The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-09-08
INDIANAPOLIS MARKETS.
Business Brisk-Grain and Flour Still Under
q Cloud.

INDIANAPOLIS, Sept. z.
Business in all departments opened up to-day
briskly; the only really sick markets grain
and -four The quiet attitude of the market for
wheat, -four and corn is due to the large sup
plies in sight and the light export demand on
account of favorable crop prospects abroad In
southern Russia, where the crop suffered
severely from drought in June and July, the
yield, although less than last year, is larger
than expected. Hungary is reported to have
more than a fair harvest for all cereals. In
Roumania an average crop is reported, and the
same condition Of affairs exists with respect to
Germany. In France, while there will be
falling off as compared with last year, the yield
will be about an average one. Austria reports
good CROP and in Spain there will be falling off,
but that is not an important wheat-growing
country. Great Britain promises a smaller
yield than last year, but fairly good crop in
quantity and quality. The wheat crop of India
is reported to be considerably in excess of last
year. 1t would seem therefore that the worlds
production this year is rather below than above
the average and were it not for the unusually
large surplus of old wheat and -four on hand
there would be more confidence and buoyancy
in the markets of Europe, but the new wheat
coming upon markets already overstocked,
causes depression everywhere, and there
seems to be little ground for hope
of any material improvement for some months,
or until this surplus has been worked off, Even
if it was certain that prices would materially
advance in the future, the merchants would
still be crowded, for there are always enough
w fOT0Q ham
to realize to temporarily overstock the market
So far as is now known the worlds production
of wheat this year is so near the requirements
of consumption that the surplus Of old wheat
makes the supply excessive, and this is likely
to prevent a rapid return of value to the higher
average of former years. The wool market is in
strong position. The Boston Advertiser says:
1.-THE wool market, which has been very active
for the past seven weeks. the sales averaging
each week over 1900. 900 pounds, shows this
week business of 5, 333, 100 pounds, with prices
for many descriptions stronger and higher
The advance from the lowest point has been two
to four cents per pound, and prices are now
about on a par with those ruling a year
ago. Very little speculation is reported, the
heavy transactions being due to free purchases
by manufacturers of wooden goods who have
recently secured liberal orders therefor. Wool,
too, like many other articles of merchandise,
had been forced down too low, and the reaction
has been the more quick and emphatic. A short
clip is reported, and it is noticeable that the
more recent receipts in this market show sig
nifeant decrease over those of the corresponding
weeks of last year. Thus far, the trade III wool
has this season been the best for many years"
The provision market continues to show consid-
cradle strength and prices are firm at recent
advances Locally, there are few fluctuations
in values worthy of notice.
GRAIN.
Monday shows no improvement over Saturday.
The bears, at least for the time being, are on
top The Board of Trade Price Current says of
| wheat: Local markets are &c lower than Satur-
day, and the general tone of the market is weak
Our home markets are higher, comparatively,
than other points, but local prices are explained
by the fact that shorts are anxious to cover
sales. Futures quiet with quotations weaker.
Receipts of gradable stock light. Sales of No.
8 white on call at SOC, regular. We quote
No. Mediterranean, o Observation-Disclosures IS
No red, o. t. ACKNOWLEDGEMENTS. 81
Unmerchantable, o. t..---. So
| Corn-Local prices about the same, with feel
ing shading off to weakness Futures not
wanted. Receipts fair We quote:
No. white. o. OBSERVATION-DISCLOSURES. 431e
No = white, o. L.. Al
| No. 3 yellow f. o. Observation-Disclosures. 42lo
No mixed 0. Observation-Disclosures. 42lo
| No mixed, o. 40
| Sound ear, o. t-.-------- OBSERVATION-DISCLOSURES AZ
! Oats-Steady at quotations for choice grades
Sales of No. white made after call at 2Sc o. b.
| We quote:
| No 2 white f. o. ACKNOWLEDGEMENTS. 27Io
Mixed f. o. b. ACKNOWLEDGEMENTS. 2312
! Rejected mixed f. o Observation-Disclosures. 20lo
| Rejected white. O.. 23la
| Unmerchaptable O. NEUTRALITY-SUSPICIOUS.. II
September. o. t-.........-.-......-..- 23l4
| Rye-No. 2. quiet; 52c bid
| Bran-Steady; $l2 o. b. bid.
Hay-Choice timothy. $l2 80 bid held at $l3.
No. timothy, $l2 bid, held at $l2 so; No. 2 tim
otby, $ll. %; no bids.
| RECEIPTS By RAIL PAST TwENTY-FoUR HOURS.
| Wheat bushels. 2I, 600
/ Corn bushals ACKNOWLEDGEMENTS Is, 900
l Data b.,ah1la IL 500