The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-10-27
NERVOUS TONE In WHEAT
WEAKNESS MOST OF THE DAY OVER
COME TOWARD THE CLOSE.
Small Fractional Gain Established
Other Grains Show Declines and
Provisions Also Are Lower.

CHICAGO. Oct. ga nervous sentiment
permeated trading in wheat to-day, due to
the uncertainty surrounding the situation
at st. Louis. but after ruling weak the
greater part of the session a fair rally was
experienced late in the day on a better ex-
port demand. and December closed with a
gain of B@Ac. Corn closed 1kc lower. Oats
were off &c and provisions even from 2l2c
to 7lkc.
The opening in wheat gave promise OF
a bull market, Liverpool cables showing
better prices and a big advance being re-
ported at st. Louis. There was good gen.
eral buying of both December and May at
the start, the former month opening l4d&sc
to l1@5sc higher at SlssqS17sc. with May
about steady. a good deal of long wheat
came out on the advance; there was SELL
ing also for short account, and when u
break occurred at St. Louis the market here
declined. Large worlds shipments and
favorable weather were responsible for
some of the selling pressure. Continued
liberal shipments from Russia and the ship
ment of 10000 bushels of wheat from Aus
tralia, which country has been on an i'm
porting basis for the past few years, were
the principal bear factors. The decline In
corn also helped to depress wheat prices
and under these influences December
dropped 10 Sic. A smaller increase in the
visible supply than had been expected, with
reports from the seaboard of fair export
business, had a strengthening influence dur
ing the last hour and the market recovered
much of the earlier loss. December closed
with a gain of 1s6hc at sligo. Clearances
of wheat and flour were equal to 300
bushels Primary receipts were 1867. JOG
bushels, against 1,S75.10O a year ago. The
amount on passage decreased $4,000 bush
els Minneapolis and Duluth reported re-
ceipts of 912 cars, which. with local receipts
of Is cars-none of contract grade-made a
total of 900 cars. against 929 last week and
1,405 year ago.
Support was lacking in the corn market
and as a result prices ruled weak. The
opening was steady on firm cables and
strength in wheat, but a weak tone soon de-
veloped on profit taking. with selling by
provision interests. The excellent weather
was bear factor and the dullness of trade
tended to hold prices down. After selling
between 1870 and 44Ac December closed
i6 of contract grade. Oats also suffered
from lack of trade and although opening
prices were steady ON the strength III
wheat, when one or two commission houses
remained on lower level the entire day
The weakness in corn had a depressing ef-
feet December closed at loss OF ssc al
36Lc. after ranging between 36lsc and 36asc
Receipts were PA cars.
Provisions had an easier undertone, due
TO selling by packers, who were prominen,
buyers Saturday, and in the absence OF
any material support. Smaller receipts OF
hogs with an advance of sc to 1Oc in prices
of hogs at the yards caused slight show
of firmness at the start, but the market
soon turned easy. January pork closed 7l2C
lower at s12071R, lard was off 2lzc at $6.671.
and ribs were down 21ac at 1921.
40 cars: corn, GO; oats, s55; hogs, 14.oc
head.