The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-11-16
GRAIN WAS BOUND TO FALL
Increased Export Business Was Power
less to Stay the Tendency.
On the First Appearance of Weakness Traders
Began to Iiquidats and the december Ar
ticls Became Drug on the Market.


Provisions After Mach support Barely Held
Above Monday Nights Figures.
CHICAGO. Nov. 1s-Big export business
proved powerless to-day to check the de-
cline in the prices of grain. Wheat closed
lie lower for December and Il lower for
May. Corn declined 1bc, and oats sc.
Provisions required the support of their
friends and received it, but Mt the wind up
was only a shade above last nights quota
tions. Besides the liberal trading aid
weak cables, wheat was further influenced
by the large increase in the amount on
passage. l.20s.0 900 bushels. and the increase
of nearly 100000 bushels in the English
visible. In the absence of any fresh news
the trade seemed to forget the
buIlish reports on which The market
has SO recently advanced and began to
doubt the permanency of the improve
ment. Hence on the appearance of the
weakness there was pretty frequent liqui-
dation and good short selling. Decembe
wheat. heavily offered 10y such elevator in
terests as Armour q Co. and Counselman.
proved drug on the market, and carried
prices to discount of Gao below May.
There was a report of 100000 bu of wheat
being taken in ST. Louis fo- export; also,
that Duluth had sold at least 100000 bu.
and it was also claimed that 200 COO bu had
been sold hero for export bat even these
reports failed to have any special effect
on values or create any advance in prices.
The opening WAS but "a O3sc lower than
closing figures of yesterday, and, with
only slight fluctuations. prices declined
halo more with Decem Der sho wing weak
about lac lower for December and ssc
lower for May than closing figures of yes
terday.
Corn was weak from the start on the
more liberal receipts than expected, the
tine weather for interior deliveries aud the
weakness in the wheat pit. Baldwin and
Farnumswere the most active sellers, and
many of the longs threw their holdings
ovsrc0ard IheSs was little demand an; and
not seem disposed to cover. The market.
however hardened a little during the last
hour Baldwin-Farnum buying on the
break, Initial trades were anywhere from
l4c to lac under final quotations of yester-
day; selling carried prices off $50 more.
The market atterward rallied Sc
when the estimates for tomorrow come in
Mt 40 cars. but did not hold long. recedlng
hc. changed somewhat and closed with q
p "a 7sc decline.
In oats there was liberal trade, and q
weaker and lower market This was due
to the decline in wheat and corn. and the
unloading by longs. There was a little de-
mand early. and prices for May. the most
freely traded in. after opening $40 lower,
declined Sc more. A rally TO about OPEN
ing prices followed. but weakness again
developed and prices receded lac, and the
market closed easy with net loss of b "a
hc.
Hog products were unsettled and higher.
The receipts of hogs were less than ex-
pected and prices at the ards were 50l0c
higher. There was little product offered,
and though early prices were lower, the
clique soon became active buyers and
there was sharp advance, but 1t was not
held.
Freights were slow and rates to Buffalo
easy at 23o for wheat and 2l9c for corn.
Estimated receipts for tomorrow are:
Wheat. 225 cars: corn, 10 oars; oat 140 cars;
hogs, $1,000. The leading futures ranged
es follows: