The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-01-03
STRENGTH ALL AROUND
SALIENT FEATURE OF THE PROD
UCE MARKET AT CHICAGO.
Provisions Lead the Way with Heavy
Gains-CereaIs Helped by Foreign
News and Close Higher.

CHICAGO. Jan. 1.-The frmness of Liv-
erpool, an improved cash demand and a de-
crease in the visible, with the sharp adj
vance in provisions, were a combination OF
bullish influences in the wheat market to-
day, May closing strong, up AQsc over
Saturday. Corn closed 1zc and oats bQAc
higher. Light hog receipts and better prices
at the yards were a strong support to the
provisions market. May pork closing 321sc,
May lard 17ke and May ribs 17lzq2Oc over
Saturday.
The quietude of the holiday markets was
broken to-day in the wheat pit and the
firmness which characterized that cereal.
despite the dullness of the festal week.
was turned to decided strength to-day by
an imposing array of bullish news and sta
tistics. May wheat opened 1sc over Satur-
day, at 69hQ695sc. principally because OF
the strength of Liverpool, the English
! grain center being influenced by a decrease
in stocks and in the amount on hand.
Trade early was rather light, but became
more active later, as the demand from out
side increased. Foreigners were good buy
ers, and commission houses had large or
ders from outside. Shorts and some others
saw reason for buying. in sympathy with
the strength of the provisions market. The
| announcement of the decrease in the visi-
BILE gave more impetus to the upward tend
ency of the market, which already was
over the call figure. May assembled to 70A@
7Oasc, and closed strong %9Bc over Satur-
day, at 70hc. At first the crowd was un-
favorable to the advance. but when May
reached zoe, and the visible, which had
haon aUnaofad 30 Shouy a yoo1arota iporaaSa
showed a reduction of $4,000 bushels, they
turned about. New York reported an i'm
provement in the export demand. Seaboard
clearances in wheat and -four, since Satur-
day. were equal to 100000 bushels. Primary
receipts were S6S,2 bushels. compared
with 1855, 975 bushels last year. Minneapo-
lis and Duluth reported receipts for two
days 40 cars, against 9S5 cars a year ago.
Receipts here were SO cars. 5 of contract
grade.
Corn was strong, sympathizing with both
the wheat and the provision markets, and
supported by independent news. Confidence
in the bull position was fostered by the
continued light receipts and small coun-
try acceptances, despite the good weather
for movement. Liverpool was up for both
futures and the cash article, and clear
ances from the seaboard since Saturday
were enormous. amounting to 1,693.0 900 BUSH
els. The quantity on ocean passage was re-
duced 592, 900 bushels, and the visible de-
creased 10000 bushels. Receipts here were
$40 cars, considerably over the estimate.
Worlds shipments were small. Shipping
houses and local bull interests, among
them influential people, were buyers
throughout. The advance was practically
without a check. May opened &c up, at
32Bq33c, and advanced to $3.50, closing &c
over Saturday, at 33AQ33Ac.
Oats were dull but firm, in sympathy
with other grains. Scalpers who were
shorts were the best buyers. Selling was
bushels. Local receipts were 221 cars. May
ranged from 23Hc to 24lsc, closing h6Ac
over Saturday. at 24c.
Provisions were exceptionally strong,
starting with a jump which surprised even
those who had been looking for an i'm
provement, May pork showing an initial
gain of 15c, May lard OF 71aG10c, and Nav
ribs of 71kQ121kc. The advance was sharp.
Commission houses were in the pit with
large buying orders from outside, while the
demand from other sources was excellent
and there were no sellers of products for
some time. When the market was at the
top. up from Zoe on May lard to 421hc on
May pork, there was, naturally, some
profit taking, but it's effect was trivial in
comparison with the advance. The adj
vance was the combined effect Of light hog
receipts, where liberal ones had been ex-
pected. of highe prices at the yards. and
the small January deliveries-1 900 barrels
OF pork, 5000 tierces of lard and $40. 600
pounds of ribs. May pork ranged from
Sio.6o to slO8I1s, closing 32l2c over Satur-
DAY. at SlO.T1s; May lard from s.. 80 10
s6.02ls, closing TIC better. at Sc; May ribs
from $500 to S.75. with the close l7lb12Oc
improved, at s.. zoos. 721h.
Estimated receipts tomorrow not OBJ
tainabie.