The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-08-04
GRAIN WENT DOWN
WHEAT RECOVERED PART OF IT'S
LOSS AND CLOSED ABOUT STEADY.
Chicago Oats Sold eat the Lowest Fig
ure Eyer known for This Time
of the transformations.

CHICAGO. Aug 3-Wheat at one time
to-day had lost 1c per blu of its previous
closing price but recovered lac of that.
1t tried to get down to an export basis,
and did, 10000 bu being reported taken here
to-day for foreign account and shipment.
Corn and oats had further heavy shavlngs
planned off their already thin values, and
at the close, compared with yesterdays
final quotations. corn was 1c per bu lower
and oats PC lower. Provisions had to de-
pend on shorts TO do the buying, which
caused prices to rally near the close to
about the level of yesterdays resting rates.
Wheat was weak at the opening and then
became suddenly stronger for a few min
utes. The first trades were at from 6s3tc
to 6SAc for September, and inside of fif-
teen minutes had risen to 694c. At that
point the offering and sale of about 100000
bu by a prominent operator appeared to
alarm the operators. The price broke again
in few minutes, and after effort to hold
about the level of the opening price to
which ii had returned, the holders sought
further relief and made another general
rush to throw overheard greater load of
their holdings. Before IL o'clock September
wheat had declined to size, or little more
than 1c below the close Of yesterday. OF
fresh news to account for the days addi-
tional weakness, there was none. The Eng
lish markets were closed, being a bank hol-
iday in England, ana there was nothing
fresh in the domestic situation. The Euro
pean continental markets, however, were
reported to be firm and higher. supposed to
be because of wet weather. the European
winter wheat harvest being in
full blast and the appliances for
RI ino Of he
being much inferior to those in use here.
Chicago receipts were 70 cars. of which II
were new red. and only of the latter were
contract quality. Minneapolis and Duluth
received IS cars, against 16S a year ago. The
total received at the primary Western mar
a 1sts o We're ns, &c., go bushels compared with
the previous year. The weeks clearances
of wheat at and from both coasts,
amounted to 100000 bushels, against 1,265, /.
GOO bushels on the week previous. The days
exports were equal TO about 115000 bushels
The Paris market came unchanged for
wheat, but 70 centimeS higher for -four.
Berlin quoted an advance of Ia marks. Ar
gentine wheat shipments for the week were
$4,000 bushels, so that the competition of
that country may be considered over for
the season. Russian shipments should also
be reduced temporarily, at least, and with
these reductions the European importers
Will have to draw from this side. They made
a start to-day in that direction. Hotchkiss
sold 10000 bushels for export. Baltimore
wired early in the day $1,000 bushels of
wheat sold for export. and working on So.
coo more. The visible which increased 2.O0O,-
600 bushels last year, Is expected to show
a decrease of from 10000 to 100000 bushels
on Monday. After striking 6711c, September
wheat reacted TO Csc and closed at 677s
Q6Sc.
The corn market was weaker again to-
day, and very decidedly so. September
opened at 42c, improved to 42ssc, dropped to
4l$4c, and closed at 419sQHAc. May from
35c declined to Base, and closed with sellers
at 34$4c. 1t was a mere continuation of the
ceipts were 400 cars. New York reported
forty boatloads taken there for export,
Freight room for go 900 bushels was taken
here. Argentine shipments for the week
were reported at 1,125. 600 bushels
Oats sold to-day at the lowest point ever
reached in Chicago at this season of the
year, and under any price that has ever
been in New York at any time. Cudahy
bought quite great deal OF September and
sold May at difference of 31kc. Advices
an enormous crop, and with the fine.' clear
weather now prevailing 1t would not be
surprising to cut another almost equally
as large. September offered at 2112c, sold
up to 2124c, with the corn market declined
to 21c, and closed at HAc.
The provision market was affected by the
small run of hogs to start with, then by
the weakness of corn, and later by covering
of shorts. Owing to the last-named cause,
pork recovered 121ac Of 15c decline, and
est price they reached early in the session.
The hog receipts to-day were only 1900
head, and for the week $500, against 1872
rs on the corresponding week of the year
before. The next week run Of 1900 head
is expected.
Estimated receipts for Monday: Wheat
loo cars; corn, SOS cars; oats. 255 cars; hogs,
1900 head.