The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-09
WHEAT CLOSED HIGHER
FEATURES OF YESTERDAYS sPECU-
LATIoN At CHICAGO.
Leading Cereal Lost EARLY, but
Gained Later-Corn Declined 1-4c
ana. Oats Advanced Use.

CHICAGO. Sept S-Gcod export business
and expectations of an unfavorable crop
report helped December wheat to-day to an
early loss of sc, but it closed shade high
er. Corn was not so buoyant and declined
&c for May Oats advanced 16c and pro-
visions closed unchanged to DC higher.
The bears in wheat had enough encour-
agement at the opening to make their
hearts glad. The worlds shipments to Eu-
rope last week were 7,5140 600 bu, including
100000 blu from this side. The amount on
ocean passage increased 24S000 blu last
week; the receipts at Minneapolis and Du-
luth since Saturday numbers 2,512 cars,
compared with 3,115 cars the correspond
ing time a year ago. Chicago received 4e2
cars, compared with 247 on the similar days
of the previous year. The political situa-
ton had likewise little effect in increasing
the weakness at the opening, which was
represented by a decline from size for De-
cember wheat at the start to 571sG5714c in
the course of the next half hour and COM
pared with Saturdays closing value of
577sG5Sc. The visible supply statement did
not show quite as large increase as had
been looked for, the addition for the week
being given as 921, 900 bu, against from 1,o0O.-
600 to 1,5O00O blu expected, and COMPARED
with increase of 1880 on the CORE
spending week Of last year. The fact that
cables kept strong notwithstanding the
speculative weakness here was looked upon
as a favorable factor and there was some
Encouragement derived from the export
business, which up to noon was placed at
100000 blu, although all of it could not be
confirmed. The clearances of wheat and
were equal to $4,000 blu, 1923, 600 of which
was in the shape of wheat. These items
were considered favorable by the bull con-
tingent and by u o'clock an advance to
573sc had taken place. There was consid-
erabe strength developed during the last
hour on pointer sent from New York
that the government report Thursday would
estimate only 1896, 600 bu of wheat. Early
to 5Sc, a shade higher than it closed Satur-
day. That the closing figure.
Low as corn prices were before, they de-
clined still more to-day. The continued
depression among holders, and, though the
market recovered little before the close,
it at no time showed real strength. May
opened 1sc lower at 24c, declined to 23a4 C
and closed easy at 231sc.
Oats were dull and rather easy most of
the session, prices being kept weak by the
decentralization of the low grades in the
sample market. The upward tendency of
We're somewhat higher at the close. May
opened 1sc lower at 1S1sc, and advanced to
1SasM1S1ac, where it closed
Provisions were dull during the greater
tone. Prices at the yards We're higher and
higher, an encouraging factor, and, under
good buying by packers, the market devel-
oped positive frmnesS. Price changes We're
slight, but for the better January pork
closed sc higher, at $3.50; January lard
.0212c higher, at 3.571a03.60c; January ribs
unchanged. at 3.30c
Estimated receipts Wednesday: Wheat.
$50 cars; corn, 905 cars; oats, $40 cars; hogs,
80. 600 head.
Leading futures ranged as follows: