The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-11-16
CHICAGO MARKETS DULL
INDICATIONS OF ZERO WEATHER
PREVENTED WHEAT DECLINING.
Prices Practically the same as the
Close Last Saturday, Except for
Provisions, Which Fell Of.

CHICAGO, Nov 15.-Dullness was the
most noticeable feature of all the grain and
provision markets to-day, and, with the ex-
ception of provisions, prices did not change
much. Wheat closed &c higher, corn 1sc
lower and oats a shade higher. Provisions
suffered from liquidation and closed 71aG115c
lower.
For the first two hours of trading in wheat
the market was unstable, with a range from
9O5sc down to S9s4c. Opening strong at $3.50
9015c, as against Saturdays closing price of
90c, May sold for an instant at 909sc, the
high price of the day, then declined under
the only really heavy selling which took
place during the session to 8934c 1t rose
again to 9O15c, but by 11:30 o'clock had de-
clined to S9Mc. The chief reason for the
strength at the start was that Liverpool
was I'D higher, Notwithstanding the drop in
price at the end of the week here. There
were some other reasons, however, that had
more or less to do with it, The Weather
Bureau predicted unfavorable change.
Since Saturday it had been moist and mild
and generally about as helpful to a weak
plant could be wished at this late period
of the year, but the thermometer in the
extreme Northwest marked ten degrees be-
drop from recently comparatively high tenn
peratures in the winter wheat country was
the prediction for tonight The London
Times estimated the damage by frost to
the Argentine crop at 10 per cent. The re-
ceipts in the Northwest gave some indica-
ton of the feeling, the effects of smaller de-
liveries from farmers. Minneapolis, COM
pared with the Monday previous, had 1853
apol1s and Duluth were 1856, against 1858
the Monday preceding, and 259 the CORE
spending day of 1896. Chicago receipts were
113 against 81 cars last year but in addition
to rail receipts was cargo of 100 900 BUSH
els by lake. The total receipts at Western
primary markets were 1.457. 900 bushels
against l,O23,OOO bushels year ago. Atlantic
port clearances were 900 bushels in wheat
and flour. The quantity of wheat on ocean
passage was increased $50 900 bushels, and
the shipments from all sources to Europe
last week were 9261 ,00o bushels, against 81,
247 GOO bushels the previous week. This lat
ter item had a good deal to do in causing
the selling which resulted in the decline
after the opening. The visible supply state
ment was an additional source of weakness
II showed an increase of 2927000 bushels.
During the latter part Of the session trad
ing was very dull, though prices showed
more steadiness. Liverpool closed SD high
er. The Corn Trade News predicted an I'M
mediate falling off in Russian shipments as
a result of ice. The strength with which De-
cember was maintained gave the market
much needed support at times. May was
bringing 90Ac at the close.
Corn was dull with very little doing be-
yond changing December and May and even
that in limited quantities. Elevator people
were the most conspicuous sellers. The feel
ing was easier, more from neglect than
from either statistical influence, but price
changes were narrow. Receipts were 1893
cars. The visible supply decreased 1854 900
bushels. Gables were I'D higher. May
ranged from 9Oc to 29a4 Q29%c, and closed &c
lower, at 297sc.
The market for cats was very similar to
corn in the character of its trading very
little being done beyond exchanging; selling
December and buying May at about 1%c
premium for the latter. Prices averaged a
shade better. The cash demand was not so
urgent. Receipts were 447 cars. Visible sup
ply decreased ], 104, 900 bushels. May ranged
from 22c to 21$Q217sc, and closed a shade
higher at 217&Q22c. = a-~,
Provisions were slow with prices weak
Lower prices at the yards were responsible
for an opening decline in provisions and
moderate selling by packers kept prices on
the down grade. Shorts were the principal
buyers At the close January pork was 1914
@15c lower, at $S.2O1S221z; January lard. Tx
aloe lower, at $425 and January ribs 712Q
10c lower at $4.2212.
Estimated receipts for Tuesday-Wheat
40 cars; corn, $50 cars; OATS 465 cars; hogs,
$4,000 head.
Leading futures ranged as follows: