The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-29
WHEAT MARKET LOWER
SEPTEMBER FELL OFF is TO L Lie
AT CHICAGO YESTERDAY.
Receipts 80 Per Cent. Heavier than
sfOns Also Suffered LOSSES in Price.

CHICAGO. July 2S.-Wheat was quite err
ratio to-day but kept within a range of
13ac and closed 11sG1Ac lower for Septem-
Der. Foreign markets failed to respond to
the strength in this market yesterday, but
private advices by cable confirmed reports
of damage and a probable heavy shortage
in the European crop. Domestic news was
rather favorable and receipts at all points
to-day were 80 per cent. over last year.
Corn was easy with wheat, closing 1s414c
lower. Oats were also a shade worse Pro-
visions were easy, closing at declines of
21505c.
The Liverpool market was unaffected by
the European continental news that caused
such a fever in the blood of the bulls here
yesterday 1t responded to the Chicago 1Ac
advance of tho day before by a decline of
1ad per GENITAL. The opening here in con-
sequence was at a decline of about 12c.
The price quickly recovered to yesterdays
close on reports from New York that while
Liverpool was weak, continental markets
were strong and sixty boatloads of wheat
offered by cable last night had been ac-
cepted After the buying which was in
spired by the latter information had ex-
hausted itself another spell of weakness set
in because of the liberality of the receipts
at primary Western markets. These
amounted to over SEQ, 0e0 bushels, compared
with $4,000 bushels the corresponding day
of the wear before. The decline on that ac-
count took the price to 72S4Q727sc and when
it in turn had become stall the continental
scare was stirred up again ana caused an
other advance, which was not arrested
until 1884 0737sc was paid about noon. chi
cago received al carloads and shipped 81
900 bushels Minneapolis and Duluth got
80 cars compared with 29S last week and
500 a year ago Exports from the chief
Atlantic shipping ports were equal N wheat
worlds visible supply was reported as
showing a net decrease of 100000 bushels.
That received a bearish interpretation from
the crowd and caused an immediate loss of
most of the advance last recorded, the
price shrinking to 73c again in very rev
this country was only 2O3,00O being 100000
bushels less than was SHOWN by the OIL
fetal visible supply, indicating a further
depletion of Northwestern stocks in coun-
try elevators. The decrease in Europe and
on passage was 100000 Bushels. The SEN
timent continued bearish up to the close.
Increasing receipts scared the longs and
the muchtaked-of shortage abroad was
apparently forgotten in the desire to un-
727s@73c, sold off to 7234c, up to 7312c, to
7234c, to 1884 0737sc, then off to 723sc, which
was bid at the close.
Corn started easier, bat improved slight
ly with wheat and on the repetition of bad
reports from Kansas concerning the grow
ing crop. These reports were offset, how
ties in the State where the crop was said
to be progressing favorably: The receipts
here were S25 cars and 1,063O 900 bushels were
inspected out of store. Atlantic clearances
were only 92 700 bushels. The market final
ly declined with wheat. September opened
1s0Ac lower at 2715c TO 267so sold at 267s
@2714c and closed with sellers at &c.
Oats followed slowly after corn. and the
market was void of features. September
opened unchanged at from 171ad173sc, sold
to 17$s0173ic, back to 1712G175sc, and closed
with sellers at the low price. The cash
demand was steady. Receipts were posted
at 274 cars. 81 of which graded No. 2. Ship
ments were 5000 bushels.
Provisions opened easier and continued
steady throughout the session. At the close
pork was sc lower for the day, lard 21AQ5c
lower and ribs 212c lower Business was
without especial feature outside of the
downward tendency of prices. The days
run of hogs was 27000 and prices were sc
lower. September pork closed at 1910. after
selling at $780, lard closed at 415c; ribs
at 4.60c.
Estimated receipts for tomorrow:
Wheat, $50 cars: corn, $50 cars; oats, 2S5
cars: hogs, 600 head.
Leading futures ranged as follows: