The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-10-09
WHEAT CLOSED HIGHER
JUMPED ANOTHER CENT AT CHI
CAGo ON BUYING BY CUDAHY.
Weaker Market Early in the Day Was
Overcome Later-Corn and Pork
Both Made Advances.

CHICAGO, Oct. s--The taking hold of
the wheat market again to-day by big OPP
orators and the confidence inspired by their
action was largely responsible for an adj
vance Of 1c in December to-day. All the
other markets were firm. Corn advanced
&c. oats nc and provisions 21z971ac.
Wheat for about an hour after the open
ing continued to evince preference for
lower prices. The starting transactions in
December were at 6712c down to 67ssc, about
&c below the previous days closing prices,
and 671sQ6714c was sFfon reached. The rea-
sons for the weakness were two-fold. The
Liverpool quotations at the opening were
below yesterdays closing figures. and the
Minneapolis and Duluth receipts were again
so heavy as to afford those who were in
clined to magnify the size of the spring
wheat crop with a plausible argument in
favor of that contention. The receipts at
those points were 1.150 cars. compared
with l. 20S last year. But after holding a
short time around 6714c the market made
a sudden splurge and before the advance
was checked the price had gained nearly
112c. The late Liverpool cables came I'D
higher. The indications point to larger
clearances from both coasts, and there was
talk of further heavy imports of gold,
which was expected to exert a favorable
ness generally The most stimulating in
fluence was the discovery that Cudahy,
whose selling of late has been the chief
stumbling block in the way of the bulls,
had changed his tactics and had become an
active buyer. Most Of the brokers sup
posed to be acting in his interest were
active, and the purchases for his account
gated at least 2000,000 bu. The market con-
tinued to develop, strength during the last
hour. The bullish influences were the
continued buying by Cudahy, the poor out
look for the European crops compiled
by Reerbohm and the increasing fright of
the shorts. December finally sold up to
6S1se, but did not hold all the advance. Re-
alizing sales caused reaction to 6S5s Q6S34c,
where the market closed.
Corn was firm most of the session and
sold 12c above the close last night The
local receipts We're about 1l5 cars below
good advance in wheat. The advance in
rates from Kansas and Nebraska points.
gfPfg a into effect vey shortly was another
at 2sc. and advanced to 26lzc holding
steady at that price to the close.
Oats opened at very near yesterdays
closing prices, sold up ssQ1ac in sympathy
with wheat and corn, reacted a trifie UNI
der the same Influences, but closed firm and
higher. Trading was only fairly active,
and the aggregate business but moderately
heavy and mostly scattered. May opened
at 19$sG191ac. fuctuated between 1890 and
1880 and closed at 1850.
PROVISIONS got another strong start be-
another small run predicted for tomorrow.
A great deal Of business was done in the
pit. Armours buying Of lard was the fea-
about 5000 tierces The big demand for
cash product is. of course, at the bottom
OF the speculative streng d January pork
.021ao higher at 4.40644215c; January ribs
.o71Ac higher at 3721k93.75c
% 900 head.