The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-09-21
EARLY LOSS RECOVERED
WHEAT CLOSED At AN ADVANCE OF
3-SC AFTER WEAK OPENING.
Corn FIuctuated and Finally Scored
Gain, Carrying Oats Up and
Influencing Provisions.

CHICAGO Sept. 20.-wheat closed at &c
advance for the December future, after
starting at a decline of about twice that
much The market was a good deal strong
er than the news and had evidently been
oversod. as there was a good deal of buy
ing early through commission houses. Corn
was firm and weak by turns and closed IA
zee higher. Oats advanced &c and provi-
sions closed unchanged to sc higher.
Wheat ran Independently of Liverpool to-
day. 1t started weak against Liverpools
opening strength and when the latter was
losing ground the Chicago market was
gaining. The opening for December deliv
cry which closed Saturday at 92Izc, was
at 921kc down to 912zc. and few sales were
reported at 915sc the next moment Then
commenced a rise which in an hours time
had advanced December from 91Ssc to 9315c.
The worlds shipments of wheat and flour
to Europe last week were 10,059 900 bushels,
compared with $4,000 bushels the week
before and 7446,0 900 bushels the correspond
ing week of 1896 The quantity on ocean
passage increased $4,000 bushels last
week. English country markets were Is
per quarter lower and Russian wheat in
London market was quoted Cd per quarter
lower; SC per bushel decline in the one
case and 112c per bushel in the other. Min
neapolis and Duluth received 1913 cars of
wheat against HOB the previous week and
1,1OS the similar day of the year before.
Those were of the reasons that caused the
opening decline. The advance afterwards
was rather difficult to account for. Appar
emily the market was oversold, for offerings
were very few and were accepted so c cickly
that shorts grew very apprehensive. Their
fO fod f11oa 1r dxyh
ant market and not until 9315c for December
was reached was there any reaction. New
York reported very little foreign demand to
begin with, but later dispatches said the de-
mand for shipment was good and that
everything offered to Liverpool Saturday
was accepted. Baltimore reported sales of
a cargo of wheat to Leith and another to
Antwerp. The quantity Inspected outward
since Saturday morning from Chicago ware
houses was 215,O00 bushels. The receipts
were 459 carloads. The visible increased l.,
$4,000 blu, compared with 2053,000 bu a year
ago, making the total now 17,1400OO blu,
against 40, 653, 900 bu then Closing conti-
mental cables reported but small changes.
After the advance in December to 9S12c. it
reacted to $3.50 and rose again to 925sc,
which was the trading price at the close.
Although the market was active and f1uc-
tuations both numerous and material, the
trade was not very heavy. A few good
sized buying orders made sellers reluctant
to offer any until it had been bid up, ard
ers on declines.
Corn was fairly active and stronger un-
der general covering by shorts influenced
to some extent by cold wet weather, smaller
receipts than expected and less increase in
the local stocks as well the visible sup
ply than anticipated. The buying was gen.
eral chiefly by the recent large short sell
lers. while the offerings were not very free
until after fair gain was scord. Receipts
were 951 cars. Visible supply increased 1885,
900 bushels. Gables closed lower. Decem-
Der ranged from SOAc to soc, and closed
about re higher at 20l3c
Outside of a small amount of short cover
ing, market for oats was featurelesS and
fiuctuated entirely under the influence Of
corn. Business was dull and range of
prices narrow. Receipts were 523 cars. Wis
ible supply increased 1852 900 bushels. De-
cember ranged from 207sc to 201aG209sc, clos
ing at 205sc bid, an advance of lac.
Provisions We're firm though dull. Prices
were strong at the opening, helped by
firm hog market and the strength of corn.
A moderate reaction took place on some
scattered realizing. but that out of the way
the market resumed the opening flrmness
and held it to the close. At the close July
pork was 2la@5c higher at $s.521adlS.55; De-
cember lard unchanged at $4W12, and De-
cember ribs &c higher at S..
Estimated receipts for Tuesday-Wheat,
10 cars; corn, 1,07O; oats, 475; hogs. 1900
head