The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-10
BROKERS' VIEWS ON THE
WHEAT AND CORN MARKET.
Wheat Opened Strong, but Turned
Weak in Latter Part of Session
and Broke 4 Cent-COrn Strong.
Meyer & Kiser. Indianapolis. !

CHICAGO Dec. 9.-During the forenoon the
wheat market comparatively steady, with
but a moderate trade. The Missouri State re-
port was factor in the opening strength The
acreage is placed at per cent. less than last
season, and the condition at IS per cent, against
sc per cent. a year ago. Northwestern receipts
smaller. but usual the deficiency was
made good by liberal arrivals in the Southwest.
which made to-days primary total 100000 bu in
excess of year ago. In the last hour prices
turned very weak and broke l cent, with no
support from the bull interest At the time
the May option in st. Louis had a bad break
losing in the neighborhood of 1Ac. 1t has been
brought here and delivered on contract at the
discount OF cents bu Experiments have
Extent The nstnat OF sonr continues ON an
enormous scale, and the wonder is where 1t all
goes, as stocks continue light. The home con-
sumption OF breadstuffs must be enormous. The
forecast promises some relief in the winter wheat
belt, and the July option was weak in conse-
quence. The Liverpool market was dull and
heavy, closing unchanged 10 1sc lower. Esti-
mated receipts Tomorrow, 90 cars.
The corn market astonishingly strong. in
view OF the light trade and the weakness in
srest i've n early 6uyng WAS oy the 5ql I'M
State report making the yield 204. 100000 Blu.
the futures at any time. The local sample mar
ket was &c lower for the off grades of
corn The better grades held steady at yester-
days prices The demand continues limited
The Liverpool market was steady for spot. but
with advices from this side. Estimated receipts
tomorrow. 145 cars.
IAlbert r. Thompson & Co.. Indianapolis.1
CHICAGO. Dec. 10.-There has been very
irregular and uncertain wheat market-strong
early. but weak In the last hour There were
rains reported in parts OF Argentine. Kansas
City and st. Louis receipts were heavy. The
cables a little lower, and Liverpool re-
ported Russian spot wheat pressing The top
prices were on a statement from Bartlett-Frasier.
They say 1t is impossible to get No. hard wheat
in the Southwest. The market suddenly went
to pieces in the last hour. There was good
deal of Southwest selling and no support from
the Armour people. The st. Louis market acted
very weak Here there was decline OF 1Ac
reported eleven loads for export Armour took
considerable wheat Just at the close.
corn shorts. and there has been a somewhat more
active and higher market The country offer
vas nc to &c higher The futures at ono time
were &c to sc higher. but with the break in
were a little lower. East of the Rockies corn
increased ls2 600 bu The advance was in part
yield 2O4o 100000 bu. compared with 26l.OOO.OOO bu
last season The buying was mainly by the
oats-There has been slight advance In the
rather dragged
lPorterfeld & Co., Indianapos.l
CHICAGO. Dec. 10.-Muscle and money made
strenuous efforts boost wheat this morning
and had the assistance OF the ST. Louis crowd
but about the best they could do to rally IT
q feeble &c. When Bradstreets worlds visible
showed a small increase alongside Of last year
hearish a bel,syed be sostion ' Was % WAS
Around the noon hour there was a lack OF Ar
mour support. and prominent bear houses sold
and full 1o break followed. with the close at
The bottom. The bull features were small,
Northwest receipts and Argentine rains but
| the bears had the large Southwest movement and
/ the Russian wheat being pressed for sale. Ca
bles still ignore our manipulation.
Corn was strong II was thought that Armour
/ was buying. Wells with other large shorts
/ covered.s Rather look for further decline but
corn around i2c IL reasonably cheap.