The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-10
ALL MARKETS HIGHER
BOTH CEREALS AND PROVISIONS
STRONGER AT CHICAGO.
Expectations of BulIish Govern
ment Crop Report Caused Covering
Prices Up SIG to 1-2 Cent.

CHICAGO Sept All grain and provi-
sion markets opened firm to-day and gained
strength as the session advanced. Expec-
tations of a bullish government crop re-
port caused enough covering to advance
December wheat 12c. Corn closed 3-16c
higher for September, but unchanged for
later months Oats advanced about sc
and provisions 7I2Q12c.
Wheat opened firm to-day although the
immediate opening figures were a shade
under Yesterdays final quotations. Initial
sales of December were made at 577sM5Sc,
yesterdays closing price being 5Sc. This
was somewhat of disagreeable shock to
many of the traders who have persist
entity played the bear side, relying the
uncertain political situation and the heavy
Northwest receipts to help them to pros
perity. In this latter expectation they were
not disappointed to-day. Nine hundred and
twenty carloads were reported from Mime
apoiis and Duluth. against 1908 carloads on
the corresponding day of the year before.
Perhaps the main reason for the firmness
was the strength OF the New York stock
market The absence of any general de-
mand from abroad early in the day, how
ever, coupled with New Orleans bank
failure brought free realizing and de-
cline in prices The total of the wheat and
amounted to 121 900 bushels. The Michigan
State crop report confirmed the previous
eStima ties of the shortage or the crop. The
final strength, which closed the market at
call price was caused by general covering
by shorts who feared that the government
figures tomorrow would bull prices. New
York reported that fifteen boatloads had
been placed for export, principally from
out ports, and including three boatloadS
at Duluth. December sold from 571sc,
where it had dropped to- $3.50, and retained
it's strength to the END. closing firm at
5S1ac.
Corn was steady at a shade under yeSter
days closing price during greater part of
the session, but a trifie firmer near the end,
in sympathy with wheat. Moderate eSti-
mates for tomorrow and free buying by
foreign and domestic consumers We're also
sustaining influences. May opened
changed al 237c, fiuctuated between 23S4c
and 24c, closing steady at the opening price.
September did better. closing 3-16c higher.
Oats started easy but quickly firmed up
and closed firm and higher. The market
in the main was Influenced by corn, though
some independence developed on eXpecta
lions of bullish government report. Quite
a fair business was transacted. May opened
a shade lower. at 1880, and advanced to
1S$4c. where il closed.
Provisions have evidently reached a
point where short sellers are averse to do
ing business in their line Trading was
very moderate. but the disposition of the
crowd was to buy. and, consequently.
firm undertone was observable. The market
was at it's best near the end of the session,
day. January prok closed 12lac higher, at
S6.7212; January lard .071ac higher. at 3.65c;
January ribs. 0712c higher, at 3.5715c
EStima ted receipts Thursday-Wheat 200
cars; corn, 500 cars; oats. 200 cars; hogs,
p, 900 head.
6i,1cy f11f, folJo