The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-12-28
ACTIVE GRAIN MARKET
GAINS OF THE MORNING LOST IN THE
AFTERNOON AT CHICAGO.
Corn and Oats Held Their Advances
Until the CONCENTRATIONS Weak,
Pork Declining &c.

CHICAGO. Dec. 27.-All the activity of
to-days grain and provision markets was
confined to the morning. During the after
noon dizziness all the advance in the wheat
caused by smaller worlds shipments and
the Oriental war talk was lost, May closing
at A@ssc decline. Corn and oats were both
very strong, and advanced 1aussc, respec-
lively. Provisions closed at slight declines.
Wheat opened firm at from nc to &c for
May over the closing price for Friday, initial
sales ranging from 9414c to 1880, with
few sales a moment later at 1850
9413c An active trade was done
for an hour, and the market for
that length of time maintained the appear
ance of strength with which it started, May
selling as high as 94ssQ94a4c. 1t once touched
94lsWS4Ac, but under the demand from
shorts. which was active during the first
hour, it reacted again to $3.50, and held
around that figure tori some time. Suisse
quently trade siackened and the price weak
ened slowly to within half an hour from the
close. Apparently the only reason tor the
strength was the new European war scare,
as nothing else of a bullish character was
contained in the early news. There were
several bearish features in the days news,
chief of which was estimate made in
probable surplus of wheat for export from
Argentine 4OUvO.v0O bushels. The latest pre-
vious estimates from that country sug-
gested an exportabe amount of about
zo,VVv,OOO bushels. Foreign markets were
closed on account OF CHRISTMAS hoiuays but
New lOtk reported the receipt vi some
buying Oluels Tor futures on Iopean ac-
count, ana at least one 5v,UvO-bushel lot was
bought IN the pit there on an oiuer kFoIn
Liverpool. Ine LlVerLooI corn IIeAe views
estimated the MOriu shipments OF last
week at 6,4So,VvO busneIs, exclusive OF BaI,I-
more shipments. The Umted STATES con-
trlDLtion 10 last weeks total was 4,ioLUoO
bushes. j ne receipts IN Chicago since Fri
Gay numbered 'So cars by RAN from outside,
zi5, 90 buSl.e.S unlOadeu lrUm a vessel or We,
DesIues I44,Uyu bushels and I94 Carloads trans
terred from unlicensed 10 licensed eIeVa tOIS.
In all $4,000 bushels we've estimated 10 have
been added since Friday the contract
stocks IN regular houses. Minneapolis anu
Duluth received /, 6Ul carloads since Friday,
compared with $50 a week ago and 500 on
the similar period the year before. Tine WIS.,
ible supply increased l,Ool ,0UJ bushels, COM
pared Win a decrease of IIJ, CO bushels the
year before. Exports Tor the day from At
Iantic ports equaIed 4S1 Go bushels. The
heavy receipts here and at Northwest
points caused considerable realizing and
short selnng by professionals. this and the
late duiiness causing decline in May to
y3se GIy3S4c. AT that price little better sup
port was given, and by this time May had
reached again sac.
Corn for the greater part of the session
was very active, with increased outside in
terest. Many wheat traders were in the pit
bidding for corn, and shorts were also ac
tive buyers The heavy week clearances,
100000 bushels the lack of country Offer
ngs and the European war news were all
factors, and the market ruled strong. Trade
fell off considerably later in the day, but
prices held firm to the end. May ranged
from 50lsc to 2o9su2sAc, and closed 12c high
er at 301sc.
In it's essential features the market for
oats was almost a counterpart OF corn.
The market started very firm and active,
with local shorts slightly alarmed at the
strength of corn, buying freely. In this
market war talk was also a factor. 1t was
much quieter during the afternoon. but
without much effect on prices; May ranged
from 2314c to 2335@2312, closing &c higher at
233s @I25s4c.
Provisions were quite active and firm
during the morning. The opening was rather
weak, with quite free realizing and selling
by packers. The market soon became firmer
on good general buying, but later in the day
the advance was all lost the close being
easy. May pork closed sc lower at $89212;
May lard unchanged at 81. 7004. 721a, and May
ribs 21ac lower at $4.55.
Estimated Receipts on TueSday-Wheat,
4S5 cars; corn, 600 cars; oats, 800 cars; hogs,
1900 head.
Leading futures ranged as follows: