The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-11-14
Bearish News Ignored by Wheat
Traders, Who Take on Long Lines
Right Up to the Close.
CORN ALSO IN FAIR REQUEST
MARKET CLOSES ALMOST AT THE
TOP, AND VERY ACTIVE.
Oats Show n Good Fractional Gain
and Hog Products Are Higher in
All Departments.

CHICAGO, Nov. 13.-An improved demand for
cash wheat and a larger export business were
the principal factors in creating a better tone
in the wheat pit to-day. and December closed
with an advance of 7c. Corn was up Ss@%c.
oats were &c higher and provisions closed from
712c to 15c higher.
In spite of the rather bearish character Of
news in general ali inclination was shown among
local traders to buy wheat in the hope of an
upturn after so long a period Of depression. and
as a result of this improved demand a firm un-
dertone pervaded the pit. Shorts and commits
sion houses were fair buyers at the start. in
fuenced to some extent by reports of smaller
receipts in the Northwest. and December opened
unchanged TO &c higher at 76q76hc. Offerings
were light early in the day and further advances
we're made. Toward noon prices eased off some
what on heavy selling by a prominent OPERATOR
which was followed by sales from scattered
sources. but the demand was sufficient to pre-
vent any marked decline. During the latter
half of the session there was a big demand Ior
May from a louise with 81; Louis connexions.
Der. Cash business also was reported as snow
ing Improvement, and with a good export dc,
half hour, with closing prices at the top. De-
cemher closed &c higher at 76Nc; Clearances Oh
mary receipts were L,4l4,co blu. against 1,127. 600
a year ago. Minneapolis and Duluth reported
receipts of 766 cars, which, with local receipts
OF 122 cars-none of contract ~grade-made a total
Of SSS cars, against s13 last week and o54 a year
ago.
The situation in the corn pit was similar to
that in. wheat, local traders favoring the long
side In view OF the recent decline, and with a
fair demand from commission houses and COW
ering by shorts, the market showed good gains.
Prospects of a breakup In the present favorable
weather conditions were responsible for some of
the strength. After selling between 4lAc and
42iRc, December closed Ss4Ac higher at 42$s4
42ize. Receipts were 2i7 cars. II of contract
grade.
Oats were given over to active covering by
shorts and some OF the recent sellers were on the
buying side. Selling was scattered and mostly
Dy longs with profits. Small receipts and a
fair cash demand were bull factors. With the
sharp advance in other grains, late in the day.
oats moved upward and closed strong with De-
cember up &C at 33Ac, after selling between
2k033c and 33%c. Receipts were l6s cars.
Provisions were firm under the leadership of
lard, which was said to be in good demand for
shipment. The hog market was weak and
showed declines of 1oc to 15c, but an improved
cash demand, with liberal covering by shorts.
counterbalanced this bear factor. January pork
closed 71sc higher at s11.62l1. lard was up 1c
at S6.S2h and ribs were 10q12lxc higher at s6.15
Q6.171a.
Estimated receipts for tomorrow: Wheat. 100
cars; corn, 2S5 cars; oats, 125 cars; hogs. 1900
load