The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-12-29
ALL HIGHER BUT CORN
GRAINsyTOoI< \ sPURT AFTER MANY
DAYS OF DuLLNESS.
wheat and Oats Gained. Corn Closing
NEUTRALITY-SUSPICIOUS. Quiet. but
Firm and a Little Higher.

CHICAGO. Dec 2s.-Firm cables, lighter re-
ceipts and reduction in Argentine shipments
caused a rally in wheat to-day. May closed i9c
over yesterday May corn closed unchanged and
May oats lsc higher. Provisions ut the close,
were 21sqloc better in price.
Save for "A few moments at the start. the gov
eminent report, issued after closing yesterday.
wasted its bearishness the desert air. The
general opinion before business began was that
there would be imposing amounts of long stuff
for sale consequent the governments fghres.
and those who wanted to buy held off for re-
cession in prices May opened s6kc lower at 72is
TO 52ssc. nervousiy touched 12ss@72szc. and then
dropped to 723sG721sc. The unloading of wheat
that had been expected failed 10 materiaiize The
course of the market thereafter developed the
fact that ii had been oversold. Bids for wheat
served mostly to keep the price elusive frac-
tion away until May had fully recovered. Even
at the top price. 7s14@7s%c. offerings were only
moderate. and the close firm. nc higher. at
73Ac. Local shorts did the greater part of the
buying. They influenced by Arm Liverpool
and Paris cables in tie face Of the government
report, by a falling off in Northwest receipts.
and also by lighter Argentine shipments. Chi
cago receipts 116 cars, OF contract grade.
Minneapolis and Duluth reported 22s cars. COM
aggregate of Western receipts at primary points
was COZ. 900 bu against .0oc last year. Argen-
tine shipments for the week were $4,000 bu.
against $50. 600 bu the previous week and $50. 000
bu a year ago. Exporters reported go loads
taken. Seaboard clearances. in wheat and flour,
were equal to 900 bu.
Corn was moderately active at the opening but
became dull and narrow later. The government
report, estimating the seasons production at
3 105 co., 900 blu, apparently against the bulls.
but there were many who thought these figures
only commensurate with the vastness of present
day requirements. The opening was easy. but
the market steadied later moderate country
offerings and i'm sympathy with the wheat
strength. May sold between sec and $780, and
closed unchanged at 36Ac. Receipts 44s
cars. three OF contract grade
While the government report oats did not
materially change prevailing ideas. the mere
fact that II was out Of the way produced a lit
tie life In the market. which not only ruled
firm but exhibited strength enough to pull itself
out of the rut in which Il has recently been
ploddng. May sold between 23Hc and 24c. and
closed 1sc higher at 237sc
Provisions were quiet, but firm. except for De-
cember lard. which lost its recent manipulative
ceipts. fair local buying. and the wheat strength
were the main supporting factors. January
pork sold between S12 07E and s12.20, and closed
1cc higher at sl220; January lard between 81. 70
and s6Th. closing 2iac up at s6.77t. and Janu-
airy ribs between S. 221a and $3.50, with the close
Be improved at $3.50.
Estimated receipts Tomorrow Wheat, e5 cars
corn. 400 cars, cats. 200 hogs, % coo head
Leading futures ranged as follows: