdrawals were S3,27S bushels.
Provisions had a pretty firm opening this
tone was one of strength throughout the ses-
sion. Speculative trading was of fair volume
In the aggregate, but 1t was generally case
OF Hutchinson against the crowd. That oper-
both on call aud on 'change, while the sell
ing was of general and miscellaneous char
acter. Outside business does not
improve in the least. Packers were
not pressing future property for
sale to-day, though hog receipts were
tierces lower at the yards. On call 2, ,250
barrels of pork, 5000 tlerces of January lard
and 30, 900 barrels Of RIBS were sold, Hutch
inson taking nearly all of the offerings.
During the session he bought about l,5oo 900
barrels of January, February and May RIBS
In pork and lard January was the principal
delivery traded IN. November attracted less
attention. Fluctuations in prices were not
wide january pork was covered on the ex-
treme range of S9.0716C09. 171S, while the
to 35.s5, and ribs mt S470@472l5. The final
closings at this point for the future product
were 219t95c higher for November and May
pork, January being unchanged while No
yemoer and year lard was 213@711c lower,
January unchanged and May 215c stronger
Rib futures were 2IAD5c higher at the close