The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-08-30
BIG RECEIPTS DID IT
WHEAT MARKET WEAKER AT CHI
CAGO AND Ii GRAIN LOWER.
from the Observation-Disclosures
Practically Unchanged.

CHICAGO, Aug. g.-Heavy receipts. pres
ent and anticipated, weakened the wheat
market to-day. and December finished with
a loss of 3sc. Corn closed Ac lower for
May and September. Oats are CSC lower.
Provisions closed with but little change.
In wheat there was only a moderate
speculative trade. The price kept within
2sc range with the trade practically all To-
cal. TIL feeling was again weaker and still
lower Initial trades were at A6%c loss,
December opening at 5612c and sold off A@
CSC more, rallied hc, became dull, changed
some and closed with December at 56l2c.
The weakness was due to the movement in
the Northwest, the lower cables and heavy
receipts at primary markets. all of which
combined TO make the situation weak from
the start. The price later on had a slight
rally, influenced some by the upturn in corn
and reported heavy exports. which were
afterward found TO be an error. There was
a good deal of changing of September to
December at 314c and 31sa3Ac difference.
and a prominent local elevator concern was
credited with doing the reverse. Receipts
in the Northwest, while not so large as
yesterday. were quite heavy, and the total
for Duluth, Minneapolis and Chicago
SnOWtu III llCTcdSe VI SS CdIS over lHc
corresponding date one year ago. First ca
bles quoted spot and futures dull and I'M
changed and closing advices reported Liver
pool futures down AG12d. Berlin was I'M
changed and Paris wheat ssg1$sc per blu
lower; flour from 10 confines higher to 80
centimes over. Receipts at Duluth were
44 cars, and at Minneapolis 261 cars; a to-
tai Of 735. against S4 yesterday, and
against the corresponding date a year ago,
164 cars: Receipts at Western points ag-
gregated 1885. 235 blu and al Eastern points
569,046 bu. Shipments at Western points
were 293. 649 bu and from Eastern points
us, S04 blu.
In corn there was a fair trade and prices
changed frequently within 14G%c range.
The feeling was rather mixed, the price
selling off early, and rallied later. There
was quite free selling from the start, and
prices sagge back. being a continuation
of yesterdays decline. The rally which
followed was attributed to the prediction
by the local weather bureau of frostS to-
night in Wisconsin and Minnesota. A fea-
ture was the liberal offerings within a frac-
ton of SIC for May, but at that price a
good demand prevailed and checked any
further decline. One concern was credited
with selling 1000 bu May during the early
part of the session. Outside markets were
all easier and cables came in lower. The
market opened with A@2sc decline at 52Ac
for May, and soon sold off AG%c more,
rallied &c. eased off Ac. advanced 12dAc,
declined 1sqAc. changed some, ruled steady
and closed at $3.50 for May.
Oats were active and fairly steady on
good buying. There was free selling by the
elevator people, but the demand was fair.
The range for September was CSC.
Provisions were generally firm on small
hog receipts, firmer outside markets, good
buying and rather scarce offerings. The
market weakened moderately near the close
on a decline in live hogs. Compared with
last night, January pork and ribs are un-
changed and lard is .0212c higher.
Freights-Railroads are said to be maxi
ing a 25-cent rate on provisions TO the sea-
board, a cut of 5 cents from the tariff. Lake
rates were firm. Small lots of wheat paid
11ac to Buffalo. Charters for corn were at
1hc and oats at 11sc. a cargo of oats to
Port Huron paid 1c.
Receipts-Wheat, $4,000 bu; corn, 253, 600
bu; oats, 500, 200 bu. Shipments Wheat.
$4,000 blu; corn, $4,000 bu; oats, $4,000 bu.
Estimates for Thursday-Wheat, 800 cars:
corn, 300 cars; oats, 300 cars; hogs, %, 900
head.
Leading futures RANGED as follows.