The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-12-06
WHEAT TRADE LIMITED
PRICES FLUCTUATED, WITH A GEN
ERAL TENDENCY DOWNWARD.
Corn Held It's own Throughout the
SessiOn-PrOvisiOns Were Strong
and Steadily Advanced.

CHICAGO. Dec 5.-Business on Change to-day
was pared down to very small proportions 10y the
interruption to wire facilities by the recent storm.
and the tendency of grain prices principally
for this reason slightly downward Wheat closed
A62sc lower, corn unchanged and oats 1ic lower.
Provisions, however, were firm and closed TAG
17izc higher.
Wheat was lower from the start Nav opened
at 66Q661sc decline of 1s9Ac from Saturdays
closing price, and in the first few minutes of
trading dropped to 657sc. Telegraphc communica-
ton with the East was seriously interrupted
account of the recent storm, but enough news
fitted through to show the general drift of specu-
lative tendency abroad and at the seaboard. 1t
decidedly bearish and this market af-
fected accordingly. The lack OF wire facilities
also seriously interfered with business, almost no
orders either to buy or sell coming from the
outside and the market in consequence was ex-
tremely dull. This in itself had depressing ef-
feet prices, but also kept them within mar
row range. Liverpool was 1s@24d lower and re-
ported an increase in stocks for the week of about
rs, 900 bushels. Beerbohm estimated the worlds
shipments of wheat and -four at about 100000
bushels about 900 bushels of Which came
from other countries than the United States and
Canada The quantity afoat for Europe was
estimated to have increased S.50O,OOO bushels
Northwest receipts were heavy, notwithstanding
the unfavorable weather. Minneapolis and Duluth
reporting 1647 cars, compared with 1888 last week
and 1,315 a year ago. Chicago receipts were III
cars of contract grade. slight reaction
followed the decline to 657sc due to little buy
ing against puts by the local crowd, but this was
soon satisfied The May option sold up to 66c,
however, and remained close to that price for the
remainder of the session. 1t once touched $500
$3.50, but got back again to 66c, which price ruled
fTvv
entirely in the hands of the local talent and their
operations We're so limited that the pit at times
presented almost deserted appearance. May
closed at 657s@66c.
Corn was a little more active than wheat, but
trading was limited. The market early was easy
on lower cables. cold weather West, which was
regarded as favorab for the movement and sym
pathy with wheat. Later some reaction occurred
on bids for cash corn at 1c premium over Deem
ber but the market eased off again on heavy esti-
mated receipts for tomorrow. Receipts were 476
cars. Business was almost entirely local. May
ranged from S41sc to S4asc and closed unchanged
at 34AQ943sc.
Oats were weak and lower. Large receipts had
a good deal to do with the break in prices. re-
ceiving houses being generous sellers. Cash mar
ket was also weak, with prices fully a cent lower.
Receipts were 564 cars Prices recovered some
what toward the close on commission house buy
ing May ranged from 26c to 269sc and closed
Nc lower at 261lc.
Provisions were moderately active and strong.
Hog receipts were much less than expected which
neutralized any influence the breaking grain mar
kits MIGHT have had. Packers were only moderate
sellers and the speculative demand was good.
Prices were high at the start and continued to
advance during the session, the market closing
strong. May pork closed 1715c higher at $9.57lz,
o. OO1I ,riI,, Ia
higher at s4.524
cars corn, 700 cars; oats, 42O cars; hogs $500.
di,,c, f,rt11r Cd rs fnIln