The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-08-31
CORN WAS THE LEADER
ADVANCE AT CHICAGO IN FACE OF
MISUNDERSTANDING RECEIPTS.
September wheat Went OF lie on
Big Holders Changing TO Decem-
ber-Provisions Higher.

CHICAGO Aug. 9O,-Corn was the lead
ing market on Change to-day. 1t closed at
a 1bc advance something remarkable, in
view of the enormous receipts September
wheat was radically weak on the almost to-
tai abandonment of their lines of that OPP
ton by the heaviest holders and the taking
of December. September wheat closed 312c
lower. Oats and provisions were both ben
Gifted by corn, oats advancing sc and pro-
visions SOPHIE
The grain movement into and out of Chi
cago the past forty-eight hours is record
breaking. Exactly 5,065 cars Of all sorts
were received, including 1856 cars of corn.
Shipments aggregate 2, 400, 900 bushels of all
kinds, including $4,000 bushels of wheat.
1,6660O0 bushels of corn and over 100000
bushels of oats. The receipts in bushels
We're: Wheat 1850; corn, 1,244,O00; oats.
55S,OOO. The remainder was rye and barley.
Wheat started rather weak. Liverpool
opened with d decline of %d and made a
further drop of a4d, or 11ad in all, before
the business of the day commenced here.
Paris was reported as showing the equiva-
lent of Ac per bu advance at the opening,
but the Liverpool decline received the
greater consideration and caused December
wheat to open here at a decline of 1Q1Ac
We're already short and was seized on as a
good opportunity to secure a quick profit.
Some bulls, also, who had sold out the week
before took on new lines, and the result WAS
a gradual Improvement. December start
ed at 6S94QS9c, or 1@1Ac below Saturdays
close, and advanced to S9Ac, when a heavy
decrease in the visible was announced. This
caused renewed buying, the price reaching
9U94c for a moment. Following that came
the closing cables, which showed material
declines at the chief foreign markets. This
created revulsion of feeling and by 80
clock the price was back to 8915c The
decline for the day at Liverpool was from
lAd to 212d per Genital. Paris showed q
franc, or &c, a bu decline for August, but
an advance equivalent to Zee bu for No
Vember-February Antwerp declined 62h
centimeS, 312c, a bu. These declines plI1
quletus on the rather alarming statements
or crop damage put forth by various for
elgn authorities notably the Austrian min
lister of agriculture. Chicago receipts We're
545 cars. AT Minneapolis and Duluth 524
cars were received, compared with S39 on
the corresponding day of 1886. The clear
ances of wheat and -four from Atlantic
ports since Saturday, inclusive of those
from New Orleans and Newport News
amounted to The unusually heavy quantity
OF 100000 blu, of which $50, 000 blu were in
shape of wheat. The visible decreased l.
900 blu, and the total is now reduced to
15,47300 blu, against 1854, coo bu a year ago
The worlds shipments to Europe last week
aggregated 7,453000 blu. The English WISH
bic decreased 1885, 900 bu. The amount on
ocean passage increased 1850, 900 blu. One
pronounced feature of the market was the
almost complete abandonment of September
wheat by the parties who held by far the
largest line of it. The dumping of Sep
TENDER for December commenced at the
opening and within an hour the 21ac differ
ence which existed between the two options
Saturday had disappeared and the eager
ness with which exchange was made at
nn fCrI1pn rHYnHn ~ mol -
weakness and ultimately put the price of
September below December figures. The
market ruled dull during the closing hour
with December lowering around S912c. The
closing prices were $3.50 for December and
S9c for September.
Corn was a very active market. With the
exception of slight feeling of nervousness
at the opening the market was astonishing
ly strong, considering the receipts of 1855
pie led the buying and reported a general
falling off in country acceptanceS, farmers
evidently holdipg back for better prices.
scalping shorts. Only slight traces of rain
were reported from the corn belt, and
drought damage claims were numerous.
The visible supply increased 5917, 900 bu.
Clearances were 404 900 bu. December opened
1sc lower at 31@3112c. 1t advanced to 32Ac
and closed at 3215c.
The bulk of the business in oats was in
the way of exchanging. Fluctuations were
ruled almost entirely by corn, and the ten
dency, therefore, was generally upward. Re-
ceiptS We're large-7o1 cars. The visible sup
ply increased / ,254, 900 bu. December opened
Unchanged at 1890, advanced to 203sc and
closed at 201c asked.
Provisions started weak on the break in
yard prices and liberal hog receipts. The
opening decline, however was slight, and
sharp advance soon took place, which was
undoubtedly caused by the strength of corn.
A feature was buying of September pork
and lard by the Cudahys and the sell
ing of October and December by the same
people. Closing prices were close to the
best of the day. At the close December
pork was 1212c higher at $9O214, December
lard sc higher at $4.95 and December ribs
TIC higher at $50
Estimated receipts for Tuesday-Wheat,
500 cars; corn, 1900 cars; oats, 900 cars;
hogs, 5000 head.
Leading futures ranged as follows: