The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-11-19
OATS LED THE MARKETS
PRICES BOOSTED BY EFFORTS OF
SHORTS TO SAVE THEMSELVES.
Wheat Remained Strong Until Near
the Close, when Rush to Sell
Sent Prices backward.

CHICAGO, Nov. 1S.-Oats again led the
grain markets to-day. Efforts of shorts to
get from under boosted the price of that OPP
ton &c, while May declined A@ssc. Wheat
was strong early but broke sharply late in
the session and closed ssqAc lower. Corn
closed unchanged for December, but Nc
lower for May. Provisions were firm at
shade better prices at the close.
Wheat opened weak and from &c to sc
lower for May and &c to asc lower for De-
cember The reasons for the weakness were
from widely separated sources. There was
but A@3sd advance at Liverpool a distinct
disappointment in view of the fact that 1Ac
was added to the price here yesterday. The
Cincinnati Price Current was rather bearish
in this weeks crop summary. Owing to
mistake in the May quotations from San
Francisco it was made to appear that wheat
for that delivery declined 715c per Genital
yesterday That startling show of weak
Eess was supposed to be due to poor ex-
port demand or some Unexpectedly heavy
Pacific stocks, but these figures were after
ward corrected to show that the price had
in reality advanced 11zc, and considerable
buying was inspired by the correction. Oats
got on a rampage about the same time, and,
remembering the effect of yesterdays furry
in that maket, the buying of wheat was all
the more vigorous. May wheat opened at
from 90ssc to 909sc, as compared with yes
terday's closing price of 9Os4Q9O%c. During
the first few minutes trading the
price settled to 9014Q90asc. Then the
market started on a recovery which re-
suited in an advance to 9lSsQ9112 by noon.
Receipts az Minneapolis and Duluth were
918 cars, against $40 last week and ISL a year
ago. Chicago got 1873 cars, against 1876
week ago and SO last year. The Atlantic
port clearances of wheat and flour
good orders at the opening there from
English provincial ports. Another radical
change occurred in the sentiment of the
crowd without any fresh notifications OF
the general market surroundings. A
scalper from under what was feared was
about to become falling market precipi-
drop in the last twenty minutes of the ses-
sion, May falling to 90QS01sc and closing
weak at 901sc.
Corn was fairly active at times. May was
easy, Influenced by wheat, but the good
short demand for December, urged on by the
advance in oats strengthened the market
considerably and especially December. the
spread narrowed to 31HQSl3sc. The market
weakened toward the end in sympathy with
the realizing decline in wheat, but Decem-
price. Receipts were Ss4 cars Atlantic
clearanceS were 337, 600 bu. May ranged
from 3O1sQ3014c to 29a4Q2s7sc, and closed nc
Oats attracted as much attention as yes
terday and big business was transacted.
There was anxiety on the part OF December
shorts to get out and good buying by parties
anxious to increase in other lines, the re-
suit being higher prices in that option al
most from the start. The feature was the
reduction in the December-May spread from
NC at the close yesterday to, Sc today C
One prominent house took on about 2VOO,WO
bu December May did not show much
strength. Light stocks and good export
demand were the bullish factors. Receipts
were 29s cars. May, ranged fro from 22Ac o,1 to
22Ac, closing NQ$sc lower at N9sc. DeceIn-
Der, however, closed &c higher at 22c.
There was a fairly good trade IN pro-
visions The feeling was weak at the start
probably in sympathy with wheat. Com I5
mission houses seemed plentifully supplied
with buying orders and the demand from
this source, coupled with moderate buying
by shorts made a firm market the rest or
the session, though price changes Were
small At the close January pork was I'M
changed at $3.50; January lard unchanged
at $3.50. and January ribs unchanged at
81 27lb There were small gains Tor pork
and ribs in other futures.
ESTIMATED receipts for to-morrow-Wheat,
n cars: corn, $40 cars; oats, 2S5 cars: hogs.
5000 head.