The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-11-24
WHEAT MARKET DULL
EARLY ACTIVITY IN SYMPATHY
WITH FOREIGN SPECULATION.
other Grain Business without Life,
and Prices Unchanged-PrO-
visions Declined.

CHICAGO, Nov. 2S.-Grain and provision
markets were all remarkable to-day for
their dullness 4 jump in Liverpool cables
caused an opening 9s@5sc advance in wheat,
and that was the only time the market
showed a sign of even moderate activity.
1t closed 1aG5sc higher for May and &c
higher for December. Corn and oats were
almost lifeless and showed very little
change. Provisions showed heaviness and
declined 5d1Oc.
1t needed constant effort on the part of
pit traders to keep any life in the wheat
trade and business was seldom smaller
than it ruled to-day. The market showed
some degree of activity at the opening.
Liverpool opened I'D higher for spot wheat
and Esd up for futures. Private cables ex-
planned that the Liverpool strength was
reports of Argentine crop damage. Still
other cables said the English strength was
due to increased milling demand. buying of
cargoes by the continent and Argentine ru-
mors. The Liverpool close was posted at
BG112d higher In fact, the cables were so
very stiff that trade discredited the strength
claimed, and talk of manipulation from this
side found believers. The Liverpool open
ing strength, however, was responsible for
the advance at the start. May wheat,
which closed yesterday at 905sc opened at
from 9l1sc to 91AQ91ssc, and December
showed a similar advance. The Northwest
ern receipts were however, too heavy to
permit the development of any enthusiasm
On account of the reduction in Argentine
prospects. Minneapolis and Duluth re-
ceived 1905 cars, against lab a week ago,
but compared with 562 for the correspond
ing day of the year before. The net ef-
feet of the news was to make sellers scarce
and prevented, also. the disposal of any
great quantity of long wheat at the adj
vance. Fresh buyers at the improvement
were likewise scarce. Infrequent f1uctua-
lions within a narrow range was a conse-
quence of mutual timidity of buyers and
sellers. The export clearanceS of wheat
and flour were equal to 100000 bu. Brad
streets visible supply statement reported an
increase in and afioat for Europe of $500, 900
bu, a total addition to the worlds stocks
of 1896 900 bu. The acceptance of thirteen
boatlOads of sample spring wheat, offered
by a local firm to Liverpool the night be-
fore was reported early in the day, and five
boatloads in addition We're sold for ship
ment later. New York reported a fair ex-
port inquiry and twenty-five boatloads were
worked for export there and reported half
an hour from the close. The fly in the ONT
ment of the bull situation was, as before,
the heavy domestic receipts. At primary
compared with only $4,000 bu the corre-
spending day of last year. May sold down
to 9024c during the morning. but slowly re-
covered and closed firm at 91Ac.
Corn was dull and without particular
interest Elevator people sold and prices
suffered little at times, though showing
hardly any change at the close Everyone
reported freer country offerings. Receipts
were large, III cars. Gables We're Aq9sd
higher: Export clearances were 5S9, 900 blu.
The buying was professional mostly COW
ering by shorts, and May ranged between
2S5s@2924c and 2912c, and closed unchanged
at 2912Q295sc
Outside of a moderate amount of chang
ing over of December there was little done
in oats. This depressed the former price
and held the latter steady, the spread mar
rowing to 11ac. AS usual, a good cash de-
mand existed, 200, 600 blu selling here and
10000 bu at the seaboard. Receipts We're
525 cars, considerably overrunning esti-
mates May ranged from 221s@22Ac to 2l7sGp
22c, closing a shade higher at 220221sc.
A very light business was done in pro-
visions Heavy receipts of hogs here and
at Western points gave the market down
ward tendency at the opening, and the mar
ket inclined that way all day. Packers sold
a little and small outside holders did some
realizing. The shipping demand was good
At the close January pork was lOc lower
at $S.121s; January lard, &c low er at $4:2OW
422lb and January ribs sc lower at 4l5
Estimated receipts for Wednesday
Wheat, 1872 cars; corn, 425 cars; OATS $40
cars; hogs 1900 head.
Leading futures ranged as follows: