The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-17
WHEAT SCARED UPWARD
CLOSED AT AN ADVANCE OF 3-4C TO
7-sC AT CHICAGO YESTERDAY.
Principal Factor in Strengthen
~ ing the Market.

! CHICAGO Sept. 16.-Wheat was the star
! performer among the speculative markets
| to-day. After an early decline of &c it
/ turned strong and closed at an advance of
/ a4@7sc. Strong outside markets and liberal
| seaboard engagements were the principal
! factors in the strength. Corn. oats and
provisions were all favorably affected.
Corn closed 1sc higher, oats AGAc ana pro-
visions 212G71ac higher.
Wheat started easy and dull at shade
under yesterdays closing price. 1t pre-
served it's opening characteristics for about
forty-five minutes and then ST. Louis be-
gan to rush in some buying orders which
started the crowd, who meantime had
spread themselves rather thinly on the
short side December wheat opened with
sellers at from 591ac to $3.50, against yes
terdays closing price of 5912c. and touched
59AM593sc before it entered its protest
against a further decline. Then ST. Louis
wired that she had sold 100000 bushels of
hard winter wheat for export during the
last two days and that there were foreign
orders there for red winter which could
not be filed owing to the light stocks.
This started shorts on the run. They seized
hold of the offerings and had to stretch
to Coo per bushel for them before they
could steady themselves. Northwest and
local receipts were again conspicuously
heavy to-day and were the cause of the
early weakness. But the shake-up given
by st. Louis turned the eyes of the traders
to the other and more bullish features of
the situation. New York wired early in the
day of ocean freight room for eighteen
boatloadS having been taken to the United
Kingdom. Liverpool quoted from Ad to
12d higher prices Notwithstanding yester-
days &c decline on this side, but CONT
mental markets were lower. The clear
ances from Atlantic ports. including wheat
and flour, amounted to BIS. 900 bushels. The
receipts at Minnea polls and Duluth were
932 cars compared with 1,092 a year ago.
Chicago received 296 carloads, only four of
which We're contract. Bradstreets worlds
visible statement showed a net increase
for the week of 2722, 900 bushels. The mar
ket ruled strong after the first forty min
utes of the session, December rising to
G0$s06012c, with very little reaction on the
rise and no general realizing observable to
the close. Latest trading was at 6O14q6O2sc.
Corn did not share to more than a very
slight extent in the activity and strength
of wheat. Offerings from the country were
heavier, more especially from Illinois
able for in the fields. Early transact
lions We're at a slight Decline but the i'm
proved tone in wheat started shorts to COW
ering to some extent May opened 1ac low
er, at 24Ac, and gradually advanced to 241h
Q249sc, where it closed.
Oats We're frmer, mainly through SYM
pathy with wheat and corn. The volume
OF business was only fair and pretty gen.
at 1Ss4c, sold to 19c and closed steady at
1S7s019c
Provisions enjoyed only a fair volume of
business Prices, however. were firm and
ruled slightly higher throughout the ses-
sion. sympathy with grain, coupled with
lighter hog receipts, created a better feel
the opening, advanced slightly. January
pork closed TIC higher. at Sc. 771s January
O2,sc higher, at S.s5as. Sic. '''"'S iios
Estimated receipts Thursday: Wheat
y 25 cars corn, AIS cars; oats, 2l0 cars; hogs
Leading futures ranged as follows.