The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-11-06
NO SUPPORT FOR WHEAT
WEAKNESS STILL APPARENT AND
CHICAGO PRICES OFF $50.
Decline in the Leading Cereal
visions Scored Losses.

CHICAGO. Nov. 5.-Wheat had a further
decline to-day of sc for December and &c
for May. The market was still suffering
from the effects of the sharp break of yes
terday, and was at times almost totally
without support. Corn and oats, strong in
themselves, suffered from the extreme de-
preston in wheat and closed at small de-
clines Provisions had the smallest trading
for months and showed irregular declines
at the close.
There was a great contrast between the
wheat trade of Thursday and that of to-
day. Yesterday the trade was puzzled by
the remarkable changes and could scarcely
keep pace with all the news at hand. To-
day the pit was stupid. Opening trades in
December ranged from 941sc to SAC or va
&c above yesterdays close. There was some
December for sale early, but nothing like
the offerings yesterday. They were suffi-
cient, however, to cause decline to 92a4c.
This was followed by a decline to $3.50 and
another decline to 93Ac May sales were at
912lc, to Gle, to 9112c, to 907sc, and held at
91Ac, or 3sc under last night. The market
weighted itself without any display of sup
port by the clique. Liverpool was firmer
than expected at the opening at only AQ12d
decline Paris was up little and firm. The
strength of the foreign markets was the
factor in the small opening advance. Chi
cago receipts were 144 cars, against ninety
seven last year. while Minneapolis and Du-
luth got 949 cars, compared with 6S4 year
ago. In addition to the rail receipts at Chi
cago another cargo of 5O,5S9 bushels of No.
/ Northern spring was inspected into store
The primary market receipts were 1,155, 900
bushels compared with only 7Sl,O0O bushels
Of bafo
Minneapolis wired wheat stocks will in
crease 100000 bushels for the week Du-
luth claims a decrease of 100000 bushels.
The bulls have little to hope for in the Wis
ible supply outlook tor Monday The off,
cial board showed $4,000 bushels Northern
spring inspected from lake or canal. 1t also
showed $4,000 bushels transferred for pr-
waite houses. The break in New York
stocks on the uneaSineSS over Cuban mat
tiers helped weaken the market. AS for
days, the best bull point was the heavy eX-
port. Wheat and flour clearanceS from five
ports were $4,000 bushels on top of 762 900
bushels yesterday. Private messages gave
900 bushels of wheat cleared at Galveston.
The st. Louis claim that the Missouri re-
port makes the wheat condition 81 and
acreage "a per cent short had no influence.
After midday there was a return of the
early heaviness. December settled down a
little to S2$4c, and May sold at 9012c. New
York claimed thirty-fve boatloads worked
for export The market became a little
frmer near the close, december rally1nS TO
$3.50 and May to 9034Q907sc. Those were the
final prices.
Corn was extremely dull and rather weak.
Local conditions rather favored higher
prices and caused some advance during the
morning. Receipts were light, being 3OS
cars. Atlantic port clearances were $4,000
bushels. The rains We're expected to still
further curtail the movement from the
country. The weakness of wheat ultimate
ly prevailed, however, and moderate liqui-
dation caused prices to touch the lowest
price for two months. December ranged
from 263sc to 25%c and closed 1sQAc lower,
at 257s026c.
Oats acted in much the same way corn.
Buying orders were quite plentiful for a
time after the opening, and prices were firm
and slightly higher. Longs hquidated later,
starting a reaction on which there was free
general selling Cash demand was good,
thou~h smaller than of late Receipts were
244 cars. The weakness in wheat was the
factor in the decline. December ranged
from 1870 to 1914Q19ssc and closed &c lower,
at 192sGt19hc.
Provisions were very slow, outside trade
being almost altogether lacking. The mar
ket was weak Influenced by the heavineSs
of grain markets. The opening was steady.
but little pressure to sell developed and
as no support was given prices gradually
the close December pork was 121an15c lower,
at S7521h6755, December lard 22@5c lower,
at $420GI42215, and December ribs &c lower,
at 81 42b.
Estimated receipts for Saturday-Wheat,
100 cars; corn, $40 cars; oats, 275 cars; hogs,
20 900 head
Leading futures ranged as follows: