The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-12-20
NEWS FROM ARGENTINA
1T SUPPLIED THE MOTIVE FOR A
BULLIsH WHEAT MARKET.
Current Crop Is Very Light
err, Oats N Shade Down.

CHICAGO. Dec. 19.-Wheat was easy early
to-day. but rallied later on bullish Argentine
advices. firm continental markets, and a better
cash demand. May closing AQ%c over yester-
day. Corn closed unchanged to &c higher oats
a shade lower. and provisions &c to 11kaZOc up.
There will be no session OF the Board Of Trade
from Dec. % to Dec. g.
Figures which later proved to be incorrect,
but which, before the mistake was corrected.
made Minneapolis receipts discouragingly heavy,
together with the prospective Increase OF North
western stocks, gave the wheat market a
push downward at the start. May opened un-
changed to &c lower at 72zc to 722c, and soon
sold off to 72Hc. Early Argentine news, too.
was rather bearish. and when bullish news
from the same quarter was received and Mime
apolis figures were corrected. making receipts
at that point 2s2 cars. instead of AL cars. shorts
began bidding. A private Argentine CAME de-
clared that rain was interfering with harvest
ing. and a Hemburg wire. said the estimated
Argentine surplus of 100000 bu was seven
pounds short weight per bu. A better cash de-
mand was reported, and as this was in line
with the fact that this market had reached an
export basis with Liverpool the advance begun
by the covering of shorts was continued. with
the result that the market closed firm at the
bCSl III il Xix &C. may AZ 10 WV N1Nt@
at 72BQ73c. New York reported twenty loads
taken for export. Shipping business here was
curtailed by a scarcity OF cars. Seaboard clear
ances in wheat and flour were equal to SOB, 900
bu. Primary receipts aggregated 715.CW bu.
compared with ESQ Geo bu last wear. Minneapo-
lis and Duluth reported 363 cars. against 434
last week and s53 a year ago. Local receipts
were 100 cars. none of contract grade
Interest in corn was centered in the January
delivery, but at that the market was a dull and
narrow one, with little business done at the
extremes of price. January was strong and
December steady because the receipts. 4S7 cars,
contained no contract corn. May was steady.
in sympathy with the options mentioned. al
though its Independent tendency was easier be-
cause Of the good weather and freer country
offerings. Shippers sold moderately at the open
ing agoinst country acceptances. May sold be-
tween S6Q36bc and $3.50, and closed unchanged
at 36Ac; January between 36Ac and 37hG37Ac
closing s@Ac up at SIC, and December be-
tween 40Ac and 4lhc. and closed &c higher at
41kc.
Oats were. as usual. extremely dull. May
sold between 23hQ23xc and 2sXc, and closed a
shade lower at 23yq23&c. Freer country Offer
ings led to some local selling.
Provisions were strong and fairly active. Hog
receipts We're smaller than had been expected,
and there was a good cash demand. January
pork sold between s12.1 Is and SO. 27Ea, and closed
17kq20c higher at s2. 5d12. 27k: January lard
between S6.S2a and s6.S7iaQ6.9O closing sc up at
S6.S714, and January ribs between Sc. % and
S6.32h, with the close 7iac better at $3.50.
Estimated receipts tomorrow: Wheat. 1sz cars:
corn, 40 cars; oats. 1s6 cars; hogs, IS, 600.
Leading futures ranged as follows.