The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-12-13
EVERYTHING BUT WHEAT
SHOWED STRENGTH n FIRMNEss
ON THE CHICAGO MARKET.
Corn Was Higher, Oats Unchanged,
and Provisions Showed Unusual
Gains i'm Face of Conditions.

CHICAGO. Dec. 12.-Wheat opened
steady to-day on prospects of a freeze, but
weakened on the heavy increase in the
worlds visible. May closing bQAc under
| yesterday. May corn closed a shade up
| and May oats unchanged. Provisions were
strengthened by a hog movement lighter
| than expected, small offerings and a good
| outside demand, May pork closing 17lAc
| over yesterday, May lard and May ribs
each up &c.
May wheat opened sc up, at 69A969%c.
all because some shorts saw prospects Of
| damage in the cold snap following the re-
| cent mild weather. This advantage was
lost on profit taking and selling against
calls. For some time the market held
fairly we'll at the decline. shorts doing a
bit of covering and -scalpers buying
against puts. The report of a heavy in
| crease in the worlds visible. coming when
it had been expected there would be little
| change in the figures, turned the tide
| against the price and May fell to 6S%c.
Some of this was recovered on buying
| against privileges, but the close was easy,
with May hdAc lower. at 69c. New York
| reported no wheat taken for export. At
Il ldlllC put VI "bNo@ oi0 hOoh
were equal to 2SS,OO0 bushels. Bradstreet's
| worlds visible increased $4,000 bushels.
| Local receipts were ninety-four cars. TWEEN
ty-one of contract grade. Minneapolis and
Duluth reported 49, cars, against 1850 last
week and S4 a year ago. Primary receipts
were 527. 600 bushels, compared with 1,175.2 200
last year.
Corn early was easy and very dull, but
| the close was firm. A trife was nipped
off the price shortly after the opening, but
this was recovered. The steadiness was
due principally to the small country offer
ings and the unwillingness of local holders
to let go. The weather, too, has not
turned cold enough to promise immediate
encouragement TO the movement. Receipts
were liberal-516 cars here and $4,000
bushels, against $4,000 a year ago at the
principal Western points. May ranged
from S21ac to 32Ac, closing a shade UP at
32Ac.
The oats market held steady, but in a
very dull and ~listless way, the range be-
ing only sc. Bad weather for movement
was a support. The shipping demand
while not sharp, was better than expert
enced in the other grain pits. Receipts
here were 3OS cars. May sold from 237sc to
24c, closing unchanged.
Provisions were firm, pork especially so.
The opening was at a gain, and this as
the session progressed with some ANNA
ton at times was aided i'm a way encourage
ing to holders. Some dealers saw a little
mystery in the strength, believing support
more potent than the light movement,
good shipping demand and small offerings
was at the bottom of the market. There
was considerable execution of outside buy
ing orders by commission houses and a
little profit taking by packers. May pork
sold from s1O.O7k to SO. 2211h. closing 1llec
over yesterday, at SIC. k2k; May lard from
s5.55 to $3.50 and finished sc up. at $500.
May ribs ranged from $5.S71a to -$5.42k,
closing sc better than yesterday, at $5.421s.
Estimated receipts tO-mOrrow-Wheat, %
cars; corn, 225 cars; oats, 100 cars; hogs,
$1,000 head.