The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-30
WHEAT CLOSED HIGHER
ADVANCE OF 1-4C ON TIE CHICAGO
BOARD OF TRADE YESTERDAY.
Nearly All the News of BuIIish Char
Provisions Active and Strong.

CHICAGO, July 29.-Markets were gen
orally strong on the Board of Trade to-day.
Wheat opened buoyant, and, after an inter-
vening weak spell, closed 1Ac higher Corn
gained sc and oats 1sc. Provisions were
fairly active and higher. Pork gained 12Jbc.
lard 10c and ribs &c.
The Liverpool wheat market opened
steady this morning in the face of Chica-
COS decline the day before. That, with a
continuation of firmness at Paris and the
large export purchases yesterday swept
away the bearishness that had overcast the
last hour of the previous session. Septem-
Der opened from 7314c to 1880, a rise of
about 1c per bu. A good deal was offered
at the advance for a minute or two, but
when, about five minutes from the start,
the price touched 1880, sellers became
scarce all at once, and the price was rushed
up to 7312c. A cablegram from Paris esti-
mated that France would have to import
100, 900 bu of wheat this year. New York's
message was to the effect that exports
of wheat yesterday would amount to one
million bu there and two hundred thousand
blu at outports, meaning, probably, for va
rious dates Of shipment this fall. A sale of
10000 bu of Kansas hard wheat for export
was also made here yesterday. All these
matters became known shortly after the
opening, and taken altogether, appear
quite sufficient to explain the strength of
the early trading. Chicago receipts were
172 cars, of which 116 were new. The Mime
apolis and Duluth receipts were 81 cars
against 317 the year before. Total receipts
at primary markets were $4,000 bu. COM
pared with SO, 900 bu last year. The excess
OF the primary market receipts is not very
great, considering the estimated much
larger crop TINS year, but such preponder-
ance as there is this season is ali the bears
nave to sell wheat on What good use
they can make of poor weapon was seen
in the decline which occurred in about an
hour and a half from the start. The price
OF September dropped at that period of the
session TO 729sc, and July, which sold as
high as TIC, tell to 75$4c. The market was
steadied at the decline by New York tel
egramS saying that twenty-five boatloads
offered to the continent had been accepted
81 Louis wired to the same effect, an eX-
port house there reporting all accepted they
had offered to the continent. Reports from
the Northwest were more hopeful about the
spring wheat prospects. A message from
North Dakota said the water on the fields
was fast disappearing and the wheat pros
poets improving The Price Current eSti-
mated the spring wheat crop at 225,000000
bu and the winter at go, 600 blu, making
the total of 5500O0,00O blu. New York in
creased the quantity taken for export TO
sixty boatloads. The buying fever broke
out afresh, and the high price of the seS-
sion was paid near the close. An advance
sage from that point were being talked of
during the closing squirt. /September opened
7sc higher at 734c, sold at 7312c off to 129sc
bid.
Corn opened firm with wheat but there
was undercurrent of confidence in pres
ent prices quite independent of the wheat
market. The crop is not making satisfac-
tory progress in some important growing
sections. ana it was from those places that
the kilograms referring to the progress of
the crop principally came. The Price Cur
rent reported the general prospect I'M
changed since a week ago. OF the Kansas
crop, taken as whole some Well-intormed
people believe it to be giving promise of
as good an aggregate yield as on the year
before. The receipts We're ISL cars, and the
quantity inspected out of store 100000 blu.
1874, 600 blu. September opened 1sc higher at
271sc, and gradually gained strength until
it reached 273sq2712c; It fell back bqAc
with wheat near the close, advancing to
279sc, and closing with sellers at that
The market for oats was without impor-
helped the firm feeling which existed. Sym
pathy with corn however, was the most
influential item. September opened UNI
changed at 1850 to 1712G175sc, sold up to
ceipts were 1873 cars.
Provisions were firm on a very moderate
amount of trading Sc )tember pork opened
at $7.721a an advance of 21aQ5c, and later
rose another &c and near the close added 212c
more. The days gain was 1212c. Lard for
September started at &c advance, $40 being
to $425, and that was the closing price.
September ribs opened 212c higher at I6212
bid 1t touched A60d46212 a few moments
later, and after that rose to 465 The
closing price was S4.671a, the last 21ac being
added as the session was coming to an end.
Estimated receipts for Friday - Wheat,
256 cars; corn, LIS cars; oats, 3S9 cars;
leading futures ranged as follows: