The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-10-29
DROP IN WHEAT PRICES
CONSIDERABLE WEAKNESS DEvEL-
OPED At HOME AND ABROAD.
The Market In a Rut Most of the Day
and Trading SmalI-PrOvisiOns
Scored Declines.

CHICAGO. Oct. 2s.-weaker cables to-day and
slack export demand caused a decline in wheat
December closed l2Gssc lower Corn and oats
lost &c. Pork declined TIC end lard and ribs
sc each.
Owing to a considerable drop in the Liverpool
prices and a prevailing impression that the diff
hculty between England and France would be
amicably arranged December wheat here started
weak at from &c to sc below yesterdays close.
That much having been topped off at one swoop.
the market for two hours thereafter made des-
perate but on the whole unsuccessful efforts to
recover some of the sudden loss. The buying dur
ing that time sufficient TO prevent any
further decline. although those who took the
wheat chiefly induced thereto by the possess
sion of puts either good for the day the week.
For an hour during the middle of the session the
range of fluctuations in the December wheat was
from 661sc sellers, to 661sc bid, the best ilustra-
tion that could be presented of the into which
speculation had dropped. The news in the main
was bearish. but not entirely without crumbs
of comfort for the bulls. The clearances of wheat
and flour from the Atlantic and gulf ports were
very heavy. amounting to an aggregate of $40, 600
bushels, and New York reported 100000 bushels
of wheat sold for export to Brazil. Chicago re-
ceived 23S cars against 40 for the same day last
year. Northwestern receipts were 10S3 cars. as
compared with S73 for the corresponding day a
to the effect that the movement would continue
TO be liberal with favorable weather. Primary
Western market receipts 1.433, 600 bu against
LOGS, 600 bu the corresponding day last year. New
York reported acceptances of yesterday $
cabled offers and bids to-day at workable
limit. December opened la@ssc lower at $3.50
G6Ac, declined to 65%d66c. advanced to 66ss@
66l3c, then reacted to 66b@e6hc. sellers, the clos
ing price
Ar ixaN~
creased offerings from the interior caused an
easy feeling in corn. The decline in wheat was
also consideration. There was considerable SELL
ing of long property and prices suffered slightly
in consequence Shipping brokers complained of
the market being out of line with the bids from
the seaboard. Receipts were 2S7 cars. December
opened bQHc lower at 32hc rose to $3.50, de-
cined to acc, then rallied to 32A@32ssc, sellers,
the closing figure
Small receipts, 146 cars and good cash de-
mand account of the demorazed rail rates
held oats firm. May began h@Ac down at 2iAc,
advanced to 242sQ24l2c and closed at 24ssc.
Liberal receipts of hogs and slight falling
off in the cash demand. together with the decline
in grain. weakened provisions. Packers sold quite
freely, causing a small concession in prices gen.
orally. January pork opened sc lower at 50, adj
vsnced to s9.C2lz, sold off to 1896 and closed at
sS.97i5. The range in lard and ribs was very
small.
Estimated receipts to-morrow-Wheat, $50 cars;
corn 305 cars; oats, 10 cars; hogs, e, 600.
Leading futures ranged follows: