Omaha daily bee., 1889-10-09
The SPECULATIVE MARKETS
A Fair Degree of Steadiness Pre-
walls in the Wheat Pit.
PRICE FLUCTUATIONS NARROW.
Trading In Corn Wholly Devoid of
Interest-Octob, Pork the Only
Feature i'm Provisions- Cat
tie aud Hogs.
CHICAGO PRODUCE MARKETS.

CHICAGO, Oc,. s.--TSpecial Telegram to
THE BEE. The wheat market held with
fair degree of steadness to-day. Price
fluctuations were within Limits of 2sGHc and
the closing shows very little change as COM
pared With yesterday. The news was for the
most part bearish in tenor, but values refused
TO yield seriously to the pressure. Cables
are substantially coloress and the situation
abroad seems to be without important
change. Exports for Europe are still very
light, though heavy clearauces are expected
from Baltimore tomorrow. Dispatches were
received that 100000 bushels will clear
from that port tomorrow for South America.
In explanation of the recent revival of the
wheat trade with South America, the state
ment Is made by a southern commission mer-
chant with a South American connection
that it is due 70 the shifting by the Brazilian
government of the import tax from wheat to
-four, this being done to encourage the home
milling industry, which is under di-
rect government protection. Up to quite
recently the United States supplied
Brazil with fiour-now it Is the raw material
that is going there If the explanation is
correct, what has appeared strange will no
longer mystify the public The northwest
was rather quiet to-day and news from that
quarter was not crammed down the throat
OF the trade. The big movement Keeps up,
however, and Chicago-Inlxers-are bring
ing considerable this way and lodging it in
their private warehouses. The receipts at
primary winter wheat markets are not heavy
and they seem to be gradually falling Off.
This is particularly true OF Toledo and more
northern points. Strictly commercial in for
nation from outside points possessey no
special Importance or significance Flour men
report SLACK trade, but New York reported
the sale of 10000 packages for shipment
abroad. Home agents and millers have
HAD nothing that looked like wlndfall, ard
they do not speak encouragingly of
the present or the near future. The
local market did not develop any particu-
larly striking features. Scalping bears sold
it down early from s3lsc to $3.50 on the big
movement in the northwest and on an in
crease of PAS, 900 bushels in the amount on
passage when good sized decrease had been
predicted. Strong buying by Hutchinson
turned the tide either way very quickly and
the market recovered to S3Lic The price
did not go far from S3C6S3lsc for long time,
but just before the bell tapped the market
got shade weaker and the last quotation
was S2}sGS3c. May opened at S55Sc, sold off
to S5l4c, rallied to S534c and closed fiat at
S53sc. The market, while it acts steady, is
not one in which the bulls themselves feel
the greatest degree of confidence apparently.
The light receipts of winter wheat and the
small visible supply is Offset by the absence
of the export demand for grain or its product.
English and French crops are below expec
tations ana that Russian wheat is not being
pressed for sale. 70 these circumstances is
due the altered tone OF the foreign market
dispatches, but the tirmness has not contin-
ued long enough yet to result in a revival of
business to any appreciabe extent. The
local market is dull.
Trading IN corn was unattractive 10 specu-
lators and devoid of features. The receipts
We're liberal, comprising 5S7 car. loads aud
6O,5O0 bushels by canal The weather con-
tinues favorable TO the early grading of new
corn and to the free movement from country
points, while there was no encouragement
from outside domestic or foreign markets to
base hopes of better prices on. May reached
lower point than had before been quoted
and this months delivery also recorded
history. The closing prices show
a decline from yesterday, being
3O5s@3lc for October, 3O1sc for November
and 33c for May
There was dull time IN oats until about
threc-quarters of an hour of the close, trad
ing having been lazy and brokers had II lazy
time of it, BY and by the market got filled
np at the ruling ,quotions.l9c for October,
and property began to be offered for less
money. few sales of October were made
at 1880 and May skipped without an effort
from 22l4c to 23c. Yesterday the decline
was stopped at 2214c and to-day at &c On
the little break Hutchinson was the principal
buyer, and his purchases contributed largely
TO the steadiness during the last fifteen
minutes The oats that came on the market
comprised speculative holdings and sales for
country account against possessed property
There We're no sales of October at 1890 and
the market was carried back to lSJSc, where
1t closed with May at 22C022bc.
In provision circles the October pork deal
again claimed considerable attention. A
motion for a revival of the Injunction
dismissed by Judge Shepard has been made
in the appellate court, and pending ITS con-
sideration and final settlement the clique has
decided to adhere to it's old policy of refusing
new packed pork in settlement of contracts.
Yesterday afternoon and this morning its
representatives refused several thousand
barrels which were sold ''for the account of
whom it may concern" at prices ranging
from $i040 early down to Sl0l5. This pork
was bought up mainly by shorts Hutch.
inson, however, accepted few lots of the
"boycotted' article under protest. claim
ing that right while the ques-
tion of the legality of the de-
livery was receiving consideration. The
persistence of the clique naturally occasions
good deal of comment 1t has surprised
the trade and given rise to all sorts of
opinions regarding the clique's intentions
and purposes A good many shorts now
believe that the market is working to save
time, and by keeping the matter in court to
curtail the making of pork. Procrastnation
is charged TO be its ruling purpose, and that
when the month is far advanced and packers
fnd themselves unable to make property to
meet their contracts they will be open to
compromise. To- day October pork sold
straight AT $9.95@lO,00 1t opened al $40. 30
and closed at slO,05 In the general trade
strong feeling prevailed. Trading was in
some respects of smaller volume than yester-
day yet the offerings were limited and
sellers found quite good market. The days
prices, however, generally closed easier.
October lard and short ribs and November
lard declined 21Sc and January futures Be all
around Cash buyers were deferred
by the hrmness of packers from
making large purchases. They paid s6 27Is
@6,3sls for some laru S6.i5 for short ribs
9]sc for loose l6-pound sweet picked hams
and nc for l6-pound green hams The
favorite delivery in future trading was
January, which sold at 50 s9271lCa9371S for
pork, s5,22l5G597l5 for lard and sLs210
4.771s for short ribs, Pork for the same
month closed nj 80 ~ /, lard at S592l% and
short ribs at si72l1 bid. Clearngs for
nearer deliveries than January stood at
1920 for October lard, s5.05 for October
short ribs, s9.32ls for November
pork, S60O for November lard a. so
Tor November short ribs and S5.92lS for year
lard. AT the close the market was weaker
than at any previous time of the day. Pork
closed 45c lower for October and SC for
November. January was advanced 2ISc
Cash closed at $40 GOA 1905.