The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-08
BULLISH FOREIGN NEWS
THIS, WITH STRENGTH IN CORN,
MADE L 3-SC ADVANCE IN WHEAT.
Lively Buying Indicated Revival of
Speculation at ChicagO-PrOvi-
siOns Dull and Unchanged.

CHICAGO. July Corn to-day main
tanned the leading position it assumed on
Change yesterday, although all the mar
kets showed more or less revival of specu-
lation Corn, under heavy buying in the
last half hour closed at a zee advance, aft
er selling that much below yesterdays
closing price. Wheat was helped by higher
foreign markets and corn closing at a 1850
advance. oats closed unchanged and provi-
sions from unchanged to sc lower.
The foreign markets gave a good start in
an upward direction to the price of wheat
here. New York had buying orders from
abroad TO begin the day with, and commits
sion houses here had also direct orders on
the same side of the market, both from the
United Kingdom and continent Liverpool
reported an advance of I'D per GENITAL and
Paris was said to show gain of 1 franc
for -four. ST. Louis had more bullish
view of the foreign situation than the
traders here, to judge from the way they
Inundated their Chicago brokers with buy
ing orders at the opening and kept them up
for the next half hour. The local con-
tingent was not slow to follow the lead of
ST. Louis, and bought freely for time, but
they were quick to take their profits when
12c advances had been recorded. Opening
sales of September were made at 65Gl651sc,
the price it closed at yesterday. 1t ad-
vanced to 655sd6534c without stopping, then
slowly slid off to 654c. While the early
strength in corn was help to wheat at
that time, the latter took little notice OF
the weak spell that afdicted corn temporar-
lily in the middle of the day. 1t received
the more telling support ofNa good foreign
demand. both for shipment and for futures.
New York advised engagements for Au-
gust-Septem export Of thirty boatloadS.
The Atlantic port clearanCes Of wheat and
flour were equal to 100000 bushels. The
Chicago receipts were twelve cars. Mime
apolis and Duluth reported the receipt of
167 cars, compared with 211 a week ago and
before The smalfness of Northwestern re-
ceipts was also strengthening FACTOR. Inc
market had a strong upturn in the last
hour on the foreign buying reported at
New York and the sharp advance in corn.
September shot up to 6612c under the BUY
ing which ensued and closed firm at 663s
Q661kc.
Corn again was the leading market on
the floor a heavy business being trans
acted. There was nothing alarming In the
morning news, but the realizing which took
place was not SO great as expected. The
market was quite evenly balanced up to
the last half hour. Late in the session
material increase in outside orders sent
prices up in hurry; September opened
about 3ge lower at 21Ag92'14G sold at zl7s &C.
277sq2Sc, where it closed. Local receipts
were 600 cars.
was an increase in outside speculation. The
market showed no particular independence,
simply following the lead of corn, but there
was not enough business to cause fluctua-
tions of note. Local receipts amounted to
ASP cars September opened unchanged, at
1SMQ1S14c, declined to 177sc and rallied to
1S4c, where it closed.
In provisions there was a disposition to
sell by those who have lately given the
market its best support. Opening easy on
offerings. prices slowly slid of. Part of the
decline was recovered later as corn made
it's final rally. At the close September pork
lard sc lower at $41212, and September ribs
about 212c lower, at $4.45q4.471a.
Estimated receipts for Thursday-Wheat,
cars; corn, $50 cars; oats, 1855 cars; hogs,
80 900 head.
Leading futures ranged as follows: