The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-10-24
HIGHER WHEAT PRICES
CHICAGO QUOTATIONS INFLUENCED
BY LIVERPOOL ADVANCE.
Traders Who Had Sold Out Friday
Were Glad to Buy Back Saturday
provisions Declined.

CHICAGO. Oct. ga rather sensational
advance at Liverpool to-day in face of the
weakness here, yesterday, and an excellent
demand for cash grain from Europe adj
vanced wheat sharply. December closed Ia
11sc higher. Corn gained ssQl5c. Oats rose
1sc Pork lost sc; lard, 211c and ribs, sc.
An advance of 1ssG2d in t rice of wheat
at Liverpool and no notew decline in
consols made a decidedly st and higher
market for wheat here at the pening. Sales
for December were 1Q1Ac higher at 67Sl@6Sc.
and there was further gain of l4c shortly
afterwards. Accompanying the early news
from abroad was a New York report of
large additional sales for export and further
purchases of December futures by the ex-
porters There were reports of flour to
Italy the first on record, and also that
houses with Australian connections were
making inquiries for flour st. Louis, mean
while, advised that the bids from abroad on
wheat were &c per bushel higher than at
the close last night and Minneapolis re-
ported the wheat stock on hand there was
sufficient for only a limited period of grind
ing. Northwest receipts were 9O6 cars.
which was considerably lighter than last
week as the result of the recent rough
weather. Chicago received 1913 carloads,
all told showed liberal quantity of wheat
received. being 1.135. coo bushels, compared
with 1861, 010 bushels a year ago. The ex-
ports for the day from the leading Atlantic
ports were equal to $4,000 bushels. Under
these conditions shorts were forced to cover
and the fluctuations of December, the great
er portion of the day. were from 67S4@6S4c.
There was a liberal volume of business done
in the pit and 222, coo bushels No. 1 Northern
wheat was reported disposed of for export.
Near the end the war scare lost some of It's
influence when it was found that CONT
mental markets were all lower and British
consos higher and the price or December
reacted to 67s4@677sc, which was the closing
figure.
"A good export demand with renewed spec
ulatve buying melted by the wheat strength
and the foreign situation caused a strong
cember opened Zee higher at 32a32lsc, weak
ened to 3l1sc. then advanced sharply to 1925
@321ac, caused by an attempt of the shorts
to even up all trades for the week. There
was considerable taking of profits by longs
during the closing hour and the price was
forced to &c at the close.
caused a general increase of speculation in
oats and q substantial advance in prices re,
and 100000 bushels was taken here for ship
ment. Traders who sold yesterday bought
heavily to-day and the market closed at a
shade under the highest price. Receipts
were PSI cars December started at 24A@
24ssc, rose to 245sc, and closed at 2412c.
Traders in provisions were bearish on ac-
count of the amazing receipts of hogs
everywhere and a sharp decline in prices
for the same. There was only a slight con-
cession in the general list, however, and
the strength? in grains checked any CON
certed selling. January pork opened shade
lower at 1920 improved to $9.2212, declined
to 1915 and firmed up to SITE sellers, at
the close. The range in lard and ribs was
narrow.
Estimated receipts Monday-Wheat, 1876
cars; corn, 40 cars; oats, 122 cars hogs.
5000 head.