The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-12-31
WHEAT SIMPLY SCARED
ADDED PRACTICALLY TWO CENTS
TO THE PRICE OF FRIDAY.
other Grains and Provisions Felt the
influence, and Closed at Substan-
tiaI Gains on the Day.

CHICAGO Dec 29.-wheat was a buoyant
market to-day under the stimulus Of lighter
Northwest receipts and stubborn cables. May
closing iT,72c over yesterday. other markets
rallied in sympathy, corn closing ,sGHc. oats
,sQAc and provisions 2lkG12isc higher There
will be no session Of the Board Of Trade on
Tuesday. Jan. 1.
For two and half active, strenuous hours.
the usual duration OF the Saturday session OF the
Board of Trade. wheat displayed an effervescenf
spirit. During the first hour there was more
speculative business than during the whole ses-
sion OF any other day this week. The first SYM
ptoms of buoyancy and strength brought back
from the alluring stock market many deserters
from the grain pit. May wheat opened I'M
changed at T3kc. but quickly responded to buy
ing orders from all sides of the pit. May ad-
vanoed, growing more active as 1t scared until
75Izc was bid. Over 74c offerings were a hi,
freer, but they quickly ceased when the breadth
of the demand became apparent, and not till the
price was we'll over 75c did the selling pressure
assume sufficient weight 10 affect the price. From
the top May eased to 74Ac. but here the clamor
CT shorts was renewed and recovery ensued.
May closing 17sa2c over yesterday at 75s075hc.
I he foundation of the markets strength lay in
the recent stubborn frmness of foreign markets
Northwestern receipts The weeks receipts at
Minneapolis, Duluth and Chicago aggregated
17S7 cars, LOIS cars less than the previous week,
and 1,50 under the receipts at those points
the corresponding week year ago. To-day $
receipts were SIC cars. against Gao last week and
| All a year ago. or these Chicago reported 125
cars. IL Of contract grade. These figures served
| as = basis for the assertion that Northwestern
| receipts had at last entered upon prolonged
| reduction which would finally substantiate the
| government report that less than S5.VoO.oOo BIZ
| had been raised in the three great spring wheat
| States of the Northwest. Primary receipts were
| 445 eco bu compared with $4,000 bu year ago.
Exporters reported % loads taken Seaboard
| ce8rances. in wheat and flour. were equal TO
| 900 bu.
Corn fairly active and firm. BUT owed
most of its strength 10 the substantial rise In
| wheat. Moderate receipts. 349 here, small
| country offerings and shipping demand which
| continued i'm the face of the advance in values.
we're contributary factors. Some heavy short
| lines were reported covered, at least sub
| stantially reduced. May sold between 36l.c and
] $3.50, and closed is@ssc higher at 36AQ367sc.
The oats market was waited upwards 10y the
| favorable breeze which struck wheat The mar
ket at times fairly active under covering
| br shorts, but at the close the important short
| lines were intact. Receipts 2l5 May
1s@Ac up at 24Q24hc.
Provisions fairly active. opening firm on
| light hog receipts ana advancing later In syrl-
| pathy with the wheat strength. January pork
closed 21zc higher at l2.22ia; January lard be-
$3.50 So 80, closing 12lac u2 at Sc so and
| January ribs between s6.30d6.32ia and se.42ls
| wnh the close 12lzc improved at ss423.
Estimated receipts Monday: Wheat, IS
corn, 465 cars; oats 257 cars hogs, 81, 900 head.
Leading futures ranged follows: