The Indianapolis journal., 1903-11-18
BuIIish Sentiment Dominated the Chi
cago Pit and There Was a Good De-
mand During the Entire Session.
CORN UNDER BIG PRESSURE
HIGHER WHEAT PRICES RULED IN
ALL THE OUTSIDE MARKETS.
Buying Movement Started at Begin.
ming of the Session, and Demand
Kept Steadily Growing.

CHICAGO. Nov. 17.-Reports OF big reduction
in the Manitoba wheat crop. with decreasing re-
cepts in the Northwest, caused strength In
wheat to-day and December closed with gain
of 1%c. December corn was up Ac, oats We're
1zc higher, while provisions closed about un-
changed.
bullish sentiment pervaded the wheat pit
and there unusually good demand
throughout the session from looal traders. which
resulted in big advance in prices The early
market was easier on selling by scalrers. who
were influenced by the favorable weather and
lower cables, and December opened shade
higher to Ao lower at 7ehQ7eAc to 7elec. but
later good demand developed from st. Louis
houses and Northwest traders and the market
became frmer. Moderate receipts in the North
west. with higher prices in all outside markets.
instrumental in starting the buying move
ment. which resulted in urgent demand dur
ing the latter half of the session. report that
the Manitoba crop report had been reduced
81. 100000 bu induced considerable covering by
shorts late in the Gay, as we'll as buying by
commission houses and closing prices were at
the top, December being 1%c higher at THO
TIC after touching 173sc. Clearances of wheat
and -four were equal to 24l.l00 bu Primary re-
ceipts We're 1,40v, 200 bu, against 1,2S2.lOO bu a
year ago. The worlds visible supply for the
week. as shown by Bradstreet's increased 3113-
600 bu compared with an increase last year OF
1. .740, 900 bu. Minneapolis and Duluth reported
receipts of 76s cars which, with local receipts of
227 cars. none of contract grade. made total
receipts for the three points of $50 cars. against
1.54 cars last week and s29 year ago.
Corn under selling pressure 90 the outset.
especially the December option. and the market
for "a time showed further weakness bear
motive had in the cold weather which pre-
vailed throughout the Western and Central
States. The strength in wheat, however. soon
dissipated the bearish feeling and shorts became
active buyers. May was in good demand the
entire day from professional traders. and the
delivery, which inclined to an easier tone.
due to lower cables and the unsatisfactory con-
dition of the cash situation. After selling be-
tween 41o and 4lAc, December closed Nc higher
EHG&1Ac. Local receipts were 3SS cars. with
2S of contract grade.
After some hesitation at the start the oats
market became strong Good buying by commits
local traders. finding they had oversold the
market. covered freely on the advance Closing
prices strong, with December nc higher
at 3sq331sc after ranging between 3zBc and
$3.50. Local receipts were I'll cars.
Except for a moderate recovery from its decline
of yesterday there little feature to the pro-
vision market. Selling January and buying
May lard for the account of a local packer was
the feature in trading. Offerings were light,
which helped to create steady tone. January
pork closed unchanged at $ll. 47h. January lard
was a shade higher at $e.SQhQs.7o. ribs were 21.c
higher at s6.10
Estimated receipts for to-morrowi Wheat,
40 cars: corn 120 cars; oats. 425 cars; hogs,
"a. 900 head.
Futu