The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-10-24
THE STRENGTH in CORN
GAVE A sTEADIER TONE TO CHI
CAGO PROVISION MARKET.
wheat Got Above the seventy-Cent
Mark-Onts and Provisions scored
substantial Gains ON the Day.

CHICAGO. Oct. 2-Corn was the leader
on Change to-day. and furnished the prin-
cipal foundation for the strength developed
in the other markets. Disappointing husk-
ing returns and a steady decrease in stocks
gave corn traders an opportunity TO give
vent to a feeling that has been struggling
for expression for some time, and the De-
cember option closed with a gain of &c.
There was a general buying movement in
wheat. with shorts the principal partici-
pants, and December closed at an advance
of &c net. Oats rose Ac, and provisions
from 21zc to 1Oc.
Wheat opened strong and active. Com
plants of damage by drought in the South
west. and higher Liverpool cables, notwith-
standing the downward tendency of the
market here for the last week. caused the
change In sentiment. Buying was heavy
from the outset. and as offerings were
scarce, the market soon got above call fig
ure. Profit taking and selling by holders
of privileges caused a slight reaction, after
&c had been added to the opening advance,
but as corn had begun to- show decided
strength, shorts became anxious and ran TO
cover. Outside buying toned the upturn
that followed, and the price tended upward
the remainder of the session, the market
closing steady at the best price of the day.
A smaller increase in the visible supply
than was expected and liberal clearances
helped to maintain the advance. December
opened a shade higher at 6s7sa7Oc. advanced
to 7O%@7O1sc, sold off to 70Ac, and advanced
to 70%a70Hc at the close. Chicago received
ODD cars. nine of which graded contract.
Minneapolis and Duluth got 1,02l cars. com
pared with 1.4d the same day a year ago.
Total primary receipts were 1,3S4,0 900 bushels,
against zoos. 600 last year. Atlantic port
clearances in wheat and flour equaled $780,
coo bushels. Worlds shipments to Europe
last week were 5000, 600 bushels. The viSi-
BILE supply increased only 1,2S4,O0 bushels,
whereas an increase of over ZOO. coo BUSH
els had been expected. Cash demand here
was slow as well as at the seaboard,
where only twenty boatloads were reported
sold for export.
Corn started strong, and kept improving
a little right along until within half an hour
from the close, when profit taking checked
the advance. Reports OF poor yield and a
large decrease in stocks, coupled with the
heavy current requirements OF both foreign
and domestic consumption caused the mar
ket's strength. The buying was well dis
tributed, with the market a broad one. Re-
ceipts were 553 cars. Domestic visible de-
creased $685. 600 bushels. Cash demand was
good. December opened .1sQAc higher at
S5s@30Ac- to 30Ac, sold sparingly at SCsscG
3OAc, and advanced to 31%a3l1zc at the
close.
Oats closed at an advance Receipts were
$40 cars Visible decreased $4,000 bushels:
December opened hc higher at 22&c, eased
off to 22%q22%c, and advanced to 22%Q227sc
at the close.
Higher prices for hogs and a good cash
meat demand strengthened provisions. The
advance in corn was a further encourage
ment, and a moderate gain was easily es-
tablished. January pork closed 7hq10c
higher at Sc. 421ad9. 40, and January lard and
ribs at 21sc higher at $3.50 and $.92h. re-
spectively.
$50 cars; corn, S5 cars; OATS ass cars; hogs,
A,W0 head.