The Indianapolis journal., 1896-11-25
MAY WHEAT 1 1-2C UP
SMALL RECEIPTS AND FOREIGN DE-
M.ND TIE MAN INFLUENCE.
Estimated that Europe VIII Need. IT,
100000 BCshcIs, Nonthly-Other
Markets Weaker.

CHICAGO. Nov. 2i-wheat had all kinds
of statistical support to-day. which bene-
fitted the cereal to the extent of 1Jkc ad-
vance in the May options. Two of the big
features were small Northwest receipts and
estimated European requirements from this
country of 100000 bu of wheat per month
for some time to come. Other markets
however, failed to follow this lead, corn de-
clining &c. oats advancing kc and provi-
sions declining 5d71ac.
There was a fair underto le from the
start, although the news was not especially
exciting nor unusually bullish, but senti-
ment was apparently friendly to the buying
side. The first Liverpool cable quoted the
"consumptive demand disappointing" al
though quotations were 14d higher The
opening strength came altogether from the
Northwest Minneapolis and Duluth re-
ceipts were only 5S2 cars. compared with
s2S a week ago and 1,101 on the cor
responding day of the year before. Chi
cago receipts to-day were eighty-three car
loads; year ago they were 4Ss. Here, at
last. was something tangible as to the real
situation in the Northwest. 1t gave sup
port to the assertions that only one-third
of the crop was left in primary hands
and traders We're not slow to recognize this
fact The second cables, however (which
showed a Ad decline, rather put a damper
on the spirits of the Spectators and a
sharp though Temporary decline. followed.
SO1sc, as compared with yesterdays closing
price of SOl2c. and decline to S0Lc fol-
lowed. dispatch from New York, which
quoted December wheat at Liverpool Cd
per Genital higher than it closed yesterday
caused a sudden jump in prices. Although
this was soon known to have been a gross
hlun1pr Of an n mn 1lx,
sensational character had meantime been
received and kept up the advance which
had been started. The worlds visible was
reported to have increased only 142l 900 bu
there having been an increase in and afioat
for Europe of 2,224, 900 bu. and q decrease OF
1.197000 bu on this side. After this an.
risen to size, advanced quickly to S2kc.
Another item of great strength was the
the United Kingdom and continent of Eu-
rope would require from this country Il, ,000,-
600 bu per month until July l. The result
of this was further advance 10 S2Ac. Near
the close q reaction to SlsuS2c followed,
principally from profit taking. At that fig
ure the market closed
Corn was heavy and inactive, and with
about Ac below the closing prices of the
previous day. The great strength in wheat
did not do much TO influence 1t, unless in
the way of preventing more material de-
cline. The demand for shipment East was
said TO be disappointingly small and was
one chief reason for heaviness. May start
ed unchanged at 27HM2IHc and gradually
sagged to 267sc, closing easy at 27Gl271sc.
In oats only q scattered interest was GEN.
tered in business. The market was dull.
An easy feeling existed early, but at the
close prices were steady to a shade better
than given at the finish yesterday. May
opened a shade lower. at 22a221sc. sold to
224c. and closed steady at 22lsc.
Provisions were firm for a while In the
forenoon. helped by q comparatively small
run of hogs, but the desire to buy was
ffcE En1 hx- hn oh nplic cI
houses also sold and the market gradually
declined, Notwithstanding the fact that
wheat was advancing sharply at the time.
May pork closed TIC lower, at S7.97ta; May
lard about &c lower. at.s4.25; May ribs about
sc lower. at $3.971sQ4.
Estimated receipts for Wednesday
Wheat. 10 cars: corn, 140 cars: oats, 135
cars; hogs. 200 head.
Leading futures ranged as follows: