Omaha daily bee., 1891-10-04
Traders Talk.

tHICAGO Ill. OCT. h-CDunSeImln " DaY TO
generally disappointing to holders today. As
we said yesterday about wheat. it was II
weather bulge, and in the face of higher cable
quotations the longs attempted to realize on
account of clearing weather, but found buy
ers backward and in order to unload had to
submit to II gradual decline from the opening
to the close. Export BUSINESS is still
out of the question, except for oc-
for Immediate use. With the attempt to
corner September corn still fresh in mind, we
wheat market. Corn opened steady. but ship
pers press sales at every opportunity and. on
worked off a good part of their holdings;
At the close the market lacked support and
looked tired and weak. Oats We're in large
The recent demand from New England
shippers on account of the scarcity of corn
was withdrawn. causing II &c decline in Octo-
Der oats. Tho May future was dull and closed
lec lower. Provisions were depressed by out
week. The short interest was well provided
for yesterday on account of decreased stocks
and shippers had few orders in hand. Alto
gether it was an OFF day for the product aud a
very light business was done. All think the
speculative element in both grain and provis-
ions is well evencd up and ready to scalp for
small profits on the current news.
Co, to s. 4. Mcc'Wh9irter: Wheat cables we're
not as strong as expected, and after Il few
shorts had covered the market sold off lie
seemed to be AN urgent demand for an hour
or two New York bought heavily and local
bulls took on moderate lines. The latter part
York exchanges closed ut II O'Clock ana sup
E Rb,c,r from @nor th 1ots 6 a9%rter gor %as missed hse:
i3h improved the occasion TO close
the market weak at near bottom
New York and ChicHgo bears was to be fought
over again. In the, past SIX weeks the New
instance though the situation has seemed
bearish and prices certain to go lower it has
market Upward. The reported damage in the
tion. Our ,gorrcspondent in thqt soc,
the main line of the Northern Pacific is al
situation worse. MS the wheat is turning black
and some OF IL sproutIng In the shOcN. Many
fields he says will never be threshed. spo-
cial dispatches. from several points to the
newspapers tell the same story and II those
reports are confirmed they are certain to have
clehrances OF wheat corn ana rye from New
York were several times as large rs the guam
demand here for cash wheat, but the
export trade ut the seaboard WAS
not large, Corn and oats were strong Mt the
opening, but sag led. of in sympathy with
wheat, October showing the greatest weak
ness. Receipts continue extremely light, with
an active demand, but the new crop was so
thoroughly dried up by the hot September
weather that IL Is expected 10 be mh rkcted
CCiyer says he thinks some OF IL will grade No.
. this month. In provisions the Armour in
terview in Il morning paper was much dis
cuSsc T.. lie Is a pronounced bull on lard and
ribs, but intimates that pork has not been
well cared for and must be some out OF condl-
ton. This will doubtless scare holders some
and is calculated to feel the difference be
tween old and new pork, but packers do not
take the same view as Mr. Armour. The light
stock Of ribs is favorable to holders and lard
is strengthened by the rapid and
poor condition of hogs.
CHICAGO, ILL.,, Oct, Dupee ~ Me
Cormick to +. g. SwurtZ 4 Co.: Export clear
ances Of wheat this week are l,}lO,Uu0 bu less
than last week, 3,5)1,0OO bu less than the week
before. II was expected that a large local
disappointed the expectations. All these
things, the falling oil in the export, the Inn
prOvemcnt IN the weather and the conduct of
the big shorts were against prices. Cables
came strong but did Tot avail
to Offset all the bear circumstance.
Puts toward the close proved the most cfi-
cicnt support. with fair weather the spring
pool Is said 10 be today 10 under New York.
Corn was helped at the opening by continued
light receipts. seVcnty-SiN cars, There was
finally some sympathy with wheat SO that the
closing prices were somewhat under the first
ones. New corn is expected In here next week,
Mixed with old IL will soon he arriving In con-
siderable volume. The local stock this week
clare that the new crop will be m|crchHntaDle
much earlier thaSl usual. Provisions opened
at a triiing advance and closed weak except
for ribs. Pork at the close showed n decline
from Friday OF nae. The wCakness of pork
was largely due to "a remark by Armour IN "A
newspaper interview 10 the effect that 70 had
been hastily put up and that he felt bearlsh.