The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-09-25
FIRMER WHEAT MARKET
HIGHER FOREIGN CABLES CAUSED A
CLOSING ADVANCE OF 1-4C.
Other Grain Was Weaker, and Wound
Up Shade LOwer-PrOvisiOns
Showed Heavy Declines.

CHICAGO Sept a. - Wheat averaged
higher to-day and closed at 14c advance for
the December future. Local feeling was
bearish, but there was enough encourage
ment to buyers in the way of bullish for
eign news to keep the market little above
yesterdays prices Other markets were dull
and inclined to weakness, provisions having
another touch of the yellow-fever scare.
Cora and oats closed a shade lower, while
provisions showed 7lzQ15c decline at the
close.
In wheat prices around the opening were
controlled entirely by the action of the
Liverpool market. That market started
at a4d decline. but before the opening here
had not only recovered this, but added &d
to yesterdays closing price. The reason
given for Liverpools strength was a re-
port of damage to the Argentine crop by
frost. That was considered unlikely, and
another private message from Liverpool
said the report was without foundation.
The market here, however, took sufficient
notice of the report to open December wheat
at from 92$4c to 927sc, the closing price yes
terday having been 9214@92ssc. The advance
encouraged sellers and quick reaction to
917sc followed. 1t was stated on the floor
that a special session of the British Parlia-
ment was being talked of to consider means
of relief for the sufferers on account of
the Irish potato-crop failure. The bringing
of this feature of the worlds food situation
before traders undoubtedly was influential
in the advance to 93c which followed the
decline to DISC. One decidedly weakening
factor was the continued heavy local and
Northwest receipts. Chicago received 229
cars, twenty-eight of them of contract quail
ity. The quantity inspected out of store was
only $4,000 bu. Minneapolis and Duluth
ceived 1,0O1 cars, against lob a week ago
and 722 the corresponding week of the year
previous. The bull clique was left alone in
great measure to do all the fighting
against the bearishly inclined section of the
local operators. Most of the heavy traders
expressed themselves unwilling to buy
during the continuance of such heavy
Northwest receipts. New York reported that
foreigners were moderate sellers of futures
early in the session. private cablegram
from Berlin read: Wheat declining; Dan
ubian states and Russia offering freely"
The Atlantic port clearances of wheat and
flour were 400 600 blu. Primary market re-
ceipts amounted to LIT 522 bu compared
with 2.S47 blu the corresponding day of last
year. The closing prices abroad showed
terday's final quotations: Liverpool, No.
American red and No. Northern spring,
Id lower futures, Esd to ed higher. Paris,
centimes lower for September and 20 CEN
times lower for later futures. After the adj
vance to CSC the market reacted to 9215c. A
slow advance to 927sc followed but the
weakness of closing cables caused another
reaction, the price of December dropping
back to 9212Q925sc by closing time.
Trade in corn was dull, and the small
amount of business made a rather heavy
market. The start was strong in sympathy
with the opening jump of wheat 1t followed
that market on its decline and for the re-
mainder of the session ruled very quiet
and f1uctuated within a narrow range. Ca
bleS were unchanged to I'd higher Eleva-
tor people reported freer country accept
ances. Receipts were 512 cars. Cash de-
mand was reported poor December ranged
between %m307sc and 30ssQ301ac, closing a
shade lower at 305sc bid.
Oats fiuctuated sympathetically with
wheat and corn. Elevator people sold mod
erately. The cash department was easy,
with sales Ac lower. The market was very
dull during a greater part of the session
and fluctuations were narrow and infre-
quent. Receipts were 342 cars. Clearances
were $4,000 bu. December ranged from 207sc
to 293sc, closing a shade lower at 2U1su zUz4c
Provisions were weak. Bad yeIlow-feVer
news and liquidation of October contracts
for ribs especially were the principal de-
pressing features. The market apparently
lacked short interest and showed absolutely
no buoyancy, closing at the bottom of q
rather severe decline. At the close Decem-
Der pork was 1212c lower at 20; December
lard l5c lower, at $4.45Q44715 and December
ribs 112c lower, at $4S212. October ribs de-
clined 15c.
Estimated receipts for Saturday-W Wheat,
rs cars; corn, 5S5 cars; oats, AIS cars; hogs,
II 600 head
Leading futureS raopad a. folIOvc.