The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-10-27
WHEAT'S QUICK CHANGE
FIRMER MARKET AND PRICES
CLOSED 1 1-2C HIGHER ON THE DAY.
Corn and Oats Advance Fractions on
sympathy with the Leader
Provisions Declined.

CHICAGO, Oct. 26.-Wheat changed front
on several occasions to-day but December
was 11bc higher at the end of a wobbly ses-
sion. May, however, was only &c higher.
There was considerable closing out of short
December contracts and taking on Of May
to account for this. Approaching cold
weather and the small Northwest move
ment were features in the general strength.
Corn closed Ac higher in sympathy with
wheat, and oats advanced A0sc. Provi-
sions were heavy and declined about nc.
Wheat was weak for about ten minutes
after the opening, and then, without any
thing outside of the condition of the local
speculation, it became firm and advanced
1Bc from the lowest point. The trading
during that time chiefly in December,
and to that future was confined the adj
vance. The opening weakness was because
of further ed decline at Liverpool and
plentiful rains in Nebra ska and Kansas. On
the other hand, receipts were light. Chi
cago received 1856 cars, against 3S7 a year
ago. and Minneapolis and Duluth reported
997 cars, compared with 1,1SO a week ago
and 1918 cars the corresponding week of
last year. The quantity inspected out of
store was 900 blu, and of the days re-
ceipts only eleven carloads were contract.
One feature of the days trading which had
marked effect on final figures was the dis
position to cover December shorts in wheat
and to put them out for May and as a re-
suit of this the spread between those two
months widened to 25sc. The contract stocks
for the week at Chicago show an increase
OF only $4,000 blu. Clearances from Atlantic
ports were equal in wheat and flour to 645,-
O00 bu and reports from the Northwest
xya In hui
falling off in farmers deliveries at country
stations. A weakening feature during the
forenoon was a reported decline at CONT
mental markets, but when the public cable
grams giving the close at Paris and Ant
werp came to hand it was found that re-
auctions were not as heavy as had been
privately reported. The rain in Kansas and
elsewhere Of the day before was said to be
spreading in this direction. but it was to be
accompanied or Immediately succeeded, by
much colder weather This augured no
good to the beated crop, and caused some
buying. The receipts at primary markets
were very close to the quantity on the same
date the year before To-day there were
l,6lSeO blu; last year. 1,173,00O bu. Brad
| streets report of the worlds visible made
an Increase since last week of 1913 900 blu,
$4,000 bu of it on this side and 2400,0 600
bu in and afloat for Europe. That caused
one of the weak spots III the days markets,
but the bearish impression to 1t was
of short duration. The market grew quite
strong towards the close. st. Louis report
cd that all the contract wheat there, about
a quarter of million blu, had been ordered.
The local crowd had got short. and when
1t attempted to cover there was very little
for sale. December opened about I'M
changed at from 9S13c to 93Ssc and declined
to 93c. 1t rose afterwards to 941sc, fell back
to 931zc and near the close rolled up again
to 9414c, closing at 942sGS415c. May ranged
from 90Ac to 91Bc and closed at 91Mc The
gain for the day in December was lie and
for May only 1sc per bu.
Corn was very dull and the slight 1uc-
tuations of the day were caused principally
by the movements of the wheat market. AS
the latter was firm in the end so was corn,
which closed with a net gain of Ac. The
predicted cold weather caused some buying
on the theory that 1t would check the coun-
try movement Receipts were 531 cars. Ca
bites were AMssd lower December ranged
from 257sI26c to $3.50 and closed at 25Bc.
Oats were firm, partially through SYM
pathy with wheat and corn, but mostly on
account of the excellent cash demand. This
sustained the market even during the weak
spots in other grains Elevator concerns
were good buyers. The visible increased
S21 600 bu. Receipts, $40 cars. December
ranged from 1880 to 18Q181sc, closing about
Nc higher at 1890
Provisions were heavy from the same
cause that has been weighing on the market
for long time past. Too many hogs was
also. a continuing scare cry of the bear
traders The Cudahys were sellers, par
ticularly of January ribs. Offerings were
not heavy, as rule but there was no de-
lower at $775 December lard about TIC
lower at A221a64.25 and December ribs TIC
lower at $40
Fascinated receipts for Wednesday =
Wheat, -; corn, 425 cars; oats, 200 cars;
hogs 46 600 head.
aadinp futures ranged as follows: