The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-01-13
STRENGTH OF PROVISIONS
POTENT FACTOR IN THE CHICAGO
PRODUCE MARKET.
Corn and Oats Were Firm In Sympa-
thy-wheat Was Unable to Resist
Pressure from Argentina.

CHICAGO. Jan. 12.-The trade in provi-
sions was the feature on the Board of
Trade to-day light hog receipts and ad-
vanced prices at the yards combining to
give the market tone of decided strength.
May pork closed 10c. May lard 21zQ5c and
May ribs sc over yesterday. Wheat was
dull and heavy. weakened by disappointing
cables and the heavy Argentine shipments.
May closing 14Gasc down. Corn closed
shade higher and oats unchanged.
The provision market was strong all day.
Receipts at the 'yarus were under the esti-
mate and prices were up. Initial figures
showed gain about equal to that shown
at the close. At advanced figures the de-
mand was excellent from all sources; the
market was active and broad. The demand
from the South retained its recently devel
oped vigor and the outside trade generally
was on a large scale. Influential local
houses were good buyers, largely OF lard
and ribs. At no time was there any pres
sure to sell. Offerings were nearly all from
profit takers. May pork ranged from $11 to
81 1212, and closed 10c over yesterday at
s11.05; May lard from s6071s to s6.12la.
closing 21k@5c up; May ribs from So .S21zd5.s5
from yesterdays final price at s5.S5.
The liberal Argentine shipments and crop
conditions in that country were the main
factors in depressing wheat, that market
barely holding it's own, though it had
strong corn and provision markets for
near neighborS. The decline at LlVerpool.
in the face of the advance here yesterday,
was a disappointment to the bulls and en-
couraged selling. AT one time little buy
ing by shorts was caused by stories OF a
somewhat better cash demand and an I'M
proved inquiry for export, but this did not
last The volume of business was small and
the session not active. A sale OF 14S,U0
bushels from here to Hamburg was re-
ported The seaboard reported twenty loads
taken for export. Primary receipts were
1893 900 bushels, compared with $4,000 last
year. Receipts here were As cars, eight or
contract grade. Minneapolis and Duluth
reported 334 cars. against 453 last week and
| 504 year ago. Port clearances, wheat ana
flour, were 10000 bushels.
Corn was firm. There was good crowd
| in the pit, and some Improvement In the
| commission business. Aside from bit or
easiness felt at the opening, in sympathy
with wheat, the feeling was firm through
out. The main considerations on the buy
| ing side were the small country offerings
| and the poor weather for movement. with
| the strength of provisions contributary
| factor. The volume of trade was not large
There was considerable talk of feeders
going wild over corn" and il was generally
reported that the demand from this source
was backed with more tempting prices than
shippers have been offering. Receipts here
were 147 cars. May ranged from 32%c to
| 3412c, closing a shaue over yesterday at
| $3.50.
The oats market was firm. Cash bids
were sharp, relatively 1zc better than last
weeks Sympathy with the strength of
| corn was a factor in the firmness, as was a
| Philadelphia report of a demand for Ameri-
can oats to feed British cavalry horses in
South Africa. Receipts here were ga cars
| May sold from 24c to 24lsc, closing UNI
| changed from yesterday at Ac.
Estimated receipts tomorrow: Wheat,
| 81 cars corn, Ais cars; oats, $50 cars; hogs,
| $4,000 head.