The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-11-26
WESTERN MARKET DULL
BRIEF SHOW OF STRENGTH IN
WHEAT ON OPENING IN CHICAGO.
Afterwards Lack of Demand and Bear
News from Liverpool Depressed
Prices-PrOvisiOns Declined.

CHICAGO. Nov. 25.-An the grain and
provision markets appeared to be suffering
from too much turkey and mince-pie trim
mings to-day. Dizziness was the rule and
prices declined. Wheat shows a loss of ia
1sc. Corn closed 1sc lower. Oats are a
shade lower Provisions declined 21aG5c.
For few brief moments following the
opening wheat made a show of strength
somewhat surprising, in view of the weak
ness shown by foreign markets. Liverpool
advised a decline of 34d before business
started here, and London reported English
and foreign wheat difficult of sale at a de-
cline. The cash situation, however. ap-
parently overshadowed foreign weakness
for the time being. A reported sale of $4,000
bushels of cash wheat at st. Louis for inn
mediate shipment, an amount one-half of the
total available supply at that point, caused
moderate amount of covering by the
small fry, and in the absence of any particu-
lar selling pressure the opening prices were
maintained for short time. May started
1sQ4c higher, at $685. 0667sc, December OPEN
ing unchanged at 6712Q675sc. But the market
soon turned weak. Perhaps the biggest fac
tor in trading was the figures on the Argen-
tine exportable surplus. They were widely
at variance, London cables giving the est-
mates at from 100000 to &C 900, 600 blu. But
even the lower of these amounts was far in
excess of last years exports, and this fact
had its effect. Northwest receipts were
1,463 cars, compared with 1525 last week
and 1542 a year ago. Chicago receipts were
131 cars, two of contract grade Though
showing some falling off, the receipts were
heavy enough to suggest that the hindrance
to country shipments caused by the late
storms had been about overcome. Up to
oh 80
The biggest traders favored the bear side,
and their selling, though not particularly
heavy, was influential in causing scattered
nquldatlon by the crowd and in contracting
me buying demand. December developed
the most weakness, selling off to &C. May
declining to 66$sW6612c The market showed
signs of recovery for a time following the
decline. There was a large cash business
done here 100000 bu being reported taken,
t5heugh 26O'OOc bu were all that could be
d dfdiItd confirmed T and the seab9ard
stopped the liquidation in a degree and en-
couraged the buyers, prices recovering to
6!1sQblAc Tor December and to 6155Q61Ac for
May. But in the last half hours trading
support was almost totally withdrawn from
the market, although nothing new of a bear
lsh nature developed, and prices slowly de-
clined. Final prices were near the bottom,
DECEMBER closing at 667sc and May at 663s
Q661sc.
Corn was weak during the greater part of
rather a dull session. Local bulls did con-
siderable in the expectation Of a larger move
held the market at the start. The seaboard
reported Sixty loads taken for export, and
a good local cash business was done. Re-
ceipts were 225 cars. May ranged from 241sc
to 3412c, and closed sc lower, at 34Ac.
Oats were extremely dull, but rather firm.
considering the weakness of other grain mar
freight rates was a factor, enabling ship
pers to keep oats moving east. Receipts
We're 1S3 cars. Cash and export demands
were good. May ranged from 261sc to 261ac,
and closed a shade lower, at 263sc.
Provisions were dull and a shade lower,
mostly in sympathy with corn There was
some outside buying, but packers offered all
the market could absorb. Heavy receipts
are expected next week, and this hau its
every slight rally. Cash demand was good.
At the close January pork was sc lower, at
SO 10; January lard 21205c lower, at $5Q5.O21a
and January ribs sc lower, at $515
Estimated receipts for to-morrow-Wheat,
200 cars; corn, $40 cars; oats, 235 cars; hogs,
3d. 900 head.