The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-13
LITTLE LIFE TO WHEAT
LIGHT WORLDS SHIPMENTS WAS
THE SUSTAINING INFLUENCE,
Small Advance in the Leading Cereal,
and other Markets Followed
After in Sympathy.

CHICAGO, July 12.-There was very little
life to any of the grain and provision mar
kets. Light worlds shipments were an i'm
portant sustaining influence in the wheat
market. The other markets simply fol-
lowed the lead of wheat. At the close
the following changes were recorded:
Wheat, 3sQ12c higher; corn, 1sc higher oats
a shade higher. Provisions. the only minor
market showing any independence, closed
212c higher to &c lower
OF wheat it may be said that the market
has fallen into the usual midsummer rut.
The opening price for September to-day
was from 6514c to 657sc, a shade under Sat-
urday's close, and up to II o'clock the
range had only extended from 651zc to $3.50.
The news was rather contradictory. Liv-
erpool opened weak and decidedly lower,
new wheat was appearing more literally in
the leading markets, while there was very
little appearance of foreign buying orders.
The worlds shipments however, had
bullish tendency, as the amounts shipped by
the various countries last week aggregate
only 900 bu, as against 615I000 bu
the week before. The visible supply report
was also bullish, as it showed decrease
last week of 974000 bu, where there had
been an increase the corresponding week
last year of q 900 bu The receipts at Chi
cagO since Saturday were only nine car
loads. of which five We're new winter of
various kinds Minneapolis and Duluth re-
ported receipts of only 2S4 cars, against 4S1
the corresponding day Of last year. Kan
sas City advised the receipt of l22 cars of
new wheat, which was the most bearish
item Of the forenoon news. The govern
ment report issued Saturday did not seem
to exert much influence, although the indi-
Gated crop was nearly lJ0,0OO0OO bushels
less than what some of the private bureaus
have reported. The market touched $3.50
65Ac late in the session, but became firm
again under covering by shorts and sold
up to $3.50. 1t reacted to 65AQ657sc, which
was the price at the close. Speculative
business in corn was much smaller than of
late and operations were largely of a
scalping character with narrow fuctua-
tons The tendency during the morning
was moderately downward on the generally
favorable crop prospects
Local shorts covered on the late rally in
wheat, a firm feeling prevailing at the
close Local receipts were GAS cars Sep
TENDER opened shade lower, at Z6@sH2612c,
sold at 269sc declined to 263sc, and rallied
to 265sc, where it closed.
Wheat ruled steady on light amount OF
trading. There was good visible decrease.
The visible supply is now 100000 bu less
than a year ago, and this fact was the
were 2S4 cars September opened q shade
higher at 1S1kQ1S4c declined to 17sQ1Sc,
and rallied to 1SA@1S12c, which was the
In provisions the consideration was the
enormous hog receipts, 1900 more hogs
than expected. This caused a very weak
opening and liquidation from all sources,
resulted in further losses The market
rallied later, however, when the
grain markets showed Improvement.
At the close September pork was
212c higher at $7.5212; September lard DC
lower, at $3.50, and September ribs about
212c lower, at $432l2
Estimated receipts on Tuesday-Corn,
7 dino futures 70 noad aS follows.