The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-10-18
MORE Low RECORDS
CHICAGO WHEAT YESTERDAY FELL
TO 81 Lee FOR DECEMBER.
All Grain Became Very Weak shortly
After the Opening, recovering
Later in the Day.

CHICAGO, Oct. 1.-THE markets were all
very dull for an hour to-day. After that
there was a fair amount Of business at ir-
regular prices. Wheat, corn and oats be-
came very weak. but woke up and closed
quite firm. wheat and corn at practically
unchanged prices, as compared with yester-
days closing rates. and oats &c higher.
Provisions were moderately active and
fairly steady. Before it's reaction, Decem-
Der wheat made another low-price record
at 5112c.
Wheat has become a chronic record
breaker, and to-day it's previous record for
dullness was in danger of being broken.
Bulls and bears appeared by common con-
sent TO have agreed for an hour that there
was no chance for profit in buying Deem
Der wheat at 521sq52Ac, or in selling it at
52Ac. those being the extent of the iuctua-
lions in that time. There was nothing of
a disturbing character in the early news.
Chicago received ninety-nine cars instead
of 10 estimated, but Minneapolis received
800 ears and Dulut 362, making together
at the two last-nsmed places 917, com-
pared with S3 on the corresponding day a
year ago. Out of g.. 1000 bushels shipped
from Chicago, the fact that 10000 bushels
of it was No. 2 red was thought worthy of
remark. Foreign markets were steady at
the opening. After maintaining for an
hour the mere shadow of business, there
came on the market a few more selling
orders than were able to be filled at the
current rate. Before 11:3O O'Clock Decem-
Der had declined TO 5l12c, which marked
another low-price record. May, from 57Ac
at the opening, declined to 56ssQ56hc.
These declines were followed by a quick
recovery of 12c per bushel. The reason of
the weakness was principally caused by the
receipts. which disappointed all hope re-
garding the prospect of any immediate re-
duction. Primary markets received a total
of over $4,000 bushels, it'll hipments of
only about 1850 600 bushels. An unauthenti-
Gated report that some Chicago wheat had
arrived at Liverpool in bad condition was
used by the bears. Bradstreet's visible
supply statement struck the market when
the price of December had recovered to
o2c, after the break referred to, but al
though 1t reported $780, 900 bushels increase
on both coasts. 1t did not materially affect
the market, which, in fact. made a still
shortly after its receipt. The market re-
NAMED firm during the last dour of the
session. December closing at 52Ac after
There was a good deal of inquiry for red
winter for shipment, but only $1,000 BUSH
supply increase was less than the 5.oO0.0O0
bushels expected, and this was a strength
ening factor at the finish. Corn opened
rather firm and remained so for an hour or
more. 1t yielded some when wheat was
taking its early header, but had begun to
engaged In its struggle with its own record.
Receipts, which were only seventy-ive
cars, instead of 100 estimated, were of some
encouragement to the bulls, and 155 cars es-
timated for tomorrow did not disturb them.
A purchase Of $500 bushels of No. 2 in
store at bc over the price for May deliv-
cry was made. May opened at 491bc, but
after an hours steadiness dropped to 4S7s6
49c. About half an hour from the close it
Receipts of oats were even more n1oder-
ate than the small number estimated yes
terday, the inspection to-day being los cars.
For tomorrow estimated receipts are l65
cars. The market was irregular and fol-
lowed wheat and corn. 1t was firm at the
opening. became weak and then firm again
at the close. the price of May resting at
S21c.
Rather a light speculative business was
transacted In hog products. and the feeling
was somewhat unsettled and prices irreg-
uiar. The receipts Of hogs were smaller
than anticipated with a slight advance in
prices. which caused a moderate advance
in produce. Offerings. however, were fair
and in sympathy with the weakness in
grain, prices gradually receded to inside
figures. Near the close a little more stead
mess prevailed with moderate demand for
shorts. Compared with last night. Janu-
airy pork and ribs are 2Ac higher and lard
unchanged.
Freights-Slow at 1c to Buffalo. Charters
to Midland at nc for corn and 1c for oats.
Estimates for Thursday: Wheat, 20 cars:
corn, 155 cars; oats. 165 cars; hogs, 5000
head.