The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-12-07
BIG AMERICAN EXPORTS
MORE WHEAT SENT OUT THAN FROM
ALL OTHER COUNTRIES.
Narrow Chicago Grain Market Yester-
day, with Final Decline of $50
provisions Advanced.

CHICAGO, Dec. 6.--All the grain and pro-
vision markets were quiet and compare
lively narrow to-day. May wheat opened
lower and advanced, but broke badly on
very liberal seeding estimates and closed CSC
lower. Most of the statistical news favored
lower prices Corn and oats were unchanged
at the close, while provisions showed small
advances.
At the opening and for a short time after.
wheat was in a weak condition. 1t opened
at S914QS93sc, as compared with Saturdays
closing price of S91zc: 1t sold off slowly, I'M
der fairly liberal offerings, to SS7sc. Early
news almost altogether favored sellers. Liv-
erpool, which opened Ad lower, showed AQ
I'D decline at 1870 p. m. Worlds shipments
were very large, amounting to $500, 200 bush
els, fully 10000 more than expected, though
all the increase was from America. In the
last twenty-five weeks America has fur
nished three-fifths of all the wheat shipped
by exporting countries. The trade was also
figuring on a visible increase of 900 BUSH
els, against decrease of 900 last year.
The opening weakness was added to by the
liberal Northwest receipts, Minneapolis and
Duluth reporting a total of 1915 cars,
against LAO cars last week, and 1,04S cars
year ago. Chicago receipts were 257 cars.
After the market had dipped to $3.50, how
ever, there was a quick rally, on covering
by shorts and the market went to S912c,
without much effort. 1t had been expected
that in case of break below sec a big line
of long stuff would come out, and IN ms
the crowd was disappointed The visible
showed a larger increase than expected, ag-
gregating l,lS9,000 bushels, bringing the to-
tai stocks to "a S45, 900 bushels. year ago
they were Sc 312 600 bushels. But so firm was
the market that even the excessive increase
fell fiat in so far as affecting prices was
concerned. The arrival here of 900 BUSH
els, by lake, from Duluth, 257 cars by rail
and the reinspection of IS cars from private
to public elevators, all of contract grades,
did not dampen the ardor OF the buying:
The amount on passage increased 1850 200
bushels, bringing the amount TO 30 y2O,UOO
bushels. A year ago 1t was 81 10000 bush
els. AT IL o'clock May sold as high Sys4c,
the market being helped great deal by raj
lies at New York and St Louis. The mar
tet held very steady, at that price for some
time, became suddenly weak and dropped to
S834c. This was due to the Orange Judd
Farmer report, which gave the area of VIM
the crop harvested in 1897, although the con-
dition of the plant was put at only "a per
cent There was an endeavor on the part OF
early buyers to realize on their purchases.
but a lack Of supporting orders from out
side rendered this difficult and the decline to
SS%c resulted. Just at the close an effort
was made to buy some December but SEC
had to be paid, a cent above Saturdays
close. May closed nervous at SS7sc.
There was not much doing in corn. The
but became steady after a further slight de-
cline and held well throughout the Sessi on,
Notwithstanding the break in wheat, closing
at nearly the top price Of the day. The
trade was almost entirely professional. Re
ceipts were 1894 cars. Liverpool was A1%d
lower. The large out inspection, 1,256,0O0
bushels, and liberal shipments, $4,000 bush
els, had a strengthening tendency. May
ranged from 2S5sc to 2S14Q2Sssc and closed
at 2S12c.
The market for oats was very narrow,
with small offerings and equally restricted
demand. The market was weak early in the
day following the course Of wheat, but soon
steadied. AS in corn, trade was almost alto
gether professional. Receipts were $40 cars.
The visible supply showed an increase of
20l COO bushels and local stocks increased
$4,000 bushels. May ranged from 22G221sc to
217sc, closing unchanged at 22Q221sc.
Provisions ruled strong and higher on
moderate amount of business. Receipts Of
hogs were 5000 less than expected. and the
market was influenced by that principally.
Shorts were little anxious about outstand-
Ing contracts and purchased to some extent.
Part of the advance was lost on selling by
Cudahy'S brokers, but the close was steady.
January pork was &c higher, at SS.32l5; Jan
uary lard 21sc higher, at $3.50, and January
ribs, 2i2c higher, at $4.25.
Estimated receipts for Tuesday--Wheat,
go cars; corn, 62O cars; OATS $50 cars; hogs,
1000 head.
f,,4., c-1I