The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-11-17
DULL AND DECLINING
HEAVY RECEIPTS IN NORTHWEST
SENT WHEAT DOWN THE SCALE.
Fairly Strong Opening Market Con-
verted Into a sIumpy One by Con-
tinued Efforts of the Bears.

CHICAGO. Nov 16.-Grain and provision
markets were again remarkable for their
dulIness to-day. Wheat suffered somewhat
from liquidation caused by the heaviness
of receipts in the Northwest and closed at
&c decline. Corn was easy and closed 40
&c lower. Oats declined Ac. Provisions
were dull, but irregular, and closed at sub
stantially unchanged figures.
Wheat was fairly strong at the opening.
especially for the December option, which
showed A@3sc advance. May was I'M
changed, starting at sOAc and a few small
sales were made at 90ssQ901ac, but the
market took downward turn in the next
two hours and the price had declined to
$3.50. The Northwestern receipts of wheat
were very busy and that overshadowed ev-
erything else in the way of fresh develop
ments affecting prices in the first two
hours. At the immediate opening the Sc
we're frost shown by the weather map to
be prevailing over large area of the WIN
ter wheat country caused enough buying to
raise prices a trife over the closing prices
of the day before, but that was soon for
gotten under the pressure of wheat bought
in expectations of falling off in the North
west receipts. Local professionals were for
the most part on the side of the BEARS
Duluth received 1,O46 carloads of wheat, 400
of that number came from Minneapolis and
had previously been counted in the North
west receipts and had been bought at S12c
premium for immediate delivery of con-
tract grade. This was overlooked, however
Minneapolis received only the moderate
number of Az cars, although the millers
and dealers of that city We're likewise pay
a handsome indnCempDt
cember price, for country elevator men to
hurry their wheat to the front. The re-
ceipts at the two big Northwestern markets
were ALB cars, against 1,l36 a week ago and
1888 the corr esponding day of the previous
year. Chicago received l73 cars, compared
with 217 Tuesday of last week, and 12y Il
year ago. The stock of contract wheat in
Chicago increased from $4,000 TO 1907 O00
bushels, an addition during the week of
672 900 bushels. The clearances of wheat and
flour from the Atlantic and gulf ports were
equal to 535, 900 bushels. The Bradstreet fig
ureS on Change for the week in the worlds
visible made an Increase of 4,49300O bushels
for the week, or about 100000 less than
the addition expected When these figures
were posted the market became stronger
and May advanced to 9OMc, but the bears
were persistent and finally wore the mar
ket out The lowest prices of the day were
made in the last ten minutes of the ses-
sion,. May declining to S9ssc. 1t closed at
S91hc.
Corn was dull and rather weak under the
clear, cold weather, the expectation being
that in consequence of the latter the coun-
try movement will increase Pit transac-
lions were largely in the way of changing
December deals to May at a slightly in
creased spread. Receipts were 5S1 cars and
Atlantic clearances 565, 900 bushels Cables
were unchanged. May ranged from 29zsc
to 291R@299sc and closed Am3sc lower at
2915M295sc.
Oats were quiet and steady, compared
with other grain markets. There was good
buying early by export houses and selling
by commission firms, but that constituted
nearly all the days trading. Cash demand
was again good. Receipts were 494 cars.
May ranged from 217sc to 21Ac and closed
1sc lower at 21%@217sc. There was a very
good deme nd at 21%c
Provisions were irregular and dull. The
market started firm enough, helped by a
better hog market. Thefetwas a disposition
by longs to liquidate, packers selling mod
erately of January ribs. Prices slowly de-
clined, but recovered later on liberal COM
mission house buying supply of pork At
the close January pork a shade lower
at $500; January lard a shade higher at
425Q4.2712 and January ribs a shade low
er at $4.2004221a.
Estimated receipts for Wednesday,
Wheat, 12O cars; corn, 800; oats, 200; hogs,
$1,000 head.