The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-08-09
WORLDS CROP SHORT
THE NEWS WORKED BY BULLS, AND
WHEAT CLOSED WITH A GAIN.
Corn Market Broken by the Failure
of a Boston Firm-Provfsi0ns Toned
Up and Made Advances.

CHICAGO, Aug. S.-The wheat market
to-day was battered with statistics regard
ing the shortage of the worlds crop until
il was knocked clean on its feet. 1t was
revived and set up again by the taking Of
about $1,000 bu for shipment, an extraor-
binary feature of which was that 1900 blu
of the amount was for Toledo. AT the
close an early decline OF 7sc had been re-
covered from. and the price was left at
&c higher than it closed yesterday. Corn
was knocked out OF its gait by the fall
ing down of a Boston firm. which was said
to be long about 100000 bu for September,
the selling out of which for their account
caused a decline of 1lsc per bu from the
highest point. May was unaffected and
closed sc higher. Provisions were firm aft
er early weakness, the close showing ad-
vances OF .15c each in pork. lard and ribs
First trades in wheat showed 1sqhc loss,
and sold off a fraction more. rallied &c.
eased OFF 1Ac. advanced &c, changed some.
ruled steady and closed as stated. The ear
,ly showing OF weakness was due largely
to the fact that the receipts at st. Louis
showed considerable increase, and then ca
bles were Indifferent New York reported
prices something. The English visible was
reported as increased 1.4Ou.00e bu. On the
otner hand the Price Current was a lit
tie bullish in its remarks on winter
wheat, and then, too. the weather in the
Northwest was not as favorable as OIL late.
too much rain occurring In that section,
dicted. Certain professionals were in
clined to favor the long side, and their
buying aided the rally which followed after
the decline The Disappointing exports, the
but 1900 bu, of which 70,500 blu was in
flour. started the reaction, and then the
The small trade was against the price
also. Northwestern receipts were much
smaller than a year ago. Local arrivals
were about one-fourth OF those OF a year
making the English crop % per cent. below
last years yield. The official crop of In
dia was said to be %. 500, 900 bu, or about
Sl,0O0.OOO Blu less than reported one year
Corn was fairly active and rather firm
er early, but broke later, rallied some and
&c decline for October. December down 1sc
and May up isc. The early strength was
due in a measure TO the talk of cold
posed to favor the long side for a turn.
Initial trades were at hQhc decline, and
soon sold up &c, broke hc, rallied sc,
stated. The break was attributed by some
10 the selling out Of considerable long prop
erty for a Boston concern, which was said
to be in trouble. and the decline which
AAO"N0 oooht AoA eOPAOS A0SAo eAS
executing of which carried September down
to 39c. The talk Of liberal receipts was
also a factor, 4S cars being estimated for
tomorrow, with 800 cars in to-day. The
weather was good West. but cooler con-
ditions were Indicated for the Northwest.
The Price Current stated rain would soon
be needed in some sections.
Oats were quiet and steady. Fluctuations
were confined to &c, and closed without
important changes from yesterday. Shorts
were fair buyers early. and the market
followed corn to a moderate extent.
Provisions opened weak and closed firm.
making the following gains, compared with
the closing prices OF the day before: The
September delivery OF pork. 171zc higher;
lard n ribs each .l5c. Shorts were the
chief buyers. but II was claimed that a
considerable quantity Of meats had been
taken for shipment. The Price Current
makes the weeks. packing in the West
only 10000. compared with S25 900 a year
ago. Hog receipts to-day were 5000, and
1900 are estimated for tomorrow.
Freight rates were firm, with charters
for wheat to Buffalo at l1kc and corn at
1Lc