The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-01-16
BETTER FOREIGN TRADE
GAVE WHEAT BULLS CONFIDENCE
AND PRICES ADVANCED.
Coarse Grain Was Weak and Neglect
ed, Scoring Small DecIines-PrO-
visions Stronger.

CHICAGO, Jan. 14.-An improvement in
the foreign demand, with heavy clearances
at the seaboard to-day caused a good deal of
animation among wheat traders, and May
closed sc higher. Corn lost 1sc and oats left
off a shade lower. Pork advanced l0c, and
lard and ribs 215c each.
Steadiness was impaired to wheat here at
the start, owing to Liverpool quotations
showing yesterdays advance we'll main
tanned. The market, however, soon felt the
effect of the prevailing local bearish senti-
ment in the absence of outside buying or
ders to counterfeit it. Business was very
dull and individual transactions gave no In
dication of supreme confidence on either side
of the market. May opened sc higher at
76%c but settled Immediately to 7OAc and
sold low as 705sc before the decline was
checked. About this time New York re-
ported good-sized buying orders from the
continent for wheat and as there was a
good deal of apprehension among the crowd
as to the condition OF winter wheat should
severe cold succeed the present thaw, prices
began to show signs of advancement. Brad
street reported the weeks exports of wheat
and -four at 564S,OO bu, and the total ship
ments to Europe from all exporting coun-
tries at tx 600 blu, which would leave all
but 100000 blu from this side. Such evil
dence of European dependence on this coun-
try was a great inducement to holders to
raise the price, and May advanced to 711sc.
Receipts here were 210 cars, of which 49
graded contract. Minneapolis and Duluth
reported 49S cars received, compared with
as for the same day last week and 1888 the
| corresponding day year ago. Primary
Western market receipts were large-777,O0
bu, against 405, 900 last year This was Off
set, however, by the heavy clearances of
wheat and flour, which amounted to 1,014O00
bu and a little more was added to the price
May reaching 711s@Ll4c on this information
New York reported thirty-eight boatloads
disposed of for export, and it was said
good business was done at Kansas City for
shipment by way of gulf ports. The mar
ket held firm right up to the end, and May
closed at 11sc, buyers.
In view of continued liberal receipts and
a rather heavy market at Liverpool, bulls
in corn had hard work to keep their spe-
cialty from sagging Puts had been sold
yesterday close to the market, and this act
ed as sustaining influence. The shipping
demand was good, Notwithstanding lower
quotations from Liverpool and 100000 bu
were reported sold for shipment Receipts
were 744 cars. May opened a shade lower
at 37d371sc, sold down to S67sc then firmed
up to &c, the closing figure.
Oats were steady with only small Specu-
| lative interest manifested. Receipts were
| moderate 1871 cars, and the export demand
good There was little business done, and
the range of May was only Ac, opening,
shade lower at 277s02Sc, declining to 2Is4c,
and closing at 27%Q277sc.
Liberal receipts of hogs and scattered SELL
ing at the start weakened provisions. AS
| the session progressed, however, moderate
buying by packers with light offerings
started an advance, and the market closed
with little added TO the price all around
| Shipments for the week amounted TO H.
S65, 900 pounds of meats and $4,000 pounds
of lard. May pork opened shade lower, at
| S10O5, declined to $40 then rallied to $10.15.
the closing figure. The range in lard and
ribs was narrow.
Estimated receipts for Monday-Wheat,
! 1870 cars; corn, 1850; oats, 300; hogs, 10000
| head.