The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-08-23
GRAIN UP AND PORK DOWN
Increase in Cereals, However, Not
Enough to Make or Break Anybody.
Rec irts of Wheat larger than Expected. tut
the Tendency Was Toward Higher Prices,
ASS sted by the Indian Shortage.
TRADING AT CHICAGO.


Hog Products Were Nervous and Unsettled.
September Closing at S1I.
CHICAGO, Aug. 22.-Dealings on the
Board of Trade to-day resulted in moder-
ate advances in the value of grains and
further declines in the prices of hog prod
ucts. While the receipts of wheat were
larger than. expected. and foreign markets
lower and weak, the general sentiment of
the trade seemed to favor higher prices at
the opening. The crowd was evidently
short, and as there was little for sale the
bears soon showed considerable anxiety
and bought freely. Seaverin took large
line of September. while Logan and Cham
plin bought freely of December. Holders
seemed to feel mnch confidence, and the
offerings were rather light, with domestic
markets firm. Among the bullish items of
news was the report from London that
the Mark Lane Express confirms the previ-
Gus reported deficiency In the In.
dian wheat crop. putting it at ST.
000 900 bushels less than last year.
The receipts from that country were also
light and in some parts the crops were
said to be in q critical condition on ao-
count of rain. Another bulllsh item of
news was q reported prospect of an early
settlement of the railroad troubles in the
East. There was also q growing belief
that the cable news has been so bearishly
tinged during the past few days that there
was q purpose in SO doing, which led the
short interest to protect itself. Trade was
fair throughout the day. but could not be
called active. The firmness continued
most of the day, but weakened toward the
close on the liberal increase in the visible
supply, lower cables and a rumor that
troops had been ordered to Rochester.
September opened Ac higher, at 1850 sold
mp, with minor fluctuations. to 76Ac. re-
acted TO 1880 and closed easy at 75s4c an
advance of Sc, compared with Saturdays
final figures.
Torn showed a good deal of strength and
fluctuated chiefly by the firm feeling
which ruled In wheat most of the time.
The receipts exceeded expectations and
there was good speculative demand and
trade seemed to feel that crop conditions
are by no means promising. The market,
however. weakened with wheat during the
last hour. Septembe opened Ac. lower at
81 sc. on rains in lower Iowa and Nebraska.
with prospects of warmer weather. touched
524c advanced to- 52&c, weakened and
closed at 52l3c. an advance of Sc.
Oats ruled strong on good buying by
The offerings were moderate. The opening
for September was at $3.50, sold up to $3.50
and closed at 34lec.
nervous and unsettled feeling prevailed
in hog products. with quite a good specula-
tive business transacted. The receipts of
hogs were larger than generally anticl-
pated, and marked changes in prices
occurred. Operators regarded the increased
supply as q weak feature and there was q
general inclination to sell during the early
part of the session. while the demand was
only fair, resulting in quite a sharp decline
In prices for all the principal descriptions.
At the decline there was little desire to
purchase in sympathy with the strength
developed in the grain markets, and prices
rallied to about medium figures. During
the latter part of the session decidedly
weak FEELING again prevailed. offerings
from all sources being free. Prices receded
to inside figures. ana the market, in a gen.
eral way, closed rather easy. September
pork opened Tho lover. at S1120 advanced
to $1L21b7, broke to S1l.O712, advanced to
911.20. broke to Si0.95. and closed at S11, q
loss of 271sc. Lard is $50 lower, and ribs
.271ac. saatf f'4
Estimated receipts for tomorrow are:
Wheat, $50 cars: corn, $40 cars; oats. $50
cars hogs, 14000 head. Lake freights were
steady on the basis of &c for corn to Bufa-
To- The leading futures ranged as follows: