The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-11-07
LOWER WHEAT MARKET
FOREIGN PRICES DECLINED AND DE-
GENDER CLOSED &c DOWN.
The Leading Cereal Started Weak and
Dragged other Grain with It
Provisions Declined.

CHICAGO. Nov. Slower foreign mar
kets to-day. the bearish Russian crop fig
ures and a disappearance of the export de-
mand caused a sharp decline in wheat. De-
cember closed 1c lower Corn and oats each
lest sc. Pork lost 21kc, lard 21aQ5c and ribs
left off shade lower
Wheat at the start was still suffering
from the very bearish Russian crop report
sent out late yesterday and the announced
determination of France to retire from
Fashoda. Liverpool was quoted at Sd to
ed decline, and London reported cargoes on
passage 3d@3l4d lower. while on the other
hand European securities showed a corre-
spending Improvement in tone. The very
heavy shipments of wheat and flour for the
week from Atlantic and Pacific ports were
believed to have had some part in causing
the weakness abroad and traders here were
inclined to go carefully in selling short
while holders of puts were enabled by the
opening decline to buy with confidence.
Clearances of wheat and flour from both
coasts this week were given as 6,T4,O00
bushels, against 1851 900 bushels the pre-
Vious week and g. 550.000 bushels the CORE
spending week year ago. Chicago receipts
We're 2l2 cars, compared with 1879 for the
same day last year The movement in the
Northwest was large, Minneapolis and Du-
luth reporting 1874 carloads received, COM
pared with 11GS the previous year. New
York wired that foreigners were moderate
sellers OF futures there, and some foreign
selling orders were executed here Also
shipping houses reported a very poor de-
mana from the seaboard of foreign sources
Wnlle a cablegram from Antwerp to a Chi
cago house said that Russian holders were
reducing their prices and Argentine pros
a large f
lant1c port clearances of wheat and flour for
the day were equal to $4,000 bushels. Moth
ing encouraging being forthcoming to the
pulls, the market became very heavy and
curing the last hour prices reached the low
est point for the day. December opened 40
&c lower. at 653sG65$4c, sold at 65s4c then
declined to 65c buyers. the closing figure
weak cables and a heavy wheat market
mad depressing effect on corn, notwith-
standing the steady adherence of a strong
bullIsh contingent. The unfavorable turn
TO the weather awoke the hope among the
quence but the arrivals of corn, $50 cars,
We're considerably above the estimates
Some business was done for shipment, brok-
ers reporting that corn was the only grain
they had any orders for. December began
&c lower at S1Ac, improved to 31%0317sc,
declined to 1880 S1$4c and closed at 31%c.
me official crop figures making the yield
5O2, 600, 600 bu against 03,0O0 0O0 bu last year
mad steadying influence in oats. Receipts
We're moderate, 242 cars. May started &c
down at 24ssc, rose to 24%4c, then reacted to
249sc sellers the closing price.
Large estimates of hogs for next week
and the declining tendency of wheat bur-
dened provisions. Outsiders did limited
amount of buying, but there were more
than enough offerings, however, to go the
rounds, and prices suffered trifie. January
pork opened 21zc down at $9.05, rose to
$90712c, declined to $9.0215, then recovered to
$9.05 at the close. The fluctuations in lard
and ribs were very small.
Estimated receipts for Monday are
Wheat, 275 cars; corn, 700 cars; oats, 2S5
cars; hogs, 10000 head.
Leading futures ranged as follows: