The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-11-08
WHEAT MARKET STRONG
BAD CROP REPORTS LEFT CHICAGO
PRICES AT HIGHER FIGURES.
Turn in Conditions of the Leading Ce-
Provisions Scored Gains.

CHICAGO. Nov. 6.-There was a turn in
the tide in the wehat market to-day. The
market showed strength for the first time
in a week. December closing sc higher.
Crop reports from Ohio and Missouri were
sensationally bad and drove shorts to cover.
Other markets were firm, but dull. with
the exception of oats. Corn closed 1sQAc
higher, oats 14c higher and provisions 212@
sc higher.
Wheat was strong at the opening. The
Liverpool market was not sharer to the
full extent in the previous days weakness
here Paris sent bullsh advices the week S
clearances from all Atlantic ports were
5575, PIG blu, and Liverpool bids for Chicago
No. spring wheat were Sd per quarter &c
a bu) higher than those of the day before.
The most bullish item for the early news
was the Ohio November crop report, making
the condition of wheat in that State 81 and
the reduction in acreage II per cent. This
report was made up before the recent rains,
but had a marked effect nevertheless, and
was the main factor in the opening advance
and the gain which followed. The news
was not all bullish. The domestic receipts
were no less liberal than before. Chicago
had 1879 cars, compared with 222 year
ago; Minneapolis and Duluth reported LIS
cars, against us last year. The total re-
ceipts at the principal Western markets
were 1.1S1,S24 bu, against S42, 764 blu the cor
responding day of 1896. That would perhaps
have had some effect in checking the de-
sire to buy had the shorts not been over
sold, as was evidently the case. Continental
cablegrams quoted declines of 1919 centimes
at Antwerp and from 10 to 20 centimes at
Paris, besides so centimes decline in flour
at the latter place. Minneapolis wired that
1900 of wheat were looked for as the
receipts there Monday, but neither did that
benefit the shorts to any appreciate extent.
The increase in receipts this week over last
at Minneapolis and Duluth numbered $40
carloads. The Atlantic ports exports
amounted in wheat and flour to 6O1, 900 blu.
A New York dispatch said cargo of wheat
had been worked for Vienna via Hamburg,
and another New York message reported
twenty-five boatloads taken chiefly for
France. 1t was also reported that fifteen
boatloads of Manitoba wheat had been
worked for the United Kingdom. The trad
ing was light and only spasmodically active.
December wheat was not heard iof, but its
value had many changes. 1t seemed i'm
possible to make two consecutive trades in
December at the same price. 1t ranged from
$3.50 to 94Ac and closed 5sc higher, at 94c.
May started 12c higher, at size to 913sc,
gradually improved to 91s4c and from that
down again to 91AQ91ac. Afterward it rose
slowly to 92Ac and closed at 91s4091Bc.
Corn was firm on a narrow amount OF
trading. The market was influenced by the
unexpected strength of cables and by yes
terday's large export sales, New York re-
porting 100000 bushels sold. There was
some covering by interests which raided
prices yesterday which proved sufficient to
keep prices at a slight advance. Receipts
were 437 cars. Liverpool was sd higher
December ranged between 25Ac and 267sc
and closed 1sQAc higher at 26Bc.
There was again an active trade in oats.
There was quite influential selling through
out the session, particularly by elevator
people, but all offerings were taken and the
market ruled strong from the start. There
was a good cash demand. Receipts were
300 cars. December ranged from 194Q19Bc
to 1912c, closing Ac higher at 193sM1Ss4c.
Market for provisions was duller, if pos
sible, than it was yesterday. Prices were
steady within an extremely narrow range.
The cash trade was good, but the almost ut
ter lack of speculation made the market
devoid of feature. Offerings were very
light. Hog market was strong and higher.
At the close December pork 212@5c
higher at $7.5712, December lard 21a05c high
er at $4.25, and December ribs 212c higher.
Estimated receipts for Monday-Wheat,
ITO cars; corn, 535; oats, go; hogs, $1,000
head.