Omaha daily bee., 1889-09-30
The SPECULATIVE MARKETS.
Wheat Shows It's Only Firmness
at the Start.
sPlRIrLEss TRADING IN CORN.
Oats Show Up Rather Eirm-Pro-
visions Prove Fairly Int, rest
fng-Cattie Business About
the Same-Quotations.
CHICAGO PRODUCE MARKETS.

CHICAGO, Sep. 27.--[Specal Telegram to
THE BEE, THE wheat market was firm and
even strong early today, but as whole IL
was heavy In tone, and sharp decline oc-
Cured in the last hour and quarter.
Sentiment was bearish, though great caution
was exercised In starting the market The
demand was moderate and offerings were
not excessive in the first half of the session.
Four out Of five of the operators who were
were "whooping things up' q few days ago
are outspolSen for a reaction. Cables came
along earlier than usual, and the blackboard
was distinctly not bullish. For that matter
II has not been bullish for two weeks, the
Interior receipts being largely in excess of the
shipments, while exports are dIscouragingly
light. A great deal of steam has been let off
in the speculative market since last Wednes-
day, and, as no new fuel has been added, the
feeling Is that of languor. Indications would
point strongly in the direction Of a further
reaction but for the one fact that stocks Of
contract wheat are dangerously light and the
quality Of arrivals continues TO make poor
showing. H. is true that the advance of the
past ten days has started considerable wheat
forward, but only small percentage Of it
will come to Chicago. st. Louis
will get the bulk of southwestern wheat
and Duluth and Minneapolis the bulk
of northwestern wheat. The movement in
the northwest promises to increase to a
larger volume prUportionaliy than further
south. Indeed, the principal factor of weak
ness to-day was the assurance received by
well informed people that a very urgent de-
mand for cars in Minnesota and Dakota por-
tended very heavy movement of spring
wheat next week and possibly for consider
ably further in the future. Dispatches from
Duluth early in the day mentioned the work.
ing of $4,000 bushels of hard wheat for ex-
port, but this could not be confirmed. New
York ad vised that eight loads had beon taken
there for shipment to South Amer
lea. The local market did not display
decided weakness until nearly l2 o'clock.
Up to that time December had averaged
about $50 and May above S59sc, the extreme
range having been s24@S3s6c for December
and S51S@S54c for May. During the last
hour, however, values receded and the mar
ket did not manifest rallying power. Last
prices were at about the bottom and the tone
ber opened at S3c, scld off sc, advanced to
S394c, clung around $50 Tor awhile
and then advanced to s33s@s31c
Mitchell leading in the buying. The
denly broke off to sa5sc. The p recoverv cove W to
$3.50 was followed by decline to S214c
Tho last fifteen minutes of the session were
not marked by especially new features. The
closing quotation on December was S2a6c a
net loss of &c. May sold at the opening on
G basis of S514c then off to S51sc and up to
Sb19@S55sc. A decline to S51401S536c fol-
lowed and subsequently q bulge to $500
s5Kc The long break carried the price to
s49zc The close was s5j6c. September
ranged at S1se@QSt &c and closed at S031c.
Trading in corn was spiritless and the ten
dency was toward still lower figures Tran
sactions are said to be curtailed by firmness
and q scarcity of ocean tonnage. The ship
ping demand here confines itself at present
largely to high mixed and lower grades
There was again q good deal of changing be-
tween October and December selling out Of
the near and buying the more distant deliv-
cry. The range of fluctuations was slightly
wider than has been usual for some time,
but further loss in values was the ultimate
outcome. September sold early at 3l3sc but
declined to 3l1sc, and closed at that and
May sold from 331sc early to 33slc later, and
closed at 33s4c bid.
Oats were rather firmer to-day and consid-
cradle life was infused into the deal by
quite heavy trading between Hutchinson
and Sibley the former selling and the latter
buying 100000 to 100000 bushels for May
delivery. Trading in near futures was small.
Receipts are not excessive, but seemingly
sufficient to provide for the necessities of
buyers. Closing quotations record small
advance in the whole list-a mere fraction.
Provisions were fairly interesting. In
October there was some buying by commits
sion houses supposed to be employed by ma.
nipulators, and n later futures of pork as
well as in lard and short ribs, trad
ing made quite n good showing for Satur-
day. There was no marked activity at
any time, but the easier turd to prices, as u
rule, induced considerable covering by
shorts whose operations were we'll distri-
buted throughout the session. Prices were
affected by the continued good receipts of
hogs and predictions of local arrivals this
coming week amounting to 10000 head.
Excepting October pork, the cosings all
around were lower than yesterdays last
quotations. In November pork the decline
suffered was 12I5c, in September lard and
January lard &c, and in October short ribs
an3 January pvr., 71sc. October pork was
29c higher.
CHICAGO 1--WE STnJk