The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-11-11
A WEAK WHEAT MARKET
MORO PEACEFUL EUROPEAN RE-
PORTS AND POOR CASH DEMAND.
Leading Cereal Mt Chicago Declined
Over "a Cent on General Selling
-PrOvisiOns Unchanged.

CHICAGO, Nov. 1O-wheat to-day closed
at a decline of 1Q11sc. The more peaceful
tone of European political advices and a
poor cash demand made weak market all
day. Corn lost Aqssc. Oats closed a shade
lower. Provisions are practically unchanged.
Wheat started weak. Opening transactions
in May were at 66ls666Ac, compared with
yesterdays closing price of 665sG66s4c, and
further slight decline soon occurred, several
small lots changing hands at 66G661sc. The
trade was under the influence of Liverpool.
That market was quoted sd lower, and ad-
vices from there attributed most of the de-
cline to the peaceful tone of Lord Sails
burys speech last night Traders there had
been expecting something entirely different,
and with the strain relieved gradually
dropped. New York reported small de-
mand from foreigners for American wheat,
hut this was looked for, it being argued
that, with the European war cloud removed,
the buying from that side would be con-
fined to current wants. Northwest receipts
were fairly heavy, Minneapolis and Duluth
reporting 1,027 cars, against 1,2O1 last week
and $40 year ago. Chicago receipts were
ga cars, sixty-seven of contract grade. Up
to 11:3O o'clock the trading was dull There
was some buying against puts, and this and
more favorable seaboard advices as to the
foreign demand sustained prices. Gables
announcing closing quotations abroad, how
ever, knocked the pinning from under the
market and prices dropped in a hurry. A
0V centlmes decline in American wheat in
Antwerp, equivalent to 29sc a bushel, started
free selling, the price Of May tumbling to
6512c before 1t was discovered that the re-
ported Antwerp decline was an error. The
market stiffened up a trifle after that, but
soon weakened again and remained so to
10000 bushels spot wheat at size below Chi
cago prices, said to be a greater discount
than has previously ruled this season, and
this took the enthusiasm out of buyers. At
lantic clearanceS were S75, coo bushels. Pri-
mary receipts amounted to 1910, 900 bushels.
Sea board reported fifty boatloads taken for
export. May was quoted at 651AQ655ac at the
close, with more sellers than buyers
Corn was dull and lower. Receipts were
heavy, Notwithstanding bad weather, and
cables were lower. The trade had also in
mind the government report, due tonight
and expected to be bearish. There was con-
siderable liquidation by scattered longs and
prices ruled lower from the start. Receipts
were 764 cars. Seaboard demand was good.
May ranged from $3.50 to 3311c and closed
A@ssc lower, at 1914 I3311ac.
Oats followed wheat and corn and ruled
slightly lower. There was a moderately
large business done. Liquidation by prom
inent local traders was a feature. Cash
demand was very poor. Receipts were 1902
cars. May ranged from 24A to 2412c and
closed a shade lower, at 249sc
During most of the session provisions were
dull and weak Starting steady with an
Improved hog market, prices weakened rap
IDLY under selling by packers and material
sion the market became firmer under cover
ing by shorts and declines were recovered.
At the close January pork was unchanged.
and ribs shade lower, at &571k
Estimated receipts for Friday-Wheat, 1870
cars; corn. 1886 cars; oats, 146 cars; hogs,
Leading futures ranged as follows: