The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-09-15
HEAVY EXPORT DEMAND
WHEAT SHOWS SIGNS OF RISING TO
A HIGHER LEVEL.
Exaggerated Estimate of the French
Crop Gave Bears Little Comfort
Provisions Slightly Lower.

CHICAGO Sept. H.-Heavy export demand
with only moderate domestic receipts to-day
strengthened wheat. September left off sc high
er and December rose &c. Corn declined Sc.
Oats unchanged to sc up. Pork lost 212c,
lard improved 2isc and ribs closed unchanged.
Some weakness created in wheat at the
opening account of Liverpool showing 9s9%d
decline in face of yesterdays strength on this
side. The slight reduction at which first trans
actions We're enacted soon gave way to frmness
and PC advance when it realized how small
the offerings and how much wanted.
Several items of telegraphed Immediately
afterward of bullish character were responsible
for the increased demand that put up the price.
New York reported liberal continental accept
of last nights offers and also buying
orders for futures from abroad. Foreigners like
wise bought here. A small cargo of No spring
wheat worked here directly to London by a
firm that handled a good deal of the wheat
shipped by Letter during the currency of the lat
ter's operations and it considered significant
that this direct demand showed signs of revival.
Minneapolis wired that 2l5c over December price
was bid there to-day for wheat to arrive any
time in October. Demand here for prompt ship
ment opened up strong. with heavy sales re-
ported the first hour of the session. An estimate
of the size of the French crop making 1885, 600 00
bu caused a temporary break, but it con-
sdered upon reflection to be an extravagant
guess and upon that conclusion attention
again fixed upon the more bullsh happenings of
the forenoon and the market became strong
again. The movement of the domestic crop was
bearsh regards the spring and bullish con-
corning winter wheat. Minneapolis and Duluth
received 1898 against 5SS last year. and Chi
cago got ia cars, compared with 27O the year
previous. The total at all primary Western mar
kets was 1,1s2,OO blu, against 13715OO the year
before. Atlantic port clearances of wheat and
-four amounted to $50, 600 bu September opened
unchanged to &c higher at 64164Ac, rose to 64S4c
and closed at 645sc The market acted very ir-
regularly between the limits of 61A@617sc and
625sc for December. The opening was 1sc lower
at 62G62sc. 1t rose to 6219@625sc, dropped to
621sc. recovered to 621kG625sc once more and slid
off to &C. Then it recovered to 62Ac, declined
to 61%Q61Bc and advanced to 623sQ621ac, which
was the price at the close.
Corn was fairly firm for a short time and then
became uncompromisingly heavy, with longs sell
ing out disgustedly and shorts rubbing in the
agony without offering to cover much until late
in the session. The weak feature of the market
was the absence of shipping demand. Receipts
were quite moderate, being much under the esti-
mate and not much more than half those of a
year ago. December opened unchanged at 29&@
29Tsc sold down to 29ssc and closed at 29ssQ29iac
The general trade in oats was stimulated by a
good cash demand and small receipts. May be-
gan unchanged at &c, advanced to 22sQ22Ac
then declined to 221sc, the closing price.
Provisions averaged firm and closed steady at
substantially the prices they did yesterday.
Packers friendly to the market and com
mission houses with English connections bought
heavily of lard. December pork opened sc up at
$780, improved to $S.75, declined to $3.50 and
closed at $s.62la buyers. December lard started
&C higher at S. rose to $5.o219 then off to 1880
1917 and closed at $4.971A. The range in ribs
was
Estimated receipts for to-morrow-Wheat, 40
cars; corn $50 cars; oats, 315 cars; hogs, 2S 000
f,,t,,