The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-16
WHEAT CLOSED HIGHER
STRONGER MARKET ON SMALL
AMOUNT OF NEW GRAIN COMING IN.
Liverpool Prices Were Up and Chi
cago Gained L 1-4c-Other Grain
LOwer-PrOvisiOnsA Advanced.

CHICAGO, July 15.-Wheat to-day opened
at a 5sc advance and added another sc TO
the price before the session was over 1t
was the same story of strong cables and
light new wheat arrivals Soft spots in the
market were few and far between. The fine
weather was too much for corn and oats,
declines of about 1sc being the result of the
days trading in those staples. Provisions
closed at a small advance all around
In wheat the Liverpool market again sent
higher quotations, as much as 11sd per
GENITAL advance before trading started here.
That was the principal reason for Septem-
Der opening SAC over the closing price of
the day before. Another element Of strength
was found in the receipts of new wheat,
which were again phenomenally light. To-
day Chicago got only five cars of the new
crop, against 240 cars the corresponding day
of last year, and St. Louis receipts were
only $4,000 bushels against $1,000 bushels
year ago to-day. Since the LIST of July Chi
cago has received in the aggregate only
eighteen cars of new wheat, against / 252
cars the corresponding time last year. Sep
TENDER opened at from 679sc to 67s4c and
did not sell below those figures until after
nearly two hours trading, and meantime it
sold lp to CSC Business in September was
good, but confined largely to the operations
of the local scalpers and spectators. Min
neapolis and Duluth received $50 cars,
against 2S2 a year ago. The aggregate of
the days receipts at Chicago, ST. Louis, To-
ledo, Detroit and Kansas City was 81, 200
bushels, against 256 900 bushels last year.
New York export houses had acceptances
from the United Kingdom OF offers cabled
last night, and houses here that do a for
eign shipping business had their limits for
cash business raised to-day from 1c to 11ac
per buShel The Atlantic port clearanceS
We're equal in wheat and flour to 277,WO
bushels. After September had reacted from
Csc to AU673sc and had assumed for a
while an appearance of heaVineSs it turned
around and went up once more with a rush
to Csc, and its impetus was such that it
went to 6S1sc, or 1sc over the previous line.
The buying of seed wheat for Argentina at
New York and a cah1egram reporting firm
ness of Russian markets and small offer
ings from the interior contributed to the
strength which the market displayed in the
last hour of the session, and closed it up
with snap at 6SAc, the top price Of the
day.
Corn was exceptionally dull all day. The
market, with the exception of a few min
utes after the opening, when a little
strength was shown in sympathy with
wheat, was weak. Fine weather and lib
eral country offerings caused more liquida-
ton than the dull market could stand, and
prices gradually slid off. The final bulge in
wheat caused some recovery. Local re-
ceipts We're 4S6 cars. September opened 1sc
higher at 269sc. declined to 261sQ26Ac and
reacted to 263sc. where it closed.
The market for oats was slow and with
Jul INDEPENDENT IHdluIOS, prices lOllOWllS
closely the fluctuations of corn. There was
considerable selling for country account. A
poor export demand was reported. Local
receipts were 294 cars. September opened
shade higher, at 1S1sQ1S14c, declined TO 17a4c
and reacted to 177sc, which was the closing
price.
Provisions were strong early on the light
hog receipts and improved yard prices A
decline followed on selling by packers and
covered substantially, the best prices of the
day ruling at the close. The cash trade
was the largest in a number of days. At
the close September pork was sc higher, at
$780, September lard 212G5c higher, at $392K
1885, and September ribs sc higher, at
$4.3212.
Estimated receipts for Friday-Wheat II
cars; corn, APO cars; oats, 295 cars; hogs,
20, 00G head.