The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-09-09
BAD RUSSIAN REPORTS
WITH HEAVY EXPORTS LENT NEW
STRENGTH To WHEAT MARKET.
Heavy Northwestern Receipts Gave
Provisions Firm - Pork zoe Up.

CHICAGO. Sept. S.-Bad reports Of the Russian
wheat crop and heavy export shipments for the
day. together with fresh sales for export at New
York, gave strong closing to-day to a generally
firm wheat market and September left off ssqs4c
higher and December rose ssGSsc. Corn lost sc
and oats are up 1sc. Provisions firm. Pork ad-
vanced Zoe. lard Tic and ribs 15c.
Heavy Northwestern receipts Of wheat
knowledge of which in possession of the
traders before the session opened, went a long
way toward neutralizing the hrmness with which
wheat started at Liverpool The recent heavy
and quite steady decline and the comparatively
low price to which wheat had already sunk. how
ever, apparently made friends for the grain ana
restrained the ardor of the bears Chicago received
227 cars, against 295 a year ago, while the
ceipts at Minneapolis and Duluth 929 cars,
compared with 672 last year. Liverpool, notwith-
standing yesterdays decline here, sd higher
for September and sd lower for December. Re-
ports concerning the Russian wheat crop
quite bullish from market point of view.
disappointing harvests was the general tenor. SO
far this season the movement of new wheat in
Russia has been small enough to give what APP
pears be confederation of the poor crop reports
from that country. Wheat futures addition
ally strengthened near the close by dispatch
from New York to the effect that Russian grain
exporters, who had sold wheat for shipment in
September to the United Kingdom, trying
to have the contracts Cancelled, presumably be-
cause of difficulty in getting the grain 1t
also stated that thirty-nine boatloads had been
worked for export at New York and 10000 bu
sold for shipment from here. The receipts
at Western primary markets 900 bu,
compared with 1,2S9,OoO the previous year. Sep
TENDER opened 1sc higher at &C. weakened to
61Bc improved to 625sc and closed at 62l2q625sc.
December started unchanged to 1sc up to 6O9sc,
sold off to 6O@6O1sc. to 6o24@6O7sc and closed
at 60Ac sellers.
Spectators in corn were for the most part bear
ish on account of the listlessness of the shipping
demand. Prices were steaded somewhat by the
strength of wheat and predictions of frost in
Iowa tonight. The market ruled heavy, how
ever. the seemingly strong spots in it proving to
be only delusion and for the bulls. The
small receipts compared with those of a year ago
were ignored and heavy shipments from the
board equally disregarded. December start
ed unchanged at 3Olsc, sold up to SOBQSOAc,
weakened to 297sc and closed at zoe. buyers.
Oats followed wheat. There was fair amount
of business transacted, but the range never
wider than Ac. There was some inquiry for cash,
but bids just enough out of line to hinder
the working of any lines. May opened unchanged
to 1sc higher at 215s@21Ac, declined to 22c, then
irmed up to 21slc. the closing figure.
Provisions made further recovery from the eff
feet of Tuesdays yellow-fever shake-out and
ruled strong. The strength founded the
healthy legitimate basis of excellent demand
for the cash article. December pork opened &c
higher at $S.45, advanced to $3.50, the closing
price. December lard started unchanged at $4.87h
and sold up to $5.O5 at the close. October ribs
began sc up at $500, weakened to $5.15 then raj
lied to $3.50, sellers the closing figure.
Estimated receipts for to-morrow-Wheat. 2So
cars corn, $50 cars; oats. $50 cars; hogs 1000.
Leading futures ranged as follows: