The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1894-12-05

CHICAGO, Dec. 3.-Bullish news on
wheat, principally from abroad, came in
with the first dispatches in the morning
and kept coming along all day. Short
sellers resisted the early attempts of the
buyers to put the market in line with the
news and for time very successful. but
they We're finally routed and the closing
price for May was at an advance of Nc
per bushel, while December rose sc. Corn
made the Insignificant gain of &c, oats
advanced &c, and provisions also ad-
vanced a little.
The opening transactions in wheat were
at a range Of from 607sc TO 603sc with a
gradual sagging tendency during the next
two hours although foreign markets were
reported firm and the Argentine crop CIV
ing a much poorer promise than the earlier
estimates. Exporters were reported 70
have bought about 100000 bushels of No.
red In New York at outports on Satur-
day and TO have paid . cents over the
price Of the December future for some of
it, They were also said to be again TAX
ing wheat freely in New York this morn
ing and that market showed more strength
all forenoon than did Chicago. The
Northwestern receipts were again heavier
than a year ago. That, and the prospect
of a larger increase in the visible than
had been generally looked for on Satur-
day, had a restraining influence upon the
local bulls during the forenoon, when the
visible was finally disposed of at an in
crease Of 12150OO bushels, the market
quickly struck the higher plane. The
seaboard sent a very bullish opinion.
New York wired that there was demand
for freight room for Liverpool at 112c per
bushel and for shipment into January and
said twenty boat loads Of wheat were
worked there and thirty-two loads at
Baltimore up to 1890 o'clock today. The
wheat on ocean passage increased 1.32S,OOO
bushels and the English visible supply de-
creased /. 426,000 bushels. 1t was generally
supposed that n. Il. Ream was a heavy
seller of wheat all forenoon. Partridge
sold probably 100000 bushels Of wheat
short during the forenoon. Closing cables
were very strong and so was the market
here near the end, about which time
seventy boat loads were the reported sales
for the day at the seaboard. May opened
IAc higher, as 60%c, sold from 6O12c to
6lbc. closing at 6l1sc.
The corn market had a narrow range to-
day, May selling at 1870 1850 as its
highest limit and 1850 as its lowest with
49l5c the trading point at the close. Re
ceipts today We're 440 cars, instead of 600,
as estimated, and of the total only six
tccL SdIS WC.V vi NV
visible supply increased 1.O26.OOO bushels,
against a decrease for the similar period
last year Of 600 bushels.
Aside from a firmer feeling and a fair
local business the oats market was de-
void Of features. Buying orders possibly
@exceeded those to sell, and taat, with
flrmer feeling In corn. caused prices TO go
up slightly May, after opening from
32Ih6325sc TO 325sc. closed at 32%c.
The provision market was dull, but firm.
Trading was chiefly confined TO ribs until
near the close. when lard and pork came
I'm for a larger share Of attention. At the
close January pork was up 1Oc and May
15c for the day. Lard gained 2l2c and &c
respectively for January and May. and
ribs SC for both deliveries
Active demand for vessel room, rates
PC higher at &c for corn TO Buffalo and
Port Huron.
The leading futures ranged as follows;