The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-10-21
SMALL ADVANCE SCORED
CHICAGO GRAIN MARKETS RECoV-
ERRED FROM EARLY WEAKNESS.
Bearfsh Influences Caused Declines
Soon After the Opening, but
Rally Followed Later.

CHICAGO. Oct. 20--Weakness in the grain
and provision markets during the day was
succeeded by strength later on, and small
advances were chronicled all around. Wheat
was helped by renewal of the continental
demand for American wheat, December
closing SAC higher. There was a slight dis
position to play for a reaction in corn, and a
3sc advance was the result. Oats closed so
lac higher Provisions closed at small adj
vances for pork with ribs and lard SUP
stantially unchanged.
Wheat was steady at about yesterday
closing price a. and for few minutes after
the opening, and then it was subjected to
some bearish influences that caused it to de-
cline 1c bushel during the next hour. May
was not as weak as December during the
time referred to, owing, it is supposed, to
the action of the bull clique, which as on
the day before, sold December at or above
Ole and bought May when it was weak.
The comparative firmness during the first
few minutes was because of a further re-
duction in Northwestern receipts and stead
mess of Liverpool and Paris markets, both
of which quoted prices unchanged from the
previous days closings The bearish news
came partly from the Northwest and partly
from abroad. Heavy rains were reported in
Argentina. The Liverpool Corn Trade News
revised it's previous estimate of European
requirements, making the amount only r.
DOC, eco bushels instead of 12S, 00O,0 00 as pre-
Viously calculated. That had some depress-
ing effect, but more serious news was the
reported sale at Duluth of 200 900 bushels
No. l Northern wheat to Chicago for deliv-
cry on December contracts, which was
made possible by the higher prices ruling
here. This rather staggered the trade. De-
cember opened at substantially yesterday S
closing price, S01sQ9lc, and before the effect
of the Duluth transaction had worn OF a
decline To SV1sc had taken place. Chicago re-
ceiptS were 2U4 cars, or thlrty-tour over the
estimate. Minneapolis and Duluth reported
SS7 cars, against y2U last week and 800 the
corresponding Gay OF the previous year. At
lantic port clearanceS OF wheat and flour
were smaller than Monday and Tuesday, the
total being under 00O bushels. Brad
streets report on the world s visible showed
an increase of 4,271,0O0 bushels About II
O'Clock the market began to show signs OF
firmness. Sales were reported of two car
goes of No 2 red winter at Toledo and one
cargo at Detroit for immediate export to
the continent. This indication OF revival
Of the foreign demand encouraged local buy
ers and the price began slowly to mend.
December advanced to 9l12991asc, and was
bringing 9112Q915sc at the close.
Corn was steady even when wheat was
weak in the forenoon, and was very hrm
later when wheat advanced. There was con-
siderable buying on the theory that reac-
heavy decline Shorts were also numerous.
The foreign demand, which for two weeks
has been apathetic, was revived in force to-
day. The opening was a shade easier on the
liberal receipts-659 carS-and the lower ca
bles, but the decline was soon made up. The
visible increase was 2,4S0,0O0 bushels. Char
tiers were for 775,000 bushels. December
ranged from zee to 2512c, closing Csc higher,
at 26c.
Oats were higher and firm at the advance.
Trading was not important, the tlrmness be-
ing due principally to light offerings. New
York did considerable bidding all day. Ele-
vator interests were fair sellers early. AS
usual sympathy with corn was an important
factor Receipts were 242 cars. December
ranged from 1890 to 1850 and closed 1sqAc
higher, at 1S14@1Sasc.
Provisions were steady on a small amount
of business. The continued bad reports
from the yellow fever districts caused a
small opening decline. Shorts were good
buyers and the cash demand was consider
ably improved, which facts caused recov-
cry of the opening decline and a small adj
vance besides The frmness of wheat and
corn helped towards the end. At the close
December pork was sc higher, at $3.50; De-
cember lard unchanged at $4.3Ou43 212, ana
December ribs 215c higher, at $3.50. 80
Estimated receipts Thursday-Wheat, 23o
cars; corn GEO cars; oats, 2S5 cars; hogs, Si,-
900 head.
oodj,,o fu+,,rac ronced aS follows.