The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-10-16
WHEAT GAINED A CENT
FURTHER ENGAGEMENTS FOR INDIA
HELPED ADVANCE PRICES.
Other Grain Not sympathetic with the
lender, but Provisions Ffrmed
Up and Closed Higher.

CHICAGO, Oct. 15.-The failure of the
wheat crop in India, attested by the con-
tinued engagements for shipment to that
country, helped wheat to regain what it
lost yesterday and 4 little more too, De-
cember closing at 1c advance. The coarser
grains were not sympathetic. corn closing
unchanged and oats &c lower. Provisions
advanced 2120121ac. The strength of the
foreign markets was the main reliance of
the bulls at the opening of the wheat mar
ket. Chiefly on account of this December
opened at an advance of about &c, initial
trades being at 69s4q7Oc. Another matter
which helped the furtherance of bullish
sentiment was the comparative smallness
of the Northwestern receipts, which We're
reported as being S7 carloads, compared
with 1,150 a week ago and 1,270 last year.
Advices from the Northwest were to the
effect that a gradual diminishment of
farmers deliveries might be looked for.
The opening advance was not fully main
tanned, however, but. although there was,
soon after the opening and on several
subsequent occasions, lots of wheat for
sale, there were always buyers enough to
prevent a severe break. The lowest prices
of the day were reached soon after the
opening. The decline was due to the price
current report that wheat promised to
reach $50, 900. 600 bushels and to the con-
tinued selling by Armour. This feature was
very prominent again to-day, but the readi-
ness with which his brokers disclosed his
name created Il suspicion that the selling
was more to break prices than to get rid
of his wheat. But it was of sufficient in
faence to force December down to 1910.
Then the influence of the foreign news be-
gan to be felt again. Liverpool, which
opened at a kd advance in the face of
x-crtN ~lo -, 1891 I~~. A--. 49,
rise later, closing cables showing an aid
vance for the day OF Id to lad per, Genital
for American wheat. Paris; Antwerp and
Berlin also quoted advances and
advices from San Francisco said
that that Sd advance per quarter had
cutta: Still another motive for buying was
found in the heavy exports from the At
equivalent OF about 6o0, 900 bushels. That
included 165, COO bushels of wheat from New
Orleans. which was cleared yesterday, but
not previously reported. The price of De-
cember gradually recovered to 1oAc, and
during the remainder of the session held
Of &c from the price. hut winding up
strong with a squirt to 703sG 7012c, where it
lures of the days news was the reported
taking for export at Minneapolis and Du-
luth together of about 10000 bushels.
Corn was quiet and weaker. The demand
for the cash article YVES good, however,
both for shipment from here and at New
strong wind-up of the wheat market that
corn looked like maintaining yesterdays
closing price. Considerable realizing was
done by longs. whose holdings showed a
satisfactory profit. May opened about 14c
lower, at z77s@ 2S1sc, declined to 271ac and
price.
Oats sold lower on account of liberal
offerings, also in sympathy, with the early
showed a portion of the loss regained and
only Il sight drop from yesterdays clos |
ing prices, the recovery being due mostly
to sympathy with wheat. May opened
unchanged at 20M@207sc, declined to 202sc, |
and recovered to 2GAc. where ii closed.
Provisions had a firm undertone and soon
recovered from the opening decline caused
by q weak hog market. There was a no.
demand prices rose steadily The close
was at top prices. January pork closed
121ac higher, at 1921; January lard, 2bc
higher. at 40; January ribs 10c higher,
at $3.Sal2.
Estimated receipts for Friday: Wheat, |
25 cars; corn, 975 cars; oats, 445 cars; hogs,
PC. COO head.