The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-12-14
GRAIN MARKETS STRONG
FALLING OFF OF RECEIPTS HELPED
IN SENDING WHEAT TO Gee.
Coarse Grain Was Active and Scored
Characterization Lost Early Adj
vances and Closed Lower.

CHICAGO. Dec. bah the grain markets were
strong to-day and closed at substantial advances.
In wheat the continued falling off in receipts in
the Northwest was the main factor. May and
December each closed about &c higher. Corn and
cats advanced about 15c each. Provisions closed
21kQ714c lower.
Opening prices in wheat were practically I'M
changed from yesterday May starting at 65h0
65hc. Northwest receipts were comparatively
small, but this was offset by a decline of SD
in futures and Id for spot at Liverpool. For a
few minutes prices about at standstill.
with very narrow trading, but the demand in
creased rapidly and inside of the first half hour
trading the May price had been hoisted to 659sc,
around which point it swung for the greater part
of the session. Shorts good buyers and
many longs acting on the belief that prices were
in for good advance. increased their holdings.
Apparently the rapid decline farmers deliveries
in the Northwest, as shown by the receipts at
Minneapolis and Duluth, overshadowed everything
else in it's influence traders. Argentine news
favorable and early reports from the sea-
board did not indicate very bright prospects for
= continued good foreign demand for American
wheat. one cable from Germany refusing offer
ings on the ground that Russia was offering wheat
under American parity. Nevertheless the local
sentiment was emphatically bullish and at
the good advance wheat ola not come out IN very
srea: quantities. Northwest receipts were Sal
cars, compared with 1881 last week and $50 year
ago. Chicago receipts DO cars, ten of con-
tract grade. Total primary receipts were 1,175
cars. TIE increase in the worlds visible was put
at 3,424, COO bushels about what was expected.
Last year the increase was less than 400. 900
bushels. Near the end of the session reports of
heavy shipping orders here for St. Louis and the
seaboard proved an additional stimulus to buying
and May which up to that time had been steady
at around 65%c advanced to &C., Some reports
put the Eastern shipping orders here high as
200, OOo bushels May closed firm at 657sH66c.
Corn was active and higher. Receipts were
fairly large 645 cars, while the weather was
favorable for shipping and for improving the quail
ity. Bulk of offerings not heavy. Local
bull traders bought aggressively. The wheat
strength had considerable influence. May ranged
from size to S45sc and closed Zee higher at S49sc.
Oats though rather dull, firm. Receipts
were large, sol cars, but the strength of wheat
and corn made shorts uneasy and caused a good
deal Of scattered buying. Offerings were not
large The shipping demand good. May
ranged from 26c to 261kc and closed 3s91kc higher
at 261Ac.
Provisions were rather wobbly. The demand
was very good, but hog receipts were heavy and
packers offered freely of all products. There was
also some realizing by recent buyers Liquidation
became lighter later in the day and the market
frned up somewhat. May pork closed &c lower at
S965, May lard 215c lower at $5.42h and May ribs
212c lower at $4.S7H.
Estimated receipts for Wednesday-Wheat, 100
cars corn, 425 cars oats, 245 cars hogs, SO, 900.
Leading futures ranged follows: