The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-11-04
MORE PEACEFUL NEWS
ENABLED SHORTS TO EFFECTIVELY
HAMMER GRAIN MARKETS.
Wheat and Corn Were Both Weaker
from the Start-PrOvisiOns Scored
Gains in All Lines.

CHICAGO, Nov s.-Nfore peaceful news from
abroad to-day and a slack export demand. to-
gether with a heavy increase for October in
European stocks. caused decline in wheat. De-
cember closed lose lower Corn lost 1sc. Oats
advanced Ac. Pork left off 215c higher lard 21s
Csc and ribs 21zc higher
Wheat opened weak enough to suggest that an
of universal peace had suddenly supplanted
the late protracted period of clouds. English
government securities, however. opened somewhat
lower than they closed the day before and ac-
cording to rumors floating around the pit. Eng
land appeared to be spelling for immediate
tussIe with Russia as well as France. An inkling
of what subsequent cabegrams revealed must
however. have been known to some traders who
at the start had December wheat for sale at
from Ac to &c below last nights close. Some of
the early selling doubtless due also TO the
appearance of fine weather and the probable effect
in prolonging the time of heavy deliveries by
farmers Chicago receipts were 313 cars COM
pared with 116 the corresponding day of last year.
while Minneapolis and Duluth got 1901 cars
against 1, OBJ a year ago. Primary Western
ket receipts aggregated 1886 Oo blu, against
3,OOO a year ago and 12SS OGO for the same day
last week. The Atlantic and gulf ports elearances
of wheat and flour were equal to 500, 900 bu. New
York reported foreign acceptances comparatively
light. both from the United Kingdom and the
continent. The opening decline in prices here per-
nitted the working of Sc 900 bu No Northern
for shipment to London. A Liverpool cablegram
reporting Odessa stocks of wheat officially to be
900 bu, instead of only 3. 100000, re-
ported at the end of October, had considerable
bearish influence. Another depressing feature of
the days news Beerbohm's statement, which
made European and on passage stocks of wheat
and -four $780, 600 bu larger than estimated Oct. l.
December opened Ad2sc lower at 66%@66zc, de-
clined to 665sc, advanced to &c, then reacted to
66Ac At this low figure holders of put privileges
had profit and in trying to secure profits adj
vanced the price to 66l4Q669sc. Sellers at the
close.
Trading in corn not of an important char
acter and although the feeling rather heavy
at times account of the declining tendency of
wheat, the loss for the day was all accomplished
ct the start. The fine weather was suggestive Of
increased offerings from the country in the near
future and the estimated number of cars for in
spection favored the same idea. The shipping de-
mand light, but the strength displayed by
oats maintained prices. Receipts were 44S cars
December opened &c lower at 32lsc declined to
S20321sc, advanced to 32c and closed at 324c
buyers.
Oats particularly active and decidedly
strong at times Continued light receipts and a
good general cash demand inspired heavy buying
Of futures. Receipts 217 cars, or consider
ably less than estimated May began shade
lower at 245s@24Ac advanced to 251sc and closed
at Csc, sellers.
Liberal hog receipts and the weakness in grains
started provisions weak. There were more buyers
for the offerings, however, than could be supplied
at the lower figures. Buying on moderate scale
continued even when prices rose beyond yester-
days closing prices January pork opened &c lower
at 50, advanced to $91218 then reacted to $9071s,
buyers. January lard started shade lower at
A971s, declined to $4.95, then advanced to $5O21s
buyers, the closing price. January ribs began 212c
lower at $4.6212 rose to %.Ul1zQ47O and closed at
$46755. buyers.
Estimated receipts for to-morrow-Wheat 300
cars corn, 576 cars oats 217 cars; hogs, 81, 900.
Leading futures ranged as follows