The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-11-15
SLOWER WHEAT MARKET
SHORTS SHOWED SOME UNEASINEss,
BUT PRICES UNCHANGED.
Other Grain Closed Dull and at Low
DEMONSTRATIONS Scored
Small Declines.

CHICAGO. Nov. 13.-Wheat was slow
throughout the day and very irregular.
December closed where it did Friday at
4Ac over May and at $3.50. December
shorts showed some uneasiness, growing
out it is said, of the strictness of the in
spection department. Corn was dull and
prices lost 14Q9sc on the day. Oats showed
a decline of Nc, the market closing at the
lowest figure. Provisions were featureless,
a shade lower than Friday. Pork, lard and
ribs were 212c lower.
The speculative trade in wheat opened
dull and for the first hour the trend was
downward, the most weakness, however,
being in May, which sold 1kc below the close
yesterday. May opened at 9O1ac, and
sold to 9Olc, while December touched 937sc
The Liverpool market was again tame, and
seemed inclined to sell off some, while dis
patches from New York said that the frost
damage in Argentine was slight and the
outlook for a good crop favorable.
Trade was dull for time, but later spec
ulation became more active, and there was
a gradual rally of 5sc in May and 1c in
December The demand for December be-
came quite brisk, and it was supposed that
shorts made an effort to cover, which
gradually sent the price to 94Bc, and May
moved up to 907sc in sympathy. A rumor
that some of the wheat received from Du-
luth had been rejected by the inspection
department contributed to the alarm dis
played by the November shorts The Elk
ports from both coasts for the week ag-
gregate 5,445,000 bushels, against $500 900
bushels the week before, and 1850, 600 bush
els the corresponding week last year, and
Broomhall of the Corn Trade News, cabled
that in order to keep present stocks Eu-
rope would have to import between now and
April l next 1866 100000 bushels of wheat
cables also reported that the Russian ports
on the Sea of Azof were being c'Oeod hv
Ice, cutting off Russian supplies, but the re-
port had more eject mere apparently man
1t dld at Liverpool, which led many to doubt
its reliability.
There was sharp break during the last
hour and May sold off &c to GOO and Decem-
per lost Nc, selling down to 9355c after
having sold at $3.50. The weakness abroad
early buyers to sell out and the market be-
ing so weak that longs were not disposed to
carry holdings over Sunday holiday, this
close May was soc bid and December 94Ac,
or 414c over May, where the difference last
night was only 312c.
Corn was dull and heavy and at the close
ssc lower for the day Trading in the pit
was largely in the way of changing Decem-
Der TO May at the existing difference. The
latter is so satisfactory to the elevator peo-
pie that they can only be persuaded to part
with any when 12c permium over December
is bid by shipper. Opening price for May
was 301s43O14c and 30Ac; it sold at 297sQ30c,
and closed at soc bid.
Oats opened firm and for a while prices
were higher Good buying by New York
and the firmness in the cash market in
f1uenced the buoyant feeling. Later, how
ever, the firmness gave way to weakness,
caused by liquidation on a moderately large
a al n md
declined to 217sc, and closed with sellers at
that price.
Provisions were duler than even the ordi-
nary state of depression. Changes in price
were small as to be hardly worth re-
cording. December pork yielded to the
weakness to the extent of 215c decline, lard
for December lost half as much and De-
cember ribs declined 21Ac.
Estimated receipts Monday-Wheat, 135
cars; corn, 450 cars; oats, 40 cars; hogs,
As 900 head
Leading futures ranged as follows: