The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-09-01
STEADY GRAIN MARKET
TRADING COMPARATIVELY DULL,
WHEAT SCORING GAIN OF 1-2C.
Cables We're Higher and SeabOard
Shipments Large-COrn active
and Provisions Lower.

CHICAGO. Aug. 31.-Grain and provision
markets to-day gave further indications OF
recovery from the fever of last week ana
trading was chiefly characterized by It's
dullness. Corn was perhaps the most actlVe
IF all the markets. Wheat closed Zee high-
err Corn was about unchanged; oats 1sc
lower and provisions unchanged to 7l2c
lower.
Wheat opened firm at an advance of from
71c To 1c ner bushel for December. The
only apparent reason was the strong Liver
pool market. The opening quotations from
Liverpool gave wheat futures at %d adj
vance and the next cablegram at %d fur
Their improvement. making l1ad before trad
ing started here. The tendency during the
next two hours was to grind off a little
of the starting advance. The market mill
was not running with its recent velocity
so that the fractions came off reluctantly
and when the bears ceased grinding out
short wheat the reduction that had mean
time been effected was partly re-estab-
lshed September was only occasionally
heard from and then it was at some little
discount from December; sometimes 1sc and
again it would be sc under. December
started at 9OA@9Ossc. declined to $3.50,
recovered again to 90Ac and then had a
more severe decline, getting down to S912c
as the bottom of the next depression. This
was due in a great part to reports from
the seaboard that foreigners were sellers
there While futures of wheat at Liverpool
opened higher spot wheat was reported Id
lower. Continental markets were said to
have opened at some advance ana Liver
pool cabled that Russian offerings were
small. The London Mark Zane Express put
the Russian wheat crop decidedly below the
average. Contract stocks in Chicago regu-
low nla tors 90
664, 0G0 bushels Chicago receipts were 30
carloads, only Sc of which were contract
10000 bushels Minneapolis reported $40
cars and Duluth 221 total of SOL, com
pared with 1886 the corresponding day of
1896. Atlantic port clearances were again
very heavy at OPS 600 bushels in wheat and
flour of which $4,000 bushels were in the
raw grain. Closing cablegrams reported the
final changes for the day in foreign mar
kets as follows: Liverpool California wheat
on spot, Id higher; American red and No.
! spring, on spot, Id lower; futures from
for August and unchanged for later deliv-
cry; Antwerp, so centimes, or 29sc per
buShel higher
New York later reported better tone to
the cables received there from the United
Kingdom and some few acceptances of Of
fers cabled. The market was small and of
a scalping character after the first hour
and the pit was deserted by large num-
Der of the most active scalpers VINO trans
ferred their attention to corn. The closing
price for December was S97sc.
Corn was firm within 9sc range, the
principal motive for the strength being the
continued dry weather. Smaller receipts
than expected were influential at the open
ing. A good deal of short corn was sold
during the morning, but after the most
urgent of the shorts had finished realiz-
ing caused a gradual decline. Thoman's
September report made the prospective
yield 95S 900. 900 bushels. Receipts were l.
567 cars. Charters were for 1885, 900 bushels.
December opened ss05sc higher at 32120
32%c. 1t kept for a long time within about
that range then yielded to 32c and closed
at 320321sc. Trade on the whole was fairly
active.
A range of &c was covered by prices in
oats. Most of the rather limited business
done was in the way of exchanging, eleva-
tor people buying September and selling
May, while the general run of bulls did the
opposite The tendency was toward east
ness Receipts were 4S3 cars. Charters were
for 100000 bushels. December opened I'M
changed at 20Ac. 1t ranged between 20$sc
and 201sc, closing at the latter price.
A fairly active trade was done in pro-
visions at average slightly over yesterdays
closing, but the close was generally at
Slight reduction. Trading was mostly in tho
way of changing. Cudahy is supposed to
have covered September and sold October
and December. Some of the bull packers
sold, particularly outside packers. Higher
prices at the yards and the strong corn
ing the morning. AT the close December
pork was sc lower at $8.971b; December
lard unchanged at $4.95 and December ribs
unchanged at $50. October and September
ribs closed 21a@71ac lower.
Estimated receipts for Wednesday,
Wheat, $50 cars; corn, 1850; oats, 400; hogs,
81, 600 head