The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-11-12
WHEAT HAS A BETTER LOOK
Estimate by the Government Shows
Crop Calculations We're Too High.
With Scramble for the More Enticing Cereal
the. Price Sho, Upward 1l2c During the
Day. Closing Near Top Figures.


Corn Was Unsettled and Scored Loss, ~
Did Provisions.
CHICAGO. Nov. 11.-Wheat was on the
jump to-day. The government crop report
was the cause, and the price was iifted1izc.
closing within SIC of the top. The figures
on corn muddled the pit, and that cereal
left off with u loss of lac. Oats are I'M
changed, and provisions a shade easier. A
good deal of alarm among shorts was man.
ifest at the opening In wheat. There WAS q
general rush TO cover, and the market for
time was quite excited. Cables were weak
and lower. bnt this bad little or no inhu-
ence here. nor did the fact that Pardridge.
Logan, Sesverns and others sold generously
on the advance. After the noon hour the
market had another spurt. but the rralizing
sales sent 1t back somewhat. IL 10 some
thing unusual for the governments TO make
report on the wheat crop In November,
and operators did not look for any report.
Last months percentages indicated crop
OF $4,000 QUO bushels, based on the percent
ages Of acreage published IN June and the
average yield per acre published In Octo-
Der confirmed the estimated acreage and
the indicated yield as then published. But
the reports yesterday "a Vlven out Dy the
government department showed that the
yield Will not exceed 5O0,000,000 bushels.
and advance in the market. 1t was de-
clded surprise. The opening was about 's
0Ac higher than yesterdays closing
fgures.
Corn was active and unsettled. Open
Ing trades were lsDasc above the final
figures OF yesterday, the government re-
port placing the yield per acre at "a
bushels and indicating crop of l.bSl. OOO.-
600 bushels. being construed by some as
buillsb. The advance brought great
lumber of selling orders. good deal of
long property coming out, under which the
price gradually sagged Oft sc when the
estimated arrivals for tomorrow came In
at l75 cars, causing the market to again adj
vance Sc. This did not last. as continued
selling by prominent houses supposed To be
acting in tho interest of longs caused de-
cline OF y lDasc. The market then changed
some, ruled steady and closed with ls0 Ac
loss. The report reduced previous esti-
mates about S5,0 00. coo bushels- The near
futures were relatively easier than May,
which tended to depress that future.
Oats averaged slightly higher. Opening
sales were made at Il "a zc advance. there
being considerable excitement in May.
There was good realizing by longs, and at
sc for May there appeared TO be liberal
offerings, and it was difficult to execute all
orders at that figure early. Prices declined
asc from the top figures. reacted IS and
tiuctuated within Sc range.
The provision market was not very
active. The principal feature OF tho traa-
ing In the pit was the selling of January
and buying of May lard by Wright at sc
difference in price and in such lots as were
wanted. The prices were at their best for
the day soon after tho opening. January
pork only once touched a point high as it
closed yesterday. 1t wound up at de-
cline of 12l9c. compared with the closing
quotation yesterday. Lard was also easier
and closed with loss of Tho. January
ribs were comparatively firm. the declines
In them being only 2lec.
Shippers were anxious TO secure vessel
room, and the offerings not being large.
agents were able to get ko advance in
rates to Buffalo. and Sc was paid for wheat
tomorrow are: Wheat, 275 cars; corn. Us
cars: oats. 125 cars: hogs. 1900. Tho lead
ing futures ranged as follows: