The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-08-22
SPRING CROP MOVEMENT
HEAVY DELIVERIES THREATENED
AND TRADERS UNLOAD.
September Wheat Loses 1 1-2c and
Corn and Oats DecIine--PrOvisiOns
Score sympathetic Losses.

CHICAGO, Aug. 20.-Threatened large
movement of spring crop inoculated traders
In the wheat pit to-day with the selling
virus and prices declined sharply. Septem-
Der closed 112015sc lower and December lost
tsc Corn declined &c. Oats are down 1sGAc.
Pork left off 10 cents lower; lard 21ac and
ribs lOQl212c lower. Wheat traders had
nothing except bearish news to begin with.
but the opening prices were a shade higher
than were current at last nights close.
The apparent strength was of short con-
tinuance, prices for the active futures get
ting TO IL cent below the highest notch of
the opening in about ten minutes and &c
under Fridays closing price. The influence
ing factors were both of foreign and domes-
tic origin. Quotations from Liverpool were
| I'D down for September and ssd for Decem-
ber The Italian crop was estimated at from
! 1160O0,0O0 to 12OOO0OO0 bushels, compared
with 100000 the previous season. and the
| French crop at 800, 100000 bushels at least,
after allowing for some disappointment in
previous expectations. The most striking
| item Of news from domestic sources was
that Minneapolis and Duluth received ABS
cars against las the preceding Saturday and
| 243 cars the corresponding day the year be-
| fore. Chicago got 156 carloads, only Is of
ago 219 cars came to hand here. The de-
| mand from the seaboard for wheat for
prompt shipment from here was less urgent,
but business could have been done in No.
2 hard and No red had the grain been
ready for immediate loading, but so par
ticular was the buying in that respect that
| Monday loading was refused. The spring
wheat market was very unsettled in the
| car-lots crowds and much of the day re-
! ceipts being tough and damp, it was difficult
| to get buyers to make any kind of re-
| spectacle bid for such. Low grade red win
ter was equally demoralized. That condi-
| ton of affairs added to the bearish feeling
already existing, and as the Northwestern
markets were also very weak, the futures
were boldly pressed for sale, more espe-
cially September, the other active future,
December, being comparatively steady.
! September opened unchanged to &c higher
at 65@651sc, and had quick break to 645sc.
1t steadied for a little while around those
| figures. then broke to 63Ac and closed at
633s@ 631ac. December began from un-
| changed to &c up at from 62ssc to 631sc,
dropped to 6lAc, and firmed up to &c sellers
at the close.
| Continued fine weather, a slow shipping
| demand and the weakness in wheat had
bearish influence on corn. The tone of the
market was easy, although December in
creased it's lead over September slightly, as
| the result of rather extensive changing
transactions, commission houses taking De-
cember and selling the nearby delivery.
| September opened unchanged to &c up at
S013Q3O5sc. gradually declined to SOc and
| closed at 30Mc
| Oats again demonstrated their ability to
| follow corn Trade, however. was very
| light and for this reason prices showed only
| the slightest fluctuations September oats
began unchanged to 1sc higher at 1880, and
| sold off to 1890 the closing price.
An advance in prices for hogs at the yards
| favored provisions at the commencement.
| Prices soon yielded however, under press
sure of offerings from buyers on yesterdays
break, who were disposed to accept what
profit they could find September pork
started Toe higher at 1920, sold off to $S.921s,
and closed at $S:95. September lard opened
| unchanged at $5.521a, rose to $5.2212G5.25, and
| declined to IS 10. the closing figure. Sep
| TENDER ribs began 5@71ac lower at $5.15, and
| weakened to $50712. and firmed up to $50
| at the close.
| Estimated receipts for Monday-Wheat,
| 125 cars; corn, 700; oats, 500; hogs. $4,000
| head