The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-07-30
ACTIVE WHEAT TRADES
CAUsED AN ADVANCE AT CHICAGO
OF LIE IN SEPTEMBER FUTURES.
Better Prices In Corn, and Pork
Iimb Up 10 Cents.

CHICAGO, July 2s.-Crop failures in Rus
STA, damage 10 harvested wheat in Ohio.
Indiana and Michigan. caused that cereal
to advance 1l5c on active speculative bust
ness for the September option to-day. Corn
recovered nc per bushel on covering by
shorts. Oats were strong because of the
bad reports concerning the crop. Pro-
visions rose alphabetically with grain.
There was a good trade and fairly active
market in wheat, prices changing quite
frequently within 11ac range. The feel
ing displayed was somewhat stronger and
slightly higher prices ruled, the close show
ing a gain of 1AG1ssc. The early strength
apparently came from the foreign situa-
ton. Liverpool cables showing no change in
prices, which in face of the break here
yesterday was taken as an indication of
firmness and was said to be due to bad
weather on the other side. London adj
vices reported the crop in southern Russia
damaged and though reports of this char
acter were in circulation two days ago,
it added something to the price to-day.
The falling off in the local movement and
reports of light acceptances to last nights
bids by the country was also something
of a strengthening influence. Damage
claims TO wheat in shock were numerous
and was something of a factor. The mar
ket during the early part of the day acted
as If a little oversold yesterday and many
of the recent sellers were fairly active
buyers. Weather in England was reported
unsettled. The map on this side showed
favorable conditions. Second cables came
a. little easier. and caused a moderate de-
cline, and was helped along by professional
selling. BradStreetS report showed a de-
crease last week in the worlds available
supply OF 74O, 900 bushels, the decrease for
the, same period last year being $4,000
bushels. Paris quoted wheat BQ29 centines
off. Berlin was 1l5d1s4 marks lower and
Antwerp was unchanged.
There was a good trade in corn. the bulk
Of which took place during the first two
hours of the session, and the feeling de-
veioped was somewhat hrmsr. there RE being eng
continual decline, and final figures
showed ssQ1ac advance. There was
free and active buying by sew
have sold literally of late and the same
was supplied by the elevator and receiving
interests.
with an advance of 12Q9sc, which was main
tanned at the close. Opening prices were
the lowest and there were few reactions on
firmation Of the crop damage by the
weather bulletin. the damage in Iowa be-
ing especially significant. Parties In the
interior who nave made sales to arrive
nave been unable to get the oats owing
to the crop damage and the rains retard-
ing the threshing and have Cancelled their
contracts. This necessitated free buying in
Of September by commission houses. There
was also buying by local shorts and no
pressure to sell. The advance in wheat
and small receipts also assisted In making
a stronger market.
Provisions were fairly steady during the
forenoon and advanced near the end of the
session. September pork opened at S6.Oo,
declined to S6.02}2, worked gradually up TO
$50, and near the close had a rapid bulge
to $500. with $3.50 the final price. Thai
shows an advance for the day of loc and
January pork advanced nee. Similarly
September lard gained .07c, while January
advanced only .0215c and September ribs
rose .07iac, while January was advanced
Csc.
Estimated receipts for to-morrow-Wheat,
40 cars; corn, $50 cars; oats, 12O cars; hogs,
5000 head.