The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-06
LOW RECORDS IN GRAIN
BOTH CORN AND OATS QUOTED AT
UNPRECEDENTED FIGURES.
Wheat Started Firm at Small AG-
vance and Wound Up with 3-Sc
Decline-Pork Dropped 10c.

CHICAGO, Sept. 5--Corn and oats both
went through the accustomed performance
of making new low records to-day, closing
about Nc lower each. Wheat suffered from
apprehension of heavy Northwest receipts
and closed CSC lower Provisions declined
5Gt10c.
Wheat at the opening gave performance
that has become stale from frequent repe-
tition. 1t made false start at about &c
advance and had to Immediately return
and commence over again December,
which closed Yesterday at 5S4@5S3sc, com
menced this morning at 5S1ac. In about
ten minutes it was down around 5SAc with
occasionally few sales at Lice below that
and in the close neighborhood of these
prices it remained for a time. The i'm
mediate cause of the opening rise the
comparatively cheerful tone of the financial
columns of the morning papers and the
publication of the heavy quantity of
3,3S9,362 bu the flour and wheat exports
of the week. compared with 2,260000 bu on
the similar week of the year before. Gables.
as frequently the case recently did not
respond to the decline here yesterday and
this was an additional source of strength.
The weakness which so quickly succeeded
the opening advance was ostensibly the
suit of the carload receipts at Minneapolis
and Duluth, being reported as numbering
LIZ cars, against ,159 cars last year. The
effect of this dissipated. however, when
1T was learned that the receipts at Mime
apolis were the accumulation of two days,
but it had the effect of calling attention
to what may be expected from
that source. An accumulation of
over 100000 blu for the week
expected as the result of the movement
with that much more to be carried in the
visible supply on a stringent money mar
ket, was without doubt the chief reason for
the decline. The Chicago receipts were PCS
cars, only ten of which We're of contract
quality. The days cearances from At
1antic ports were liberal, and New York
reported good inquiry there for export,
but nothing could revive the low spirit of
the market. which had been so promptly
sat on at the opening. Lower continental
cables intensified the weakness and gen-
eral selling out of purchases made around
5SAc carried the price down to 577s@5Sc at
the close.
Corn was still weaker than it had been
and reached an even lower depth. Septem-
Der declined to the unprecedentedly low
price of 1890 per blu. May opened shade
higher, at 24ss@2412c, but soon turned weak
and declined to 241sc, the closing price.
The weakness of wheat and the fact that
corn is now practically out of danger from
frost were the ruling influences.
Oats were slow and weak, prices reaching
The weakness in wheat and corn and the
dizziness in speculation were against the
price. May opened unchanged at 1880 and
declined to 18AmlSac, where it closed. Pro-
visions virtually repeated the performance
of the day before. Trade was light and
when buyers appeared the packers mad all
kinds for sale Tor January delivery. Janu-
airy pork declined from $3.50 at the start
TO $3.50, closing at the latter; January lard
from 3.G212c dropped to 35712c and closed at
that: January ribs fell from 3.3212c to 330c.
Estimated receipts for Monday-Wheat,
So 600 head. There will be markets Mon
day, ii being legal holiday.
Leading futures ranged as follows: