The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-26
WHEAT ADVANCED 1 5-8C
DECEMBER SCORES A GAIN IN THE
FACE OF BEAEIsH REPORTS.
strength Felt I'm Other Grain Mar
kets. Both Corn and Oats Closing
Eigher-Pcrk Unchanged.

CHICAGO Sent 25.-In the face of news
suggestive of a decline rather than of an
advance the price Of December wheat
showed 1850 advance at the close. To the
strength displayed by outside markets lat
or in the dav is the advance principally
due. Other markets were fiat. Corn closed
a shade higher. oats 14e higher and pro-
visions unchanged to &C lower
The cable news this morning rather
grated on the susceptibilities of the bulls
in the wheat market. The early cablegram
quoted Liverpool as opening unchanged IN
price with tedency to decline, and some
dispatches received a little later even re-
ported prices I'D lower That was all that
was needed to create some weakness mere
December, which closed yesterday at 6514c,
opened with sellers at from 6514c down to
647Sc, and the latter price became the point
from which the bulls and the bears made
alternate drives at each other during the
first hour of the forenoon. 1t had dip to
e45sG64a4c in the first forty minutes and a
reaction to 651sc. Minneapolis and Duluth
received 722 cars, against SAL on the CORE
spending day of the year before. The
general tenor Of the advices from Mime
apolis however was that farmers deliv-
cries in the Northwest would be much IN
creased next week. The export clearances
for the day from the Atlantic ports
amounted in wheat and flour to 222, 900 bu-
Those in the crowd who had been tempted
by the apparent weakness of the market
in the first hour of the session to sell some
wheat short became uneasy and began
gradually to buy it back. Not finding 1t
easy to do so, their anxiety increased until
every one wanted wheat and rapid ad-
vance from 6fl&c to 671Sc followed. pri-
waite cablegram quoting Liverpool Id lower
had helped to depress the market and When
the public closing dispatch was received
quoting / shilling advance in price of -four
and wheat only from lad to 12d lower for
red, that did much in creating the reVulslon
of feeling. ST. Louis was the first to give
indications Of recovery reporting that cable
bids there were no lower than yesterday
and that the feeling was gaining -, IN
strength and they sent buying orders. The
Northwest also advanced 1c or so. Prices
ruled strong to the close, December clos
ing at 611sc
Corn was quiet and weak, chiefly infiu-
enced by the feeling in wheat. There was a
good deal of liquidation and short selling,
resulting in an early decline. This was re-
covered later, as wheat climbed upwards,
and the close was steady at practically I'M
changed prices. May opened unchanged at
2514c, declined to 24$sq2f7sc and closed
steady at 2514 lI253sc.
A quiet market in oats was apparently
almost entirely governed by wheat. After
an unchanged opening. the tone became
weak and a slight decline followed This
was recovered later, the closing being at
&C duNdiLCS. 1hdy OpcIlSd uLS1lc1iISSb at
19Ac, fuctuated between 1880 and 1890,
closing steady at 193s01912c.
Trading was only moderately active in
provisions Offerings Were quite free and
this, with the easy feeling manifested by
grain, caused a decline after the opening.
During the latter part of the session the
feeling was stronger in sympathy with the
reaction in grain and a greater portion of
the decline was recovered January pork
closed unchanged at S7.171a; January lard
Csc lower, at Aloe; January ribs unchanged
at 3.5712c.
Estimated receipts for Saturday-Wheat
1z6 cars; corn, 1,039 cars; oats, 467 cars;
hogs, 1900 head