The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-08-16
WHEAT TURNED HIGHER
AFTER ONE DAYS DECLINE CHICAGO
PRICE JUMPED UP 5-SC.
RumOr that French Government
by BulIs-ProvisiOns DuIIer.

CHICAGO Aug. 1.-THE shorts in wheat
had another shaking up to-day. September
advanced 27sc from the low point and re-
tanned an Improvement of 2l2d2Ssc. Rumors
that the French government would remove
the import duty on wheat and predictions
of frost in the Northwest caused the up
turn. Very little cash business was done
and receipts were liberal Corn was helped
by predictions Of frost and gained l2c. Oats
were steady. Provisions were steady to a
shade easier on dull speculation. Pork lost
DC and ribs 21ac Lard closed unchanged
Wheat opened frmer to-day than it ruled
near the end of yesterdays session, the
opening price for September being from
S1a4c to SIC, against S11sGS15sc at the close
yesterday. 1t had a spell of relapsing weak
ness that caused a temporary dip to slice,
and that was followed by returning
strength that raised its price to S2Ac An
other temporary depression was followed
by d still more vigorous interval, and during
the continuance of the latter September
rose to S31sc. The Liverpool market was Ad
lower for September wheat and unchanged
for spot. Paris was 114c per bu higher The
most influential factor was the bad reports
that every one appeared to be getting con-
corning the condition Of spring wheat in the
Northwest. 1t was rumored that the French
Ministry had authorized some change in the
duties on wheat in the direction of reduc-
ton, or, some interpret it, in the way of
a concession in favor of French millers in
some indefinite way. The lessening of the
import duty in France would enable the
grain dealers of that country to flood their
own markets with foreign wheat, and the
demand would be chiefly directed to Amer
lea. AS the price of Wheat at Paris was
quoted in the first dispatches at an advance
of 1Ac per blu, it was fairly good evidence
that there was no knowledge in
Paris up to that time of any change
in the rate of duty AS, however,
later kilograms from there reported de-
cline equal to from 1c to 2$sc per bu the
rumor began to gain credence and prices
We're rushed up with will. The receipts at
Chicago were 219 cars and the out inspec-
ton 1883 blu. The receipts here for the
week were $50 bu, and shipments 1885,
433 bu The days cIearances of wheat and
flour from Atlantic ports were equal to
$4,000 bu. Beebohm estimated the snip
ments to Europe from all countries for the
port any wheat, against $4,000 bu in the
similar week last year. The excitement
continued until a few minutes before the
close, and September sold at A3sc, within
1sc of the highest point touched on the re-
cent bulge. September opened 12Q3sc high
er at S17sQ82c, sold between SLICE and S47sc,
closing at sac.
Corn was firm, notwithstanding general
rains throughout the corn belt. The trade
was not heavy until near the end of the
session, when the strength of the wheat
market and rumors of frost in the North
west added to the fears of tho shorts and
encouraged the bulls to show more ag-
gressiveEess. Receipts were 1,052 cars. The
days exports were $4,000 blu, and for the
week clearances were 1915, 652 bu. Argen-
tina shipped only 5000 bu this week, against
1,424 900 bu the similar week a year ago.
September opened unchanged to Ac higher
al from 277sc to 2S1sc and down TO 21a4c for
a moment. 1t rose steadily after that and
reached 2812c about five minutes from the
end of the session, and was still bringing
2S3sQ2S12c at the close.
Oats were quiet throughout Prices ruled
steady. Chicago received SOB cars. The
export inquiry rather moderate. Sep
TENDER opened a shade higher at 173sc, sold
al 175sQ1734c and at 1712c, closing at 1880,
sellers
Speculation in provisions was extremely
duh, although the cash trade assumed
quite respectable proportions. September
pork opened unchanged at IS, declined to
$7.9215 and closed at 1875. September lard
opened a shade higher at $442l2 and closed
al $40 September ribs opened unchanged
at $3.50, sold at $49212 land closed at 4.S12.
Estimated receipts for Sunday-Wheat
$50 cars; corn, $50 cars; oats, 725 cars;
hogs. 10000 head.
Taadino futures ranged as follows.