The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-12-02
HARD FOR WHEAT TO RALLY
After Some F~luctuation the Nay Article
Left Off Barely Lice Higher.
Foreign News Was Bearish, While the Adverse
Was True of Home Reports--Corn Recov-
cred Toward the Close Yesterday.


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Provisions Were Stronger, Pork Being Up
35 Cents.
CHICAGO. Dec. 1.-The surrender of
Cudahy. as q seller of May wheat above 79c
took the vim out of the grain pats this aft
ernoon. The market did not recover much.
even when encouraged by the foreign mar
kets all closing firm. and the May wheat
option here left off with q bare 1i16c added
to last nights value. Corn shows a decline
of k0sc. Provisions were strong, how
ever. from start to finish. Pork Is ND SOC,
lard .17lsc and ribs zoe.
While wheat started at about the closing
figures of yesterday. the feeling quickly
turned strong, and there was q steady adj
vance. though cables were easier, the re-
ceipts in the Northwest were again large,
and both telegraph and mail advices from
abroad very discouraging. Stocks of wheat
in Liverpool were reported $500. coo bu
larger than year ego. Russia was said
to have lO0.0OO,00O bu for export. and
the outlook for all European crops was
said to be very fattering. In addition to
this the deliveries on December contracts
were liberal, amounting to from 200, 600 to
1900. 90 bushels. But a rumor was abroad
that Cudahy was again buying. that Pard-
ridge had covered considerably and that
several large operators had bought round
lots for Investment. Another strengthen
ing factor was the statement made by the
Cincinnati Price Current that there was
now available for export only 7o,COO.OOO
bushels This statement was by no means
new, but il had all the effect of a recent
dfannuorv and oanrod fhn ahn1fa ANNA
Later. however, the market Lost over lac of
the $50 gain. The close was steady. The
deliveries of wheat to-day, while appar-
entity heavy, were. IL IS said. SO arranged
Is to appear much more than they were In
reality.
The corn market was helped early by the
strength Of the wheat market. 1t broke
later when wheat began to give signs of q
sinking tendency, but recovered q little to-
ward the close. Trade was light, with
fluctuations confined 10 q range of Sc.
In oats the elevator mon bought the cur
rent month and sold the deferred delivery.
Armour alone changing about 300, 600 BUSH
els. New York also did some changing.
The range was sc, and the close was 80
under last night.
The hog receipts were $1,000 head, in
stead OF $4,000 head, as estimated yester-
day. and estimates for tomorrow are only
26.0C0 head. Those figures and buying by
the Cudahy following put prices up in the
provision pit and kept them mp. The
weeks packing in the West. according to
the Price Current, was only 500, 600 hogs,
against 5S5 600 q year ago. The hog re-
ceipts at Chicago. month of November. was
only GAG, 0C5 head. compared with 1.00S,0 600
tor November. 1891. January pork made
It's principal gain with the very frat sale.
opening exactly loo higher than il closed
last night.
Estimated receipts for tomorrow are:
Wheat, LIS cars: corn, 275 cars; oats. 165
cars; hogs. Q 5000. The leading futures
ranged as follows: