The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-10-28
BULLS GOT THE MARKET
CHICAGO WHEAT RUSHED UPWARD
AND CLOSED 1 3-SC HIGHER.
Sympathy Led to Moderate Gains in
Both Corn and Oats, While Pro-
visions Were Dull and Firm.

CHICAGO, Oct. 27.-It looked for time
to-day as if wheat would make one of the
sensational advances so characteristic OF
the market a few months ago. AS it was
December closed at a 1850 advance. Small
Northwest receipts, coupled with light offer
ings, started bulls on the rampage, but
traders sobered down on the discovery that
No. 2 spring wheat could not be sold for
shipment at Sc per bu lower than Decem
Der price Corn was helped by wheat to
Ac advance. Oats gained an equal amount
and provisions improved a trifie. Influences
governing wheat were, as rule, favorable
to higher prices at the opening. Liverpool
had advanced quotations for wheat Id per
Genital before trading commenced here. The
predicted rain for the winter wheat section
stopped west of the Mississippi and the do
nestle receipts of wheat were again COM
paratively light. Chicago receipts were 16S
cars, OF which only three loads were of con-
tract grade Minneapolis and Duluth re-
ported 766 cars, against SS7 a week ago
and 1908 on the corresponding day of the
year before. The price was also helped by
the shipments from St. Louis and reports OF
large cash business at Duluth for export
All outside markets were strong A feature
was the demand for December houses act
i've on the bull side for some time past
TAXING on considerable. May was not so
eagerly sought for as it had been for some
days, the consequence being a widening of
the spread during the morning to 33sc. De-
cember, which closed yesterday at 1880
9412c started with buyers at 947sM95c, ana
steadily advanced to 95ssc. Offerings up to
this time had been comparatively scarce,
but at that price several of the large COM
mission houses sold freely, and then came
a reaction TO 95c. The prediction of rain
fnT &c IV1i Ar1
effect on the decline, as did the report that
foreigners particularly French, were re-
selling at the seaboard. At those figures
however, the demand again improved and
the market became quite strong. Liverpool
closed 1W1Ad higher, and added to the firm
ness, as did the heavy exports, $1,000 bu
of which 1900 blu was in flour. The mar
ket was further advanced on liberal pur-
chaseS by one of the houses which sold
for local professionals who replaced part or
a long line. Before the advance was
checked December had sold up to 9s12c
New York reported $4,000 bu taken there
yesterday and 4S loads to-day Primary
receipts showed some falling off, and were
S27, 900 bu under those of last year. CONT
mental markets ruled lower Paris wheat
declined SOLO centimes, and flour was off
20d90 confines. Antwerp unchanged. No
2 spring wheat was offered &c per bu under
December price to United Kingdom ports
without bringing response. This fact
brought the market down with a jolt, and
realizing became quite free The report of
4
ern at Duluth making about 100000 bu in
all, destined for this market also had a
weakening influence. December was SELL
ing at 957sc at the close.
Corn was influenced by the big falling off
in receipts and the strength of wheat, and
ruled strong from the start. The, cash sit
uation was a strengthening feature, the de-
mand being better. Trading was fairly
active, some investment buying being re-
ported on poor husking returns, and shorts
covered freely. The market eased off some
what toward the close with wheat. Re
cepts, 275 cars. Gables were AM3sd higher
December ranged from 26$s02612c to 26c
closing Ac higher, at 261sc.
Oats were firm on a moderate amount or
business, shorts being the principal buyers.
The strength came largely from sympathy
with other grains. A fair export inquiry
existed. Receipts We're posted at 2OS cars.
December ranged from 1880 to 1870, and
closed A0ssc higher. at 1S9sQ1Ss4c.
Provisions were very quiet. The market
for time was strong, in sympathy with the
grain markets and on the good cash bust
ness. During the latter part of the session
the feeling was easier on realizing sales
most of the early advance being lost. At
the close December pork was 2l2c higher
at $7771R; December lard 21ac higher, at
$4.25642712, and December ribs 212q5c high
err, at $4.4712045O
Estimated Receipts on Thursday-Wheat,
145 cars; corn, AIS cars; oats, 210 cars; hogs
81, 900 head.