The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-11-12
WHEAT CLOSED HIGHER
OPTIONS TUMBLED EARLY, BUT
QUICKLY RECOVERED THE Loss.
Strong Cash Markets and Another
BuIIs-PrOvisiOns Were Dull.

CHICAGO Nov. 11.-Wheat to-day closed
AQssc higher for the May option, after sell
ing 115c below yesterdays closing 1t looked
for time as though all of yesterdays &c
advance was to be lost, but strong cash
markets and reported renewal of the Turko-
Grecian trouble repaired all the mischief
caused by the weak cables and better Ar
gentine reports. Corn and oats closed sub
stantially unchanged Provisions were firm.
but very dull and closed 5Q715c higher.
Damage by frost to Argentine wheat
crop being slight and Liverpool quotations
reduced from Id to 114d per GENITAL were the
features Of the news that opened the wheat
market here from 11sc per bushel lower
than it closed the day before. there being
plenty of May offered at the start at 89AQ
$3.50. The late advices from Argentine yes
terday were such as to cast some doubt on
the report that there had been any consid-
cradle damage in Argentine, and this was
confirmed by the setback the market re-
ceived at Liverpool. The result was that
there was a good deal of liquidation on the
part of the longs, who loaded up on yester-
days bulge. The receipts were again dis
couragingly heavy in comparison with those
of the year before and caused further weak
ness in the course of the forenoon. Severe
frost that might harm a much more i'm
portant crop than that of Argentine was
foreshadowed in the report of the local sig
nal service bureau and that gave the mar
ket the strength it showed occasionally.
Chicago receipts were 1856 cars by rail and
96,7O0 bushels by lake, the latter No. North
ern spring from Duluth. It was estimated
that contract stocks were increased about
100000 bushels. Minneapolis and Duluth re-
nj nar
week ago, and 451 the corresponding day of
last year. Western primary markets re-
ported in all l,2lO,0OO bushels against $4,000
bushels the year before. Export clearances
for the day from Atlantic and Gulf ports
were equal to $4,000 bushels. Yesterdays
enormous export business at the seaboard
details to-day of about 100000 bushels.
Closing cablegrams reported Liverpool
STEADY 81 az Ia deellne Tor the day Paris was
20 centimes higher for nearby flour and
centimeS higher for March and April; 10
confines higher for November wheat and
unchanged for remote deliveries. Antwerp
quoted 1912 confines rise in Walla- Walla.
The market became quite strong in the last
half hour. The milling demand for wheat
improved considerably and caused an adj
vance of from &c to &c in low grades here
and Minneapolis reported similar state of
affairs with regard to higher prices for low
er grades. The port of Odessa. or at least
are sent to that place. were reported closed
by ice. Rumors that trouble had broken out
AGAIN between Greece anu turkey were cir
culated on the floor and also had consider
able effect. Many of the early sellers COW
cred on the advance The closing was firm
at 91Ac
Corn was weak early, but closed strong.
The government crop report was the early
influence, making the crop 1911 600, 900 BUSH
els. This was q considerable increase over
last months estimate The figures were
doubted. but had their effect, nevertheless.
The selling early was by yesterdays buy
ers, shorts renewing lines they had covered.
The demand for cash corn shipment that
developed turned the market strong and
ceipts were 307 cars. Seaboard clearances
were 5000 bushels. May ranged from "0Ssc
to 29S4c, closing unchanged at the latte fig
ure.
Oats were easy during the morning. fol-
lowing wheat and corn. When those mar
kets advanced, oats also, displayed a frmer
tendency There was large shipping bust
ness which helped strengthen the market.
Quite free selling followed the advance, bit
prices were well maintained. Export bust
ness here amounted to about 100000 BUSH
els. Receipts were 1922 cars. May ranged
from 22c to 21%c, and closed unchanged at
&c.
Provisions were very dull again and fluc-
tuatons were extremely narrow. The mar
ket was helped at the opening by better
prices at the yards and later by the up
turn in grain pits. No features of interest
developed. AT the close January pork was
sc higher, at $S.40QS. l21s; January lard 71ac
higher at $4350l4.371a and January ribs 212
Q5c higher, at $4.371a@4.40.
Estimated receipts for to-morrow-Wheat,
90 cars; corn, $40 cars; oats, 245 cars; hogs,
q. GOO head.
aadiuor f,,t,,roc rapOad 6 f0I1ouye.