The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-08-18
DECLINE OF NEARLY &C
DAMPER ON CHICAGO WHEAT BY
LOWER LIVERPOOL MARKET.
September Opened Lower and Weak
ness Was Marked All Day-PrO-
visions Strong and Higher.

CHICAGO. Aug. 17.-Wheat had a de-
cided damper put on it to-day by the I'M
expected weakness of the Liverpool mar
ket and showed a 134017sc decline for the
September option at the close. Corn was
weak on the favorable weather and crop
reports and declined &c Oats were steady
and showed no change. Provisions were
strong in the main. pork advancing 10d1212c.
while lard and ribs We're substantially I'M
changed.
A decline of 1c per bushel inaugurated
the days business in wheat. September,
which closed yesterday worth S512c, strated
at from 45sc to S412c. 1t gradually i'm
proved to soc and fell off again 10 SAGE and
for over an hour it kept fluctuating be-
tween those figures. December was some
what steadier after the confusion of the
opening and narrowed its discount from
September for a time. The Liverpool mar
ket at the opening was only l245sd higher
than it closed yesterday, which, in COM
parison with yesterdays 112c advance here,
was great disappointment, and its effect
on the market was very apparent. In addi-
ton to the unsatisfactory advance at Liv-
erpoOl the receipts at Chicago substantially
confirmed the increase movement that yes
terdays estimates foreshadowed. The num-
compared with 260 a year ago OF this
number 1893 were new wheat The out in
spection was 1000 bushels. Minneapolis
anu Duluth got 342 cars, against 469 Tues
day week ago and ass the corresponding
day last year Bradstreet reported an in
crease Of 100000 bushels in the world WISH
BILE compared with a decrease of $1,000
bushels the year before. The market had
been holding very steady between S434c and
Soc for September until the receipt of the
repOr-, but became weak Immediately after
and declined to SAC. New business from
outside was small and what there was OF it
was chiefly for December delivery. Trading
in September was generally in the way of
settling up outstanding contracts. Cudahys
buying of September was quite conspicuous.
That operator was said to have received
Very dIscouraging news regarding the pros
poets for spring wheat. Seaboard adViceS
were IN continuance OF what had been their
regular drift for some time concerning the
excellent demand from exporters. Long
wheat began to come out in the last hour
of the session, but it did not look like any
of the larger lines; in fact, the market
was too small to have takenany considerab
quantity without quite severe break. Sep
TENDER gradually declined to S3Ac but had
recovered to S33sQ8334c at the close.
! Corn was weak from the start, losing 9sc
during the first hours business and recov-
ering but little of the decline Crop re-
ports were, as rule of the most favorable
character. Liquidation was quite heavy
and especially by elevator people, who re-
ported free acceptance of country offerings
The wheat bull crowd a large buyer
of December corn. Local receipts were
heavy, 1887 ee.rs. September opened 1s013sc
lower, at 28A@t2812c, and ranged between
that price and 2778c, closing weak at 2S1Bc
bid.
Nothing of particular interest developed
IN oats. The market was fairly active.
though the range of prices was unusually
narrow. There was an inclination TO yield
with corn for time, but the good export
demand checked it. Receipts were 70G cars
September opened at 1794c, yesterdays clos
ing price. The range was between 1758c
and l7Ac, 177sc being asked at the close
quite an active business was done in
provisions. During the first hour the fnfiu-
e eL of the lower yard prices was felt, but
the market suddenly turned strong on the
buying of a big line of pork credited to
Armour, and, although some of the adj
vance was subsequently lost, the market
remained rem strong to the close; Lard and
RIBS We're rather neglected At the close
September pork was 10Q121Ac higher, at
$50; September lard unchanged, at
$4.4a1z; and September ribs a shade lower
at "a. 9212Q4.95.
Estimated receipts for Wednesday,
" Wheat, 265 cars; corn, zoo; oats, AGO. hogs
~, 60,