The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-09-23
WHEAT WAS A SURPRISE
DECEMBER FELL TO 9OI-2C AND
QUICKLY ADVANCED TO 81 1-2C.
Corn and Oats Both Were Strong
and scored Small Gains-Provi-
siOns Almost Unchanged.

CHICAGO, Sept 22.-All the grain and
provision markets turned very pretty flip
flops to-day starting weak and closing
strong, and in the case of wheat with a
very substantial advance The strength of
the cash wheat situation in the North
west and confirmatory reports on the Rus
sian crop shortage were factors in a 1-cenc
gain for wheat. Corn advanced CSC and oats
nc Provisions closed unchanged to 215c
higher.
Wheat took it's opening tone from Liver
pool. Before the opening here that mar
ket showed a I'D decline, which was 1e-
fiected in the first trades in December,
which changed from 901ac to 90s4c, or 7401c
below yesterdays closing prices. But the
market Immediately commenced to recover
and in about an hour and half from the
opening December had risen TO 921sc.
There was nothing particular in the news
to cause the sudden change in the senti-
ment. A reaction appeared to be due in
the natural order of things and when some
investment orders appeared on the market
shorts started to cover. The very narrow
ness of trading probably prevented FUR
Their advance. The only really bearish fea-
ture was the receipt of S53 cars Of wheat
at Minneapolis and Duluth, against 5S6 a
POAANAAAo
1896. Even that was only bearish on the
surface. The cash prices at those places
to-day were from &c to 21ac a bushel over
December so that receipts there now rep
resent probably the bulk of the entire
movement from the farms in the North
west. to the exclusion OF any accullu uL
lions in interior country houses. lie
Chicago receipts We're 344 cars OF wheat,
of which only 80 We're contract. Inc I0td
receipts of winter wheat at Kansas lily.
bushels. The business done at New hOTN
yesterday for export was reported 10 nave
largely exceeded what was mace the most
of the day before, the total pelng reported
to-day at 485 600 bushels. AcceptanceS
were reported of some of last nights ca
bled offers to the United Kingdom ON are, re-
action followed the advance to S21sc when
closing continental cables showed decllueS
of Is confines at Paris and l212 TO 70 cent
lines at Antwerp. The longs also look o ga
vantage of the advance to unload Soou
deal of their holdings and the result WIS
that December dropped back TO 9O1sc' 1 ,nt
the market turned for the last TIME 1lo
cash strength at Minneapolis brought the
selling to a sudden halt and prices CON-
manced to climb at once, not stopping uItlI
December touched the high poln dfo pa t ts,e
close Confirmatory reports rom LiI0
United States consul at odessa conceEl, ,
ing the Russian crop snorldsS alsJ J - -
in the late strength December closeu de
Corn started easier, with wheat, and on
larger TeCelDIS IMAM 6APOSLCN'
ket soon recovered it's tone and closed
Strong, &c higher than yesterday It was
a. largely scalping market, and the nue. ia. la
lions Of wheat had more infiue nee than
ANYTHING else Shorts were the pest puy
any 'liI 1tountTv offerings were reported
larger The cash demand an was P 1orem her
ranged from 9Ossc to 311sc, closing at SI1sc.
oats were quiet but firm 7sd r 60o bushels
being reported sold here for shipment nf 4 the
s stlre though to a certain extent wheat
and Corn assisted. Receipts were o SV6 cars airs
December ranged between Nc ana 1l12c anu
closed at 2O7kc an advance or &c.
M, ,,,ar,af ruIed easy around the opening
because Of the heavy hog receipts e en9 Gehe
recoverv ensued later. in sympathy Win
the advance in the grain markets s t anu d ave
closing was at the best prices OF the gay
Al the close July pork was zee hlSheI.
at $40: December lara , uilc 5ian richer
81. 65Gl .671h, and December ribs z72c hlsiei'
at $4.95. uao,,. Wheat
OK cars: corn ASS cars; oats, ESQ cars; hoss'
-S,VOV aVOod follows.