The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-09-22
NERVOUS GRAIN MARKET
WHEAT STRONG AND WEAK BY
TURNS, AND CLOSED LOWER.
Corn Was Hammered and Scored n De-
cline, While Provisions Fell or
on Yellow Fever Talk.

CHICAGO, Sept. 21.-Wheat was strong to-day
at the opening and weak at the close. Heavy
outside buying and large export sales were sus-
tanning influences, but realizing by the local hold
ers proved too much for the market to stand up
under. December closed at &c decline and Sep
TENDER sc lower. Corn was easy, but lost only
a small fraction Oats were strong under cover
ing by shorts and advanced isQssc- Provisions
were dull and weak. closing 2k@1Oc lower.
Wheat was strong at the opening. December.
which closed yesterday at $3.50, started to-day at
6SSs@6Sl5c and advanced in very few minutes to
635s G6S%c. slight reaction then took place.
the price dropping to 6SA@6S3sc, but the market
almost Immediately turned strong again and be-
fore selling became heavy enough to affect prices
December had advanced to 6S7sc. September.
though inactive, was also very strong. opening
llc higher at &C. and advanced to size The
main feature of the strength the heavy buy
ing Of prominent st. Louis specuator. his pur-
chases during the first hours trading being esti-
mated at 1.50O. 0o0 bushels. The character of the
news was rather encouraging to buyers Mime
apolis and Duluth receipts were 912 cars, against
91S last week and S5S year ago. Chicago re-
ceipts were PIP cars. Liverpool cables showed
strength in that market and a strong continental
demand for wheat reported with prices
higher. Duluth reported cash wheat in good de-
mand and 16c higher. After the first hours
trading the market began to weaken. Offerings
became much heavier and general, nearly all of
the local holders who have been buying for sew
era days putting wheat the market. Later
Liverpool cables showed loss of some of the adj
there. Atlantic port clearances were mod
crate, 2s5 900 bushels compared with yesterdays
heavy clearances, but this amount was not very
encouraging. A gradual decline took place De-
cember getting down to $3.50. Here another buy
ing furry developed sending the price back to
6SHc, but the bidders at that price were deluged
with offerings and the price quickly broke to
631sc For some time the market fluctuated rap
idly within narrow range under active scalpng,
but did not develop any real strength again until
near the close when the announcement that sew
enty loads of cash wheat had been worked for
export rallied the december price suddenly to
6Shc. 1t dropred again to 6SAc and closed rather
nervous at that figure. September sold as low as
661Sc and closed at 66Ac
Corn was dull and heavy The market showed
strength around the opening, but this was largely
in sympathy with wheat There was some chang
ing from September to December. The country
reported selling new corn, to arrive in November
and December. Receipts were 493 cars. Clear
ances were small and cash demand slack. The
market became easier late in the day and closed
rather weak. December ranged from 29Ac to
2sssc and closed shade lower at 295s@29%c.
Oats were strong notably so for September, and
the volume Of trading was considerably increased.
There was large buying by two leading
commission houses and offerings were light. Cash
demand was good. Receipts were 272 cars. The
market felt the late wheat break and best prices
were not maintained. May ranged from 225sc to
22ssc and closed &c higher at 2212@225sc. Sep
TENDER closed CSC higher at 2111c.
Provisions again very dull and with the
exception OF slight show of strength early in
the session, rather weak. Cash demand was good.
but yellow fever talk had a depressing effect.
Packers were moderate sellers of ribs Specu-
lative demand light. December pork closed
1Oc lower at $s.171k, December lard sc lower at
$472k@4.75 and January ribs 2ac lower at $4.67s.
Estimated receipts for Thursday-Wheat 200
cars corn, $50 cars; OATS 800 cars; hogs $1,000.
Leading futures ranged follows: