The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-10-18
WHEAT CLOSED FIRMER
SCARCITY OF OFFERINGS MADE AD-
VANCE OF &c IN DECEMBER.
Corn Remained Firm, but Unchanged,
with Oats Higher and Pro-
visions Slightly Lower.

CHICAGO, Oct 16.-It was a case of dog
eat dog in the wheat market to-day. From
the scarcity OF December offerings and the
quickness with which anything was taken
a badly congested condition in that option
was indicated The close was firm at a
1-cent advance Rains west and disap-
pointing Liverpool cables caused a slight
opening decline, the only weakness the mar
ket displayed. Corn was firm, but closed un-
changed Oats were a shade higher at the
finish Provisions We're weak, principally
from the yellow-fever scare, and closed so
1213c lower.
Wet weather throughout the greater part
of the winter and all of the spring wheat
territory, disappointing foreign markets and
a very marked increase in the wheat re-
ceipts in the Northwest confronted the
wheat trade at the opening. Though the
effect was partially offset by the surpris-
ingly large exports. for the week there was
nevertheless a general selling out of wheat
by timid holders, and the opening market
was lower December starting at from sic
to 91Ac, as compared with yesterdays clos
ing price of 91asQ91l2c. The weakness was
ShOrt-liVed however, as the lower prices
stimulated strong buying and caused rally
of 1c per bu in a very few minutes, De-
cember advancing to 92Ac The December
future, acts as though 1t were considerably
congested as it sold at 21ac premium over
May Bradstreet's reports showed wheat
and flour exports were equal to 6,O39,OW bu,
against 1886 600 bu a week previous and
A. ISL, 600 bu for the corresponding week last
year Revival of the old rumors that Russia
would prohibit wheat and rye exports ana
that France would abolish It's import DUTY
wheat created little bulish feeling
during the first hour, and December adj
vanced to 927sc while the news was circu-
lating. The Northwest receipts were LIS
cars at Minneapolis and Duluth, against 1l4O
week ago and 835 last year. The receipts
at all primary markets aggregated 1,2O2OO
bu, against 937, eco bu for the corresponding
day year ago Chicago receipts were l53
cars. Liverpool opened 3sd higher, but
closed only I'D higher for near months to
changed to 10 centimes lower for wheat but
10 to 40 centimes higher for flour,
and Antwerp quoted wheat unchanged to
121a confines higher. Despite the apathy
shown in their own markets, however, there
was evidence conclusive that the foreigners
were also buying literally to cover sales
abroad and the strong tone of the market
for ocean freights indicated that the cash
stuff was going out. The advance for the
owners of wheat to sell out their profits
rather than carry the property over TO next
week. The result was a slight reacuon
from top figures. December was selling at
9212c at the close.
There was fairly active trade in corn,
with shorts again liberal buyers. At the
opening the market was weak on the large
local receipts, 957 cars, the rains West; ana
poor weekly exports. There was a strong
advance in wheat, the market rallied sharp
ly. The inquiry dropped off toward the
close and prices sank again. large amount
of changing of December contracts to May
was done during the day. December ranged
from 2714c to 265sQ2634c and closed UNI
changed at 267sc.
The market for oats was firm on a de-
cdedly narrow trade confined mostly to
exchanging The tone, with the exception
of a little weakness at the opening, was
firm and prices ruled a shade higher. SYM
pathy with wheat and corn and a renewal
of cash demand were the influences Re
ceipts were liberal-419 cars, and exports
were over 200 900 bushels. December ranged
from 1870 to 1S12d1Sssc, closing shade
higher at 1S%c.
pit The market ruled easy early on the
lower hog prices and on the yellow fever
news. There was commission house selling
on a fair scale. The partial rally was s IN
sympathy with wheat but the general tone
was easier throughout. Stocks OF lard are
said to be under 100000 tiercesj ribs l3,UOOOO
hounds At the close December pork was
121Ic lower at SITS: December lard &C lower
at $4.271a, and December ribs lOc lower at
$3.50 - xxy1,oo+
PIC cars: corn, $40 cars; oats, $50 cars; hogS,
80 900 head. s.,,o-,-..