The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-10-17
WEAKNESS REAPPEARED
AFTER EARLY ADVANCES WHEAT
TOOK A SUDDEN SLUMP.
Brokers Trading Cautiously, and the
Market Neglected Most OF the
Day-POrI< Declined.

CHICAGO. Oct. 15.-With the demand for
-four subsiding and a temperance of the
weakness in cash grain in the Northwest
there was a disposition in the wheat pit to-
day TO act cautiously on the buying side and
prices were allowed TO sag. After an adj
vance at the opening December closed &c
lower. Corn left off unchanged to 1sc lower.
Oats declined 1sc Pork is unchanged to 2l5c
down, lard 2l5G5c higher and ribs un-
changed.
Before the opening reports were received
from Liverpool that the market had recOv
cred all that it had lost yesterday. The
news had an appreciate effect on the early
trading here, first sales being at an advance
over night of Ease. Though New York
continued 20 send reports of large export
engagements the news had much less in
fuence than usual, the prevailing opinion
being that reports of previous days this
week We're very much exaggerated and that
the advices to-day might be duplicates.
One unfavorable feature of the mar
ket, and one which had a great
deal Of influence in shaping the course of
prices, was the weakness in the cash grain
in the Northwest and reports from Mime
apolis of pause in the demand for flour.
Primary market receipts for the day were
1852, goo bu against ,203,0O0 year ago. Chi
cago received 275 cars, against 133 last year,
and Minneapolis and Duluth 1,122, as COM
pared with .ll2 a week ago and 1,176 the
corresponding day a year before. The re-
ports Of the export engagements at the sea-
board finally ran up to 1O6 boatloads. This
was entirely ignored, however. and the mar
ket continued to weaken during the last half
hour. influenced by the lack of speculative
demand and by free liquidation by discour-
aged longs. December opened Ac higher at
6514Q65ssc. ranged irregularly downward to
6412c and closed at 6415Q645sc.
A sharp upturn at Liverpool caused corn
early to sell at the highest price touched on
the present rise. Commission houses exc
cuted a fair number of buying orders, but
the demand proved insufficient to hold the
market, there being considerable property
for sale and one or two prominent elevator
interests selling quite freely. Receipts were
622 cars. December began 1s03s higher at
31hQ31ssc, declined to 307s and closed at
SO%@31c
There was quite lively trade for the first
hour IN oats and the market ruled strong
at advanced values. Later, however, almost
everybody had something to sell and prices
started on the downward path and finally
ending up at the bottom figure for the day.
May started 1sc higher at 231kc, sold up to
ZSs4 then fell to 2Sl4, the closing price.
An advance of &c in hogs at the yards and
more reassuring news regarding the yellow
IeVer situation in the South were the
strengthening influences in provisions at the
opening. The weakness in grain, however,
and. free sales by brokers and commission
nrms caused a substantial reaction later.
January pork opened 712@10c up. at $3.50,
declined to $9.1715 and closed at 1920. jan
uary lard started 5d71ac higher, at $5.O719,
weakened to $5,O212 and closed at $505. jan
rary ribs began 5@712c up, at $4 S0d4. S212,
held steady at 81. S21a, then off to $475 and
then rallied to $4.7719 at the close.
Leading futures ranged as follows: