Omaha daily bee., 1889-10-02
The SPECULATIVE MARKETS
Wheat Develops Good Strength
Early But weakens Later On.
FIRST TRADES IN CORN FIRM.
All the Interest Developed in Pro-
visions Conferred In October Pork
and More Than n Dollar
Decline Results.
CHICAGO PRODUCE MARKETS.

CHICAGO PRODUCE MARKETS.
CmCAGo, Oct. 1.-(Special Telegram TO
The BEE. Wheat developed surprising
strength early and an Improvement of about
1c from the bottom prices resulted, but the
advance was more than lost before the end,
and the feeling at the last was far from
strong. The bulge seemed to be largely 10
cal, the outside market not sympathiznR
fully, and the eIgn markets displaying
distinct signs OF weakness. The movement
Of wheat-spring and winter-toward central
points Of accumulation is on the increase.
Country elevators in the northwest are
rapidly filling up and the overflows are daily
becoming greater. Prices in Minneapolis
aud Duluth are held with fair degree of
frmness in spite of the large receipts and
prospective increase in the near future.
Testimony in support of the claim that
the mills throughout the winter wheat
districts are at length filled up is getting
hourly stronger. If it be true that the mills
are supplied, the absorption of farmers
wheat, which has a2tonlshed the trade and
dsarranged the calculations of statistical
prophets, will cease to b9 a disturbing ele.
ment and the current of commercial wheat
will not be subjected to sapping prices. 1t is
the Increased movement, which seems to be
clearly fOreshadowed, and the disappointing
smallness of the expectation of wheat that ia
shaking the confidence of the bulls. With
exports for the first three months of the crop
year 1000, 900 bushels less than last and the
demand practically checked for the time be-
ing at current prices, the friends of wheat are
in mood TO pause and await developments
before pressing bulllsh views on their
friends or the public just at this juncture
and after an advance in the market. De-
cember opened at S31ic, sold off sc and then
advanced TO S39s@S5I9c on the failure OF
local holders of cash wheat to deliver any
considerable quantities. A reaction of 3Sc
followed, the market feeling bearish news
from the northwest-,SS1 cars in Minneapolis
and Duluth-and quiet cables. 1t was
learned however that the amount on pass
age showed u decrease of 600 bushels and
served as an excuse for an upturn. A sud
den local demaid started up and carried the
price tI S41sc. On the advance
there was heavy covering for local
account and at the top big lines of
long wheat came out. For two days Baker
has been free seller anu even that stawart
bull confesses feeling diminutlon Of con-
fidence in the immediate future Of values.
He will wait to see the effect of the aug
mented movement of wheat from the coun-
try. The balgy feeling spent itself by noon
and about half an hour later a break oc-
Cured. December went to S3l4c, rallied
feebly, and then sold down sharply to S21Sc,
closing at S2Js(0S3c. The wheat support of
the market seemed to give way all at once.
Local parties who have been most active in
bidding up prices lately, withdrew from the
arena and left the market toitself with a result
disasti GUS to longs. May was quite as strong
as December early in the day. 1t opened at
$500 advanced to S61sc, and after reaction
to $500, jumped to S656c. On the subsequent
break that delivery slid off to S51ac and
closed at $3.50. September opened at Sl3sc,
ranged from S2ltc down to 81 &C and closed
at 81 &C.
Early dealings in corn were characterized
by considerable frmness. The receipts
were about two hundred cars under yester-
days estimates and there were received by
canal 39, 900 bushels Gables quoting a firm
market abroad, together with an active de-
mand for shippers for to-day's receipts, were
the apparent cause for the fl N feeling
which was noted in early dealings.
For tomorrow the estimated carload re-
ceipts are 40, and this had, also, something
to do with the Improvement in tone. The
later weakness in wheat had depressing
effect and caused Il weaker feeling toward
the close than hae beer general the greater
part of the day. The closing quotations
were: October Bic, December 3114M3!&c
and May 333eM334c.
Very few oats were delivered on October
contracts and the market was destitute of
new or striking features. The market is
quiet and duh without being weak or show
ing special symptoms of Il change IN any
direction. Trading to-day was principally
in October and May October ranged at
1873 @l912c, closing at l91fc. May opened at
225sc, sold up to 22$$4c and left off at the top.
In provisions almost all the interest devel-
oped was centered in October pork. Deliv-
cries of the manipulated article on contracts
outstanding for this month amounted tc fully
$4,000 barrels. This pork went to about half
n dozen clique houses and was taken in and
paid for without a murmur In fact, the
prompt and cheerful reception of deliveries
nccasioned q strong feeling, and at the
opening of change Sll.40 was paid readily.
From that price the market advanced with
some fluctuations and considerable buying to
81 80, and 1t was even stated that SLIGO was
bid by one over-avaricious buyer and re-
fused. When these figures were reached,
however, sudden change occurred. Under
the leadership of broker supposed to repre-
sent Cudahy the trade was sharply raded.
Offerings became more plentiful than the
wants of buyers were able to absorb, and as
the clique or its representatives in the pit
price took IA severe tumble. From the
highest point touched it declined in
good sized jumps to Sl0.25 without
any special reaction. The raiders were in
The ascendancy and they handled the market
without gloves. From the lowest quotation
the closing was at 5000, or 81. % under yes
terday. 1t certainly was an uncomfortable
day for the clique and IN some quarters il
was predicted that the deal would be aban-
doned before the close of October. Packers
on the short side declare their purpose to
turn their houses to good advantage making
pork to deliver on their trades If
IL maintains its lead and should
be forced to take pork made
this month, the clique will certainly close its
deal with large holdings. October pork sub
ordinated everything else and made the gen
eral market comparatively slow, still strong
condition of affairs existed, and the changes
made in prices from yesterdays closing quo
;ations were generally insignificant. No.
somber pork, October lard and November
and January short ribs declined q 5c, Octo-
ber short ribs sold up 2l9c, while later deliv-
cries Of lard underwent no change whatever.
CHICAGO LIVE SrOCN.
CuIgIun Oct 1-ISnecinl Taln1rn,n Ia