The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-12-23
CORN At THE HIGH POINT
CHICAGO MARKET AGAIN RULED BY
STRENGTH IN COARSE GRAIN.
Enormous Realizing Sales Prevented
Wheat from Scoring a Further
AdVance-POrk Higher.

CHICAGO. Dec. 22-Corn to-day again led the
markets and at the end of an unusually active
session showed advance of sc, the ruling price
being the highest for many months. Wet weather,
strong cables and an excellent foreign demand
caused heavy buying. Wheat was influenced a
good deal by corn, but heavy realizing prevented
any advance the market closing 1sc lower Oats
advanced 1sc. Provisions were strong and closed
$4,000 higher.
The opening in wheat was at a shade under
yesterdays closing price, May starting at 67A@
672sc. 1t sold almost Immediately at 67lsc. Yes
terday's sharp advance caused a good deal of
profit-taking. The demand, both from local trad
ers and from the outside. unusually good,
however, and offerings were soon absorbed The
demand continuing good, prices advanced steadily.
May reaching 6Ss4c. Commission houses were
heavy buyers indicating a broadening interest in
the market. But perfect flood of selling was
caused by the advance. Offerings were so heavy
that the large demand was insufficient to pre-
vent a break and the price fell to 6Shc almost as
fast as it had previously risen. For time
following the decline the market showed consid-
cradle nervousness and prices huctuated rapidly.
Trade in the meantime also slackened. Before
neon another sharp advance took place, influenced
partly by the frmness in corn and partly by
strong continental cables accompanied by reports
CT better demand in foreign markets The adj
carried the May price up to 6S7sc. At that
figure longs fairly tumbled themselves in
eagerness to realize and the price dropped swiftly
to 6S@6Sisc. Prices changed a great deal during
the latter part of the session, but in a narrower
range and at the close May offered at 6SAc.
Northwest receipts 745 cars, compared with
70 last week and 407 a year ago Chicago re-
cepts were 144 cars, eight of contract grade At
lantc port cearances amounted to 900 bushels
Corn strong all day in spite of the heavy
realizing by local holders. The market was over
calls and had to absorb the selling against those
privileges also but everything offered was
snapped up Trading exceedingly active from
the start. The country heavy buyer TAX
ing most of the offered by local bulls. Cables
were strong and higher and receipts were light.
| S6S cars. Cash business was small, owing to the
| inability of shippers to get The unfavor-
able weather was distinct help to the market
| Export sales were placed at thirty-five loads May
ranged from S69s@S6%c to S7%@S71ac and closed
| asc higher at 37G3715c
Oats very quiet compared with other mar
kets, speculation dragging at times. The country
| was the chief seller local bulls doing the most
| buying Sympathy with corn was the principal
influence. Prices a little higher most of
the session and the market closed firm. Receipts
were 24 The cash business restricted
| by the famine. May ranged from 26%c to
| ZINC and closed 1sc higher at 2S$c
| Provisions were active and strong Light hog
receipts and stronger yard prices. with the firm
| ness of grain markets, the factors. The de-
mand for all products, both from local specu-
| lators and the outside very good and liberal
offerings readily absorbed, the market adj
vancing steadily and closing strong. At the close
May pork 1712@20c higher at $4,000 921z,
May lard 71aG1Oc higher at S5.421k, May ribs sc
| higher at $3.50.
Estimated receipts for Friday-Wheat, 127 cars;
| corn, 465 cars; OATS 232 cars; hogs, 2S, 900.