The Indianapolis journal., 1898-09-02
CORN WAS THE LEADER
URGENT DEMAND FROM SHORTS
SENT PRICES UPWARD.
Wheat Fully SympathiEed with Firm
Provisions Closed Higher.

CHICAGO. Sept. bad crop reports from
the sympathies CT traders in wheat and was the
principal reason for an advance Of ssG1&c At the
close December showed advance OF 40
&c. Oats unchanged TO sc higher. Pork
advanced 7I1c, lard 21sc and ribs 5G7jzc.
rather urgent demand from shorts just at
the opening. owing to continued hot weather and
lighter receipts than expected advanced the price
of corn sc over the close of Wednesday on the
initial transactions. The condition of the crop
in Nebraska. however appeared to be the chief
consideration with traders. Kansas corn was In
as bad or worse condition than that in Nebraska
but the trade here had already accepted the dam
age reports from Kansas and did some buying
because of them during the last short bull cam
paign 1t needed another big State to be
heard from discouragingly to its crop prospects
to thoroughly stir up the bulls. Nebraskas great
disappointment compared with her early pros
poets for a big crop came opportunely and was
the chief incentive to the buying. The market
had no decided setback except Immediately fol-
lowing the opening and again after December had
risen &c above the previous days closing price,
whence 1t had NC reaction. December opened
hQ3sc up at 31dS1lsc. declined to s0kG3Ossc. i'm
proved to S1hc. then reacted to S1Q31hc at tie
close.
Chicago received 1893 cars OF wheat, ags rst 2zs
expected The weather was hot and considered
unfavorable for and that article was stio ng
at the commencement of the session There VAS
a general feeling of confidence expressed on the
curb that under present circumstances Decent er
wheat was low enough. In consequence the open
ing trades were at about <c Improvement ever
closing prices of last night No wheat had teen
rendered on September contracts before The open
fp0 faot
slightly bullish tone with which trading stared
On the other hand Liverpool came h@sd lever
Minneapolis and Duluth receipts were a62 ctrs
compared with S14 the corresponding day a year
ago. Corn began to drop a few sixtesa.hs
of its early advance and that, with the decline at
Liverpool and Northwestern receipts, had to re-
ceve the consideration 1t was entitled TO Al the
hands of the wheat specua -ors. AS a result ii e
small advance at the start lost Business
was small and the heat was too oppressive for
anyone to mix in the sweltering crowd vhlca las
not had order very close to the market Iur-
ing the last part of the session corn grew strong
again and wheat responded sympathetca,iy. lie
aggregate of the days primary Western MARI ct
receipts was 10260C0 bu. against 9l4,aI0 a year
ago, and it now appears If the .ment for
the present season, having at length caugnt I d
on that of the year before. was getting in sna pc
to beat it, The export clearances from A.ls ntic
and gulf ports equal in wheat and -four
to 10000 bu. September opened H9Nc up at e4c
and after declining to 63%c advanced to 64A@
64ssc at the close. December started M93sc righ-
er at 61B@621sc, sold down to 615sG61%c then
frned up to 62Ac and closed at 62ts662Ac, s..ers.
Oats were easy early. but toward the close the
strength displayed by felt and the mar
ket closed steady. The principal part of the bust
ness done was changing from September to De-
cember December opened unchanged to 1870, up
to zoe. weakened to 1sA01s%c and closed at 1915
@2Oc.
Provisions depressed at the start from the
knowledge that about 1900 tierces of lard had
been delivered September contracts before the
session opened. The opening declines brought
forth buyers. who absorbed all that was for sale
at the moderate concessions. Trading first start
ed. but the quantities purchasabe on these early
terms proved to be light, and more being wanted.
yesterdays prices soon re-established and
something added. September pork opened 21sc
down at $3.50. rose to $s.sOQS921s and reacted to
$3.50. buyers at the close. December lard started
2lac lower at s5.12h, weakened to $595.10. then
improved to $5171k. the closing price. October
ribs began 2tzG5c off at $5.271a and advanced to
S.. .37k, the resting figure
Estimated receipts for tomorrow are: Wheat,
1870 corn $50 cars; oats 41O cars hogs 90 900.
Leading futures ranged as follows: