The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-09-21
SURPRISE FOR TRADERS
FALLING OFF IN WHEAT RECEIPTS
STARTED STRONGER MARKET.
Large Exports from New York As
sisted the Bulls in Advancing
Prfces-POrk Firmer.

CHICAGO. Sept. 20.-Strong outside cash mar
kets and light Northwestern receipts were factors
in a sharp advance in wheat to-day. December
closed Sc higher and September 1%zc higher. Corn
and oats were both favoraby affected by wheat
and advanced Ac each Provisions weak
early, but turned strong and closed at slight ad-
vances all around.
A surprise given traders in wheat at the
outside by the big dropping off in receipts in the
Northwest Minneapolis and Duluth reporting but
800 cars. compared with 1893 yesterday and 1924
a year ago. To add to the natural bullish effect
of these figures. Liverpool cables firm and
higher and there was quite good demand to
cover foreign acceptances. December started with
plenty Of buyers at 621s9625sc, against yesterday
closing price of 62Ac. and inside of half an hour
the demand had advanced the price to 627sc. Sep
TENDER in the meantime showed even more
strength than the latter delivery. opening K@hc
higher at 65@65Ac and advancing to 65%c. At
62Nc for December the advance checked.
That price was close to cali figures and quite
a good deal of selling by holders of those privi-
leges ensued, resulting in a slight reaction. A
period Of dullness ensued, with prices varying
but little until about noon, when Atlantic port
clearance figures posted, showing the sur
prisingly large total of 977 600 bushels. of which
New York contributed 100000 bushels. AS yester-
days visible supply statement gave stocks at New
were entirely unlocked for and buying furry
ensued Immediately. December advancing to CSC
and September to 6612c, with the demand quite
general. Bradstreet's figures the worlds WIS.,
ible showing an increase OF 1892 900 bu, encour-
aged sellers again and caused prices to drop a
little, December getting back to 625sc, but near
the close the strength showed by outside markets.
especially for the cash article, started buying
again and the market from that time ruled
very firm December was finally bid up to 627sG
621sc and closed at $3.50. September advanced to
$3.50 and closed at 661kc
Corn was very slow. but strong the main in
huence being the strength in wheat. Cables were
firm and commission houses took good many
scattered lots. Receipts were 913 cars. December
ranged from 29a4c to 29l2c and closed Ac higher at
29&4c.
The market for oats was almost at standstill.
Only small scalping business done and
prices until late in the session showed scarcely
any variation Trading became more active late
In the session in sympathy with wheat and prices
advanced some. the market closing firm at the
top. May ranged from 2214c to 221&c and closed
| at 222s@221kc.
| Provisions started weak. Hogs receipts were
liberal and there were the usual yellow fever
| reports. The selling pressure not heavy,
| however, and moderate buying by packers caused
| prices to harden later. Trade at time was
very large December pork closed 212c higher al
$S.27ls December lard 21zc higher at s477lac and
January ribs 2lAc higher at $40
| Estimated receipts for Wednesday-Wheat, III
cars; corn $50 cars; oats, 260 cars; hogs, 5000
Leading futures ranged as follows: