The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-10-29
CHICAGO WHEAT HIGHER
ALMOST FOUR CENTS ADDED TO DE-
GENDER SINCE MONDAY.
Foreign Traders Covering and Light
err Receipts in This Country
Provisions Barely Steady.

CHICAGO, Oct 2S.-Wheat added an
other lssc to its price to-day, a total of sac
since Monday. Shorts were driven to cover
by the reports of short stocks in Europe
and the Northwest. A nervous but in the
main very strong market resulted Corn
was helped by wheat and light receipts,
closing Ease higher Oats advanced "a
SC Provisions were almost at a standstill
and closed at substantially unchanged
prices.
The absence of demand for No 2 spring
wheat except at discount of from SC to sc
under December price, which was made so
much of by bearishly inclined spectators
near the close of yesterdays session was
still occupying the minds of the traders to-
day when the session opened. Liverpool
was only from sd TO I'd over the closing
prices of the day before, and Paris was 10
confines lower. This caused a rather weak
feeling at the opening. December, which
closed yesterday at 957sc started to-day at
from S5Ac to 9515c and sagged off to 951sc.
Quite sharp rally ensued when Mime
apolis and Duluth stocks were shown to be
only 1886 COO bushels, as compared with
20 512 900 last year, December selling up to
961Ac under a general demand from shorts;
but their wants satisfied the market be-
came easier and showed a sagging tendency
during the rest of the forenoon. The pur-
chase Of another 100000 bushels of Duluth
wheat to come here contributed to the
downward reaction, which carried Decem-
Der down to 951ac There was plenty of
news to encourage buyers. The drought
east of the Mississippi was unbroken yes
terdays news about serious drought dam
age to the Australian crop was confirmed,
and domestic receipts We're moderate. Chi
cago received 146 cars of wheat, fourteen of
them contract, and eight of the latter from
local cleaning houses. Minneapolis and
Duluth got 939 cars against S54 Thursday
week ago, and 122l last year The Attain
tic port clearances were equal in wheat and
flour to 100000 bushels. New York reported
tho export demand for wheat light, but
Minneapolis advised a good business in
flour for export. New York reported the
days export trade at seventeen boatloads.
afternoon. Private cablegrams from Paris
reported stocks of wheat light everywhere,
and said that the position was almost en-
tirely in the control of America. Consid-
cradle buying was done on the strength of
these advices, and December advanced
steadily TO STAG, where it closed.
Corn was moderately active. The market
opened easy with wheat, but soon became
stronger and ruled firm for the rest of IT.
session. The better movement was ges due
to-day and small estimated receipts to-mor-
row. Offerings We're readily taken, several
of the large houses buying freely, which
started shorts to covering also. The strong
cash situation was factor. Cables were
I'd lower. Exports were 251,OO0 bushels.
December ranged from 2634c to 257sG26c,
closing 1565sc higher, at 265s026$4c
More interest was shown in oats Prices
were easier early, but advanced later un-
der sympathy with corn and better COM
mission house buying. There was a good
shipping demand and country offerings are
smaller. Receipts were 245 cars. December
ranged from 19c to 1SQ185sc, and closed
3-16c higher at 1850 bid
There was little life to the provision mar
ket Prices ruled a shade easier more
from lack of interest than from any bear
ish influence. Inquiry on shipping account
was quite active and offerings fair Hog
receipts were liberal. At the close Decem-
Der pork was unchanged at $7.7712; Deem
Der lard 21ac higher at $4.2219Q4.25. and De-
cember ribs unchanged. at $4.4712Q4.50.
Estimated receipts for Friday Wheat,
100 cars; corn, 40; oats, 22O; hogs, $1,000
head.