The Indianapolis journal., 1894-08-16
WHEAT AND CORN OFF
AFTER STRONG OPENING BOTH
CEREALS WE'RE BEATEN DOWN.
Liberal Selling on the Early Advance
Largely Responsible for the
slump in Chicago Markets.

CHICAGO, Aug 15.-The grain markets
were strong at the start and weak at the
finish to-day. Bearish news was in the
majority in wheat and free realizing
affected corn. September wheat closed sc
lower at 552sc. and September corn lkc
lower at 561sc. September oats finished
quieter and higher and provisions closed
at decline.
Wheat was moderately active. The feel
ing was rather mixed ruling strong early
and weaker later. the close being easy.
First trades were at 13d24c advance. but
gradually worked down %G1c, rallied sc,
changed some and closed as stated The
trades bought freely at the start on the
theory that corn was going TO advance
sharply, though the higher cables and
opening at New York helped to strengthen
the situation. The weather in New Eng
land was reported unsettled and this was
minor factor. AT the advance there was
free realizing, several of the large COM
mission houses selling literally, which
caused a weak feeling to set in and in
absence of any outside support the price
steadily declined. The large arrivals at
primary markets, light clearances and
falling off in the export business in the
East were influences which aided the
action. The trade was evidently over
bought at the start and on the first show
of weakness holders FASTENED to sell out,
which created a sharp break. The export
clearanceS of wheat and f1our aggregated
3lS,0oo bushels, of which only 5000 bushels
was In flour. New York reported twenty
five boatloads taken for export, and there
was quite little demand for cash wheat
here.
Corn continued to rule active, nervous
and unsettled, being subject to frequent
ups and downs A good trade was wit
aud 1n1sx nlArat
the whole easier. There was not a great
deal of corn for sale at the start while
quite an urgent demand prevailed and was
some time before the call was satisfied
when offerings increased and prices sagged
back but again rallied. The country
bought tS a moderate extent to-day, the
selling as usual coming from local pro-
fessionals and longs who purchased earlier
in the week and to-day took their profits.
various weekly crop bulletins which were
generally much worse than the trade had
ceded that the rains had come too late in
many places to do much, If any, good to
corn. The Washington forecast for the
next thirty-six hours indicated clear and
fair conditions through the West. The
West bought considerable during the first
sonr ana eieTator peoe fiv SOLD
with an advance of s4dlc and sold off
slightly. advanced &c, declined sG%c.
changed some and closed as mentioned
Oats advanced early on the strength in
corn, reacting later, but closing firm. The
market active. with range for Sep
tember of Sc.
Provisions were fairly active. advancing
eay With and better ad prices and for
declined. Compared with last night, Sep
tember pork is 17I2c lower; September lard
;O21zc higher and September ribs .O212c
lower
Freights-Corn to Buffalo, 1c. and corn
and oats to Port Huron, &c.
ReceiptS-Wheat. $4,000 bu; corn 1l30O
bu; oats, 341 900 bu; fax $1,000 bu. Ship
ments-Wheat, 70,C00 bu; corn, 5000 bu;
| oats, 242 coo bu: hogs. $1,000 head.
Estimated receipts for Thursday: Wheat
| 666 cars; corn. 152 cars; oats 252 cars hogs
| 10000 head. Leading futures ranged as