The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-10-05
DEFERRED HOSTILITIES
CAUSED A sAGGING GRAIN AND PRO-
VISION MARKET AT CHICAGO.
Cereals Weak and Heavy, Numerous
Factors Aiding In the Declines
The Local Markets.

Oct. Delay i'm the expected
outbreak of hostilities in the Transvaal fiat
tened the wheat market badly to-day, and
was mainly responsible for a decline of ia
1c which marked the close. Falling off in
the export demand was also a feature.
Coarse grains were affected somewhat by
high ocean freight, corn closing bQ%c low
er and oats Aa4sc lower. Provisions de-
clined about 2l2Q5c.
Weakness marked the opening in wheat.
There was a sharp drop in the Liverpool
market, consols being up Is of a point, while
the delay in the expected outbreak of hos
tilities between the British and the Beers,
which has been the main bull factor in this
market for several days. was taken to indi-
cate that q peaceful settlement was not al
together impossible. This resulted In a very
appreciable diminution of the outside de-
mand and also shock out considerable long
wheat which had been bought on prospects
of war. December opened at 1850 7312c. a
decline of sc from yesterdays closing price.
This was we'll into the put price. and con-
siderable buying against those privileges
resulted. This and a certain amount of
buying by scalpers constituted about all the
support the market received, and, though it
was heavy enough at first to cause a reac-
ton in the December price to 1850, the mar
ket became very heavy as soon as the de-
mand from that source had been satisfied,
and prices declined slowly but steadily.
There was some selling in this market by
seaboard operators. indicating a let-up in
the foreign demand for American wheat,
and this increased the heaviness. The mar
ket was at its weakest toward the close,
more on account of lack of demand than
from selling pressure, as shorts were APP
parently adverse to pushing their advan-
tage in the lace of so sudden and material
a decline. Minneapolis and Duluth receipts
We're 926 cars, against 1y9 last week and
loo a year ago. Chicago receipts were lol
cars, five of contract grade. Total primary
receipts were 1871 ,0NU bushels, compared
with 1916, 900 a year ago. Atlantic port
clearances of wheat ana iour amounted to
4s7. 900 bushels. The seapoard reported thir-
ty-nve boatloads taken for export. Decem-
Der declined to 73c and closed weak at 1870:
Not much was done in May. 1t followed
December in the decline and closed asQlc
lower, at 764761sc.
ruled slightly lower. There was some SYM
pathy with wheat. The advance in ocean
freight rates was expected to initiate
against export business and had its effect
on the speculative market. Receipts were
light-6s0 cars-and reports of diminishing
supplies in the country served to support
ranged from SOC to SGAc and closed &c low
er. at 800 S01sc. May was sold freely by re-
cent puTcDdScTS ain was WCohCA thuh IL,
| cember. 1t ranged from 3c to 31&sc and
closed AQSsc lower. at 3lQ3llsc:,
Oats were slow and weak. The advance
in ocean freight rates affected the cash
business, and sympathy with other grain
markets was a factor, prices ruling lower
| profit taking by recent purchasers. Re-
ceipts were 21S cars. December ranged from
227sc to 23d23lsc and closed lac lower, at
22zsQ23c. Elevator interests in general were
sellers.
Provisions were slow and heavy within
narrow limits. The hog market was weak
and there was some sympathy with the
grain weakness. Packers were moderate
sellers all day. About the only support the
market received was from shorts. AT tne
| close January pork was 21ac over, at S.t5;
| january lard &c lower, at $5.5!1a45.60. and
January ribs a shade lower at $o:0I1sq5.lo
Estimated receipts Thursday-Wnea Ilo
| 80. ZOO head. : 9ff 81