The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-09-03
WHEAT RANGED HIGHER
STRONG CHICAGO MARKET. DECEM-
BIER SCORING A GAIN OF 1 $50.
Hammered Back from csc to "a lie
Provisions Went OFF.

CHICAGO, Sept. 2.-Wheat to-day added
15sc to the value of September and 11scto
the September delivery. The market was
strongly influenced by the sharp advances
in foreign markets, and both of the prom
inent futures sold well above 96c for
time. All the other markets were strong
early, but yielded later in the session and
wound up with declines of sc in corn, Ac
in oats and 2l5d10c in provisions
Wheat was very strong at the opening
The early cablegrams-those received here
before the days business in the trading
pits commenced-were of a sensationally
bullish character and sufficiently explain a
jump in price of December to CSC and 95Ac
at the start, yesterdays closing price hav-
ing been $3.50. In about thirty minutes 96c
was being paid for September and at the
same time May was wanted at 9634c with
out sellers of more than one or two thou
sand bushel lots answering even such an
advance over the 1880 it was selling for at
the close the day before. The Liverpool
dispatches described that market as open
ing strong and excited at from 39sd to 4d
over the previous days quotations. Eng
lish country markets were Is per quarter,
or &c per bushel higher. and Paris showed
an equal advance for September delivery,
the quotation being 60 centimeS up,
which is the equivalent of &c per bushel.
OF course, after q 312c per bushel rise here
yesterday, with a further addition of 25sc
in the first hour to-day, there were numer-
Gus people who had handsome profits too
tempting for refusal and their selling was
the principal feature of the trading the
next half hour and in consequence of which
December reacted from 96c to S41ac, and
September from 9634c to 95c sellers. The re-
ceipts here were 226 cars, of which only 16
cars were contract. The quantity in
spected out of store was 1000 blu. Mime
apolis and Duluth reported 314 cars, COM
pared with 557 cars the corresponding day
of the year before The total receipts for
the day a primary Western markets were
1881 bu, compared with SO 57S blu the cor
responding day of the year before. Allan
tic port clearances were $4,000 bu. Closing
Paris cables were rather nSational, show
ing an advance in September equivalent to
Csc per bushel and November and Feb
ruary 4Kc per buShel. What bullish effect
this had, however, was rather discounted
by seabOard advices reporting few foreign
acceptances. But when closing Liverpool
cables were received showing no falling off
in the previous advance, buying was re-
newed here and sent the price of December
on another climb. 1t reached 96Ac on that
swell and September brought 9615c at the
same time. On the last advance, as on that
preceding it, the price bumped against
spring that released flood of long wheat
that crushed it down again with as much
force as before, 94l2c being once more cur
rent near the close. The principal bull
crowd bought moderately on the declines
and sold heavily at around 9534c and better.
Closing quotations We're September, Soc,
and December, size.
Liquidation was the feature in corn. The
market opened strong, helped by wheat
and indications of cold wave West and
Northwest and from the millions of long
corn sold, prices were we'll maintained
during the morning. Offerings ultimately
proved too large for the market to absorb,
however. Receipts were. very large, LOLA
cars, and counted against the market. The
Price Current reduced it's crop figures to
ported through the corn belt and more
were promised for tomorrow. Charters
were for 926, 600 blu. December opened 40
3sc higher at 3312c, ranged between 1884 and
32S4c, closing at 32$4q337sc.
Trade in oats was unimportant, as has
been usual of late, void of Independent fea-
lures, the markets influenced generally by
the action of corn. Elevator people were
prominent sellers. Receipts were 318 cars.
May opened 14c higher at 21c. sold at 211sc,
2Oasc and closing at 20asQ20l2c.
There was a good trade in provisions.
There was some disappointment over
provision stocks, the decrease not
Longs were large sellers of lard
and ribs, presumably profit taking. Prices
opened strong with grain and higher live
stock market, but declined gradually.
Packers generally were sellers. At the
close December pork was SC lower at $9.02L2,
cember ribs unchanged at $50. September
and October ribs, however, show 10c de-
cline.
Estimated receipts for Friday-Wheat,
$50 cars; corn, 1900; oats, 400; hogs, N,OOO
head.
Taading futures ranged as follows: