The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-31
WHEAT ROSE PIP CENTS
ON BULLIsH FOREIGN ADVICEs. BUT
DROPPED ON HEAVY REALIZING,
And Closed with a Net Gain of Only
Slightly Higher at Chicago.

CHICAGO, July 30.-Bullish foreign news
predominated over big receipts in the wheat
market to-day and the price of that cereal
at one time showed an advance from yes
terday of 2Ac. Heavy realizing by the bull
clique in both July and September broke
prices 112c from the top and reduced the
net gain for the day to &c Corn also suf-
fered from liquidation, but closed 1sc high
er. Oats were unchanged. Provisions were
moderately active and gained 3d10c
Wheat commenced with great demand for
September at from 74c to 1859. Very little
was secured at 74c at the opening During
the following two hours the price advanced
to 7478c, reacted irregularly to 749sc and rose
again about II 20 to the former highest
point. The trade in the pit during the time
of these fluctuations was both active and
heavy. The Liverpool market was firm, and
Paris strong. New York wired early in the
day that the continent was buying wheat.
and Liverpool selling it. Cabegrams said
the continent was having heavy rains, and
as the wheat harvest is III progress, that
was construed bullishly. The receipts here
were 231 cars, $50 of which were new and
10000 bushels were inspected out. Last
year the total number of cars received was
49, of which 1872 were new. Minneapolis
and Duluth reported 301 cars, against 2S9
year ago. The primary market receipts
amounted to $4,000 bushels against $685. 600
bushels on the corresponding day of the
year before. Kansas City receipts to-day
were 1900 bushels; a year ago they were
SO, 000 The clearances from the Atlantic
ports were equal in wheat and flour to 1885,,
600 bushels. Great preparations are, how
ever being made for forward shipment aC-
cording to the New York advices where it
was sad forty steamers ndQ been chartered
yesterday, having a capacity of four million
bushels, TO load grain at the various At
lantlc shipping ports. How much of that is
for wheat was not specified. The late cable
grams reported SUCH surprisingly strong
markets at Antwerp and Paris that the
former good demand for September wheat
was largely added to and the price rose
rapidly about noon-the time when those
caDlegrams were received-from around
7434c TO 1874 075%c. Antwerp showed adj
vance of 3I12 confines for American red,
which is equal to &c per bushel. Paris, for
near delivery, was higher by 22sG
for the November February term.
New York reported IS boatloads sold for eX-
port and $4,000 bushels spring was taken
the offerings grew amazingly large, and
September dropped with thud to 14Ac,
railyng only 14c. The big bull interest in
July, which has been the subject of much
speculation, was announced as finally closed
to-day the last holdings having been
dumped on the swell 80 IoAc. Plenty OF
September wheat was also thrown over
September wheat opened 3sQAc higher, at
74Q743sc, sold to 74tsc to 1855 up lrTegn-
larly to 75a4Q751sc, down to I4Ac and closed
at 1412c, a net gain of Hc.
The trade in corn was very heavy and
the market strong until within thirty MIN
uteS of the close. Some Few senSatlonally
large transactions were made which attract
ed considerable attention. One firm bought
and another sold in one lot 1000 900 bushels
and in another lot 100000 bushels. The de-
mand was because of widespread belief in
considerable damage to the crop IN Kansas
and Nebraska, but reports from these
States the subject were very conflicting;
The Liverpool market was Ac higher, and
engagements for shipment east from mere
were said to be very heavy. September
started about 1sc higher, at from ZI2sc TO
27%c and kept gradually rising until about
an hour from the close, by Whlcn t1me IL
had reached 2S0281sc. From that it fell off
gradually to 279sq2fAc and closed at 2t24c.
Receipts were 1850 ears. Seaboard clear
ances were Hght-63,447 bushels.
did Prices covered a slightly higher range
during the greater part of the session, Dut
fell back toward the close and finished just
where they did yesterday. september
onened unchanged at 1734c, touched 179sc
and sold up to 1Sc and back to 119sUll4c,
which price was bid at the close. Receipts
were 1893 cars. Withdrawals from store We're
"a 900 bushels. ClearanceS from the sea-
board. 10000 bushels.
Provisions ruled strong, and trade was &C
tive on run of 10000 hogs, at an advance
of 1Oc New York was reported to nave
sold ribs to some extent and the English
houses were steady buyers. September pork
opened 212d5c higher at $3.50, ADVANCED TO
$795 and closed 10c higher, at $i.9O0I92
81 271b, and closed at $4.32 an advance OF
Ic September ribs opened &C higher at
"a 72d4 u.s. advanced to $4.75 and closed with
sellers at the opening price. 1,-,.
Estimated receipts for tomorrow: w neat
1853 cars: corn, $40 cars; oats, 1855 cars; hogs
16,0 600 head