Omaha daily bee., 1889-10-16
The SPECULATIVE MARKETS
Wheat Heavy and Future Business
of Average Volume.
CORN DULL AND uNINTsResrlNe
Provisions slower Than Usual and
No Interest shown in the Octo-
bcr Pork Deai--Hog Deal
ings Again Active.
CHICAGO PRODUCE MARKETS.

CHICAGO, OcG 15.--TSpecial Telegram Ia
THE BEE. Wheat was heavy and lower to-
day and the volume OF business in futures
was about the average. In Offices yesterday
afternoon December wheat was traded IN as
high as S2JEc. This morning the opening
trades were on a basis Of s299c. The market
advanced to S2l5@s2}5c, sold off to S24c,
rallied TO S219@s25Gc again and then worked
down to SlK@s2c. For quite a long time
thereafter December swung between SEC and
S24c. Several times II looked as though
about to break, but in each instance good
buying checked the downward tendency.
The close was fat at SIC, with October
quoted at S0l4c. Outside news was bearish,
In tenor, cables came in shade lower, no
export demand was reported from any quar-
ter and receipts at primary markets register
III cold figures the story OF enormous for
ward movements. The receipts at eleven
principal points to-day aggregated 1l3O,OOO
bushels agans 461 100 bushels shipped, Of
which only 100000 bushels went out
of the country. Locally the in
movement is generous and inspec-
ton is improving somewhat. Arrivals
yesterday were 277 cars, of which 30 graded
No. g. lo.morrow's estimate calls for 226
cars. Hutchinson was one of the principal
oCllSiS buV'o S-/g'i "hN NuS o'H'pNio '''"'S
up their minds that he would turn buyer at
s2l4c He didn't, but when the crowd got
frightened around SIC he took all the offer
ings, greatly to the relief of the St Louis
contingent which had undertaken to stop
the decline at S24c. May wheat opened at
S514c, sold up to s51l 0S539c and off to S45sc,
steadving up around S50s51Sc but closing
at S41E0DS5c Foreign news, however, was
the most depressing of any in tone. Beer
bchm's estimate of the amount on passage
showed an increase of 2,016, 600 bushels ana
dispatches from London aud Liverpool men
toned that the home deliveries
were in excess of home requirements.
The Mark Lane Express, In it's
review of the grain trade, says that 100000
quarters of wheat are being shipped weekly
from Russia, which is enough TO meet the
needs of consuming countries aud go
towards supplying future deficiencies
Local speculative sentiment favors the
theory that the situation is getting bearlsh.
True, the visible stocks do not increase as
rapidly as in former years, but wheat keeps
pouring in and the pressure from behind
does not indicate any danger of the drying
up of supplies, and meantime the export move
mentis not nearly up to the average necessary
to the shipment of the surplus of thus crop
year. There is, however, a determined bull
party IN every considerable speculative COM
munity and up to the present time they
have been able to hold their own, though
prices are now nearly Be back from
the top. Outside markets kept in line with
Chicago, an average general decline Of 40
GC occurring
The corn market was extremely duh and
uninteresting, both for cash and futures.
There were only 40 cars received to-day,
against 475 expected, but $4,000 bushels came
in by canal which were not taken into yes.
terday's estimates TOmorroW's receipts
are expected to be 3O2 cars The quantity on
ocean passage decreased 424 600 bushels since
week ago and the foreign markets were
tame and without special encouraging fea-
lures to either side of the market The
amount of contract corn in store here at the
end of last week was 2 596, 637 bushels
Fluctuations were slight and the amount of
business done was small. The closing prices
We're lower than on the previous day, being
80T03lc for October, BIC for November
and 33lSc for May.
Oats were quiet and easy to &c lower,
with a fair trade in May and also consider
able business in January at about &c pre-
MUM over cash. The receipts were again
large, with 12l cars posted for the first Two
days of tins week. Other elements of weak
ness were a small decline at New York and
the general tone of business on the floor.
May lowered around 221Sc, with December
selling off Sc to 1915 and October neglected
at 1S4mlS}sc. Out of nearly 10000 with
drawn from store, 49, ,l6l bushels, or nearly
half, were contract grades. No. 2 regular
was quiet at 1890.
Provisions were slower than usual. In
October pork there was no interest shown,
and in the general trade relief from positive
dullness was furnished only by Armour and
Hutchinson. The latter boughJ back about
one-half of the January pork he sold yester-
day, while Armour depressed October short
ribs by rather free selling. OUTSIDE specu-
laton was almost at standstill, and, all
things considered, the market was more
passive and featureless than on any day for
weeks. Still, former prices were quite well
maintained. October and January pork anu
January lard closed the same as yesterday,
while October and November lard, Novem-
ber pork and November and January short
ribs were only 216c lower. October short
ribs showed more weakness than any other
article traded in and suffered net break of
121Sc, Cash buyers paid $500 for choice
lard. For cash delivery sales of short ribs
were reported at S525. Green hams aud
shoulders were nominally unchanged