The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-10-31
AN IMPROVED DEMAND
FURTHER SLUMP IN
WHEAT, WHICH CLOSED WEAK.
Coarse Grain Gathered Strength from
SnOwstorms i'm NOrthwest-PrO-
visions Made Small Gains.

CHICAGO, Oct. 29.-An improved export
demand to-day and stormy weather
throughout the Northwest caused a recov-
cry from an early decline in wheat prices.
December closed unchanged to 1sc lower.
compared with yesterdays final figures
Corn left off a shade higher, oats advanced
Nc pork gained &c, lard 2l5c and ribs un-
changed.
Wheat got a weak start from an apparent
disposition at Liverpool to chime in with
the bearish sentiment prevailing here. The
firmness of English government securities
also contributed by their strength to the
desire to sell wheat here at the opening.
Prices continued to drop throughout the
forenoon, despite the considerable buying
against puts that the opening decline
brought into play. Northwest receipts were
liberal. 1,4l1 cars, but a snowstorm was re-
ported to be prevailing in the Dakotas.
which created apprehension of bad roads
and consequent falling off in receipts in
that region next week Some buying of
short wheat was done because of that pos
sibility. The seaboard reported a fair de-
n.and for export and New York advised
sales of thirty-five boatloads, of which one
cargo was for Russia. The weeks ship
ments of wheat and flour from both coasts
were equal to 7,550,100 bushels, compared
with 5,S11,0 bushels the similar week of
last year. The days clearances from At
lantic ports were equal in what and flour
to $4,000 bushels. Near the end a large
line of cash wheat was disposed of here for
export to the United Kingdom right at the
market price. When that became known
the sentiment among traders quickly
changed. In the endeavor to recover that
followed the price forged ahead and the
early loss was all recovered. December
opened &c lower, at 65%@66c advanced to
661sc, declined to 655sc, rallied to 661sc, de-
clined to 65ssc, rallied to 661sq66Ac and
closed at 661sc. buyers.
Fine weather and lower cables weakened
corn at the start Moderate selling brought
about these features, and in face of very
limited offerings easily depressed prices.
Later, however the market became strong
on a good business and reports from the
country that the weather was threatening
a return of conditions unfavorable to the
curing of corn. Near the close the buying
became more pronounced and prices wound
up at slight advance. Receipts were 257
cars. December began Ac down, at 800
321sc, declined to S17sc, recovered to $3.50
321ac and closed at 329sc, buyers.
Oats derived their strength from the firm
ness in the shipping situation Cash held at
a strong premium over May, and there
was a fair speculative trade in futures.
Receipts were POS cars. May started
shade lower, at 2414@A3sc sold at 2414c, then
advanced to 245sc, the closing price.
Provisions ruled fairly steady on a light
speculative trade. and liberal hog, receipts.
1t was reported that 2,500,OO0 pounds of ribs
were disposed of yesterday on October con-
tracts, but. contrary to expectation, this
announcement did not have much influence
on the market. January pork opened PIC
up, at 50, rose to $902h, declined to $3.50,
then recovered to $9.0213, the closing price.
The range in lard and ribs was small.
Estimated Jeceipts for Monday-Wheat,
3O7 cars; corn, GA cars; oats, pa cars; hogs,
$1,000 head.
leading futures ranged as follows: