The Indianapolis journal., 1899-01-23
SMALL WHEAT TRADING
MARKET CONTINUES STRONG IN FACE
OF EXTREME DULLNEsS.
Reports of Fresh Offerings from Ar
gentine Has Feeble Effect on the
Market-Pr0visiOns Unchanged.

CHICAGO, Jan. pa sort OF contention
between belrish announcements and bullish
sentiment prevented much movement in
either direction in wheat to-day, and May
closed at 1sQAc advance. Corn left off un-
changed and oats are shade higher. Pork
closed unchanged, lard trihe higher and
ribs at 21ac advance.
Wheat started steady but without much
v;gor, May opening 1sc higher at 7O7sa1O74c'
The improvement was only momentary,
however, as London advices reported in
creased offerings of Argentine wheat, which
we're becoming oppressive. and cables also
advised that liberal charters for wheat We're
being made at Odessa with the expectation
that the movement from that quarter would
increase rapidly. The Argentine surplus
was still matter of some uncertainty, but
the latest advces suggested an exportaDle
surplus of between 45,O 100000 and 5O,OOO,OOo ou,
or more than double the exports from there
last year. That put damper on the spirits
of the bulls, and, as there were few out
side selling orders to be executed, May de-
clined to 7115c. Receipts here were lOI cars
Of which IL graded contract Minneapolis
and Duluth received 473 cars, against 5oo Ior
the corresponding day a year ago. Primary
Western markets received $4,000 bu, where-
as 1873 900 was the total year ago. EXports
from Atlantic seaboard were equal In wheat
and -four to $4,000 bu, without return from
Galveston and Newport News The world
shipments for the week were estimated at
6,4O0,OOO bu. Of which 5,199,OO0 bu came from
this country. This had a strengthening Ell
feet, as it led to the belief that Europe has
not yet been sensibly relieved of its de-
pendency on this country for its supplies
The continued activity of the security mar
ket had a steadying emect on wheat anu
the possibility that the furore IN STOCKS
might extend to grain held the average
short seller in check Inc currenI +lS nelLe1 o1
the long side and might reasonaDIy oe eA-
pected to protect that interest was Strength
ened by the fact that whenever the market
got down to 7O15 for May it received good
support Trade became active during the
last half hour, and, as offerings were scarce,
May advanced to 7OAQO1sc ana closeu at
Corn was quiet and incapable Of being
moved more than 1sc away from 5Ic IoP
the bull tradelN to stir the pit into acuoh
and incidentally force prices up carry III IN tile M
session, but their efforts met Win r.t mGte dii
sponse and the market became very qull. q5
Shipping demand was poor, with Wnal olQs
that were received Ac out or line ReGeIpts
were 30 cars May Opened pens and SWdH9 wiS many
changes from that to S67sc, finally closeo
at SIC. .,o.oo+o,is+ice
Oats possessed the SdIllS NLleAA eRS'OA -
as the leading markets. There was no in
quiry for cash and less business was trans rs
acted in futures than any day during the
last two months. Receipts were 22l cars.
May began shade higher, at Z'9sc, ad solq at at
2.1aGI275sc, rose to 219eQ2I#c ana closeo @I
4 decided Improvement in the shipping de-
mand and higher prices for hogs helped pro Pre-,
visions Buying by commission houses WIN
forcion connections resulted in a slight ad-
vance all around The shipments, for the
week amounted to 2,S01 800 pounds meats
nork. lard and ribs was OF the smallest pos
sible kird. xr,,4
Estimated receipts for Monday-Wheat'
121 cars: corn, 400 cars; oats, 200 cars; hogs,
10000 head ,