The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-09-28
IN SPITE OF BEAR VIEWS
WHEAT AT CHICAGO RECOVERED
EARLY LOSS AND SCORED GAINS.
Slight Advances Also Marked Up In
Corn and Considerations Strong
and Pork 15c Higher.

CHICAGO, Sept 27-wheat was firm to-
day, in spite of large array of bear news.
December closing at Aassc advance
Drought reports are beginning to attract
q great deal of attention and were iniuen-
tial to-day, causing the slight advance. The
dry weather was also a feature of corn,
which closed AG9sc higher. Oats advanced
NC. Provisions were strong and closed 100
15c higher.
Wheat was very weak, and at the opening
initial sales Of December, which closed Sat
urday at, 1850, ranged from 9014c to S015c.
Liverpool opened at a decline of I'D for
wheat futures and Minneapolis and Duluth
reported ,427 carloads as the receipts, while
the exports to Europe for the week from all
surplus producing countries was over $500, 900
bu. Those prices were tempting to shorts,
who started to cover Immediately, and in the
course of an hour nearly all the opening de-
cline had been recovered. Scalpers ran the
market for the first half hour of the session.
After that trading, though quiet, was of a
more general character. The advance was
in spite of the fact that the most of the
fresh information that came in was of a
bearish character. The only important mat
ter of a different character was the clear
ances from the principal Atlantic ports,
which, in wheat and flour together, amount
ed to 10000 blu. December sold up to Gle,
declined to SOa4c and from that point grad
ually rose to 9124c. 1t slid off again to 90$c,
however, on the announcement of the un-
expectedly large visible increase. Statisti-
clan Snow estimated that the winter wheat
crop of the United States was 800, 900 900 bu
and the spring wheat 225 100000 blu. The
amount on ocean passage increased 1885, 000
riT arxyr 1rlyn frnfs-
for the day were 1,776.0O0 bu, against 1856 0UO
Du a year ago. The visible supply increased
2,643,OOO blu, whereas only about 100000 blu
had been accounted for Stocks in Liverpool
are 225,OO0 bu smaller than a week ago and
the English visible decreased 126,CO0 bu. Clos
ing Liverpool cables reported declines in
futures of from Id to I'd. Paris was strong
and 60 centimeS, or 315c, per bu higher for
september and 10 cenumes higher for later
delivery. Antwerp showed an Improvement
of l212 centimeS. Complaints of drought in
the winter-wheat section are growing more
general every day. Seeding, it is said is
being greatly retarded These reports We're
very influential during the morning. The
market grew quite strong toward the close
The strength of the closing, better CONT
mental cables and reports of drought dam
age In Argentine started renewed buying
Good support came from new York also
DECEMBER advanced to 91%Q9l7sc and closed
at 919su91Ac.
Corn was weak at the opening, especially
through sympathy with the wheat market
The market soon turned strong and renamed
so during theremainder of the session Shorts
were liberal buyers, holders of puts also
supporting the market. The advance was
partly due to sympathy with wheat. The
dry weather West, necessitating the feeding
of corn to stock on account of the drying
up of the pastures, was a factor. Receipts
were 697 cars. The visible increased l, 500, 900
blu. Clearances were 1900 bu. Elevator
people were the best sellers December
ranged from 297sQ9Oc to 2914c. closing AQasc
higher, at 297sQ30c.
Oats, in common with other grain mar
kets, were easy and lower around the open
ing; Later shorts were good buyers, and,
with the urgent inquiry for cash oats from
outside points, caused a rally, which closed
the session with a firm feeling. The market,
for the most part, was only fairly active.
The visible supply increased $1,000 blu. Re-
ceipts were 59S cars December ranged
from 2Ol4c to $4,000, closing Ac higher, at
2014c.
The market for provisions was fairly ac-
tive. The opening was rather heavy. There
was the usual batch of yellow-fever news,
and hog prices were lower. The market
later turned strong under the leadership of
lard for which product a good foreign de-
mand was reported. Shorts were good buy
ers. The market closed strong at top val
ues. December pork, 15c higher at $3.50;
December lard, 15c higher, at $4571a, and
December ribs, 1Oc higher at $4.85.
Estimated receipts for Tuesday - Wheat,
$40 cars; corn, 1,02O cars; oats, $50 cars; hogs,
1900 head.
LOADING fi1t11rac 20 mead nc folIov,yc.