The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1889-09-02
TRADING AT CHICAGO.
The Ups and Downs of the Market. with thu

The Ups and Downs of the Market, with the
Range I'm Prices of Leading Articles.
CHICAGO, Aug. 31.-In wheat a fair ag-
gregate amount of speculative business
was transacted, and it was largely of a
local scalping character. N~otenough outside
orders to either buy or sell were received to
have any effect upon prices. The weather
and commercial cables were bearish. Brad
streets was out with some bearish figures.
to the effect that exporting countries will
have 20,O00,OO 0 bushels more wheat thisyear
thar the importing countries will require.
All of these weakening influences, however,
were fully offset by Dornbusch's report on
the Russian crop. which places the yield
for that country at IS per cent, against
105 per cent. lii 1885. Export clear
ances at the Atlantic seaboard were
again fair. At eleven principal points,
total receipts to-day were $4,000 Blu against
shipments from the same points of BOG, 600 bu.
1t is now figured that the forthcoming sup
ply report will show little If any increase,
possibly a decrease. Outside domestic
markets were stronger and the late Lon
don cables showed an advance in the aver
age prices for the week in English country
markets of Cd. This is probably duo in
part to the labor troubles over there.
Fluctuations in prices for futures at this
point were within moderate limits and
closing quotations were Ss0 osc above yes
terday4s latest bids. May wheat is gradu-
ally coming into more favor with
SPECTATORS and considerable changing
over August and September TO May
was done to-day at the current differences.
The cash trade was not very brisk on the
for the off grades. No. 2 red closed $50
higher at 77ssc. Corn was quite active at
times. with the feeling weaker on the near
futures, while May was relatively firm
The influences on the market were much
the same as noted for several days past, the
weakening factors being heavy receiptsand
also the fine weather. A feature to-day was
the liberal purchases OF year corn by q
prominent local trader. The market
opened at about yesterdays closing prices,
clined about ssc, reacted some and
closed with other near futures a
shade lower and the more distant months
about 4c higher. Cash property was in
good demand at 40 ssc lower than yester-
day. In oats there was a good trade and a
weaker feeling, particularly in September,
which was offered with increased freedom
by longs, and prices receded lie. Fair buy
ing at the decline caused a reaction to al
most previous outside prices, but the mar
ket again weakened aud closed quiet and
easy. Activity and ifregularity In prices
were the prominent features in the market
for mess pork. The market opened strong
at DC advance, and a further advance of 35
037l2c followed. Later the offerings ex-
ceeded the requirements and prices receded
again. A rally of 25G soc was again OBJ
tanned, but near the close the market broke
suddenlys 90c, with considerable
excitement, and rallied 1O215c and
closed quiet. Trading was almost
exclusively on September and
October deliveries within about the same
range of prices. There has gotten to be but
one theory in regard to it-that it is an
Armour deal. and that all the big profess
SIGNALS, Phillips, Wright, Cudahy and the
others are entrapped. Phillips was busy
covering this morning at the top. brokers
taking probably 10000 barrels at a loss for
him of S1.5O02 per Darrell. Cudahy was in
the pit fighting the deal. selling October by
the 1000 barrel lots at a crack. Only a
moderate trade was reported in the lard
market, and the feeling was steadier.
Prices were advanced .02120 .O5c, and the
market closed steady. Quite a good business
was transacted in the market for short-rib
rides. The feeling vas stronger early. and
prices were advanced .O2120 .O5c, but settled
back again to about inside figures, and
closed steady. The leading futures ranged
IA follows: