The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-12-02
UNCERTAIN MARKET
Wheat Fluctuated Irregularlyand
Finally Closed at a Loss.
An Early Rise on Several Pieces of Bull
News Was Not Sustained-COrn I'm
changed and Provisions Dull.

CHICAGO, Dec. 1.-The choppiness of the
market was the feature in wheat to-day.
the price skipping about in a highly con-
fusing manner, with a range of sc, and
frally closing Ad1zc lower hanWednesday
Corn, oats and provisions were dull. Corn
closed without change, as compared with
Wednesdays resting price. Oats are Ac
lower and provisions a trife higher.
The tenders of wheat on December con-
tracts were light, contrary to all expecta-
TONS, nearly 100000 bushels seeking a
resting place. Armour & Co., Poole and
Sherman seemed disposed to a all there
was in sight, and prices began to advance
from the opening figures, which were about
the same as Wednesdays closing. The
cold weather was also a bullish influence.
The Cincinnati Price Current estimated the
invisible supply at fully lie. 900. 600 bushels
less than a year ago, and increasing ap-
prehension of impairment to growing wheat
fIom drought and recent hard freezing were
also reported. The financial troubles in Eu-
rope and reports from London that wheat
frcm Russia was being sold at almost any
price offered checked the upward tendency
of the market, and caused the loss of the
first half hours advance. The ~clearances
from the Atlantic seaboard were light
and the price for May went off to 69c. Dur
ing the last hour of the session two sharp
turns in the market were scored. A marked
advance was caused by a report from New
York that Beerbohm's second cablegram
quoted wheat aud flower higher at Paris.
The report was accompanied by buying or
ders, and the price went up rapidly to 695sc
for May. After holding firm near there for
a time. May sold off as rapidly as it had
advanced, and touched $3.50. There was
considerable difference of opinion as to
what caused the break, but the generally
accepted explanation was that it was the
result of taking of profits by those who had
bought on the previous decline. Whatever
the cause there was apparently considera-
bic of it, for May failed to rally, and closed
at the days bottom figures. May opened
at 691sc, sold up sc, lost Ac. gained CSC.
lost 12c, climbed 12c and dropped &c, to
close at 6S34c.
Corn was steady and dull Prices kept
Wednesday, where it opened to-day. The
closing price was the same as the opening
for May, $3.50.
The buying OF 100, 600 bushels of May by
Walker and Wrenn was the only feature
OF the oats market. Opening at 31Ssc, where
it closed Wednesday, May sold off Ac, and
closed at the bottom figures, 31hc.
Provisions began the day at a slight ad-
vance on a reported Increase of 5Q1Oc in
prices at the yards, but later the advance
there was reported lost. and the market
suffered a slight reaction. Trading was
light, but on light estimates of hog receipts
for tomorrow the early loss was over
come. AS compared with Wednesdays
closing prices, January pork, January lard
and January ribs are each .021zc higher.
There was no particular demand for YES
sci room to Buffalo, but one charter was
made TO carry and store corn there at SIC.
Estimated receipts for tomorrow are:
Wheat, 1876 cars; corn, 500 cars; oats, $50
cars; hogs, 1900 head. Leading futures
ranged as follows: