The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-08-22
GRAIN MARKET is UP
SPECTATORS ANXIOUS TO 4 AND
III PRICE WAS STRONGLY HELD.
Appreciation of 1 lie In September
3-4c and Provisions Firm.

CHICAGO, Aug. of Trade
spectators were anxious TO buy to-day,
and as a result the grain markets finished
with gains all around. Wheat closed sc
higher. corn lac higher and oats %c high
er. Provisions closed with but little
change, after IN early advance.
Wheat was somewhat irregular, with
price changes rather frequent within Use
range. The market exhibited a fairly
steady tone. Initial prices were at lsG14c
decline. at 547sG55c for September, and
sold off at once $s912c more. advanced sc.
worked back sc. then advanced Use, held
steady, and closed with September at 55i29
555sc. The early weakness was attributed
largely to the Illinois crop report. which
made the yield Il, $4,000 bu, or the fourth
largest on record, and also to the favora-
BILE crop news from abroad. The outside
market was easier and this was also some
thing of a factor. Receipts fell off consid-
erably from the estimates, only 1863 cars
coming in, against 200 expected, and cables
were up ia all around. which, while bull
ish, was offset by the foregoing. The mar
ket sold UP rather sharply when corn
showed up. Private cables quoted a small
inquiry, but prices I'D higher. and other
cables read wheat 80 lower but inactive,
nv 90 0NNNA 49,
selling later in the day, which, together
with the closing cables showing a weaker
tone. caused prices to recede to about
inside figures. The estimates for to-mor-
row showed a still further falling off. at
365 cars. There was a rumor that the Rou-
manian government had restricted the eX-
ports of maize, owing to the shortness OF
the crop. The market closed rather strong
on the liberal export business and covering
by shorts.
corn market during the first hours Of the
session. Prices changed rapidly without
the, accompaniment of any great amount
local shorts and not enough offered to sup
ply them until they had bid the price up lc
Der above the prices current near the open
ing for those deliveries. When that de-
mand was satisfied prices began to settle
back again, and before noon they were
both down to the level of the opening
the highest point of the earlier bulge. Sep
tember was difficult to buy when wanted,
sell it. 1t sold around the opening at from
5S7sc to SAG, and from that up TO S9c;
55lsc. 1t closed at soc.
Oats experienced another day of active
trading and higher values. Corn continued
to influence prices and quite an advance
was shown. Buying was good from all
sources. September started 1c up from the
closing prices yesterday, at 3O$sc, declined
at 301sc.
Receipts of hogs were only 1900 head.
and good grades were quoted as in good
demand at a trile higher prices. That
and the strength in corn gave the provision
market it's opening direction. The fuctua-
tons in pork followed the course of the
grain markets for a while, but in the lat
ter part of the session the packers sold
freely and Independently of strong. grain
markets and steadiness in lard and ribs:
January pork opened at s13.65; compared
with sl3.6 at the close yesterday. 1t adj
vanced to sl3.6715 and then dropped gradu-
ally until at the close s13.35 was its selling
price. Lard for January closed with a
gain of .0212c and ribs are unchanged.
Freight rates firm at &c for corn to
Buffalo and &c for oats TO Port Huron.
Leading futures ranged as follows: