The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-08-11
FIRM WHEAT MARKET
TIP on THE GOVERNMENT REPORT
GAVE BULLS COURAGE.
Corn and Oats Were Weaker. hut
Provisions Advanced, Pork Scor-
ing "a Gain Of 81 1-2c.

CHICAGO. Aug 10-The terrible heat. a
stringency of money and the knowledge
that a government crop report would be out
in the afternoon, all tended to restrict bust
ness of a speculative character. Wheat
and provisions were firm for the most part;
corn and oats weak. Wheat closed un-
changed since Saturday for September and
sc and &c higher for December. Corn and
oats closed &c and CSC lower respectively,
for the day. Pork is 37lsc per barrel higher
lard is up 71kc and ribs from .1oc to .12i1c.
There was a moderate trade in wheat
early, but not much doing later the range
being 9d%c. The tone at the start was
easy and the market sold off, rallied, then
again weakened, but closed a shade better
The easy tone at the opening was due to
the action of stocks in New York and the
better local, as we'll Northwestern re-
ceipts The small India shipments out in
spection and advance Of I'd in Liverpool
had something Of a steadying tendency, but
the absence of any outside trade was rather
against the price and values receded.
Northwestern receipts were about twice
those of year ago. The decrease in the
| visible was also disappointing. There
would probably have been little chance in
| the visible had not Milwaukee decreased
| owing TO an elevator becoming irregular
| Closing cables here again higher all around.
| Inc tip on the government report was CIV
| en- out late in the session and the condition
given out IS spring wheat. This
| helped to strengthen the market.
Corn trading was spasmodic, but fair
| volume of business was transacted. The
| feeling firm at the start after which
| a weak spell set in, and final figures showed
Ac loss. The prospect Of somewhat cooler
| conditions west. liberal receipts. and action
| of wheat tended to weaken the price. The
| selling came chiefly from commission
| houses and professionals, some long prop
| erty coming out, the buying being by shorts
and room traders
There weak feeling in oats and a
| decline of &c. and a tame close with prices
| 1sc above the bottom. The depression was
| with wheat and the big receipts. The latter
| Induced free local selling and the market
| had no good support September Of
| fered with the most freedom. Oats by
! sample were slow, weak and 143c lower
| for common light weight and poor gener-
| ally, and steady to Ac lower for choice old.
Offerings were larger and the quality
| showed no Improvement.
Provisions were easy and quite strong
| scarcity of offerings and that more than
any enlargement of the demand was re-
| sponsible for the increased price. Septem-
| Der pork opened at SS.2112. compared with
| $500 at the close Saturday. II advanced
| gradually but steadily. and was bringing
| $500 near the end. finally leaving off at
| s6.57ia Lard and ribs were also firm, but
| the advance In lard only amounted to from
| sc to TIC. while ribs left off 1hc higher for
September and 1oc higher for January;
Estimated receipts for to-morrow-Wheat.
| 230 cars corn. 1875 cars; oats, 6l0 cars.
| Hogs, 200 head.
| Leading futures ranged as follows: