The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-11-21
WHEAT CLOSED STRONG
THE MARKET HELPED BY THE
FIRMNEss DISPLAYED BY CORN.
BuIlish Influences at Work in Nearly
All Chicago Markets Pro-
visions Scored Gains.

CHICAGO, Nov. 19.-Pronounced strength
in corn to-day and heavy seaboard export
engagements rescued a weakened wheat
market, December closed Aq3sc higher and
May advanced 1sc. Corn rose 12c. Oats left
off sc up Pork and ribs advanced TIC each
and lard 211c
Heavy receipts in the Northwest and
easier cables from Liverpool started wheat
shade lower. Corn developed considerable
strength, however, and enough of that feel
ing was reflected in the whsat pit to offset
the easy feeling at the opening. Bradstreet
reported clearances of wheat and flour for
the week from both coasts at 5,679,O00
bushels and Beerbohm placed the total ship
ments of the week from all quarters to Eu-
rope at $4,000 Blu, which left only 2,71,0O0
bu from all sources outside of shipments
from this side. That helped to some extent
in producing the bullishness that so quickly
followed the easy feeling at the opening.
Chicago receipts were 22S cars. against lSS
last year. Minneapolis and Duluth reported
1,495 cars, as compared with 1,22S week
ago and 927 the corresponding day of the
year before Primary Western market re-
ceipts for the day aggregated 1,5SS,0OO bu,
compared with 100000 bu year ago. At
lantic port clearances of wheat and flour
bushels. Reports from the seaboard about
foreign demand were contradictory, some
claiming good inquiry from both continent
and United Kingdom, while others reported
cablegrams from all sources dull and no
buying orders In the end, however, New
York reported sixty boatloads disposed or
there for export. That scared the December
shorts into covering and the closing quota
ton, 667sc, was at the top of the days
range. May dragged slowly over range
beginning at 657sc and closed at 66Q661sc.
Higher cables and moderate receipts, 2S6
cars, gave corn a strong start An eXcel-
lent cash demand, together with small in
terror movement, served to stimulate Dull
sentiment and the market very soon devel-
oped so much additional upward tenaency
that it took the lead in speculative activity.
Scalpers from the wheat pit took an acuVe
part in the trade and the competition tnat
ensued held prices strong from beginning
| to end New York reported SO loads taken for
export at the seaboard. May started un-
| changed at 33s4c and advanced to MAC the
good cash demand and the advance in
| corn strengthened oats. Shorts were 1orced
! to cover and some of the most proInlnenC
longs added to their line. There was some
| selling against oats bought in. the coun-
| try, but this had little effect and prices leIS
off within fraction OF the ngn a1 po onene ID
Ikc higher at 259sc, declined to 2S1sc, rallied
| to 257sc and closed at 25s4Q25Bc.
The strength of the coarse grains NAG o., d
bought freely and as offerings from pack,
ing interests were limited prices were forced
upwards Shipments of meat and lard were
heavy. January pork opened 212c lower az
S8921S, advanced to $9.O5 and reacted 10
S9O2i5 at the close January lard opene0d
shade lower at $4.8212c and rose TO $4.Szz2'
| the closing figure. January ribs began 80 un-
changed at $4.521k and advanced to $4.OO at
Fstimated receipts for Monday-Wheat, $50
cars: corn $40; oats, 230; hogs, 1000 heao.
leading futures ranged as follows: