The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-12-01
AN OVERLOAD OF WHEAT
MORE OFFERED THAN WAS All
sORBED AND MARKET DECLINED.
Holders of the December Article
Have Sold Heavily - Provisions
Stronger, All Lines Advancing.

CHICAGO, Nov. 30.-Liquidation of December
wheat by discouraged holders was the feature OF
to-day's trading on Change December closed at
2SQkc decline and May sc under yesterdays
price. Corn closed SGAc lower Oats closed
shade higher. Provisions advanced 719@1Oc.
Opening prices in wheat showed slight recess
sions from yesterdays closing figures. May start
ing 1bc lower at 5s4G657sc and December sc
lcwer at GJssc Trading was remarkable only for
its extreme dullness The early news was of
decidedly bearish character bat it did not result
in much increase of liquidation during the morn
ing. There was, however almost total lack
OF support and for time following the open
ing the market showed a dropping tendency. May,
after selling at 653sG66c Immediately after the
opening slowly declined to 65&c. December
showed buoyancy Whatever. 1t declined to
$3.50 and maintained with some difficulty at
that point. Liverpool by the time trading com
menced here showed 1S@5sd decline. Minneapolis
and Duluth receipts were LILA cars. compared
with S2S last week, when railroads were partly
blockaded, and us year ago. Chicago receipts
were 1913 cars, fifteen of contract grade. About II
o'clock a moderate buying demand was caused by
the excellent local cash business and reports of
heavy seaboard engagements for export, and for
hour prices, after advancing slightly,
were we'll maintained. May reached the highest
point Of the day, 66Ac, about 11:30 o'clock and
DeCeIllDeT netu comparatively ufm at 6014c sales
Of 10000 bushels for export reported here
and New York reported so loads engaged. Later
this was increased to 100 loads. Total Atlantic
clearances were put at S92, COO bushels. Coarse
grains exhibited strength about this time.
which a further assistance. In the last hour
of trading the market grew quite weak again and
continued to the close. During this time
liquidation of December by tired local holders and
by outside interests became prominent. There was
also selling by elevator interests Of both December
and May. Bulls evidently discouraged at the
difficulty in maintaining prices and threw
all the market could carry and more too. Deem
Der declined to 65B@65Ac and closed at 65A@652sc.
May sold to 651sq65%c and closed at 65s4Q657sc.
Corn irregular. Starting rather weak be-
cause clear, cold weather prevailed the market
became stronger on the excellent cash and export
business and on storm predictions and a fair ad-
vance was scored. This was maintained until
late in the session, when the slump in wheat
started liquidation and the advantage was lost.
Receipts were light 176 cars. The seaboard
claimed ninety loads taken for export There was
good demand for December from shipping
houses. May ranged from S4lsc to S45sc and closed
A@Ac lower at 34A034$sc.
good business done in oats. The interest
conferred in the December delivery, which jumped
a cent as the result of little buying. The bull
| ish factors were light stocks and the small
| country movement. Receipts were $50 cars. Best
| prices not maintained, but the market was
| stealy at the close. May ranged from 261kc to
| 267sq27c and closed shade higher at 26%
Provisions were exceedingly strong considering
| the unfavorable surroundings. Hog receipts were
large, but offerings of provisions were very small
even from packers, indicating that packers needed
all supplies to fill earlier sales. Room traders
were moderate buyers of the more distant futures.
At the close January pork was 1Oc higher at
$9.1714 January lard TIC higher at $5O5 and jan
| uary ribs 71ac higher at $465.
Estimated receipts for Thursday-Wheat ITO
cars; corn 275 cars; oats, 1870 cars; hogs A. 900.
| Leading futures ranged as follows: