The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-08-05

CHICAGO, Aug. 4-The foreign demand
for American wheat to-day took on the
appearance of panicky apprehension of in
adequate supplies. Exporters reported
sales of about 1900. coo bushels here and at
the seaboard. This market CLOSED 11bc high
err. The advance was checked by the mar
keting of a long line, estimated about
100000 bu. Liverpool advanced an equiva-
lent Of 2Ec; Paris. 25sc, and Antwerp, 4c
per blu. Corn yielded &c per bu on timely
rains west. Provisions were active, adj
vancing 171&025c, the latter in pork.
1t was again an advance at Liverpool in
wheat that supplied the motive for a fresh
rise here at the start. September, which
yesterday closed at TIC, opened ~irregularly
at from 77Bc to 7715c, the offerings at the
lower quotation being %triaing, however, and
very little changing hands below the higher
figures. Those were quickly added to by an
energetic jump to Use. 1t dropped again
suddenly to 77Sc and as quickly rose again,
this time to 7SAc. The Liverpool advance,
before trading started here, was 2Ad per
Genital, or about the equivalent of 2%c per
bu. The great export business done yester-
day and numerous ~acceptances of cargoes
and smaller parcels ordered by cable yes
terday afternoon from Chicago and the
seaboard was, of course, an element OF the
influences at work that created the early
strength. The feverish fluctuations at the
same time gave an exact Interpretation Of
the unsettled feeling among the spectators.
The price had another break to 1850 before
the expiration of the first hour and a half
of the session and a rally in the following
twenty minutes to 77zsc. Germany ac-
cepted everything offered last night and
the United Kingdom bought what No. 2
Chicago spring had been offered. It was
still claimed, however, that seaboard ex-
porters were having much trouble in get
ting the Kansas hard wheat they had al
ready sold to go abroad. The Chicago re-
ceipts were 1876 cars against 144 cars a year
ago, of which 1875 were new. Primary
Western market receipts were ZIG, $50 bu
against 539, 100 bu the corresponding day of
1896. Tn clearances for export from the
Atlantic ports were very liberal, the
wheat alone being 49, 22 blu. The amount
of export takings reported from New York
had by u o'clock swelled to 100 boatloads,
and 20 loads or 100000 blu were reported
from here direct. The latter was No. 1
Northern spring and No. 2 spring. The lat
ter grade sold in considerable quantities be-
tween local dealers at premiums over Sep
tember price, ranging according to location
GN 0NNA NPAANJ vi Od1lE1C 1IOIu AC 10 lIoC
per bu. AS an indication of the demand
still existing among country millers for
spring wheat, it may be mentioned that
one carload of No. 1 Northern brought SC
per bu premium. The latest sensation in
the shape of market information was the
closing quotations from foreign markets.
Liverpool wound up with a gain for the
DAY equal to 212c per blu. Paris had 25sc and
Antwerp 4c per bu. Prices reached the
highest point Of thu day near the close,
reacting only Ac. September opened 1AQHc
higher at 771@c, sold between 76AQ7SAc and
closed with buyers at 7S1ac.
Rains in Kansas, more particularly. but
also in other important sections of the corn
belt where moisture was needed created a.
general desire to sell out long corn. 1t
came out in great chunks; 100, 600 Blu lots
were being offered nearly ali forenoon and
$4,000 and 25,WO blu lots changed hands free
Iy. Although the price broke materially it
was a matter of remark how small the de-
cline was in comparison with the immense
quantities disposed of. Country offerings
were very heavy, because of the improved
prospects for the crop, owing to the gen.
eraI rains. The elevator folk who are in
close touch with the country dealers were
the freest sellers. Receipts here were $50
cars and the quantity inspected out of store
was $500 bu- Atlantic port c-learances
were heavy at $685. 11 bu. September opened
z2QAc lower, at 2S1sQ2Sasc, sold from 2S%c
down to 27hq27asc, advanced to 2S1sc in
b{idmp"'nS with wheat ana closed at 2S'So
Oats opened heavy with corn. Prices fell
off a shade, but recovered later under good
buying by shorts. September opened B0Ac
lower. at from 17BW17Ac, sold at 175sQ17Ac
and then advanced to 1Sc. AT the close
I7B418c was bid, Cash oats were steadily
held. Receipts were posted at 46 cars, Of
which IA were new. Seaboard c-Iearances
were 200, 600 blu.
Provisions opened strong and higher, but
became easier for a time and then once
more started into activity and increased
strength. ArmOur'S name was given up near
the middle of the day on a considerable
amount of lard and ribs that had been
Fought earlier and it was the signal for
a general demand that started and lasted
throughout the remainder of the session.
A private estimate of the worlds stock of
lard, showing it materially lower than a
year ago and reduced 5000 tierces for the
month of July, was regarded as a hopeful
sign. The days run Of hogs was $4,000
head. September pork opened 5010c higher
at $S.10dS.15, sold between $S.050S.32 and
closed with sellers at $3.50. September lard
opened 22Q5c higher at $4.40Q4.4212, sold be-
tween SAT- and $4.55 and closed with sellers
at $4.55. September ribs opened sc higher
at $4.S5, sold between $4.S21a and So and
closed with sellers at $4.971a.
TINA receipts for to-morrow-Wheat,
175 cars; corn, $780,; oats, 500; hogs, $4,000
head.
Leading futures ranged as follows:
Open High Low Clos
Articles. ing. est. est. ing.
wheel Con4 rTTL rCqf e voty