The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-07
LOW RECORDS IN GRAIN
BOTH CORN AND OATS QUOTED At
UNPRECEDENTED FIGURES.
Wheat Started Firm at a Small Adj
vance and Wound Up with 3-Sc
Decline-Pork Dropped Zoe.

| CHICAGO, Sept. 5-Corn and oats both
went through the accustomed performance
| of making new low records to-day, closing
about &c lower each. Wheat suffered from
apprehension of heavy Northwest receipts
and closed sc lower. Provisions declined
5010c
Wheat at the opening gave performance
that has become stale from frequent repe-
tition. 1t made false start at about 14c
advance and had to Immediately return
and commence over again. December,
which closed yesterday at 5S14 qoS$sc, COM
menced this morning a 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 time. The i'm
mediate cause of the opening rise was the
comparatively cheerful tone of the financial
columns of the morning papers and the
publication of the heavy quantity of
1888, 1862 bu as the flour and wheat exports
of the week, compared with 2,26O,0 900 blu 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 additional source of strength.
The weakness which SO quickly succeeded
the opening advance was ostensibly the re-
suit of the carload receipts at Minneapolis
and Duluth, being reported numbering
LIZ cars, against ,159 cars last year. The
effect of this was dssipated however, when
it 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
Z iGih on tfsjyl
ket, was without doubt the chief reason for
the decline. The Chicago receipts were 26S
quality The days clearances from At
lantic 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 promptly
sat on at the opening. Lower continental
cables intensified the weakness and a gen
eral selling out of purchases made around
5SAc carried the price down to 573sQ5Sc 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 1899 per bu. May opened a shade
higher, at 24asQ241ac, 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
a lower figure than ever known before.
The weakness in wheat and corn and the
dizziness in speculation We're against the
price. May opened unchanged at 1880 and
declined to 1Si441s34c where it closed. Pro
of the day before. Trade was light and
when buyers appeared the packers had all
kinds for sale for Janu Ary delivery. Janu-
airy pork declined from $3.50 at the start
to $3.50, closing at the latter; January lard
from 36212c dropped to 3.5712c and closed at
that; January ribs fell from 3.3212c to 3.30c.
Estimated receipts for Monday-Wheat,
325 cars; corn 900 cars; oats, 400 ears; hogs,
80, 600 head. There viii be no markets Mon
day, it being legal holiday.
Leading futures ranged as follows: