The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-11-10
LOW POINT in DECLINE
REACHED BY WHEAT IN THE GRAIN
MARKET AT CHICAGO.
December Dropped to 81 o-S-Corn
Showed Some Strength anu onts
Closed Higher-Provisions Firm.

CHICAGO Nov 9-An increase in stocks
a languid foreign demand and the weakness
of Liverpool to-day resulted in wheat touch
ing the lowest point of the recent decline
Covering by shorts late in the session, how
ever advanced the price, December closing
unchanged and May 1sc lower. Corn was
firm on light country offerings, December
closing &c and May Ac up. Provisions
showed strength with higher hog prices,
closing 2Iac over yesterday. Oats closed 1sc
higher.
The weakness Of Liverpool was the para
mount factor in the opening of wheat. The
initial price was unchanged from yester-
days close December at 6ShG6SHc and
May at 721sc, but sellers were in the ma
jority and the price eased off to 677sc for
December and 17@72c for May. Shorts and
those trying TO protect puts got into action
at these figures and their buying forced an
advance, December climbing to 6S1sc and
May TO 72c. The increase in stocks and the
lack of foreign demand, added to the in
fluence of Liverpool, were too much for the
market to hold up under, however. Liuui-
dation became quite general, and the price
sagged to a point lower than at any time
during the present decline. December
slumped to 679sQ67s4c and May to 715sc.
| Late in the session the strength of corn
and good export engagements at New York
brought better support to the market. At
| the bottom figure shorts became active buy
ers and December advanced to eS1sd6Sl4c
and May to &c, at which they closed. Trad
| ing during most of the day was without
animation. Statistics were generally bear
| ish The Price Current said winter wheat
was doing We'll, although New York and
| Michigan reported some inroads made by
| the Hessian fly. New York reported AZ loads
taken for export. Duluth and Minneapolis
| reported IA cars, as compared with COS last
week and OPS a year ago. Receipts at
primary points aggregated 994 coo blu, against
| So cars, 10 of contract grade. Clearances
| were 10000 blu. The visible is expected to
| increase 100000 bu or more.
Corn held its own we'll throughout the
! session, save for little weakness with
| wheat at the opening. The bull feature was
| the absence of country offerings. Receipts
| were small, $50 cars, here, compared with GA
| a year ago. AT primary points the receipts
| were $4,000 bu, compared with $4,000 the
! corresponding day last year. Atlantic port
! clearances were $4,000 blu. Trade was dull,
most of the business being on the May OPP
| ton. December opened shade lower, at
311sc. sold at 31Q3l12c and closed at 31Aq
313sc. May opened at 32ss032l2c, ranged at
| 32as G327sc and closed at 3234c
! Sympathy with corn and some buying by
| shorts held oats firm. The market was dull.
December opened shade higher, at 22l2c
| sold at 22Aq225sc and closed at 22A@225sc.
Receipts were small, 1.l69 cars; clearances
| Were 1900 bu.
Hogs at the yards were SC higher, fact
| to which was due the strength exhibited by
| provisions. Trading extremely dull
| throughout the session, and fluctuations
| were within a narrow range; The close was
! at a gain of 21ac all around-January pork
| at $9.721R, January lard at S5.20Q5.2I12 and
January ribs at s5.021s.
| Estimated receipts to-morrow-Wheat,
cars; corn, go cars; oats, 16O cars: hogs
| % OO0 head