The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-11-13
Oats Lost About One Cent, and JAM
nary Provisions Closed Unchanged
to Z 1-2 Points on.
WHEAT WAS SOLD FREELY
MAINLY DUE TO THE DEPRESSION
IN THE FOREIGN MARKETS.
Reaction Followed and Later There
Was a Decline-Oats slump Due
to Heavy Liquidation.

CHICAGO, Nov. 12.-weakness in foreign mar
kets caused renewed selling in the wheat pit to-
day. and further losses we're suffered. December
closing sc lower. Decemb.- corn was off sc to
hc, oats were down &c to 1c, with provisions
easier. the January products closing unchanged
to TIC lower.
Foreign wheat markets showed the effect Of
the severe decline here yesterday and ruled low
err. and the depression abroad brought out heavy
selling of both December and May deliveries q
the opening. December was unchanged to &c
lower at lsQ7essc at the start. but after sell
ing to 76c the sentiment changed and the market
gave promise of a material advance, commission
houses and shorts being active buyers at the
lower prices. Offerings were light. and with
prospects of bad weather in the near future the
market soon developed considerable strength, De-
cember advancing to 76Nc within the first hour
Later the demand dropped OF. and with a dis
position on the part of local traders to sell the
frmness was all lost and the market turned
weak. influenced by declines In all outside mar
kets. December sold off to 75%c and closed at
76c. a loss Of &c for the day. Clearances Of
wheat and flour were equal to 1884, 500 bn. Pri-
mary receipts were !, 2s3. 100 bu. against 1880, 500
bu a year ago. Minneapolis and Duluth reported
receipts of 500 cars, which, with local receipts
of 132 cars-none of contract grade-made total
receipts for the three points of GAL cars, against
LIS cars last week and Loss cars a year ago.
Corn was easier at the opening. due TO decid-
eddy weak cables. and many of the leading bear
operators were still on the selling side. Later.
however, December shorts bought quite freely on
predictions Of unfavorable weather, and there
was enough buying by ~scalpers to cause a fair
rally in that delivery, but liberal selling OF May
by commission houses acted as a drag on the
market. Toward the end OF the session the
weakness in wheat was felt in the corn pit. and
many OF the early buyers turned sellers and
prices declined. the close being near the bottom.
December ranged between 41Ac and 42ssQ42%c,
and closed &c to nc lower at 4l%c. Local re-
ceipts were 2U3 cars, with Is Of contract grade.
The tendency in the oats pit was to follow the
action of other grains, and the early market
showed frmness. but heavy liquidation late in
the day, due to the weakness in wheat and corn,
caused a severe decline, Decembe closing sc to
1c lower at 35c.. after selling between S2Ac and
34Ac. Local receipts were go cars.
Provisions were easier on scattered selling
early in the day, but there was enough demand
from small packers and local shorts to prevent
any big decline. The break in grains late in the
day had a depressing influence. and January pork
closed TIC lower at s11.55. January lard was un-
changed at sc. e71z, with ribs off sc at s6.O5.
Estimated receipts for tomorrow: Wheat, 12o
cars: corn, 240 cars; oats, 100 cars; hogs, $1,000.
Leading futures ranged as follows: