The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-10-09
THE FATAL VISIBLE
INCREASE OF OVER 100000 BUSH
ELS DEMORALIZED WHEAT.
All Cereals Started Strong. hut Tum-
bled with Weakness I'm Wheat
Provisions Also Suffered.

CHICAGO, Oct. S.-The wheat market
was strong to-day until the visible supply
statement was received. When over 2,00o.-
W0 bushels was found to have accumulated
during the week the market became weak,
closing with all the early sc advance gone
and Ac per bushel besides. Corn opened
strong and closed weak and Ac lower for
May. and May oats closed 1sc lower. Pro-
visions also finished at a decline.
Wheat opened strong at from SAC to
Size for December, and from $3.50 to 59Ac
for May. The former sold as high for a
moment as 545sc and May at 60c, after
which the tendency was downward for a
matter of two hours. AT n:30 O'Clock De-
cember was down TO SAC and May to 594c.
The visible supply statement had been re-
ceived, and during the time the figures
were being received their bearish indica-
tons was the cause of the declining ten
dency of the market. The final result, CIV
ing an increase of 2,2O 900 bushels. where
some had looked for less than 5000 BUSH
els, settled the contention over the mat
ter of the visibles in favor of the bears.
The price of December fell a little lower,
53Isc becoming the current price for half
a minute or so about II o'clock The rea-
sons for the firmnes Of wheat at the OPEN
ing were the decrease of 1,072.0 bushels
in the quantity on ocean passage, and the
firmness of the early English cables. Liv-
erpool reported American spring and win
ter wheat from I'd to 1d higher. and Ar
gentine cargoes were quoted cd per quarter
over previous quotations. Indian pine
at $4,000 bushels. The remainder of the
days routine news was rather bearish-
Continental markets were reported easier.
The northwestern receipts were heavy,
M pnQanNlS and Dulnth rpfurpinU 1 0-e
carloads. The total at primary markets
was 5000 bushels, including what was re-
port clearances since last reported amount.
ing to 365, 900 bushels, only $1,000 bushels of
which was in the shape of wheat. Regard
ing exports of flour, the Northwestern
Miller remarked that a considerable pro-
portion OF present shipments are merely
consigned. Selling became quite general
think of what might be the effect on prices
should Bradstreet tomorrow discover o.
dition to that in the official statement to-
day. December sold OFF TO $3.50 and closed
at 5Ac.
The corn market was strong at the begin
ming and weak toward the close. The re-
ceipts, although somewhat heavier than
the estimates, were only 70 carloads. There
ocean passage and a decrease Of 400, 600 in
the visible supply. The total of the latter
is now s:so6 1000 bushels T5s s., against ds ~, $50 s;r 900
trading was the bidding up Of the Octo-
Der delivery from SIC to SAC per bushel.
but the principal buyers of that delivery
were the most diligent sellers of May at
that time and up to the close. May opened
strong at 51%c and sligo bid, with 51Ac
paid for a little about the same time. The
demand was quite brisk at around those
prices for about an hour, the price touch
ing 517sc for an instant. The weakness in
wheat near the end encouraged short sell
ing, and prices, which had begun to decline.
began to give way more rapidly and the
market in the end became very weak. May
October. which sold early at 537sc, and with
that price bid at one time. declined to
51&c and closed at 5l7sc.
Business in oats was quiet. The huctua-
tons were governed entirely by the corn
market, opening hrmer and selling off later.
Norton-Worthingt ton at the opening bought
quite freely, comparatively, and later on
In the day Carrington-Hannah sold some.
May started Hc up from SATURDAYS closing
price, at 3414c, sold at 34sQ349c, and de-
c.ined to $3.50, where it closed.
Provisions in a general way followed the
lead of the wheat and corn markets. They
were strong at the opening and We're weak
at the close. Hog receipts were about as
had been expected. and there was no inn
tomorrow are very moderately placed at
1900. January pork started at $3.50. and
sold off to Sl2.6712 at the close, or &c de-
cline since Saturday. Lard opened with a
gain Of Csc and closed with the advance
lost and without change since Saturday.
Ribs rose .0l12c and fell .02i3c, making a net
loss of Csc.
Freights steady at 13sc for wheat, 1Ac for
corn and 1lsc for oats to Buffalo.
Estimated receipts for Tuesday: Wheat
81 cars: corn, s. cars; oats, LIS cars; hogs,
1900.