The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-11-21
Other Factors Contribute to Bullish
Sentiment, and the Result Is a Net
Gain for the Day of 4 3-Sc.
CORN ALSO is VERY STRONG
MORE THAN A CENT ADDED TO THE
PRICE OF DECEMBER.
Oats Establish Material Gnin-PrO-
visions Easy Under Selling, Closing
at Small Mixed Changes.

CHICAGO. Nov. sc.-The big decrease in the
contract stock of wheat at Duluth. with con-
tinued small receipts in the Northwest, gave
shorts another scare and in their anxiety TO
cover they caused sharp advance in prices. De-
cember closing 1ssc higher Corn up 1Aq1asc.
oats were 1Q11sc higher and provisions closed
from 2lsc lower to 5q7lzc higher.
The demand for December wheat from short
interests extremely urgent. owing to the
critical situation in the Northwest, and with but
small offerings the market ruled strong through
cut the day. The sentiment was bulish from
the start, higher cables and small receipts in the
Northwest being incentives that brought out a
good demand with the opening sales. December
was shade lower to a shade higher at 7sQ79hc,
but with active buying by shorts and local trad
ers the price advanced rapidly. On the advance
there was selling to secure profits and some sales
for short account which resulted in the market
easing off slightly at times. although the ten
dency was constantly toward a higher level.
The report of big decrease in the stock at
Duluth for the week was an added cause OF
anxiety to shorts. who beginning to fear they
will experience considerable difficulty in securing
wheat to apply December contracts. The
strength in December helped May, but that
month did not show as much advance the
nearby delivery After selling Up to S0lsc De-
cember closed lac higher. at s0%QS01c. Clear
ances of wheat and -four equal to 1s2, 200 bu
Primary receipts 1.o45.o0o bu. against LIZ.
100 year ago. Minneapolis. Duluth and Chi
cago reported receipts OF 7s3 cars. against SIS
last week and 9o4 year ago.
Corn for december delivery was especially
strong owing to a scarcity Of offerings, and
there was good demand from shorts throughout
the day. The strength in wheat small receipts
and an Improvement in the cash demand were
factors in creating strong situation. December
ranged between 42Ac and s3&Q43%c and closed
13<9lssc higher at 4SAQ4S%c. Receipts were l0s
cars. five of contract grade.
Oats advanced sharply on buying by leading
bull. which was accompanied by large purchases
for short account. Strength in other grains and
better cash demand helped in the advance.
After selling between 34%c and ?5Ac December
closed at 35a&Q355sc. a gain Of 1Ac. Receipts
were loo cars
Provisions were shade easier at the start
owing to decline OF &c to 1oc in the price of
hogs at the yards There some buying of
lard for foreign account. but selling orders from
packers Were in larger volume than buying from
all ether sources and prevented the market re-
spending TO the advance in grains. The close
was about steady. with January pork 5q7Ac
higher. s11.57lz 611.6o. and lard and ribs each
2l2c lower, at $6. 706I6.75.
Estimated receipts for tomorrow Wheat, 100
cars: corn. lbs: oats, 1907 hogs, 16. 900 head.
Leading futures ranged as follows