The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-08-24
WHEAT STARTED FIRM
AND BETTER PRICES OBTAINED ON
IMPROVED EXPORT DEMAND.
Small Part of New Receipts Up to
Contract Grade-Other Grain High
err, with Pork Unchanged.

CHICAGO, Aug. 23.-An improved shipping de-
mand for the cash article to-day advanced the
price of futures in the wheat pit. September
closed &c higher and December gained CSC. Corn
left off 1zc up and oats rose &c. Pork is
changed. lard advanced 5Q7l1c and ribs sc.
Wheat started firm at about yesterdays closing
figures. became easier for a minute and
then became comparatively strong and kept on the
rise for hour. At the end of that time
September had advanced to 63&c. as compared
with 6Slsc bid at the close the day before. De-
cember did not follow September farther al that
time than to the extent of 15c. reaching 62lsc
when September 63lac and going no higher
during the latter's further Nc Improvement 1t
was evident from that the extra strength in the
nearer delivery proceeded from some slight mis-
givings to the suiciency of receipts in the
future. Chicago received 259 cars. compared
with 3S4 year ago. Only one of to-days
ceipts good enough to be inspected contract
grade. but it will, of course, be the interest,
pleasure and duty of the elevator people to scour.
blow and polish the remainder until it shall
please the fastldous taste of the inspector.
Primary Western receipts. all told amounted to
1000 blu, against 979. 900 the same day of last
year. Bradstreet reported the worlds visible to
have decreased S49s 900 bu and just previous to
that announcement it became known that large
business had been done in spot wheat for prompt
shipment. About 100000 bu No. 2 red was dis
posed of at 4c in store here above September
prices. The cash business and Bradstreets state
ment together caused an advance of September
637sc. but December stuck when it got high
as &c ON the last-named bulge in September,
London reported hardly any demand for cargoes
passage and Beerbohm's estimated require
nents Of importing European nations at 5000, 600
bu a week, against 5000, 900 last year The firm
ness of the cash market. however, had the great
est influence with traders. who. for the most
part, inclined to the buying side September
opened unchanged at 63c, declined to 62B@63c.
ed unchanged to &c higher at 61%@61Ac, weak
ened to 61k@615sc, advanced to 621sc and closed
at &c
Reports of deterioration to the condition of the
crop from the effect Of the extreme heat
strengthened corn. September opened 1s@ssc
higher at 29a@SOc, declined to 295sQ29%c and ad-
vanced to 9OBc, sellers, at the close
Oats ruled steady in sympathy with the other
grains. There little business done and the
range narrow. September began sc up
1910, weakened to 195s@19Ac. advanced to 1880
and closed 1870.
The strength of the grain markets kept scalrers
in provisions from selling and there pres
sure from other quarters. September pork opened
sc down at $3.50 and sold up to 1886. the closing
figure. The range in lard and ribs was inconse-
quential.
Estimated receipts to-morrow-Wheat, 100 cars;
corn. 400 cars; oats, 290 cars; hogs. "a. 900.
Leading futures ranged folows