The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-12
CEREALS ALL HIGHER
BULLS IN CONTROL OF THE CHICAGO
GRAIN MARKETS YESTERDAY.
December Wheat Closed Mt an Adj
vance of 1 Lee. Corn Gained 1-4c to
a-sc and Oats Went Up 3-Sc.

CHICAGO, Sept 11.-Strong outside mar
kets and the government report aided
wheat to recover from the early depression
caused. by large Northwest receipts. De-
cemher closing a an advance of 1Ac Corn
was similarly aided and advanced 14Gssc
Oats closed sc higher. Provisions suffered
as usual from too much hog and closed
slightly lower
Wheat was rather nervous at the outset.
The government crop report substantially
met the expectations which had been
formed of it, but its effect had already been
largely discounted and an advance of
only &c in the opening figures was shown,
but this strength was only momentary.
Minneapolis and Duluth reported the re-
cepton of /, 143 cars, sc more than last
year. This was a sumner, and December,
which had opened at 5814G5Sssc, dropped in
a hurry to 57a4c The failure of another
New Orleans bank was not at all reassur-
ing to spectators and aided in creating the
general scramble to unload Gradually,
however, the excitement subsidized. ST.
Louis became strong when prices
here were still on the down grade. Not
only that, but the people there sent a flood
of buying orders here. The cables also
came strong and there were indications of
large clearances again from the seaboard.
The government crop report also began to
have the bulIsh influence it seemed en-
titled to- Stocks in New York were all
higher, and there were reports of larger
imports of gold and a rapidly improving
money market. Atlantic port exports, as
finally reported, comprised about 100000
pushels IN wheat and flour. This KIND OF
news could have but effect. Early
short sellers began to scramble to get back
their wheat and there was considerable
excitement for time, resulting in a re-
covery from the low point of nearly &c.
The market buoyant during the last
t0
Gus export business reported at the
board and at Duluth. December sold up to
$3.50 and closed firm at 59ss@591ac.
Corn was firm, partly because of the de-
ment report, but more on account of the
bullishness of wheat, the strength of that
market helping corn to make very sub
stantial advance considering the dullness
of trade. May opened about Ac higher, at
2fisc, declined - 237sc and reacted to 244c,
closing firm at that figure.
Good buying by shorts, light offerings, a
bulliSh government report and sympathy
with corn all combined to make the oats
market an active one with firm feeling
existing and prices higher. Besides an
urgent short demand there We're good out
side buying orders. May opened unchanged
at 1S%4c, eased off to 1S1ac, then advanced
and closed steady at 1850.
Provisions were heavy and inanimate and
everything but pork closed lower. Pack
ers were active sellers. and this, with con-
tinued heavy hog receipts, prevented any
benefit which might have been derived
from the firmness of grain. January pork
closed unchanged at $6.6212: January lard
.05c lower at 3.60c; January ribs, .O212c
lower at 332l2c.
Estimated receipts for Saturday: Wheat,
225 cars; corn, 525 cars cats, 3l5 cars; hogs,
900 head