The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-08-01
WHEAT 11-2C LOWER
LACK OF EXPORT DEMAND CAUSED
WEAKNESS IN CEREALS.
Both Corn and Oats Markets Declined
with wheat, and Provisions Fell
on on Cheap Hogs.

CHICAGO July 31--Principally because of
the lack of export demand. wheat was de-
cidedly weak to-day. closing at llzc decline
for September. September corn lost sc;
May closed nc lower, and provisions fin
ished at declines.
In an hour from the opening September
wheat, which closed yesterday worth 1lsc.
had declined to 69ssc. being a drop of 1szc
per bushel in that short time. The foreign
markets, with the exception of Berlin, were
fairly steady at the opening, and the do
mestic situation was no less bull:sh than
before as regards the small deliveries of
winter wheat from farmers and the poor
quality OF the little they were selling. Trad
ing was similar in its local character to
that of the previous days. The bulls who
sold out on the last bulge took some wheat
on the early decline, and sold il out again
when they found their action was not well
seconded. From 693sc September recovered
to acc, and after fuctuating for over an hour
between that and 69a4c. it took another dip
TO 6Sl2c, when Bradstreets statement or
the visible supply was given at decrease
for the world of 2.425,000 bu. A year ago the
stocks in similar positions increased 1900, OOO
bu. The following exhibit of the wheat
movement Tor twenty-Iour hours suggests
no explanation OF the weakness or the mar
ket except as to such part or ii as relates
10 the exports. These were again small, and
tnat feature having existed Tor some time,
is wearing itself into recognition, and was
probably at the bottom or the whole trouble.
Chicago receipts were rs cars. u of when
were new req, and Of these only two were
up TO the standard Of the contract grade.
"A year ago Chicago received go carloads,
OF which 0SS were contract. The total re-
ceipts at Western, primary markets amount
ed to $4,000 blu, against 1.z25000 bu on the
corresponding day of last year. Mlnneapo-
lis and Duluth received 19i carloads, COM
pared with PA in the previous year. At
lantic port exports comprised 60,961 bu of
wheat and 7.9OS brls Of hour. The market
ruled very weak and without support from
the heavier class of the bull operators, the
price in the afternoon went a shade lower
than the lowest point reached in the early
break. Fa
The corn market was dull in its soecu-
lative feature, and futures were a shade
lower. The promise for the next corn crop
was in no degree impaired, The compare
tive steadiness of the market arose from
the good demand for cash corn. Carloads
brought 1ec over September for No. 2 to go
to store and &c premium was paid for round
lots for shipment. Receipts to-day were I'll
cars. September opened at from 43c to 427sc.
sellers, and sold at 424c in the first minute
of the session. 1t was kept between 427sc
and 43c sellers, during greater part of
the day, touching 1850 for a moment under
the influence of weak spell In wheat 1t
was fairly firm near the end at 42ssQ4224c,
ana cioseu at that. May soiu AZ from So7sc
to 351gQ355sc, and closed at 3ossQS5iac.
Oats opened fairly active at a slight de-
cline in prices. There was no independence
to the market. and fluctuations were ruled
entirely by wheat and corn. The range was
narrow. July sold from 22tsc to 22Ssc, and
closed &c lower at the latter price. May
ranged from 25%Q25%c TO 25l2c. and closed
at the latter price.
The bulls in provisions appeared to have
thrown Up the sponge. The hog receipts are
as light as expected. but the price is not
governed at present by the comparatively
light supply IF the raw ma terial, but by the
light demand for the manufactured article,
OF which the stocks are ample. The re-
ceipts of hogs to-day were 1900 Business
was not brisk. but enough was offered on a
market devoid of buying spirit to knock 40c
per brl off the price of pork, 10c per 100
lbs off lard and zoe off ribs.
Estimates for Thursday--Wheat, 70 cars;
oats, 30 cars; corn, 3S5 cars; hogs, 1900
head.
Loading futures ranged as follows.