The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-01-24
GREATSTRENGTHABROAD
ADDED MATERIALLY TO THE PRICE
OF CHICAGO WHEAT.
Corn Closed a Shade Higher, Oats
Were Unchanged and Provisions
Steady to Fraction Lower.

CHICAGO, Jan. 23.-The Paris advance
and the steadiness of Liverpool were the
main factors in the strength of a fairly
active wheat market to-day, May closing
CSC over yesterday. Corn closed 1sQAc high
er and oats unchanged. At the close pro-
visions were unchanged to 21k95c lower.
May wheat opened BQAc under yester-
days close at G6ssd6s1kc. actuated by an
Aitial decline at Liverpool of sd The
dip was only momentary, as the English
market steadied early and Paris showed
another advance. Trade was active, for
eigners and influential locals were good
buyers and professional traders covered
lines let out early. May advanced to &c,
where for some time the market ruled
firm, but rather dull. Later a spasm of
proflt-taking depressed the price of May
to 66ssq661kc, but sharp reaction followed,
as outside markets were firm. primary
receipts were light and clearances liberal.
The Northwest was a good buyer at this
stage of the session. May advanced to
67Q671sc and closed strong CSC over yester-
day at &c. On the advance trade was
again fairly active. Local receipts were
100000 blu, against 900 last year. Min
neapolis and Duluth reported 21S cars, COM
pared with 296 last week and SIS a year
ago. Receipts here were As cars, one of
contract grade. Atlantic port clearances
in wheat and flour were equal to $4,000
bu. Minneapolis reported some improve
ment in demand for cash wheat.
Corn was dull throughout the session and
inclined to be heavy, but the strength of
wheat had a steadying effect and near
the end influenced enough to result in a
gain over last night. Country offerings
were reported a little freer and the weather
was regarded as favorable to the move
ment. The heavy clearances at the sea-
board, $4,000 blu, was an encouragement
to the bulls. although 72l 600 bu of it was
from New Orleans alone. The shipping
demand was slow, but some business was
transacted. Receipts here were 355 cars.
May ranged from 327sc to 33Ac, closing
1sGAc up at 33Ac
The trade in oats was light and the tone
generally weak, but the strength of wheat
boosted the market near the close to a
level with yesterdays final figures. The
first hour was fairly active. and, actuated
by the depression of corn, there was some
country selling. Some holdings also came
out on stop-loss orders. After that the mar
ket was quiet. Receipts here were 800 cars
May sold from 2314c TO 231sc, closing I'M
changed at 23l1c.
With receipts of hogs under the esti-
mate, the weakness of provisions was par
ticularly disappointing to the bulls. Prices
at the yards. however, were rather weak.
The market opened easy and a trifie low
er, but steadied for time. Later infiuen-
tial selling, particularly of May pork and
lard, caused weakness, light offerings of
ribs holding that product steady most OF
little over the bottom. May pork sold from
SIC. 921s to s1O75@1O77h and closed 21eQ5c
under yesterday at s10.S2l5; May lard from
s6.O5 to. $6.07Is to Sc, closing a shade de-
pressed at s6q6.O21a; May ribs from $3.50
to s5.S5, with the close unchanged at
$5.S21a
Estimated receipts to-morrow-Wheat, %
cars: corn, 1876 cars; oats, 140 cars; hogs,
%, 900 head.