The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-11-01
IRREGULAR AND HIGHER
FRESH STRENGTH SENT WHEAT UP
11-2C NEAR THE CLOSE.
Alleged Bad Prospects for Next Years
Crop Becomes an Important Fea-
ture in Chicago Market.

CHICAGO, Oct. 3O.-Wheat was very ir-
regular to-day, within range of 11kc May
has narrowed it's discount to PIC under De-
cember. The features of the session were
changing from December to May and heavy
buying by Allen & Grier. The close was
strong at a net gain of 115c for December
and 1850 for May. Corn, oats and provisions
all closed with a slight net gain, compared
with last night.
Wheat was very quiet for the first hour
and half and the fluctuations in that time
were quite immaterial, except that there
was a temporary decline in December in the
first fifteen minutes of 7sc from the highest
price it touched at the start. May in the
same time, varied only CSC. The first trades
in both were at from Ac to 15c Improvement
upon the previous days closing price. De-
cember was wanted at from 97c to 971Ac
May from $3.50 to. sac. December got
quickly down to 96ssc, but May did not go
below $3.50. The Liverpool market was not
as weak as might have been expected from
the news that was cabed there of the
heaviness with which this market wound UP
yesterday. 1t closed 1sd lower for the day
for the nearer deliveries and Sad lower for
May The chief reason, however, for the
market here showing the recovery it did at
heaVX
exports of wheat and flour to Europe from
this side, the weeks clearances from both
coasts being 5,59l, 900 blu, against 5,552 900 bu
the week before. Argentine shipped no
Mneat to Europe this week. A year ago the
SIllpHentS from that country were 80, 800 bu.
receipts here and in the Northwest were
heavier than those of the wear before Chi
$3.50 received $50 carloads, compared with
1VJ last year. Minneapolis and Duluth re-
ported LIS cars, against 1856 a year ago.
Inc atlantic and gulf port clearances Tor
weather was still discouragingly drv and
the crowd is ready to take alarm If it shall
De much longer continued. Their vision is
extending beyond the time of the Argentine
harvest and they are contemplating the
possibility of failure of next years Amer
dc i: Whe 5T, crop very much more serious
aHalr. Ihe market recovered in half an
hour from its early weak spell and ruled
quiet until within thirty minutes of the
France and the United Kingdom had ac-
cepted literally of cable offers made from
new York The quantity was variously
stated at from tiftytwo 10 over eighty boat
loads. The first-named quantity was well
authenticated, and the fact of wheat in New
forK advancing 1c per bu on the curb, after
on the regular session. That put more life
INTO the previously sluggish pace of the adj
vance here and sent December to 977sc and
May to 954Q95ssc, which were substantially
the closing figures.
Corn followed the fluctuations in wheat,
put the trade was dull and narrow and
prices Kept within a sc range. Selling by
elevator people early and the fact that ca
bles We're weaker than expected prompted
the feeling of weakness which prevailed for
time after the opening. AS the session ad-
Vanced inquiries were more numerous and
the value of the grain was enhanced. Pro-
fessionals from the wheat pit were very
conspicuous and commission firms also took
hold well. Selling was pretty generally
scattered. May opened at from 215sGD21sIc
TO 2135c, sold at pc and was offered at the
top price at the close which shows a gain
of CSC since yesterday.
Oats were fairly active but held steady
oht feature and followed in the wake of
corn
Provisions were easy Early on commission
house selling Of pork. They closed steadier
with corn and on some reported export de-
nand for lard. Receipts of hogs were large
and prices at the yard were 5G110c lower, but
TO offset this were advices from the
South stating that cooler weather had
set in, fact that VIII naturally increase
speculation in time December pork opened
at $50, eased off early under selling by the
country to S7.4e97 421h but gradually react
ed to $7.5212. which was the price at the
close December lard opened at $4.12R. sold
up to $4.15. and those figures covered the
entire range in prices. December ribs held
steady at $4421a
Estimated receipts for Monday-Wheat,
175 cars; corn. $50 cars; oats, 2S0 cars; hogs,
$4,000 head.
Leading futures ranged as follows: