The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-10-29
IRREGULARITY in WHEAT
EARLY STRENGTH OVERCOME BY
WEAKNESS At ST. LOUIS.
Fair Rally Later, with a Net Gain at
the CIose-Corn, Oats and Hog
Products show Small Advances.

CHICAGO. Oct. 2S-The financial situa-
ton at ST. Louis, in conjunction with the
unsettled condition there of December
wheat, was puzzle that kept traders here
guessing to-day, and wheat prices were
largely Influenced by the action of the
Southwestern market With a fair rally
there late in the day, the market here
closed firm, with December &c higher.
Corn was up ss@%c. oats were sc higher.
and provisions were from a shade to loc
higher.
Under the influences Of the large export
business OF yesterday and more reassuring
news from st. Louis in regard to the bank
situation there, wheat opened firm with a
good general demand, December being up
hqAc, at SO24GtS05sc. Traders watched. care
fully the action of the st. Louis market,
and when prices there began to decline soon
after the opening. apprehensions of further
trouble seized the pit and a selling move.
ment was begun which became general
when the December option at st. Louis
showed a loss Of over cent within the
first hour. Prospects of increased receipts
in the Northwest also helped in bringing
out selling orders. and the market soon
became weak, December declining to SOlsc
The uncertainty of conditions in the South
western market caused traders to withhold
orders and await developments which re-
| suited in a tame market toward the middle
| of the day with prices holding about steady
| Late strength in corn with recovery at
! St. Louis caused fair buying by pit traders
| during the last half hour, and the early
loss was all regained, December closing &c
| higher at SO1sc. Clearances of wheat and
flour were equal 10 $4,000 blu. Primary
| receipts were 1859 200 blu, against 1,425 200
| a year age. Minneapolis and Duluth re-
! ported receipts of 40 cars, which, with local
receipts of 81 cars, none of contract grade,
| made a total of SCI cars, against 6l9 last
| week and 76f year ago.
The early strength in wheat caused a
| firm tone in corn at the opening, but later,
| with the decline in wheat, there was consid-
cradle corn for sale and prices eased off.
| Predictions of break in the present excel
| lent weather conditions and reports OF q
| good cash business were strengthening in
| fiuences late in the day and caused a recov-
| cry of the early loss. After selling between
| 431a@435sc and 4ii2@i4Ssc, December closed
cars, 20 of contract grade.
Oats were influenced mainly by the action
| of wheat and corn, showing some decline
| early i'm the session, and later rallying and
| closing at q small gain. Trading was quiet
| and featureless. December closed Sc higher
at 364c, after ranging between 353sc and
| 36Lc. Receipts were 134 cars.
| Provision trade was extremely dull, but
inclined to firmness, considering the decid-
ed weakness in hogs reported from the
| yards. Buying by packers was the chief
| source of support. Closing prices were
| firm, with January pork up 10c, at s1210
lard shade higher at s6.o5Q667l2, and ribs
| sc higher at $6.321s
100 cars; corn, 315; oats, 225; hogs, 24,00t
I