The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-12-09
DECEMBER WHEAT $1.01
THE YEARS RECORD BROKEN BE-
CAUSE OF LIGHT RECEIPTS.
Of the Advance &c Was Maintained ut
the CIose-Other Grain and
Provisions Lower.

CHICAGO, Dec. S-December wheat sold
to-day at s1.O1 and closed at $1,000, or &c
above yesterdays close. May also adj
vanced &c. Receipts in the Northwest at
last are falling below those of last year.
This fact caused anxiety among the shorts,
and was undoubtedly the principal reason
for the advance. other markets were unin-
teresting Corn closed shade lower, oats
were unchanged and provisions 21zq71Ac
lower.
A firmer tone was observable in wheat at
the opening, and it improved as the session
progressed. The chief incentive to buy
came from the further decrease in the de-
liveries in the Northwest. and. though other
bullish news came in during the day, this
proved the main sustaining factor through
out. For the first time shorts in December
showed real anxiety. December opened at
99c, or &c above yesterdays close. A little
selling by the bull clique suffced 20 put the
price back to 9SAc, but an hour later an at
tempt to buy a few lots put the price to 81
very quick. The interest in the option did
not then die out as it did yesterday. More
buying orders came in after a slight reac-
ton, which put the price to $1.01. Again
the bull crowd let go, but for the rest of
the day December showed an affection for
the dollar mark. There was good action in
the May price also, due partly to the bid
ding up of December and partly to bull in
nuences. May opened shade over the
Tuesday closing, at S9S4c, and sold at once
to 9Oc., The first hour found the price adj
Then, when the December went to 81, May
sold at 905sc. When December went to 81. OF
that fully 1c of this gain was due to the
pressure in December. Chicago receipts
were still as disproportionately heavy as
ever numbering 2o6 cars, compared with go
last year, but there are extraordinary in
ducements being offered to bring wheat
here If it is up to the high requirements Of
and Duluth reported 600 cars received,
against 715 the Wednesday previous and 629
the corresponding day of the year before.
In view of the fine weather and the cash
premium this was regarded as arguing a
permanent let-up in the heavy receipts in
the Northwest. Bradstreets worlds visible
statement was a surprise, and infiu-
entail in the high prices both of December
and May. 1t showed a decrease of Al, 900
3,000,0O bushels had been looked for. The
primary market receipts were S25, 900 bush
els, compared with $4,000 bushels the year
before. Atlantic port clearances of wheat
ing the last hours May sold off to 901ac on
realizing and closed at 9O1@q9O5sc. December
Corn was utterly Indifferent to the adj
vance in wheat, and barely managed to
nold It's own. OUTSIDE OF a little trading IN
May early in the day there was almost
nothing. Receipts were moderate $50 cars,
but country offering showed an increase,
and this country selling caused even the
slight early advance to be lost. Gables were
steady. Clearances amounted to $50 900
bushels. Shipping demand poor. consider
ing the nearness Of the close of navigation.
May ranged from 2S1ac to 2Sssc and closed a
shade lower at 283sc.
Oats, though quiet, were firm helped by
the strength of wheat. December showed
especial frmness, showing 1ac advance at
one time. There was some covering by
shorts in that option. Commission houses
were moderate buyers of May, as were ele-
vator concerns. Rradstreet showed a Wis
ible increase of 307 900 bushels about the
only bearish influence. Receipts were 3O4
| cars. May ranged from 2214c to 22lsc and
closed unchanged at 22lsc.
Provisions were weak from. the start. Hog
receipts were much larger than expected,
and heavy selling by Cudahy helped to fur
Their weaken the market Local operators
and packers took the offerings. There was
| a slight recovery from the bottom, January
pork closed re lower, at $S.221a January
lard &c lower. at &.25; January ribs, 71ac
lower, at $4.1715.
Estimated receipts for Thursday-Wheat,
200 cars; corn, 400 cars oats, $40 cars; hogs,
43 900 head.