Omaha daily bee., 1889-10-14
THE SPECULATIVE MARKETS
Wheat Has a Weak Opening But
Firms UP Later.
NORTHWESTERN NEWS esARlsH.
Corn Inactive and Prices on Near
Futures Especially weak-Provis-
ions Close the Week Quietly
Cattle and Hogs.
CHICAGO PRODUCE MARKETS.

CHICAGO, Oc,. 12.--TSpecial Telegram To
THy BEE. Wheat had weak opening,
but later in the day firmness took the place
OF this easy feeling and the market ruled
quite steady for the last half of the session
at some improvement in values. There was
evidently + lot of wheat for sale early
and the market was half an hour or more
obsorbing the rush of offerings. In this time
December sold down from S2lfc to Sl1Sc and
May from S5lSc to S424c. New York was
weak also, and dispatches from there brought
the Information that heavy lines of long
wheat lsd been dumped over. That market
only yielded half cent or such
matter. The northwest held fairly firm and
cables were decidedly disappointing to the
bears, Instead of being sick, as was con-
fdently predicted they were steady in most
instances. Altogether the situation in a
broad way developed much healthier feel
Ing than wac generally looked for. Decem
Der wheat crowded up steadily to S211c, re-
acted to S24c, rallied again to S29s0DS294c
and held with steadiness in the vicinity Of
S21Sc for the remainder Of the day, closing at
S29sc. May sold up from S4Ic to S514c, back
TO S5c and up to S51Sc, closing ut S514c.
There was very little action
In October, which ranged at S0140QS013c
and closed at S036c. The drift Of news from
the northwest was bearish in the extreme.
Receipts are on the increase In spite of re-
ported statements that they could not get
any bigger because the facilities were al
ready overt ttked A number Of commission
aud shipping houses on change report re-
newal of foreign buying orders for both
wheat and corn. No actual busine IS
resulted. but points were dropped by
bull leaders that large amount
of wheat would have been worked to-day,
but for the advance in ocean freights, which
advance served as bar to business. Ocean
room is scarce and Montreal reports that no
room at all is obtainable from that port
Clearapces for the week from all Atlantic
ports in wheat and flour reached the respect
able total of 1,250,0U0 bushels, Baltimore
contributing the largest share of the busi-
ness. (.
Corn was inactive and easier. Prices on
near futures were especially weak. Trad
ing was largely in the hands of scalpers and
they were inclined to work for lower prices
Reports from the country are all OF one com
plexion and predict an early movement of
the new crop. The shipping demand was
less active than on the two preceding days
and offerings of spot corn were bought at
lower prices, in sympathy with the
marn for futures. The receipts were thirty
live cars more than yesterdays estimates
and for Monday 500 cars are expected.
calling for remark, dullness and weakness
being the chief characteristics. October
opened at 3O1Sc, sold down to 308cM3j4c
and closed at 3O1sc. December was traded
IN to a considerable extent around 301sc and
May at 33(03316c, closing at 3O5s@31c for
December and $3.50 for May, which shows
In the end very little change from the day
before.
Oats were dull, with no interest mani
Tested outside of May, nearly steady mar
being A prominent
was buyer of May at 22QD22]sc, but an
easier tone wrs developed when 80 cars
were announced for next Monday. Aside
from Insignificant trading in November at
191sc, near months We're lifeless No. 2 to
60 to store was steady at 1870, and with
drawals were decreased to 81 .446 bushels.
The provision trade closed the week IN
quiet manner. The October pork deal was
scarcely mentioned, and in the general
market there was no particular life at any
time Trading was slow and featureless,
and with the promise of the arrival of 1885,
GOO hogs this coming week, the feeling was
more bearish than otherwise. Hutchinson
was again the largest individual buyer of
January pork His purchases, in fact, were
the only interesting movements in the
days business. October pork was
held at 5000. The only sale reported was
made at that figure Price changes IN the
product generally were unimportant. Octo-
her and November pork, October and Janu-
ary lard and November short ribs closed the
same as yesterday. January pork and short
ribs were 2l2c lower, and October short
ribs sc higher. November lard was also
shade hotter