The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-09-15
GRAIN HELD STRONGER
WHEAT SHOWED STRENGTH FOR
TWO HOURS AND THEN sLUMPED.
Corn and Oats Followed for Small Adj
vances, but Provisions TumbIed
on YeIIcw-Fever Scare.

CHICAGO, Sept. 14.--Wheat made a great
show of strength for about two hours to-
day, but slumped and closed with a modest
advance Of &c for the December option 1t
showed a 214c advance at one time For
eign crop shortages caused the early adj
vance, and large visible supply increase
was responsible in the main for the subse-
quent decline. Corn and oats kept in line
with wheat, corn advancing Ac and oats
sc. Provisions had another big injection
Of yellow fever virus, but suffered only
slight declines in consequence
The opening in wheat was very strong.
December, which closed Monday afternoon
at 941s@9414c opened at from 95lsc to $3.50,
and during the next half hour it huctuated
between the starting quotations and 947sc.
1t started up again from the latter point
and rose with the same aggressive persist
ency that has so frequently characterized
1T In the last three months, December get
ting up to 96ss0961ac about II 80 a. In APP
parently the reluctance of Liverpool to fol-
low yesterdays decline here-that market
opening only AQ19d lower-caused the open
ing strength, and later Liverpool advices
showing that market to have risen Id were
certainly responsible for the second rally
The real reasons for the early strength,
however, were some very bad French and
Italian crop reports and some statistics
from the Washington Agricultural Bureau
showing that Europe would have TO import
265, 600 bushels of wheat from North
America this season. all of which, with
the exception of about 25,O00,O 900 bushels,
must come from the United States, being
larger total than has ever been called for
in one season before. The French min
lister OF agriculture reported the wheat
crop of that country IS, 7S9, 900 bushels short
n w. n hn Hon
said to show 100 900 bushels shortage.
Locusts were also said to be playing havoc
with the Argentine crop. Chicago receipts
were 81 cars, only one car of them con-
tract, and l5S,000 bushels were inspected out
of store. Minneapolis and Duluth reported
1851 carloads, compared with 1474 the cor
responding day of last year. The Atlantic
port clearances for the day were equal in
wheat and flour to $4,000 bushels. Brad
street reported the worlds stocks in
creased $1,000 coo bushels 1900 900 bushels of
Which increase was east of the Rockies in
the United States and Canada and 100000
bushels OF it in and afioat for Europe.
Previous to the receipt of Bradstreet's
statement the closing quotations of the
foreign markets had been received. showing
considerable change from the early tone.
They showed Paris wheat 1c per bushel
lower for the near deliveries and INC lower
Tor November ebruary, and Antwerp 12sc
lower. Liverpool also, although I'D higher
Tor futures, was from I'D to Id lower for
was unchanged The weakness Of the clos
ing cables caused a reaction to 9534c. and
when the large visible increase was made
known further decline to 9412c ensued
The market closed at 941sQ945sc for De-
cember.
A good speculative business was done in
corn at an advance over yesterdays clos
ing prices. The strength was due to SYM
pathy with wheat and to the dry, hot
weather Shorts covered literally. The
comparative weakness of wheat late in the
day caused a relaxation in the demand, and
the advance was lost. Receipts were 1904
cars. The visible supply increased east of
the Rockies 2,779,00O bushels Country Of
feringS were light and the shipping demand
little improved. Showers and cooler
weather were promised for Wednesday,
December ranged from 32Ac to 32c, closing
at 321sc asked, an advance of &c.
Business in oats was quiet and unimpor-
tant. The market was strong early with
corn. and a fair cash demand but nearly
all the advance was lost when other grains
reacted. Receipts were $50 cars. The Wis
ible supply increased 336. 900 bushels De-
cember ranged from 21km22sc TO 21d21lsc,
closing at A1sc, or Bc above yesterdays
closing price.
1t was a yellow fever market in provi-
sions again. The market started strong,
with corn. but fear of tho possibility of the
fever becoming more general caused gem
eral selling movement, and a sharp decline
from the opening prices ensued: The prin-
clpal selling was said to be for Cudahy
There was a moderate inquiry at inside
figures, and prices rallied slightly from the
bottom At the close December pork was
719c lower "a $S.25, December lard sc lower
ct $450 anG December ribs &c lower at
$3.50.
Estimated Receipts for Wednesday,
Wheat, 230 cars; corn, $40 cars; oats, $40
cars; hogs, "a, 900 head
Leading futures ranged as follows: