The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-09-06
FIRMER WHEAT MARKET
OF FRIDAYS LOSS RE-
COVERED AT CHICAGO SATURDAY.
other Grain Followed the Strength in
Wheat, but Provisions Were
Dull All Day.

CHICAGO, Sept. 4.--Wheat recovered ex-
acty half of yesterdays 1Ac decline to-
day. The tone of the foreign markets,
which caused the decline yesterday, was
also responsible in a great degree for to-
days advance Corn and oats followed
wheat and advanced 1sQAc each. Pro-
visions, however, were heavy, and wound
up the day with slight declines. Trading
in wheat was narrow, with prices conhned
to a narrow range. The market started
strong at 94094Bc for December an ad-
vance of 114Q1$sc over yesterdays closing
prices. Liverpool showed substantially no
change notwithstanding 1%c decline here
yesterday. New York reported a large busl-
ness done for export the day before, the
quantity being placed as high as bzOoUV
bushels, $4,000 bushels of it from New YORK
direct and 204 900 bushels from outports.
The weeks clearanees of wheat and hour
from both coasts as reported by Brad
street, was $685. bushels These We're
the most prominent features of the early
news. and were presumably the reasons
for the strong opening. There was enough
realizing at the opening advance to send
the price down to $3.50, when a gradual re-
covery took place, the market reaching
938sc Ly II 80 o'clock. The Missouri state
crop report was bullish statement, giving
the yield at 8, 400 900 bushels, compared with
70 900 bushels the year before. The news
from the Northwest was also suggestive CT
even a poorer crop of spring wheati than
has hitherto been believed in, especially as
regards the quality of the new wheat. The
American consul at Odessa is reported as
stating the Russian yield of wheat III some
placeS to be only four bushels to the acre.
The orld's shipments of wheat and flour
to Europe this week are estimated by Beer
bchm at S,0OO,000 bushels. chicago fecelptS
We're 80 cars, only ~ OF them contract ana
% of these No. spring. Minneapolis ana
Duluth received only $50 cars, against 1,il'
the corresponding day of 1896; ms con-
change. Paris reported decline OF 10 cen
times and Antwerp an advance OF ~
confines. Clearances to-day were reported
at $4,000 bushels. The local shipping de-
mana was at a standstill W hich fact some
what initiated against the bulls. Decem-
Der was selling at $3.50 at the close; 49,
Corn was slow, but steady, helped by the
hot, dry weather and by the fact mat Ar
gentine corn shipments were notning,
whereas last year $4,000 bushels were
shipped. There was some Apprehension
over expected enormous receipts by Iues-
day and a disposition to even up over
Mondays holiday was shown, wnich re-
suited in d partial loss of the opening adj
vance. Cables were unchanged. SeaDoard
clearances were 100000 bushels. Local re-
ceipts were posted at ,,645 cars December
opened AM3sc higher az 'o29sQ324c, SOLD be-
tween 325sQ32ssc and closed at 3212Q32ssc.
Oats were quiet and practically feature
less the market attracting even less at
tention than usual. The feeling was steady
in sympathy with corn and prices We're
slightly higher throughout. Country, offer
ings were light, but shipping demand poor.
Receipts were Ala cars. December sold be-
tween 201aM202sc, closing at the latter hgures
an advance of 1s014c.
Provisions were dull and q shade lower.
The opening was steady with corn. Pack
ers sold sparingly but light as the offer
ings WERE they were greater than the de-
mand and a slight decline resulted. At the
close December pork was sc lower at 1922.
December lard about sc lower at $4.S2l8, and
December ribs nominally SC lower at 500.
Estimated receipts for Monday: Wheat,
450 cars; corn. 2, I00 cars; oats, 425 cars;
hogs, $1,000 head
~ 1;,1r, f1t1,rac rappad fo1IOwS.