The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-01-11
BEARISH NEWS RULED
LIGHT SPECULATIVE DEMAND AND
WHEAT CLOSED 3-SC LOWER.
Decline in Liverpool Quotations and
Better Crop Reports AbrOad-PrO-
visions scored Gains.

CHICAGO. Jan. 1O.-A light speculative demand
to-day and bearish news, both domestic and for
eign. caused decline in wheat May closed sc
lower. Corn lost &c, and oats left of a shade
lower. Pork and ribs advanced &c each and lard
gained 2lzc.
Weakness and lower quotations at Liverpool
Notwithstanding the frmness displayed here yes
terday, started wheat a trihe lower. There were
a few buying orders at the start, however. and
as there was very little wheat for sale. May.
which opened 1sdAc lower at 7O9sq76Ac, climbed
slowly and laboriously to 71sc. When the Initial
buying orders out of the way the prices
began to weaken. and May sank regularly but
determnedly to 70l2Q703sc. Heavy arrivals were
given the cause OF decline of 4Q12d at Liv-
erpool. Chicago received 14I cars of which were
contract. Receipts in the Northwest amounted to
400 cars, compared with 337 for the CORE
spending day a year ago Primary Western mar
ket receipts $1,000 bushels against 3s5, 900
bushels last year. Bradstreet reported l31, 900
bushels increase in the worlds stocks of wheat.
as compared with 63S go bushels increase the
same week of the previous year. Seaboard clear
ances of wheat and flour were smaller than their
recent average, amounting in wheat and flour TO
5000 bushels. Speculative activity from the
outside conspicuously absent and even the
local crowd tired of trying 10 guess the next
vagary of a market swayed alternately by dull
shipping demand and certain possibilities
nected with European dependence on the country
for supplies. Russian stocks ct wheat were re-
ported at 49, S 900 bushels, against A. GEO. coo BUSH
els Dec. 1, and 100000 bushels a year ago.
More favorable weather reported from Ar
gentina, and the crop situation there said to
have been greatly improved, with prospects OF
large export from that country The market was
depressed by the average bearishness of the in
formation, and May declined to 702s@7013c, and
closed at 70isc.
A poor cash demand and a large accumulation
of stocks weakened corn. There was d half
hearted attempt early to bull the market but
offerings were plentiful and buyers very
readily accommodated. Puts yesterday
close to the market, and they tended to prevent
any important break. Receipts large, 757
cars. May opened A@ssc lower at 36AQ367sc adj
vaIiced to 37lsc sold of to 3694Q565sc, and closed
at $3.50.
with no selling pressure and a scattered out
side demand Tor July oats ruled firm The range
was small and prices just about held their
May began sc down at 273sc, sold sparingly at
27a@272sc, rallied to 279sc, and closed at 273sQ
212c buyers.
An improved export demand for meats and
higher prices for hogs, strengthened provisions.
Purchase by commission houses that were recent
sellers was also an influence. The early advance
was modified somewhat by the heaviness Of
grains, but some of the days gains still adj
herring the market at the close of the session.
May pork opened 5Q7l3c higher at $l0q1O05. sold
at $1005@lG0732, weakened $s.913a, then i'm
proved to $1Oql00212 at the close. The range in
lard and ribs narrow.
Estimated Receipts for Wednesday--Wheat, $50
cars corn, $50 cars; oats, $50 cars; hogs, 10000
head.