The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-08-23
ON HEAVIER RECEIPTS
CHICAGO WHEAT WEAKENED AND
FUTURES ALL DECLINED.
Corn Market DemoraIixcd with Largo
Receipts and Liberal Sales
Provisions Lower.

CHICAGO, Aug. 22-Suddenly increased
receipts to-day caused a decline in prices of
wheat. September closed ssGiac lower; De-
cember lost CSC. Corn declined 15c and oats
are unchanged Pork left off unchanged,
lard 10c lower and ribs sc down.
The Liverpool market was 1lad lower be-
fore the opening here than it closed last
week. That was added to, the bearishness
previously prevailing when, just before the
session opened it became known that the
days receipts at Minneapolis and Duluth
were S39 cars, compared with 315 the CORE
spending day of last year, and the desire
to sell wheat at the start received a fresh
stimulus. 1t was under such circumstances
that September wheat opened with sellers
at from 627sc down to 625sc, compared with
633s 631ac at the close last Saturday. At the
decline there was not short in the trade
but had a good profit and accordingly, it
was most natural proceeding for large
number of them at once to take action to
secure it. From that source there came buy
ing enough to cause a recovery in Septem-
Der to 63Ac about a half hour from the
start. The price of September kept on the
rise during the forenoon, until it struck
6312c for an instant. December kept follow
ing September at about 115c discount under
ness in the first of the session. AS the most
urgent shorts had covered and withdrawn,
however, the market again got dull and
weak. Chicago receipts were 297 cars. At
lantic port clearances, wheat and flour, Sat-
urday, were smaller than the recent aver
ages. The total was 100000 bushels. The
primary Western markets received an ag
gregate of 1,4S0,0C0 bushels, against 1,441O0O
bushels the previous year. The visible sup
ply showed the reduction expected, the de-
crease amounting to 100000 bushels. COM
pared with 497OO0 bushels decrease the year
before. The present total is now down to
5,S50,000 bushels, which. it is almost needless
to remark, is the smallest total of which
statistics of the trade have any record.
September. opened 5s@Ac down. at $3.50
then weakened to CSC at the close. Deem
Der began A@5sc lower, at 61$s@61%c,
acted to 615sc asked, the closing price.
Brilliant weather, large receipts and free
sales of cash by the country demoralized
corn. Nearly everyone in the pit had large
quantities for sale, and, as a result of the
extensive offerings, the trade was thrown
into. general confusion: September opened
asd%c lower, at 293s@29szc. fell to 291sc and
recovered to 1850 bid at the close.
Oats were firm, considering the weakness
in the other grains. There was a good COM
mission trade, with the demand generally
exceeding the offerings. September began
hc lower. at 1890. weakened to 197sG191ac,
and rallied to 1890 at the close.
Provisions were comparatively firm early,
but finally yielded with grain There was
quite a pressure on lard and ribs through
prominent commission houses. September
pork opened &c higher, at SO, declined to
$3.50 then rose to $685. at the close. Sep
TENDER lard began 21ac lower. at $5.071A, sand
sold down to S., the closing figure. Septem-
Der ribs started unchanged, at $510 rose to
$5.1212, weakened to s. and closed at $5.0712.
Estimated receipts for o-morrow-Wheat.
100 cars; corn $50 cars; oats, 375 cars; hogs,
1900 head.