The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-11-16
WHEAT'S BIG INCREASE
SUPPLY SURPRISINGLY LARGE AND
PRICES WERE DEPRESSED.
Cash Demand Strong and Heavy Elk
port Sales, but These BEIlish Fac
tors Were Overcome-PorI1 Lower.

CHICAGO, Nov. 15-Deciines of sc and Sc in
May and December respectively. marked to-days
trading in wheat 4 surprisingly large verbs
visible increase was the main factor and entirely
neUtIalzed the effect of an excellent cash demand
and heavy export sales Corn declined lsQssc.
Oats showed no change. Provisions declined
about PIC.
It was evident at the opening In wheat that
traders playing for higher prices were going to
have a hard time. Liverpool. instead of respond
ing to yesterdays advance, showed decided in
clination to so the other way and in this not
alone Paris also showing weakness. Liverpool
was sd higher to Esd lower and Paris 10 centimes
lower. May opened sGAc lower at 66lsGG6l.c
and December started sc lower at 665s Q6694c.
There were very few buyers of either option for
some time. while selling orders were large, es-
pecially in December, and prices were steadily
forced down, the first hours trading resulting in
May declining to Gee and December to 66Ac Be-
sides the weakness of cables bulls had to contend
with remarkably heavy Northwest receipts. pros
poets of a continuance Of the same account of
favorable weather and reports from New York
that many of yesterdays heavy buyers had turned
sellers. All this incentive to short selling
Minneapolis and Duluth reported 2,O39 cars to-day
Chicago receipts were S6S cars, thirty-one of
tract grade. Total primary receipts were 1896 900
prices took place the sale OF 100000 bushels Of
cash wheat here and the reported sale at New
York of 12S boatloads for export This caused
liquidation to stop or less and started cover
ing by the tmid shorts. December had
risen to 66ssc by noon and May had recovered to
66Ac. Bradsreets statement Of the worlds Wis
ible, however, threw a damper over the market
This showed an increase of 1913 900 bushels. The
figures much larger than had been antici-
pated and the market at became weak
Liquidation and short selling became quite heavy
again. During the last hours trading prices slow
ly but surely declined. May closed at 66Q661sc
and December at 66Ssc.
Corn developed considerable weakness There
was heavy liquidation by longs induced by lower
cables, fine weather West and the break in wheat
Short selling was general Receipts light, All
cars, and cash demand good, sales being placed
at about 100000 bushels. A good export demand
also reported May ranged from SS3sc to SSc
and closed hose lower at 3SBc.
Oats were relatively strong Cash prices were
at q premium over futures and an excellent de-
mand was reported. This was a big help to the
speculative market and though there small
decline early with corn, it was soon recovered
Receipts were 276 cars May ranged from A7sc
to 245sc and closed unchanged at 24%c.
Provisions dull and heavy. The market
felt the big receipts of hogs and the weakness in
corn. Packers were sellers of January product
most of the session. Late in the day the market
improved somewhat. January pork closed 212c
lower at 1886, January lard 21ac lower at Sass
and January ribs 21505c lower at $44712G4.5O.
Estimated receipts for tO-morrow-Wheat, IT'S
cars; corn. 275 cars; oats, 160 cars; hogs, 1000
Leading futures ranged follows: