The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-10-26
WHEAT DECLINED 1 1-2C
MARKED WEAKNESS ON LIVERPOOL
CABLES SET IN EARLY.
Heavy Visible Increase In Corn
Helped in the Decline That Ex-
tended to All Markets.

CHICAGO, Oct 25.-A decline of nc in
the December option marked to-davs ses-
sion in wheat The market was staggered
at the start by the Liverpool weakness.
Every firm spot was taken advantage of
by holders to unload. The decline in corn
was a factor late in the day. Corn was
very weak on the huge visible increase, and
closed a cent lower. Oats declined sc, and
provisions closed 212Q5c lower on light trad
ing.
Wheat opened about 1c lower than 1t
closed Saturday, several causes contribut-
ing to bring about that radical change.
Liverpool quotations were AQ1kd lower to
begin with and Northwestern receipts were
heavy. Shipments for the week to Europe
were again heavy and considerably in ex-
cess of their estimated requirements. The
total quantity from all ports exclusive OF
India, was 100000 bu, against 9504,O0O bu
last week and 9,271, 900 bu the corresponding
week of the year before. Minneapolis and
Duluth receipts were 633 carloads, ], All of
which were at MinneaD polls and 222 at Du-
luth. Chicago receipts were 2S5 cars. Apart
from the heaviness of the days receipts,
however, the news from the Northwest was
very bullish. Estimates by good judges as
to the crop of the three principal wheat
producing States placed the total at from
100000 to 10000 900 bu, a considerable re-
duction from recent figures. London adj
vices were to the effect that France was
still bidding for native English wheat, but
that there was no more available, and Rus
sian wheat in London was said to have ad-
vanced from Sd to Cd quarter. The fluc-
tuations hung for an hour and a half on
the varying aspects of the visible supply
as the figures favored or disfavored larger
or smaller increase than had been estimated
saturday. The outcome of II was an in
crease rather Smaller than had been looked
for, the amount being 699, 900 blu, against an
increase for the similar week last year of
2,41L 600 blu; December touched Csc the
the announcement of the visible increase
figures The quantity on ocean passage In
creased 100000 blu. The exports from Allan
tic ports for the day were sos 900 bu as far
as heard from. Liverpool closed ssl1d
lower. A rise of centimes, or equal to
24c per blu, at Antwerp, was the occasion
of the advance in December and May the
middle Of the day. The opening was weak
at from 94c to 941sc for December, against
Saturdays close of Csc asked: 1t sold at
9S%c and from that up to 95c in a very
irregular way. Near the end of the session
it became very heavy, the extreme weak
ness of corn having some effects Longs
took profits freely on large quantities, ana
there was no inquiry for wheat for shipment
here or reported from elsewhere. The pit
filled with sellers, and the price dropped
to 93A@93asc and was sS1sc at the close.
There was no comfort for the bulls in
corn The market opened weak, with
wheat at a AQssc decline. 1t remained
near the opening figures until the visible
figures were posted, which showed an as
tonishing increase of 4,275,000 blu. This
makes the corn visible 600 blu, or more
than double that of last year. Offerings
were heavy after that. with very little de-
mand Receipts were 6lS cars-way over
estimates. Gables were AM3sd lower. Char
tiers none. December ranged from 269sc to
253sc closing 1c lower, at 25esc sellers.
Oats were lower largely the result OF
sympathy with corn. fairly good bust
ness was transacted There was fair de-
mand for December, but May was offered
freely, the consequence being a widening
of the spread between the two options. Ell
evator concerns were the principal traders;
Receipts were 1893 cars. There was a good
shipping inquiry. December ranged from
1S15c to 1Sc and closed ssc lower, at lSQ1S1sc.
Provisions were heavy to begin with on
the heavy receipts of hogs and It was kept
in that condition by the radical weakness
of corn The only sustaining influence was
a good cash demand. Trade was quiet and
declines were small. At the close Deem
Der pork was sc lower, at $7.S212; December
lard 21h15c lower at $4.3212, and December
ribs 2l5M5c lower, at $4.52ia.
Estimated Receipts for Tuesday-Wheat,
800 cars: corn, $50 cars; oats, 365 cars; hogs,
5000 head.