The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-11-27
DOLLAR WHEAT AGAIN
DECEMBER OPTION MADE RAPID
JUMPS AND ADVANCED 3-SC.
Strength Extended In a Feeble Degree
to Other Markets, Corn, Oats and
Provisions Scoring Gains.

CHICAGO. Nov. 9s.-wheat sold at 81 to-
day for the Hecember option, and closed at
991kc an advance of sac. May showed a
considerable amount of sympathy with the
advance in December and closed 1AG1ac
higher. Efforts of shorts, both here and
from st. Louis, caused the advance in De-
cember and they were not supplied until 81
had been bid. Other markets were uninter-
esting. Corn and oats advanced 1sa14c and
provisions closed 212e higher.
Wheat started firm at from 917sc to 92c
for May 96kc to 9614c for December COM
pared with 91Bc and 96Ac, respectively, at
the close of yesterdays session. The addi-
tional strength came from an advance at
Liverpool of sd to begin with, added to the
effect of a cold wave prediction from the
Signal-service Bureau. There was plenty of
bearish news in circulation, and for nearly
an hour after the opening there was moder-
ate selling, with the tendency of prices
slightly downward for May, December,
however, holding firmly. The Cincinnati
Price Current estimated that after Dec. l
there would still be 100000 00 bushels avail
able eXportabe surplus in this country The
Kansas crop report said that the increase
in the area of that State amounted to 16 per
cent. The Buenos Ayres correspondent of
the London Times estimated that Argentina
would have 37,50COO0 bushels of wheat to
dispose of for exports. Receipts at Mime
apolis and Duluth, since Wednesday morn
ing, were 1.542 carloads, against 2,144 for the
similar two days of the previous week and
544 q year ago. Chicago got 191 cars and
shipped 215,69S bushels. About forty-five
minutes after the opening December began
to advance slowly at first, but very soon
with the gathering impetus of an advancing
storm, it rose from 96Ac to size without
causing May to go above the price it
opened at, but when the December made a
spaSmodc jump that took it to 9SAc and an
other series of leaps that landed it at 81,
May responded IN protesting kind of man
ner by rise to 931sc. 1t was all matter
of shorts covering. st. Louis shorts were
said to be active bidders at the commence
ment of the bulge and host of the smaller
traders Joined in the chorus. There was
hardly bushe of wheat for sale until the
market had reached ST. when the anxious
ones were furnished with so much that
sudden drop to 977sc resulted But the
shorts were too badly demoraliZed to wait
any longer to get under cover and the prices
clearances of wheat and flour were equal to
about SIS 900 bushels, including $4,000 bushels
from Galveston; New York reported nrt TWEEN
sold for export. May, after reacting little
from it's first bulge to 931sc, became stronger
than before and reached 9313c before the
close. IT. wound up at $3.50. December got
up to 9912c and closed at that
Corn was not very active and responded
very lazily to the encouragement 1T got from
wheat The tendency was downward until
wheat became bulish and it had evidently
the latter to thank for the lac advance 1t
made at the end. There was moderate buy
ing of December by brokers and elevator
people Receipts were 462 cars. May ranged
from 29a4c to 2912c and closed bQAc higher
at 295sM29s4c.
December oats were barely steady, but a
distinctly firm feeling was noticeable in
May The long crowd was willing to ex-
change the former for the latter at $50
1%c difference. Commission houses were
also good buyers of May and this with
sympathy with wheat. forced prices up a
little The shipping demand was helped by
the cut in rail rates Receipts were All cars;
Nav ranged from 22ssc to 22G221sc and closed
1kGLc higher at 22A@22ssc.
ONLY a fair business was done IN pro-
Visions The undertone was firm, chiefly In
sympathy with grain markets, but price
ranges were narrow. Outside orders were
moderate A heavy reduction in provisions
in stock has taken place since NOV. l. Al
the close January pork was 2lsc nlgner al
SS15: January lard 212c higher at S4zzzaQ
425 and January ribs unchanged at $i.lo.
Estimated Receipts for Saturday-Wheat,
24O cars: corn, 76O cars; oats, 200 cars; hogs'
q coo head.