The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-01-11
CLOSED At 4 DECLINE
CHICAGO WHEAT LOWER ON LACK
OF FOREIGN SUPPORT.
Corn Was Firm, and Scored Small
Advances-Oats Were Firm and
Provisions Somewhat Higher.

CHICAGO, Jan. 10.-The wheat market
was somewhat irregular to-day. but on the
whole was depressed by the large receipts
and light clearances, May closing 1Idtsc
under yesterday. Corn and oats closed a
shade higher and provisions unchanged to
&c up.
The indifference of Liverpool to the ad-
vance in wheat here yesterday weakened
the local market at the opening. May at
67ssQ67ssc showing an initial loss of re.
Buyers late yesterday on the war scare
sold and the prices went off to 67kd675sc.
where it steadied, and on reports of a bet
ter export demand, laborously advanced to
Csc. On liquidation, occasioned by the very
light clearances and the liberal primary
receipts, the rally was lost, May touching
671Sc. A rumor that Ladysmith had fallen
caught the market in an oversold condition.
and shorts made haste to cover. under
pressure of which the market again adj
vanced, May to 6SQ6S1sc. The rumor was
unconfirmed and some Of the scare ac-
cumulations were disposed of. The close
was rather weak, May 1sq5c under yester-
day at 67Ac. About forty loads were
ported taken for export. Seaboard clear
474 barrels of -four. Primary receipts were
511,4lO bushels. compared with 707,22S last
year. Minneapolis and Duluth reported 1896
cars, against 261 last week and 459 year
ago. Local receipts were 4S cars, none Of
which graded contract. Trade was gen.
orally dull. though at times fairly active.
Corn was firm all day, up tri1e at
times, even when wheat was weak. The
opening showed a fractional decline in SYM
pathy with wheat, but it was soon recov
cred. Small country offerings and rather
unreasonable weather were the strengthen
ing influences The market was dull and
the shipping demand poor. The condition
of this demand-or lack of it-can be illus
trated by the fact that New York wire
announced the departure of the steamer
Belgravia empty, having failed to get eight
loads of grain at the minimum freight rate,
although her destination is the largest corn
center in Europe. Receipts here were 449
cars. May ranged from 327sc to 33Ac, closing
a shade over yesterday at $3.50.
Oats were firm but very dull. The mar
ket occupied a somewhat novel position
There was plenty for sale at Ac and a
good demand for cereals at prices only
fractionally under mat. The result was
that as soon as the asking price was
reached the price Immediately dropped.
Country offerings were small; The sample
market was firm. Receipts here were 153
cars. May ranged from 23&Q237sc to 24c,
closing a shade up at 24c.
A good shipping demand and some cover
ing by shorts held the provision market
firm in the face of liberal hog receipts and
softer prices at the yards. Longs were
moderate prof1t-takers. The trade was not
active nor large. May pork sold from s10.y5
to SO. S21a, and closed &c over yesterday at
$1O.S21a: May lard from $5S71a TO s5.90q5.92
closing a shade higher at s5.90G5. 921a May
ribs from SECS to s5.7OQ5.721s. with the close
unchanged from yesterday at $50.
Estimated receipts tomorrow - Wheat,
As cars; corn, 425 cars; oats. 100 cars; hogs,
40 600 head.