The Indianapolis journal., 1899-12-19
DERIVED FROM THE WAR
STRENGTH THAT SENT CHICAGO
WHEAT SOARING RAPIDLY.
Corn and Oats Moderately Higher,
Following the Leader-Consider-
able Weakness I'm Provisions.

CHICAGO. Dec. 1S-Indications that the
war in South Africa has reached proper
tions sufficient to actuate a marked i'm
provement in the foreign demand caused
sharp advance in wheat to-day, May clos
ing 14c over Saturday. Other grains were
influenced by wheat, May corn closing sc
and May oats A@ssc higher. Profit taking
depressed the provision market, May pork
closing 7lkc. May lard sc and May ribs
71kc lower.
The small worlds shipment the decrease
on passage and other statistics rather bull
ish were completely overshadowed in the
wheat pit by the foreign news. The call
for additional volunteers for the British
forces in South Africa alone, it was be-
lieved, increased the Importance of the Boer
war sufficiently to stimulate the grain
market. The strength of Liverpool and
the vigorous buying of foreigners was suffi-
cient for the support of the local dealers.
and the market, strong at the opening, add
ed to it's strength throughout the session.
TIE crowd in the pit was large, the activity
and volume of trade greater than it has
been before in months. May opened 1kQ5sc
over Saturday at 697sd70c. Shorts covered,
but offerings were not liberal and the price
advanced to 7O1zq70sse. From this point the
market early dropped off to initial figures
on selling against privileges as the price
was far above calls. But this was regained
and from that point to the close the ad
vance was persistent. Outside buying or
ders were on the floor in force, shorts be-
came fearful and covered at substantial
losses and through it all the foreigners
bought literally, absorbing every offer not
otherwise disposed Of A few minutes be-
:,
at 1l4c. The close was lac over Satur-
day at 1bc Primary receipts were 81. 400
bu, against /, 200 last year. Minneapolis
and Duluth reported 554 cars. against 699
last week and 1,495 a year ago. Receipts
here were ffty-six cars, nine of contract
grade. Atlantic port clearances in wheat
and flour were equal TO 211,600 bu. Local
stocks increased 1,179,0OO bu. New York re-
ported twenty-three loads taken for eX-
port.
Corn was firm with wheat and the mar
ket rather active. The strength of wheat
was the factor. The response, however,
was held in check to n degree by some
liberal profit taking. The export demand
was good. Local receipts were 259 cars.
May ranged from 331sc to S31sc, closing sc
up at 33ssc.
The animation and strength of wheat pro-
duced only drowsy movement In the oats
market Receipts were DDS cars. May sold
from 241sc to 242sc. and closed 1sghc better
at 24IlG242sc.
Provisions opened strong and there was
an early advance with wheat, but this was
lost on realizing, principally by New York
longs, who were influenced by the Wall
street situation. The liberal supply of hogs
and the lower prices at the yards ha0 some
thing of depressing effect. May pork
ranged from s10.2712 to $1055 and closed TIC
under Saturday at $40 321a; May lard from
$5.571a to $50. closing sc under at $50; May
ribs from $40 to S5.4212 to S5.55 and closed
712c down at $5.421aG545
Estimated receipts for to-morrow-Wheat,
100 cars; corn, sic cars; oats, 22S cars; nogs,
$4,000 head.