Omaha daily bee., 1889-11-04
The SPECULATIVE MARKETS.
Nothing Significant in Trading In the
Wheat Pit.
CORN BUSINESS OF FAIR VOLUME
The Usual Saturday Quietness Pre-.
walls in tho Provision Pit-Hogs
In Fair Demand and
Prices Steady.
CHICAGO PRODUCE MARKETS.

BEE. There was nothing significant in to-
days trading In the wheat pit. Business is
largely local or professional IN its character,
though of course commission houses are In
receipt of their usual daily budget of orders,
based on the country movement The mar
ket was rather dull as o whole and fluctua-
tons were confined to narrow range. Ca
bles were not influential as factor In the
days traffic, looking neither one way or the
other very hard. In addition TO yesterdays
export business, New York reported five or
six boat loads. Export clearngs from At
lantic ports for the week include $1,000
bushels of wheat, 26i 900 barrels of -four and
100000 bushels of corn. Stuff is going
out of the country steadily, though
not in large enough volume to
come up to expectations. The interior move
ment keeps up amazingly, however. Re-
ceipts at all points named in our regular
tables for the first i've days of the week foot
up 4,T44, ,545 bushels, against 2,56l, ,537 bushels
for the corresponding period last year, and
shipments were 1,02l, ,90i bushels, against
1894 bushels. Another big increase in the
visible supply is expected somewhere around
10000 600 or ., 800, 900 bushels probably. Last
year for the corresponding week the visible
increased 3lS,000 bushels. In the face of
this big movement from first hauds the
bears feel confident that a maintenance of
values upon the existing basis will be diff
cult feat. Nevertheless, prices are main
tanned in spite of unfriendly the
ories and criticism. Trading in De-
cember began this morning at 79Bc,
with May at $500. Sales were made
at SOC and sage respectively, but the market
yielded to 1890 and s3lGc This proved the
bottom, The bulk of trading during the
forenoon was around 79140I05sc for Decem-
ber and S25s@S3c for May. The majority OF
those who had been conspicuous on the buy
ing side of late had some wheat for sale, and
Hutchinson, Smith and others who are
classed as bears, were the principal open
buyers. 1t looked like an "evening up''
day. The aggregate dealings were probably
7Sl5c, December at 79s49197sc and May at
s39Sc-a shade lower all around than yester-
day. The weather is getting foul. 1t is
showing and raining in the far west and
southwest, raining in the central west and
showing and blowing great guns in the
northwest, with indications of snow
in this locality. This sort of
thing will tend to put the
ground in good shape, "prodlctivey speak
ing" but it will tend to check the country
movement of the cereal. What influence
this will have on prices remains to be seen.
The receipts of corn were close to the esti-
mates made yesterday, so no change in
values could be based on that fact, and for
Monday 40 cars was the estimated quantity.
This is about the recent moderate average,
and is not Indicative of heavy reserves of old
corn, which are generally claimed to be in
existence. The weather was still reported
wet over considerable territory in the west,
which imported modcum of tirmness into
the early dealings, which was overshadowed
later, however. by falling off in the de-
mand for cash offerings and lower prices at
which the latter were selling. Trading was
fair in volume, but mainly local IN character.
The closing prices were 81 l6c for December
and 331s 93314c for May.
The oats market was more quiet than dur
ing the three preceding days, with only a
far speculative business, chiefly in May.
The receipts fell below the estimate by
twenty-six cars, and with rather small offer
ngs on future account the market averaged
firm, with May at 2l16@22c, and that bid
LATER Nearer months were neglected, with
December improving to l915@l911c, and this
month slow at 1870 asked. A few cars OF
No. 2 to go to store sold at 1890 and the
Withdrawals We're decreased to 1882 bush.
els. Some January was changed TO May at
212c difference.
In the market for provisions there was
quite trade early, especially in mess pork,
but after II o'clock and up to adjournment
the usual Saturday quiet prevailed. The
monthly stock statement did not vary
essentially from the estimate of the
duct on hand, except as to the item Of ribs,
which footed up less than expected. AS
result November ribs advanced l0c In the
face of a decline on deferred deliveries
One feature of the day was a break of 271 sc
early in November pork, or from 80 AZ TO
S9.l23. 1t sold at one time at a discount of
&c per barrel on January. One pressure to
sell during the first hour amounted almost
to raid, and the rally from the inside fig
ure was not as prompt or decisive as the
break had been. Tho reaction was occa-
stoned more by rather general covering by
shorts than by investment buying. AS on
the previous days of the week, outside Or
ders were very light both ways. Local SEN
timent is, If anything, more bearish and the
packing crowd more disposed to sell the
whole list than noted previous to the last
report of stocks. The undertone of the
market g for lard was relatively frmer
than for pork and ribs, fluctuations in prices
for this article being very narrow. Specula-
tion in lard was under the average. Foreign
markets were reported quiet for both lards
and meats and the New York lard market
was easy for near deliveries. Hog receipts
continue larger at all points in the west than
for the corresponding persod one week ago
and prices here to-day for raw material wero
about steady. The closing quotations for
future deliveries were 71a@l71ac lower than
yesterday for pork, unchanged for lard, loo
higher for November ribs and easier for
more distant months. Cash sales reached a
larger aggregate than have been reported
any day this week