The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-11-30
WHEAT CLOSED LOWER
IRREGULAR MARKET AND FLUCTU-
ATOMS ACTIVE AT TIMES.
Demand Was Strong, but Heavy Re-
ceipts Finally Ruled Prices-PrO-
visions Scored Small Gains.

CHICAGO. Nov. 29.-Wheat to-day. after run
ming very irregular course. closed heavy and
sc under yesterdays final figures. 1t case
OF enormous receipts against a splendid demand
and the receipts finally triumphed. Corn and oats
were unchanged. Provisions closed little higher.
Immediate opening in wheat was rather weak,
May starting at 6sd66lsc decline of l4c and
December 14@9sc lower at 657sc. Liverpool failed
to respond to yesterday advance here and North
west receipts were very heavy Minneapolis and
Duluth reporting 2.O41 cars compared with 2,l77
last week and 1,o43 a year ago That gave the
market the easy opening. Reports that snow
storm prevailed in the lake district, suggesting
consequent decrease in receipts, was apparently
the reason for a brief advance, December selling
to $3.50 and May to 669sc shortly after the open
ing. Then followed period of depression which
lasted until about II o'clock Reports from the
Argentine crop, the condition of which has been
exciting much interest, were conflicting, one re-
port claiming much damage from locust and frost
and another saying the exportable surplus would
be heavy in spite of damage, but this report gave
the exportable surplus at about &c. 600 900 bushels
which is considerably below previous estimates,
and therefore the Argentine news had support
ing influence if anything. Bradstreet reported the
worlds visible increase at {, sos, 900 bushels. about
what was expected. There still more or less
nervousness shown by December longs and
liquidation from that source, though not so heavy
by any means of late, was nevertheless fea-
ture of the morning decline. Before the pressure
had been removed December had been forced
down to 651zc and May to &C., After IL o'clock
the market became firmer. Clearances were put
at 966, OO0 bushels and forty loads were reported
sold for export. Strength in also helped
create the demand, which finally sent May up to
66lac and December to 66$s@66lac. Primary re-
ceipts were very heavy, 1922 900 bushels, and this
announcement again brought before traders the
fact that farmers were apparently unanimous in
a desire to SELL The demand gradually fell off
and during the last few minutes trading the
market was quite weak December finally de-
cined to 65Ssc and closed at 6524c. May declined
to and closed at 655sG66c
Corn, though having periods of depression, was
in the main firm. The demand for December was
a feature. Receipts were moderate, AIS :ars, and
cables were steady Soft weather West was
bull influence. Shipping houses reported fewer
offers from the West. Seaboard sales amounted
to seventy-one loads The visible decreased
/, 49, 600 bushels. Local bull traders were good
buyers. Prices advanced during the morning, but
the advantage was lost when wheat weakened.
May ranged from S4AQ349sc to 34s4c and closed
unchanged at S4l@c.
Oats followed corn very closely. There was only
fair business transacted. Local long interests
were moderate sellers Cash ana export oenahuS
reported good and receipts moderate, Sl4
cars. May ranged from 26lsc to 26a4c and closed
unchanged 262c.
Provisions dull, but firm in the fare CT
heavy receipts of hogs. Room traders as a Iule
were bullish. Shorts took advantage of the rat
ural heaviness to cover and there was also some
buying for the long account. Packers were mod
crate sellers. There some depression near
the end account of the declines in grain. At
the close January pork &c higher at Scotia
January lard 2lzc higher at $4GI5 and January
ribs 212c higher at s45112.
Estimated receipts for Wednesday-Wheat, us
cars; corn, $50 cars oats, 1855 cars; hogs, 10000
Leading futures ranged as follows: