The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-12-18
RISE IN DECEMBER CORN
MARKET BULGEs 3-sC on HEAVY
COVERING BY SHORTS.
Wheat Weak Early, but Steadies Later
vision Lower on Hog Receipts.

HICAG Dec. 17.-Corn again took pre-
eedence on the Board Of Trade to-day. Anxious
shorts forced the price Of December up to Ss4c
in their efforts TO cover. and it closed at sslze,
an advance Of 2ssc. May also advanced &c.
Wheat weakened by its own governing inhu-
ences. was steadied by corn and closed IN
changed. oats closed a shade higher. and pro-
visions closed unchanged to 1oc lower.
Corn was strong and higher from the start.
The unsettled weather conditions. rendering
still more uncertain any increase in the con-
tract stocks. and the total absence of con-
tract corn In to-day's arrivals Of 547 cars. re-
vived anxiety among shorts. who became active
bidders for both December and May as tie SEES
sion progressed. Chief interest centered III the
December option. This was bid UP very rapidly
by one prominent broker. who is credited with
being heavily short. the price reaching Ss&c be-
fore the reaction came. Even at that figure
there was little offered for sale. The decrease
in the visible supply Of 62i,0 900 bu helped the bull
situation. May. in the meantime. also showed
considerable strength, though having periods
of comparative depression. December ranged
from s7ss to S9Ac. and closed csc higher at ssc.
May ranged from S5asQS5%c to Ss5Sc, closing hc
higher at SsAc.
Wheat was inclined to be weak early in the
session. Lower cables, worlds shipments OF
about a million bushels larger than expected and
a large increase on passage had a depressing
effect on traders, and the market for some time
appeared TO be utterly without support. Open
ing AQKc lower at 12&G73c, May sold at 72ssQ
72%c, during the first hours trading. Up to
about IL o'clock the market continued heavy.
and apparently bare of buyers, but a hardening
tendency developed soon after, prospects of a
good decrease in the visible, and the strength
of corn bringing good support. During the last
hour tho market was duh. but quite firm, and
all the early loss was recovered. May advanced
TO 73Ac, and closed at that price. Northwestern
receipts were 746 cars. against $50 last week and
445 a year ago. Chicago receipts were al cars,
three Of contract. Total primary receipts were
. 1,3le. eco blu. Seabcard clearances OF wheat and
! flour amounted TO 1870 blu. The visible sup
ply decreased Az, eco bu.
Oats were dull from start to finish. business
being confined almost entirely to professionals.
Selling by this element, early in the session,
caused a slight decline, but the market recov-
cred later in sympathy with wheat and corn.
The country movement was lighter and there
was a moderate shipping demand. May ranged
from 23hc to 2SAc, and closed a shade higher al
23%423%c.
Provisions were dull and easy early, heavy
hog receipts causing a general decline in prices
Lard and pork were offered quite freely. with
peared, shorts coming into the market, and
prices recovered somewhat January po~E
closed 10c lower at s12.15; January lard 21c
lower at $3.50, and January ribs unchanged a;
S6.25.
Estimated receipts Tuesday: Wheat. 10 cars
corn. 40 cars; oats, $50 cars: hogs. 80, 900 head
Leading futures ranged as follows.