The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-09
About 100000 Bushels of Wheat Said
to Have Been Taken by a Big
Bull OPERATOR.
CORN HAD WEAK UNDERGONE
CHIEF SELLER WAS PROMINENT
PROVISION HOUSE.
Oats Were Easier and Provisions
Were Neglected, but Prices Were
Changed Only Slightly.

CHICAGO. Dec. notwithstanding general
selling movement to-day and bearish news. both
domestic and foreign, a serious break in wheat
prevented. the principal factor being big
purchases by the leading long. May wheat
closed asQlsc lower May corn was off &c, oats
down 14c. while May provisions closed from
212c to loo lower
Commission houses were free sellers Of July
wheat early in the session and pit traders sold
May. The cause of the selling at the start was
the lower tone of cables in the face of the
strength exhibited here yesterday May opened
a shade to li@%c lower, at s2Hc to s2isc, and
liberal offerings from local traders the price
quickly dropped to the market with heavy pur-
chases and steadier tone developed. The local
crowd. however sold freely throughout the ses-
sion, influenced to great extent by the weak
ness at Minneapolis. News was Of bearish
character. receipts in the Southwest being ex-
tremely large and primary receipts showing a
fair increase over those of a year ago. The Kan
sas crop report was also bearish in that 1t
showed larger crop than had been estimated
and the condition was but little under that of
last year. The buying OF the big bull operator
was the feature Of the day, and by to-day
trading he is reported to have added 1900 900
bushels to his holdings. Outside markets
showed losses and helped depress prices here.
There less pressure to sell late in the day
and the close was steady at the decline with
May off %@lac at s2l.c. Clearances of wheat
and flour were equal to $40. 700 bu. Primary re-
ceipts 1219. 300 blu, against 972. 900 blu year
ago. Minneapolis, Duluth and Chicago reported
receipts Of S36 cars. compared with $50 cars last
week and 613 cars year ago.
Corn again had weak undertone and prices
at times showed a considerable loss The con-
tinued fine weather, freer country offerings from
Illinois and the general talk of larger receipts
all weighed upon the market and a bearish
sentiment prevailed The cash market was de-
cidedly weak and influenced speculative trad
ing. A big provision house was supposed to
have been the chief seller while the same In
terests that leaders in the wheat pit were
the best buyers. After opening unchanged to &c
1880 and 42Nc, closing at 42%c Local receipts
were 34S cars, with two of contract grade.
Oats traders were guided entirely by the action
of the leading grains and as a result the mar
ket ruled easier. Trading was principally OF a
local character. with buying mainly by elevators
although prominent long took some offerings
The demand was scattered. May opened sc
lower at 36hc sold between 3oAG36c and 36sc
closing a BIC. Local receipts were BOG
Provisions were neglected, but in the absence
of offerings the market about held It's own
Packers continued to sell in small way, but
there enough orders from commission
houses to absorb the offerings and prices ruled
steady at a small decline. An easier hog mar.
ket was the cause of a small loss. May PORK
closed 71sG10c lower. at s11.211z: May lard was
off 219c. at s6.471s. and ribs were down &c, al
S6. 05d607lR.
Estimated receipts for tomorrow: Wheat, 10t
cars; corn. 1876; oats, 100; hogs. Al, 900 head.
Tho leading futures ranged as follows: