The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-12-30

Provisions Were Strong, Pork Gaining 27l2o
and Lard and Ribs zoe.
CHICAGO. Dec. 29.-The report of a de-
crease in stocks was the active factor in
the wheat market to-day. and after a weak
opening prices rallied fully 1c, closing at
an advance of asc per bushei. Corn and
oats shared in the betterment of the wheat
market. The bull clique in provisions was
buying to-day, and caused o scare among
shorts. which materially added to yest-r.
days values. Wheat started of very weak.
All the conditions seemed bearish. cables
being easier. domestic markets slow, ana
the Cincinnati Price Currents crop sum-
mary reported the winter wheat
fields covered with snow and so
well protected that 10 apprehension
need be felt on account Of the cold
weather There were apparently liberal
selling orders on the market, and the pres
sure was such that prices immediately
gave way. On the weakness the realizing
was general. and 6 good deal OF long wheat
came out. When the market was the
able supply was posted, showing an uneX-
pected decrease Of 1.650. 600 bushels east OF
the Rockies, aud 2.171.O00 bushels decrease
on both coasts. As the visible supply points
HuOWtu an luCEtaSo Oh l,OOU, UOO Duoutso,
Bradstreet's figures Indicated that there
must have been q decrease in the points
outside of the official list of over 3. SOC. 600
bushels. This was a startling surprise TO
the trade, and Its effect was instantly bull
ish. Sellers made q rush to get back what
they had parted with, and there was q
season of activity and considerable excite
ment which sent prices up In short order.
There was the usual criticism OF Brad
streets figures, but the effect was not much
changed by the doubts sought to be thrown
on the report. The decrease, it was claimed,
was due to shYInkage in the Northwest
country elevators and in private elevators
in Minneapolis. Farmers deliveries In the
Northwest were reported small. and it is
claimed that the present receipts consist
largely of Accommodations on side-tracks.
The opening was "a SO lower, and after
| rallylng ls0Ac again declinde A0$sc. be-
came stronger, and with slight fluctuations
prices were advanced %01c. held steady
and closed firm.
In corn the feeling at the start was weak.
and there was moderate selling at the
opening at q fractional decline from yes
terday's closing prices. but at 45c for May
there was an urgent demand both on local
as well as outside account, and as wheat
turned MP corn sympathized. advancing
$04c, eased off slightly, and closed with
A0ssc gain. According TO the Price Cur
rent there is q possibility of lessenine of
the arrivals in the near future. Brad
streets figures show an increase In the
visible supply of 492, 600 bushels.
Oats were easier early, prices declining
b@4c from yesterdays close, due To the
weakness in other grains. Later. when
they rallied. oats followed. The buyinR
i'm approved and prices for May advanced $50
1Ac and closed steady at nearly the top.
with q gain of ls0 40.
Rather liberal receipts of hogs caused
temporary weakness in provisions early.
but Cudahy and Wright were credited
with buying n good deal Of stuff, and as
they had been previously supposed to be
taking every opportunity which offered TO
get rid of their holdings, their contrary
action to-day alarmed the shorts and caused
the market to become stronger as the
session progressed. Compared with rest
Ing prices yesterday pork is 27l2o higher.
with lard and ribs both 200 up.
Estimated receipts for tomorrow are:
Wheat. 393 care: corn. ?93 cars: oats. 1873
cars; hogs. 10000. Tho leading futures
ranged as follows: