The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-08-02
WHEAT OPENED HIGHER
SEPTEMBER OPTION ADVANCED TO
80 5-sC, But REACTED TO "a 5-SC.
Features of Saturdays Markets at
ChicagO-COrn Fairly StrOng--Oats
Dull and Provisions Lower.

CHICAGO, July 31.-The July deal in
wheat expired generally to-day at 7512c.
Liverpool sent no quotations and although
the continental markets We're higher, Sep
TENDER closed only &c higher in this mar
ket. Corn averaged strong, but eased off
with wheat, gaining 15c. Oats were dull
and unchanged. Provisions opened active
and higher, but lost the advance showing
2]sq5c loss
Liverpool is keeping holiday and sent no
quotations on grain this morning except
London cablegram quoting the cargo mar
ket strong on account of continental de-
mand. New York advices of about 100000
bu wheat having been sold there for ex-
port yesterday was an element in creating
the - cength with which wheat started
here. September wheat closed yesterday at
7412c. was wanted at from 747sc to 157sc at
the opening and rose in a few minutes to
751Ac. 1t reacted to 7424c and followed that
by another quick advance that ended at
rs G755sc. The latter bulge was due in
some measure to an advance in July wheat
al New York of nearly 4c per bushel. The
crowd took the same side and plenty of
long wheat came out Wheat delivered en-
the July contracts-as much as 100000 blu,
it was said-had some influence in check
that the visible would Monday show
another considerable increase and that
urinary market GssPts neT would week oe
ton in buying. The receipts at the
primary Western markets to-day were
300, 900 bu against $4,000 bu last year. OF
to-day's receipts Kansas City got NIOUO
bu. Chicago had 176 cars, lol OF them new
slJected out of store was $4,000 blu. The
weeks clearances of wheat and flour were
equal to S4 40 bq from 9 %Hfore coaT S
exports from Atlantic ports for twenty
four hours were equal in wheat and Hour
to lS5, 900 bu September wheat opened
3sd9sc higher at 747sG75Bc, advanced to
751aU757sc, and declared to 1880 for causes
already mentioned 1t did not rally again
to over 747sc, and later it declined to 74Ac,
and closed at 749sc. The Paris and Ant
Werp markets closed with additional adj
vances of about the equivalent OF &c
buShel.
Corn got a very strong start, because
of the extreme heat reported to De pre-
vailing in Kansas. RePorts from 1e,.d tllS
as to the bad effect on the crop by dry
weather and temperatures around l0O III the
shade. Missouri also sent Dad reports, ana ana
some complaints came IN from Nebraska
also. The early advance in wheat was
also factor in the opening rise IN corn
While the subsequent loss In wheat OF all
but a small fraction of it's early advance
had the effect of bringing out some OF the
scalping lots of long corn, the market could
not be called a nat one at any TIME anu
it closed at a small fraction higher than
yesterday. Receipts were S 076 oo cars: Elk
ports for the week We're 3,SO4,O0O busnels
against 4,64S 900 bushels the week before
September started AG42c higher, at 2oMc
declined to 27fsQ27a4c, and closed with
sellers at 277sc.
The market for oats was one of more
than the usual dizziness which characterizes
a short session. Sales were few and all
small the disposition to do business either
way being very slack. An easy FEELING was
apparent, yet prices showed no material mater IA
17%c, touched 17Aq177sc and declined to
175kQ173zc closing with sellers at that price.
The cash department was steady. Receipts
were 4,460 cars.
The provision market opened as if it
meant to scare the shorts out of their mar
gins but did not carry out the programme.
After a very bullish start, the market be-
came quite tame in the absence of outside
orders and lard was soon left alone to
carry the bull diversion. 1t also wore off
and in the end September. pork showed
loss of 51ac, at $685. lard. &c at $4.3O; ribs,
&C. at $40.
Estimated receipts for Monday: Wheat,
$50 cars; corn, 1910 cars; oats, $50 cars;
hogs. q, 900 head.
rod aS fO11