The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-11-05
RUSSIAN WHEAT CROP
OFFICIALLY REPORTED 10000, 900
BUSHELS OVER LAST YEAR.
Little Support to the Market and
Prices Closed at the Lowest
Provisions Unchanged.

CHICAGO. Nov. 4.-When Russia's enor-
nous wheat crop was officially announced
to-day the urgent foreign demand and ev-
erything else of a bullish nature dropped
out of sight and prices dropped back to
the low point OF the session. December
closed 1850 under last nights prices.
Corn lost CSC. Oats declined Ac. Pork and
ribs unchanged and lard a shade lower.
The foreign news having nothing sug-
gestive of war, and French and English
government securities being each fraction
ally higher at the opening, wheat started at
a decline ranging from &c to &c. That
brought the market Immediately under the
influence of puts, and buying on the Sc
cuI1ty afforded by those privileges was a
feature of the early trading. Liverpool
quotations came sd lower, and a private
cablegram said there was nothing but
retail demand for wheat in that market,
but quoted the feeling steady at the de-
cline. Broomhall reported Argentine crop
prospects unchanged AS the last previous
report stated that conditions were favorable
for a good yield, the Argentine news deep
ened the bearish impression under which
business commenced. Northwestern re-
ceipts were liberal, 1,O42 carloads, as COM
pared with $40 for the same day a year
ago, and the arrivals here, 289 cars, were
double that Of the corresponding day last
year. Heavy clearances from the seaboard
and report from New York that some
wheat offered abroad last night had been
accepted were about the only live scenes in
favor of the bulls. Small offerings direct to
Liverpool from Chicago were also taken.
This was not sufficient to wake up the de-
spondent bulls, however. and the bears were
left in control of very small market dur
ing the early trading. Later in the day
further comfort was given the bulls when
Chicago shippers reported having disposed
of total of $4,000 bu for export, and New
York said so to IS boatloads had been
worked there and at out ports. The days
| clearances of wheat and flour from Allan
| tic ports amounted to 945, 900 bu. About fif-
teen minutes from the close it was an
nounaed officially from Russia that this
years, wheat crop was 12O,OOOOOO bu larger
than last year, and that the crop of rye
exceeded that of a year ago by $4,000 900
9u. mat onset the effect of big shipping
| demand, and prices dropped back near the
| low point of the day. Z December opened
| 9sQAc lower, at $4M66c, sold at 65$4 G65Bc,
| closing price.
Increasing receipts and fine weather for
| further enlargement of the movement
| from nrSt hands burdened corn. There was
| also an absence of foreign demand, and ele-
yator people sold extensively. Receipts
were ooI cars. december began Ac lower,
| at &c. sold up to 321sc and declined to 31Bc,
| buyers, closing price.
Oats shared in the apathy which charac-
| terized other grains. There was some SELL
| ing by oatmeal manufacturers, but fluctu-
| atoms were of the narrowest kind Re-
| ceipts were 271 cars. May started 1s0Ac
| down, at 2434@247sc improved to 247sa25c
then declined to 24a4c, buyers, the closing
| figure.
| Heavy buying of lard strengthened pro-
| visions early. Later, however, the advance
was lost on liquidation by prominent pack
ers., 1t was largely a changing market,
uary. January pork opened 21ac up, at SO. 10,
| declined to sos, advanced to 1918, then re-
| acted to $9.0112 at the close. January lard
| began 21ac higher, at $5.05, sold off to So,
rose to $40 then weakened to $5.O21a605. 05,
the closing figure; January ribs started I'M
| changed, at A.6715, sold at $4.65. up to $40,
then back to $4.65Q46715 at the close
Estimated receipts for to-morrow-Wheat,
$50 cars corn, 600 cars; OATS $50 cars; hogs,
| 10000 head.
! Leading futures raneed ne foIlnrus.