The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-12-10
STRONG GRAIN MARKET
ENORMOUS CLEARANCES HELPED
BOOST THE PRICE OF WHEAT.
Opening Quotations Were All Weak
on Lower Liverpool Quotations
Provisions Higher.

CHICAGO, Dec 9.-Wheat to-day turned strong
on the enormous seaboard clearances and indca-
tions of falling off in farmers deliveries in the
Northwest. The market closed strong at A@1zc
advance over yesterday closing prices. Corn and
oats were both dull and prices unchanged. Pro-
visions advanced slightly.
Wheat opened weak and lower. Liverpool news
overshadowed everything at the immediate open
ing That market showed declines ranging from
Ssd to I'D, very emphatic response to yester-
days weakness in this market It's effect
marked, though not very lasting. Quantities Of
May were offered at the start at 645s664a4c, COM
pared with yesterdays closing price of 647sc, but
many takers were found at those figures that
the price jumped almost Immediately to Csc. There
the market hung for a time. with quite a fair
business doing. December in the meantime de-
veloped great strength. Opening sc lower at 62s
Q62&c, the market advanced very quickly under
strong bidding by recent sellers and by the gem
eral crowd, the price being jumped to 6SAc before
halt called by the scapers. who too
much profit in sight to resist realizing. To
count for the unexpected show of strength by
December it said that fast wheat is
being delivered December contracts it is being
ordered out aIl-rail by shippers Indications of
falling off in farmers deliveries in the Northwest,
long looked for also encouraged buying. Mime
apolis and Duluth receipts to-day s67 cars.
compared with 1,26S last week and 62S a year ago.
Chicago receipts were 141 cars. eight of contract
grade. The decline in Northwest receipts
commented on from the fact that the weather is
especially favorable for shipping Later in the
day still more strength was given the market by
the heavy Atlantic port clearances, amounting in
wheat and flour to 1.2O7, 900 bushels. After the
first buying Juror had been satisfied the market
became dull, but frightened up again the
clearance figures, all classes of traders coming
int fho h.aip in
covering their contracts. Late Argentine reports
to the crop condition in that country were
again unfavorabe. The buying enthusiasm was
somewhat checked by the closing cables, which
showed weakness in all foreign markets, but the
reaction was slight, shorts taking advantage of
any impression to cover. May closed at 651sc and
December at 635sc.
Corn was dull and heavy during most Of the
session. The market opened slightly lower partly
through sympathy with wheat but principally on
account of the cold weather. which was expected
to improve the grade of new corn. Weak cables
also had some influence The advance in wheat
was responded to in degree, but the market
soon became weak again on large selling by i'm
portant long interests, and very little buoyancy
was shown after that. The cash demand was a
little less urgent. Receipts light 2sS cars.
May ranged from 1850 to S3A9S3%c and closed
unchanged at 3334c.
The market for oats decidedly dull. Beyond
the usual scalping transactions not much
done until late in the day, the crowd apparently
taking no interest. There was some important
commission house selling near the close, but the
market held steady under it. Receipts 296
cars. The cash demand good May ranged
from 2524c to 26c and closed unchanged at 257sc.
The provision market almost as uninterest-
ing as oats. Offerings small. notwithstand-
ing another heavy of hogs, but everything
was taken Of buyers appearing to have con-
fdence in higher prices. The export demand
showed Improvement The range of prices was
very narrow. At the close May pork was 215c
higher at $9421a May lard 215c higher at So % and
May ribs unchanged at $4.72ll
Estimated receipts for Saturday-Wheat, 1870
cars; corn $50 cars; oats. $50 cars hogs, 80 OOO
Leading futures ranged as follows: