The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-08-21
SPRING CROP MOVEMENT
HEAVY DELIVERIES THREATENED
AND TRADERS UNLOAD.
September Wheat Loses 1-2c and
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 112@15sc lower and December lost
%sc. Corn declined CSC. Oats are down A1Ac
Pork left off Is cents lower; lard 21sc and
ribs 1001212c 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 " cent below the highest notch of
the opening in about ten minutes and ssc
under Fridays closing price. The influence
ing factors were both of foreign and domes-
tic origin. Quotations from Liverpool were
}2d down for September and sd for Decem-
Der. The Italian crop was estimated at from
116,0O0OOO to 120,O00OO0 bushels compared
with $4,000 600 the previous season, and the
French crop at 32OOO0,OC0 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 435
cars against 145 the preceding Saturday and
245 cars the corresponding day the year be-
fore. Chicago got 156 carloads, only 10 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
hard and No. 2 red had the grain been
ready for immediate loading but so par
ticular was the buying in that respect that
Monday loading refused The spring
wheat market was very unsettled in the
CARROTS crowds Of ho daX
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-
clally September, the other active future,
December. being comparatively steady
September opened unchanged TO &c higher
at 65@65lsc and had quick break to 64ssc.
II steadied for a little while around those
ngures, then broke to 63Ac and closed at
63ssub3l2c- December began from UNI
changed to 1sc up at from $3.50 to 631sc,
dropped to 6lhc, and firmed up to &c sellers
at the close.
Continued fine weather. slow shipping
demand and the weakness in wheat had a
bearlsh influence on corn. The tone of the
market was easy, although December in
creased its 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 sc up at
SQl2Q3Ossc, gradually declined to SOC, and
closed at 3Olsc.
Oats again demonstrated their ability to
follow corn. Trade. however, very
light and for this reason prices showed only
the slightest fluctuations. September oats
began unchanged to sc higher at 1880. and
sold off TO 1850. 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 We're disposed to accept what
profit they could find September pork
and closed at 1856. September lard opened
unchanged at S.52l9, rose to S5221zG5.25, and
declined to $40. the closing figure. Sep
TENDER ribs began 5Q71ac lower at Sis, and
weakened to S5.0I12 and firmed up to $50
at the close.
Estimated receipts for Monday-Wheat
125 cars; corn, 700; oats. 500: hogs. IS, 900
head