The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-11-05
WHEAT CLOSED UP 11-2C
ELECTION CAUSED A GOOD JUMP IN
LEADING CEREAL AT CHICAGO.
Other Grain Suffered More than the
Leader on Heavy SellinE-PrOvi-
sfOns Declined.

CHICAGO, Nov. All the speculative
market suffered from the selling of trad
ers who had loaded in anticipation Of the
election boom. Wheat started with a rush.
but came down equally fast, closing at a
net advance of 112c. The other markets
suffered more, corn declining &c, oats 1sc
and provisions from 2hc to 15c.
Two factors were influential in causing
the strength with which wheat started. One
was the result of the election, which was
very satisfactory to the majority of trad
erS, but there was much legitimate
encourag cement in the fact that the early
Liverpool cables showed an advance there
since Monday of over &c per bushei. The
continental markets were also higher. De-
cember, which closed at 75c on Monday aft
ernoon, could not be bought at the start
for less than nc, and sellers were able to
obtain TIC in two or three instances. In
five minutes later it was down to 16Ac,
again inside of ten or twenty minutes it
was bringing TIC. All outside markets
felt the enthusiasm Of the moment and
started off with an upward leap. Advices
said that California wheat had already ar
rived at Calcutta, and added that 1000, 900
bu had been taken at San Francisco for
India %account. But on the advance the
selling quickly assumed enormous proper
tons. that part of the crowd which had
gone home Monday confident that the cleo
ton returns would be satisfactory sold
heavily and took profits at the advance.
New York was the heaviest seller, and 9TH
er large commission houses had selling or
ders. Bake and others OF the bull clique
sold, though this was doubtful. But there
was enough for sale to start the market
OFF. A short break Of I'd In Liverpool be-
fore noon, equal to 22 cents per bu, &C
CELEBRATED the decline. During the last hour
the highest price Of the day; this was due
TO the much smaller increase In the worlds
stock. as reported by Bradstreet,s. than
the trade had expected, it being only $780,
600 blu. December reacted to 77tsc, but
there was sufficient selling to cause a de-
cline to 761ec before the close.
Corn was quiet and kept within a narrow
margin. Liverpool prices showed a sub
stantial advance, and this, with the
strength of wheat, started corn strong and
higher. Realizing by those who loaded up
before election, and a fair amount of short
selling, brought about a slow decline. May
started about &c higher, at 2sa2s14c. sold
down to 299sc, and closed at 29s4c.
Oats followed much the path as corn.
The opening was at a slight advance. but
. realizing by spectators VINO had bought
in anticipation of an advance after election
soon brought prices down again. May
opened about &c higher. at o2AQ221ac, de-
clined to 217sc, and closed easy at 2l7sg
&c bid.
Provisions were dull after the first few
minutes of trading. Opening prices were
~irregular advances on outside buying or
ders, but lower yard prices and selling by
packers on expectation of large hog runs
caused a heavy decline. The closing was
easy at bottom figures. January pork was
121ac lower, at s.. 40: January lard .15c lower
at 4.42lac; January ribs .O2l2c lower, at
ESTIMATED receipts for Thursday-Wheat.
10 ears; com. Go cars; oats, 4S5 cars; hogs,
1000 head. -lc
Leading futures ranged as follows: