The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-08-19
September Cereal at Chicago Reached
IS I-2c, the Highest Point
Touched Since 1891.
FOREIGN DEMAND INCREASES
LIVERPOOL HIGHER AND HEAVY
ORDERS COMING FROM PARIS.
Other Grain Markets Scored Gains.
While in Provisions Pork jumped
80 Cents Barrel.

CHICAGO, Aug. 18-September wheat to-
day sold at the highest point reached since
1891, and closed amid great excitement at
8S15c, anadvance of 418c since yesterday. The
market was strong all day, but the SEN
sational advance at Paris started a regular
stampede among shorts, and sent prices up
like a rocket. Other markets were dragged
along by the whirl of wheat, corn advanc-
ing sc and oats &c. Provisions closed at
advances ranging from 212c for lard to soc
for pork.
In wheat traders were treated to a sur
prise at the outset by the action of the
Liverpool market, which was totally I'M
affected by yesterdays sharp break here,
and before the local opening even showed
an advance. This was due it was said
to buying in England oy the continent of
cargoes of California wheat New York
also reported numerous acceptances OF last
nights cabled offers. September which
closed yesterday at from $3.50 to 85a4c.
was wanted at the opening at from
S5l%c to 854c, and sold sparingly
at S53sc at about the same time.
There was naturally a great deal of
wheat for sale on so radical an advance
and before sellers fell again into a mi
hority the price had reacted to $3.50. From
that point it began another climb, and went
higher than before ere it reached another
hating place. Principally to the poor crop
reports from the Northwest was due the
second advance Not only were threshing
returns of what was harvested disappoint-
ingly light, according to those reports, but
that part of it still standing had deterior-
ated considerably IN the last three weeks
Fields in North Dakota that three weeks
n ynf
twenty-five bushels cannot from present
appearances, yield over from twelve to flf-
teen bushels, and the average for the best
part of the State, where the wheat is still
growing, is now but cOnSerVatiVely at not
over twelve bushels. September advanced
to 659sc before realizing was sufficient to
send the price down again. Then for some
time the market fingered around S51s TS54c.
Chicago receipts were 1873 cars, and 2)3,000
bushels were inspected out of store I1inne-
apolS and Duluth got ia carloads, COM
pared with 23l a week ago and 345 the cor
responding day of last year. The primary
markets in the West received a total Of
S43 900 bushels, compared with 657 900 bush
els on the like day of 1896 Exports from
Atlantic seaboard we're equal in wheat and
flour to 665, 900 bushels.
The sensation of the day was the great
advance in the Paris quotations. The Au-
gust delivery is equal to SIC per bushel
higher than it closed Saturday last. De-
cember-February term was quoted l franc,
or the equivalent of sac per bushel higher.
The effect on the market was felt immedi-
dl6Iy, the PIT llllllB WITH dIl&lOuS SIlOTIS,
and the price jumped to SEC in a very few
minutes. Even at that price little or no
wheat was offered for sale, and the market
advanced with extreme rapidity. The close
was wild, SS12c being offered for September,
while December was practically on an even
plane with it, but was bringing 8S$sc at the
end.
Corn was strong, but its strength was
chiefly a reflection from the bullishness of
the wheat market The weather was too
cool to be satisfactory, however, and
general apprehension of frost damage pre-
easy until the last hour, when the wild
burst of wheat carried corn along, the close
being strong at the top prices.
Local receipts were III cars. Atlantic port
clearances, 722, 600 bushels. September
opened &c higher at 283sc, declined under
liquidation to 277s62Sc and advanced to
2S7sc, closing at 28349287sc.
The trade in oats was rather sluggish
until the last half hour Of the session, when
the enlivening influences of wheat was felt
to a marked extent. The market was With
out independent features, prices being con-
trolled entirely by other grain markets.
Local receipts We're 40 cars. September
opened a shade higher at 17%q177sc, de-
clined to 176sM1734c, and advanced to &c.
where it closed.
able addition to the speculative interest IN
them was evidenced by the more than or
binary numbers of orders from outside
sources Most OF the trading, however, was
confined to pork. Packers bought rlbs.
The strong grain markets We're the man man
was goo higher at $3.50, September lard 212c
higher at $3.50. and September ribs lZ1291oc
higher at $5.Ul1a- vr,,4
Estimated Receipts for Thursday-Wheat.
325 cars; corn, 900 cars; oats, 625 cars; hogs,
"o,Ooo H. f,,+,,ros rapoed as follows: