The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-12-08
SHADOW OF THE SWORD
NETHERLANDS PORTUGAL RELA-
TIONs CIV A BOOST To WHEAT.
Corn Strong Early. Closing a Shade
Higher-Oats Dull, with "a Small
Gain-Provisions a Little Lower.

CHICAGO, Dec. Higher cables, light
Argentine shipments and rain in hat coun-
try, together with reports OF a better cash
demand and fears of a rupture between
Portugal and Holland combined to help
wheat to-day January closing &c higher.
Corn closed a shade to &c. and oats hQAc
UP and provisions 21z45c lower.
The wheat market began the day with a
show OF frmness on Liverpoors steadiness
in the face Of the loss here yesterday. the
light Argentine shipments n a cable an
nouncing that rain was interfering with
harvest work in that country. January
opened AdAc higher at Tic to 1@1Bc,
and sold during the first half hour to 71Ac.
TIL crowd was inclined to be bearish, how
ever, and the bulge met liberal selling
under the theory that continued liberal
receipts and outside unw~illingness to buy
were not conditions calculated to sustain
prices. January, therefore. was gradually
pressed down during the forenoon to
7OkG701sc. At this point the market was
reinforced by a fresh supply of bullish
news. Holland and Portugal were reported
at swords points, and the seaboard, as
well as Minneapolis. reported a sitter cash
demand. The receipt of this news caused a
rally to 71%c, and the close was firm. kc
over yesterday at 1Ac. New York re-
ported eighteen loads taken for export.
Seaboard clearances In wheat and flour
were equal to 116,000 bu. Primary receipts
aggregated 9O2, 900 bu, compared with 67S,O OJ
bu last year. Minneapolis and Duluth re-
ported 467 cars, against 1,162 1.-TWO days.
last week, and $40 a year ago. Local re-
ceipts were So cars, none of which graded
contract. Argentine shipments for the
week were 312, 900 bu, compared with 640,0 900
bu the previous week and 7l2, 600 blu a year
ago.
Corn started out strong. This was par
ticularly true of December, which felt
keenly the fact that the receipts, 21 cars,
contained no corn of contract grade. The
weather was u~nfavorable for grading flu
ture arrivals, which was also a potent in
fuence. Higher cables and light Argentine
shipments, $4,000 bu, compared with its
$4,000 bu the previous week and $4,000 blu
a year ago, higher cables and the wheat
strength, were contributory factors in sus-
tanning prices early. December was In
good demand early, but was offered freely
on the bulge. The last half Of the session
was quiet and the trade professional. May
was rather quiet throughout, ranging be-
tween $3.50 and $3.50 and closing a shade
higher, at 365s636&c. December sold be-
tween 37Ac and 3SAc and closed Nc up. at
377sc.
Light receipts. small shipments and the
lack of interest ruled in the oats market.
There was some elevator selling of May
early, but 1t had little significance. May
sold between 23Ac and 231sc and closed 1c
higher, at 23%c. The wheat strength was
the chief influence. Receipts were 151 cars.
Provisions opened lower, in sympathy
with a drop in hog prices, and because
Liverpool quoted bacon Ga lower. The
market steadied with wheat and corn later
in the day. but closed with a small loss.
January pork sold between $12.25 and
S12. 121h and closed &c lower, at $12.2 20; JAN
uary lard between s6.9211a and s6.S711a, clos
ing 219c down, at $500, and January ribs
between $6.371a and $3.50, with the close 2hc
depressed, at Sc. 32h.
Estimated receipts to-morrow-Wheat, 40
cars; corn, 235 cars; oats, 15 cars; hogs,
%, 600 head.
Too1i.o fnf,rac rap-a5 nc fo1Io.rS.