The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-10-13
WHEAT AGAIN HIGHER
GREAT CROP DAMAGE REPORTED IN
BOTH AUSTRALIA AND INDIA.
Government Report Indicates @
Wheat Crop of Only 4l3.00G. 0G9-
Pork Gained 81 1-2c.

CHICAGO, Oct u. = December wheat
again reached the 70-cent mark to-day.
The strength came principally from
newed damage reported from India. The
advance was not held. however, December
closing with a gain Of 1sc. Corn advanced
1hc and oats lie. Provisions were unusual
ly active and strong, closing 22l2d321ac
higher.
Wheat opened at a slight decline from
the prices prevailing at close Saturday.
The government report indicated the total
winter and spring wheat crop to be about
413, 900 blu. That favored the bulls, but
the receipts here and in the Northwest for
the day We're very heavy to come from
such a small crop, and that stimulated the
bears. Liverpool was unchanged according
to the first cablegrams received, but Ber-
lin started the week at from IL marks to
"a marks advance. The opening transac-
tons for December were at from 6sa4c to
6s5Sc, as against 69c, Saturdays closing
price. and those were the lowest prices
during the day. The subsequent rise was
slow and stubbornly contested at first, for
there was much in the days domestic news
to encourage selling by all but the most
enthusiastic of the bull crowd. The for
eign news was, however. of a strongly
bullish flavor, except as regarded the ship
ments from Danubian and Russian ports.
those being heavy. The Indian need of
wheat was apparently confirmed by private
letters and by something more tangible,
more enga gements of wheat at San Fran
cisco for shipment to India. San Francis
co wired that England Australia and In
dia were all competitors for wheat there.
All cable offers of -four by local and Min
neapoliS nlillerS were accepted. Later ca
bles came surprisingly firm, Paris and Ber-
lin closing with almost boom, and Liver
pool also closed strong. The receipts mere
were 50l cars. Minneapolis and Duluth got
1,709 cars, against 1868 the preceding Mon
the year before The visible showed an
increase of 2,31S090 bu, compared with an
increase of 2,649 900 on the similar week of
the year before. Liverpool stocks, which
We're very small before, are 10000 bu less less
than they w were a week ago Gorr I haa
fore the close, but the inevitable selling to
realize profits caused a 1c reaction, and at
the close 691sc was the current price.
Corn was in no need OF assistance from
the wheat pit to keep up Its end or the
bull campaign which IS now on. FoIeign
orders for corn, both on the spot and fu-
the market was active all day. May
opened unchanged at 2lasc, advanced TO
2SHc and closed firm at z73ac.
In oats quite a, good business was trans
acted There was a fair demand from
shorts, but the strength came principally
from the advance in wheat and corn. The
market followed those grains in the last
hours reaction. May opened unchanged at
201ac advanced to 205ac and closed steady
al 203ac.
Provisions were strong and active as
grain and did not, like the latter, lose the
larger proportion of their advance before
the end of the session, last prices for pork
lard and ribs being at the top figures and
of the days range. Packers were prom
inent buyers. and there was consider
able stop loss buying: January pork
221sc higher at s4271a: January ribs, 2219c
higher at $4.10.
$40 bu; corn, 1875 bu; oats, 6S5 cars; hogs
q. 600 head.