The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-07-11
GRAIN WAS EXCITED
DEMAND FOR WHEAT AT MUCH
HIGHER THAN TUESDAYS CLOSING.
Several Firms Disposed of stock
Which They Could No Longer Car
ry-Proyfsions Made Gains.

CHICAGO, July 10. - Wheat and corn
opened in an excited manner to-day. and at
much higher prices than they closed at yes
terday. Corn did not close quite so strong.
but had still &c of the days gain adhering
TO ii when the session ended. Wheat is enc
higher than yesterday. 3 Oats are up 1c for
September delivery, and, even. pork rose a
triie out of fellow-feeling for its specu-
lative sisters.
Wheat got it's boost chiefly from the
crop-damage reports from the Northwest,
and the other markets willingly followed
wheat's lead. Nearly everyone in the wheat
pit at the opening this morning wanted
some Of the article on the basis of from
1isc to 2hc more than they were willing to
pay for ii as the session was coming TO a
close yesterday, and only a few OF them
could get any. Yesterdays trade had ap-
parently drained the crowd Of long wheat,
and not until 2Ac advance over yesterdays
closing quotation was bid did enough come
out to satisfy the tremendous demand that
had grown up in the night In addition to
the recovery from the nervous condition
into which the traders had worked them
selves, the news from the spring-wheat re-
gion told of damage by both heat and frost.
Well-authenticated reports were received by
several commission houses of heavy frosts
in several sections Of the sp~ring-wheat
country yesterday, and also from corre-
spondents in the Southwest, complaining of
damage to wheat In the shock from the fire.
quent rains. The receipts here and in the
Northwest were light. The exports Of wheat
and flour from the four principal Atlantic
ports amounted to 1885, 900 bu. Liverpool was
quoted weak and 11sd per GENITAL lower for
futures at the opening, but only I'D lower
for spot wheat. 1t closed firm, at I'D recov-
slightly lower for flour and 10, centimes
higher for wheat. There were numerous
orders cabled here for both wheat and corn
on the basis of yesterdays closing prices,
which could not be executed on account Of
the advance. What the government might
say regarding the status OF crops on July 1
the afternoon. and, although they bid up
we'll for wheat, the market was not very
active. The opening OF September was at
from 6S&c to 6i&c. with very little to be had
as 652sc before the demand slackened, and
then dropped back TO SAC on the closing
nounced themselves as unable to protect
them. The new from the Northwest was
generally c~onfirmatory of the damage which
1t was feared had been done by both heat
and frost to spring wheat, and the dis
patches were So numerous and from so
many different sources that the trade could
iVt OtA4CtC tllClC was odbo
for them. The price touched 62sc for a mo-
ment. and was being traded in at $40
6512c as the session ended.
Corn opened excitedly strong and with
sales at the first rush covering a range of
from 4c to 45c for September and from Csc
to 3712c for May. The two extremes of the
days range were made at the moment re-
ferred to. September did not again sell as
high as 45c nor as low as 43c, but IL declined
to 1850 in a very gradual and irregular
manner, and that was its value at the close,
and May left off at 36i4c. The stronger feel
ing was due to the apprehensions of posi-
BILE damage from frost on Northern edges
before. The receipts were 127 cars by rail
and p, 800 by canal. The Liverpool market
was quoted from I'd to I'D higher, and
numerous orders were received from there,
which. however, the advance prevented be-.
ing filled.
beginning to end. The great firmness in
the other markets, was also to be found in
oats, only not TO such an extent. Shorts
were taking in freely to-day, consuming
stuff offered by the crowd. Cudahy was
again the principal buyer. September start.
ed at from 22Ac to 23Bc,. sold at 22Nc, ad.
vanced to 22Ac and rested at 23sc.
The provision market was firm at the
opening and made an advance of about 1OC
in pork at that time. Subsequently a de.
cline or 25c and recovery of the same
amount left the price loo higher at the close
Lard was inactive and weak, and closed .1OC
lower for the day. Ribs also acted heavy
pork market was influenced to some extent
by the strength of the wheat market. Hos
receipts were 1900.
Estimates for Thursday-Wheat. SO cars
corn, 10 cars; oats, ITO cars; hogs, 800
head.
Taodino fr+,ros ,.~o