The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-23
WHEAT FUTURES HIGHER
ABNORMAL STRENGTH IN THE
NORTHWEST FELT AT CHICAGO.
Unchanged, While Provisions Com
tinued to Advance.

CHICAGO. Sept. 22.-The same influences
that controlled the local wheat market yes
terday, the abnormal strength of the
Northwest markets, We're mainly response
bic for q. CSC advance in the price of De-
cember wheat here to-day. Corn closed
unchanged, cats &c lower and provisions
unchanged.
The bulls We're the masters of the wheat
market at the start to-day. The Liverpool
wheat market was so strong that bear SEN
timents shriveled UP here like paper in q
fire, and everybody wanted wheat at the
opening. Liverpool 1@114d higher, all
the more surprising because of the decline
there yesterday. In addition to this, do
mestic markets we're all on the upgrade
and there continued excitement and
strength in the Northwest, especially at
Minneapolis. The Duluth and Minneapolis
receipts were 903 cars or 575 cars less than
week ago and 600 cars less than year
ago. With such encouragement it not
surprising that December wheat opened at
from 623sc to 62Bc, compared with 621kGD
62Ac at the close of yesterday. Duluth
reported active shipments from there-over
100000 bu yesterday and 600 the day be-
FORE or nearly l,2o0, 000 blu during the past
two days. There was no increase of spec
ulative orders TO speak of from outside.
The second cablegram brought news of
easier feeling abroad and the Atlantic port
wthstanoing all, the market became
stronger the forenoon waned, and by
IL: 15 o'clock December wheat bring
ing 63Ssc. Previous to that it had risen
from the opening prices quoted above to
621sc and reacted temporarily 10 6212@629sc.
This decline had been brought about by the
realizing sales of bulls, to whom the adj
vance was too tempting to be resisted But
the prices were not destined to remain
this nigh figure. About noon the enormous
increase in the worlds available stocks, re-
ported by BradStreetS, amounting to Gill,
600 blu, broke the market sharply, and De-
cember, which was then selling at 631sc,
quickly broke to 6212c. Ii, also took consid-
cradle of the life out of the trading, and
after several small fluctuations, December
finally closed steady, at 621ac bid.
Corn was fairly active and a shade high
err influenced by the nervous strength in
wheat. There was some disposition to
cover shorts, in view of the sharp upturn
fered somewhat in the last hour in conse-
quence of the break in wheat, and the close
was at practically unchanged figures. May
opened 1sc higher, at 243sc, advanced to
251sQ254c and closed steady at 242ld247sc.
Oats were only fairly active and inclined
have accrued on the strength of heat be-
ing neutralized on short selling. May
opened shade higher, at 1sAa195sc and
declined to 191sc, where 1t closed
Provisions were firm, but inactive. Prices
ruled higher most of the day, encouraged
by light hog receipts and the firm wheat
market Packers, however, Were inclined
to SELL and part of the advance was lost.
January pork closed steady ana I'M
changed, at $7.05; January lard about .0712c
higher, at 3.95M39112c; january ibis uli-
changed. at 3.50c.
Estimated receipts for to-morrow--Wheat,
200 cars; corn, $40 cars; oats, go cars; hogs,
60 900 head.