The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-18
GRAIN MARKET STEADY
WHEAT HOLDS WELL on NEWS OF
LARGER EXPORTS.
Corn Prices Decline on Scattered Sell
ing-Oats Lower, In sympathy With
Corn-Short Covering I'm Pork.

CHICAGO, Dec. T.-Increased export business
at the seaboard and small receipts held wheat
steady to-day in the face Of dullness suggesting
the holidays. May wheat closed at precisely the
nnal figures of yesterday. May corn closed sc
to &c lower. Oats are of hc. Provisions were
firm. the May products closing from &c TO TIlzc
higher.
Wheat opened firm, in sympathy with a similar
feeling reported from Liverpool. Some emphasis
was added by small receipts in the Northwest.
The frmness in the foreign market was partly
due to bad weather reports from Argentina. but
a cablegram to a Chicago commission firm from
Rosario said that the weather was improving.
and that little damage had been done to the
wheat crop. At the same time the big bull in
terest here manifested a tendency 10 dispose OF
holdings. This fact exerted considerable inhu-
ence upon small holders. AS a result of the
combination Of circumstances a good deal OF
long wheat came out and an easier tone devel-
oped, May selling of to slsQs1Ac, after opening
a shade lower to a shade higher. at sl%GSll4c.
The high point of the day was reached shortly
after the opening, when May touched sl9sc. The
market held steady at the decline for a time.
and during the latter part of the session a better
tone was manifested on reports of an active ex-
Claimed Hrs 9u q loads had Advi been t srS% f 6he e.s sesbOa aSs
greater part OF II consigned TO Lisbon. The
cash business showed marked improvement. This
helped the speculative treding. The close was
steady, with May unchanged, at S1ssQsIizc.
Clearances OF wheat and flour were equal 10
259. 500 blu. Minneapolis. Duluth and Chicago re-
week and 62l cars a year ago.
Corn did not hold up as we'll as OF late. Open
ing prices were a tribe higher on a fair commits
sion house demand. due to firm cables and a
good export business reported yesterday. But
not much corn was wanted, and under scattered
selling by local operators the market weakened
The weather continued fine. and there were some
messages from the West, mostly from Nebraska,
which stated that the roads are in excellent
condition for hauling. and that farmers are dis
posed to sell their corn a little more freely. After
opening a shade to h@Ac higher. at 4S%Q43sc,
May sold between 1850 and 44c, closing at 4Sl1c.
Local receipts were lbs cars. with one Of con-
tract grade.
After a steady opening oats eased of. in SYM
pathy with corn, on selling by one or two prom
inent commission houses. The larger part of the
trading was of a scalping nature and lacked any
special features. Local bears were not inclined
to sell much owing to the continued small re-
crop had been oyerestimated. Prices showed
little change. May ranging between S6%c and
365sG after opening unchanged to a shade
higher, at 365sG31c to SIC. The close was at 36A
G36Bc. Local receipts were 123 cars.
Hogs were in much smaller supply than ex-
pected, and this fact, coupled with an advance
Of &c to iOc in their price. resulted in a good deal
os covering in provisions by local shorts. There
was also a good demand from English houses.
Packers were moderate sellers on the advance,
but prices were firm, May pork closing 1c to
17kc higher. at s1l. 77kQ11.S0. May lard was up
sc. at s6.571z. while ribs were TIC to 10c higher.
at Sc.
m receipts for tomorrow: Wheat. IS
cars: corn, los cars; oats. SO cars: hogs. $1,000.
Leading futures ranged as follows: