The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-09-09
SMALL LOSS in WHEAT
HEAVY REALIZING OvERCAME THE
STRONG, BULLIsH NEWS.
Provisions Weakened with Corn. Pork
Going on 20 Cents, and Other De-
scriptiOns Were Lower.

CHICAGO, Sept. S.-Wheat closed to-day
at a decline of NC in December, the active
future The decline was due to short SELL
ing and realizing, and was in the face of
very urgent export demand. Corn was
weak at about 13c decline, the predicted
break in the long, disastrous drought in
jecting some ginger into the bears. Oats
declined 1sc, pork zoe and ribs 5071bc. Lard
was only shade lower.
Wheat opened strong at from 96Ac to 961bc
for December, compared with 961sc at the
close yesterday. For twenty minutes it
struggled upward and at the end of that
time it had reached $3.50. At around 9e$4c
people who had been selling for scalp
were compelled to buy, but about that time
heavy holders of long wheat loaded the
market with all it could hold and continued
selling until the previous addition to the
prices had been driven off and a decline of
1ac had been established, the price having
receded from $3.50 to 955sc. Liverpool
opened about sd higher and somewhat
later advices showed another I'D advance
That was the reason for the opening
strength. Paris also showed an advance
and foreign crop advices We're all of a
gloomy tenor. Chicago received $50 cars of
quality and eight of that small number was
No. spring. Minneapolis and Duluth got
so cars, compared with 92O the correspond
ing day of the previous year. The Atlantic
port clearances of wheat and flour were
equal to 651 900 blu. Closing cablegrams re-
ported material advances at Paris and Ant
Werp equal to from 25sc to 31sc per bu at
the former and to &c per blu at the latter.
The news from New York about the foreign
demand for wheat was quite as strong as
It, was yesterday. Every one who offered
wheat by cable last night received accept
ances and requests for further offers New
York took all the cash wheat offered from
Detroit, according to a dispatch from the
latter city, and a message emanating from
st. Louis said that London cablegram re-
ported locustS in Santa Fe province, Ar
gentina. The origin of the cablegram be-
ing rather obscure, not much attention was
PAID to 1t, but the great foreign demand
for cash wheat and the strength of the
continental markets renewed the bulish
feeling, and the decline that followed the
of December once more reaching $3.50. At
that price realizing sales again became
quite heavy and the market gradually de-
clined to $3.50, where it closed
Corn was irregular. The market opened
firm on the dry hot weather and continued
crop damage reports, the reports to-day be-
some covering by shorts and slight adj
vance, which was lost, however, when the
Weather Bureau predicted rains in the corn
belt and a general break in the hot spell.
A slight recovery ensued later with wheat.
Atlantic port clearances were $4,000 blu,
and New York reported a strong foreign
demand and heavy sales for export Re-
ceipts were 1929 cars. December ranged
from 33$ic to 3234Q327sc, and closed at 33c
bid, 12Q5sc below yesterdays close.
Oats were relatively firm, almost holding
their own, although there was a break of
&c in corn at one time. The speculative
trade was very moderate and fluctuations
were confined to narrow range. The ship
ping demand was large, a sustaining factor.
Local receipts were 364 cars. New York
wired $4,000 blu taken for export Deem
Der ranged between 205sG21c, closing at 207sc
asked an advance of 1sc.
Provisions were very quiet, the market
ruled easy, the result of yellow fever scare.
There was some suppOrt, but not so ener-
getic as yesterday, the result being a grad
ual decline The decline in corn was a
weakening influence. AT the close Deem
Der pork was zoe lower at $S.6214; December
lard a shade lower at $4.S5, and December
ribs 50712c lower at $4.971@05.
Estimated receipts for Thursday-Wheat
400 cars; corn, 1850 cars; oats, 425 cars;
hogs, $4,000 head.
Isr,or fr1{1, ell