The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-01-18
FIRMER CABLE NEWS
RESULTED IN ADDING STRENGTH TO
ADULL WHEAT MARKET.
Other Grain Was Weaker and Clos
ing Quotations Were Lower
Pork Scored SC Advance.

CHICAGO, Jan. I.-Wheat though dull,
was firm all day. and showed ssGlsc adj
vance at the close. Firmness at Liverpool.
a large visible decrease and growing dis
belief in large Argentine exportable sur
plus all contributed to the strength Corn
was weak and closed a shade lower oats
showed slight closing advance and pro-
visions left off unchanged to sc higher.
Influential news of any kind was scarce in
the opening of wheat The unexpected firm
ness developed at Liverpool was the most
prominent feature. The course of that
market attracted a great deal of attention
and was directly the cause of an opening
advance here and fruitful source of COM
fort to the bulls throughout the session.
Opening prices for May ranged from 90a4c
to 90zsc, against Saturdays final price of
9012c. little realizing by scalpers caused
a momentary drop to 9O5sG9O4c, which
proved the low point of the day. Then
moderate but steady buying carried the
price slowly upward and about noon 911sc
was asked. Liverpool showed from Esd to
Id advance at the opening here, although
it had started at q slight decline and that
advance was in the main held to the close.
A New York house reported bids received
from Mannheim, Germany, and Antwerp,
Belgium, for wheat at prices cents above
what they were willing to pay a few days
ago. Argentina wheat is usually shipped
heavily to those countries and it was in
ferred that offers from the South American
country were falling off. That was given
as the explanation for the strength at I4iv-
erpool also. Receipts at Minneapolis and
Duluth to-day were 535 cars, against 534
the Monday previous Chicago received
twenty-eight cars, only three OF which were
contract. The visible decreased 1,O25,OOO
bushels, leaving the total at 81 $4,000 bush
els against Ia 1900 bushels decrease and
total of 81, 459 900 bushels at the same time
last year. The big decrease lent additional
Strength to the market. Worlds shipments
of wheat and flour last week were officially
reported at 100000 bushels without any
from India. The previous week they were
1885, 900 and year ago 4,132,00J bushels The
days domestic exports of wheat and flour
from Atlantic ports equalled 100000 bushels
The Indiana state crop report was rather
favorable. During the last hours of trad
ing a little realizing was done, sufficient to
cause reaction to 90BQ91c, the market
closing steady at that price.
Corn was very dull, the market during
the morning being inclined to firmness in
sympathy with wheat. Later in the session
the almost total absence of support prices
We're easily depressed. The close was weak
May ranged from 2slsc to 2S3sc, and closed
a shade lower at 2S1sM29c
Oats were fairly active for while after
the opening and firm feeling existed the
buying being chiefly influenced by the wheat
firmness There was good demand for
New York account. The market became
quite dull towards the close. but prices held
steady. May ranged from 23a4c to 2S9sc and
closed a shade higher at 235sM23
Trading in provisions was of moderate
volume and mostly at an advance. Cudahy
was good buyer during the morning and
this and few outside orders caused. some
advance. Realizing was quite free later and
a reaction took place. At the close May
pork was sc higher at $40, May lard UNI
changed at $4.75 and May ribs 212c higher
at $40
so cars; corn. 440 oats, 265; hogs, 600 head.
Leading futures ranged as follows: