The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-11-18
WEAKER At THE CLOSE
WHEAT TURNED BACK AND SMALL
LOSSES WERE SCORED.
Other Grain, Which Had Been Firm
All Day, Sympathized with the
Leader-PrOvisiOns Weakened.

CHICAGO, Nov. 17.-Wheat to-day very
strong up to within half hour of the close. when
it turned weak and closed at triis decline. The
advance was largely in the nature of a scare
among December shorts, but the local nature of
the strength was ultimately impressed on traders.
Corn and oats were strong and closed 1s0Ac
higher. Provisions closed a shade under yester-
days final prices.
Opening trades in wheat showed slight changes
either way from yesterdays closing prices. May
starting a shade lower 66c and December 1sc
higher at 66AQ66zc. The market at once de-
veloped considerable frmness December again
took the lead in this respect although the volume
of trading was greater in May it being difficult at
times to secure December, few operators cared
to put out fresh short lines. The general demand
for December. coupled with the strength shown
by Liverpool and yesterdays big export business
alarmed the shorts and for a half hour or more
the market very active. May advanced dur
ing this time to 66asc and December to 67A@67Ssc.
London reports more inquiry for off-coast and on
passage cargoes, which had it's effect the
strained local situation. Some reaction then fol-
lowed The advances brought out considerable
wheat, showing good profits. 1t all quickly
taken, but prices dropped to Gee for May and
&c for December. Northwest receipts to-day were
heavy, Minneapolis and Duluth reporting LAO
cars, compared with 1,025 last week and 91S year
ago. Chicago receipts were 261 cars, ten of con-
tract grade. Total primary receipts LAS, 900
blu. Atlantic port clearances of wheat and flour
amounted to 940,0OO bu. Milwaukee reported that
Armour preparing to ship eco, COO bushels of
spring wheat from that point to Chicago. During
the session the market was quite nervous and
prices moved up and down rapidly December
shorts were evidently still very apprehensve of
trouble on account of the comparatively small
stocks and the freedom with which wheat is going
out of the country and that options became so
pronouncedly bullish that May caught some of the
same spirit. Before 1890 O. clocl, December had
advanced to 6712c and May to 663s96616e. In the
last forty-f1ve minutes of trading however, the
market experienced a decided reversal. Outside
markets rule failed to respond to the advance
here Realizing also became very heavy, more
wheat being offered than the market could readily
absorb, and prices in consequence dropped rap
idly. The market quite weak toward the
close. December closed at 6612Q665sc and May
at 65sc.
Corn was very active and strong, but did not
maintain best prices Country advices were bull
ish and the Price Current claimed the recent crop
report unreliable and inconsistent. Cash de-
mand good both here and at the seaboard.
Buying was quite heavy until quite late in the
session and the closing weakness of wheat af-
fected prices Receipts were 224 cars. May
ranged FROM 1880 to 34c and closed B6DAc higher
at 339sQ3S%c
Oats were in the market in increased quantities.
Cash demand was excellent. Shorts were large
buyers. Toward the close the market weakened
materially and nearly all the advance was lost.
Receipts were pa cars. May ranged from 25A@
2SAc to 25ssG2524c and closed &c higher at 25ssc
Trade in provisions was very small. The mar
ket was steady, but having intervals of weakness
due to the bad hog market Prices were in
iuenced by the fluctuations in grain. At the close
January pork was PIC lower at $780, January
lard shade lower at $4.9O@4.921a and January
ribs a shade lower at s452h.
Estimated receipts for Friday-Wheat 175 cars;
oats, POS cars; corn, 800 cars; hogs, SO. Co.,
Leading futures ranged as follows: