The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-11-22
STRONG WHEAT MARKET
RUMoRED PEACE INTERRUPTION
SENDS PRICES UPWARD.
Traders Who Hesitated at the Open
ing Lost PrOfts-PrOvisiOns Scored
Gains in All Lines.

CHICAGO, Nov. 21.-The wheat market to-
day closed with snap on the reported re-
fusal of the Spanish peace commission to
continue negotiations. May is ssQAc higher
and December 11&c. Corn and oats advanced
214c and 294c, respectively. Provisions are up
59716c.
Some hesitation was shown by wheat
traders at the opening, though no decline in
prices was noticeable except slight shad-
ing of December There was prospect of
large increase in the worlds visible, and
Northwest receipts were heavy. Minneapo-
lis and Duluth reported 2,O01 cars, compared
with 1886 last week and 1876 a year ago.
Chicago receipts were SST cars, thirty Eight
of contract grade. Expectations in regard
to large visible increase were more than
realized, the increase amounting to 2,29S,00O
bushels. Liverpool started lower, but by
the time trading here commenced the Liv-
erpool quotations showed an advance ex-
cept for December, for which there still
appeared a slight decline. The signs of
weakness at the start quickly disappeared
and the market for an hour was quite
strong. December oponed a shade lower,
at 66a4 Q667sc, and May unchanged, at SEQ
661sc. Buying for the long account and
moderate amount Of covering by shorts re-
suited in slow advance in May to 66$sc and
in December to 67Q671sc. After that adj
vance prices fuctuated considerably on
scalping operations, though within COM
paratively narrow range. About IL o'clock
the market became firm. Both Russian and
Danubian shipments showed a marked fall
ing off, an increase in worlds shipments be-
ing altogether due to the heavy American
shipments, and this fact encouraged buyers.
Strength which was shown by the coarser
grain markets also had good deal OF Ell
feet on trading. After noon the market
again Quilted down; then prices were well
maintained. December was the most active
option, and there was evidence of consld-
cradle outstanding short interest in that
future. At times there was extensive selling
of December by prominent elevator people,
and prices yielded slightly while this was
going on, but Immediately recovered. Fri
mary receipts were heavy, the total being
2 900 bushels. New York reported mod
crate foreign demand. The Argentine news
though possibly late. Toward the close the
market became very strong. Reports that
the Spanish commissioners had broken OF
peace negotiations drove shorts to cover
and prices advanced the best prices OF the
day prevailing at the close. December
closed at 672sc and May at $780,
Corn was active and higher helped by
large shipments, 103 900 buShels-higher
cables and bad weather West. The outside
| interest was much greater. Realizing was
free at times, but the general tendency OF
prices was upward and good advance was
scored. Receipts were 33S cars. May ranged
from S4c to 3412@345sc and closed 14c higher,
| at 3412c.
oats were unusually active and strong.
| The cash demand was excellent. Shorts
were large buyers. and there was an active
! general commission trade. Offerings were
| small and everything was quickly taken.
| December was especially strong and adj
vanced &c Receipts were 313 cars. May
ranged from 25a4M257sc to 2612c and closed
| 1Ad5sc higher, at 264c.
Provisions were only fairly active but
| firm. The advance in corn and oats was
| the chief influence, but there was good
local and shipping demand. Packers sold
moderately. Trade showed broadening
| tendency. At the close January pork was
| TIC higher at $780, January lard 712c high
er, at $5.O5, and January ribs 5Q71ac higher,
at $4.65.
Estimated receipts for to-morrow-Wheat,
3h4 cars; corn, 800 cars; oats, 225 cars; hogs,
SO, 900 head.