The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-09-16
SHARP RISE in WHEAT
SHORTS BECAME ALARMED ON STIFF
DEMAND AND HIGHER CABLES.
Cash Wheat Scored Gain of Nearly
2c-PrOvisiOns Weak, Pork
Losing IL lie.

CHICAGO. Sept. ia sharp advance at
Liverpool to-day and pressing demand for the
cash article here and in the Northwest at in
creased premiums caused a decided rally in
wheat September closed 17sc higher. Pork de-
clined 1214Q15c lard 15c and ribs 71sc.
Liverpool wheat shorts were evidently very
much alarmed. as September delivery of the ar
tice was 17sd higher than it closed yesterday
before trading commenced here. The alarm COM
municated itself to their speculative brethren OF
the same kind in Chicago, the consequence OF
which was a rise in December of &C bushe at
the start and l9c more in the next fifteen min
utes. September shorts were more cruelty dealt
WITH having TO pay from 1c to 21sc over last
nights close during the time of the above-named
advance in December Duluth was the only one
of the Western primary markets that received
anything like what might be considered heavy
receipts. The daily repetition of very small re-
ceipts, however, outside of Duluth had at length
lacerated the feelings of the bears to "a point
they could no longer stand. The foreign demand
for American flour was active, Chicago flour
brokers reporting everything offered to the con-
tinent accepted, and Minneapolis millers also re-
ported heavy sales. New York reported heavy
acceptances of wheat offered from there and the
shipping inquiry here showed an Improvement
Minneapolis cash wheat advanced PIC bushel
and cash wheat at Duluth 2s4c during the first
hour Liverpool kept adding to the early advance
in September and finally closed with a gain for
the day of Esd per Genital, the equivalent of
31sc a bushel. Chicago receipts were 1SS cars
against 351 last year, and at Minneapolis and
Duluth ga cars, compared with sol a year ago.
Advices from Minneapolis were to the effect that
the heavy rains of the last few days would cause
smaller receipts at country stations for time
The total at all Western primary markets was
1,111,0OO blu, compared with 1,4SS, 900 the CORE
SDOndn0 he
clearances were 502 900 bu The indifference Of
Paris and Antwerp, shown by quotations they
cabled, to the exaggerated bullishness of Liver
pool and Chicago somewhat cooled the ardor Of
the bulls here for time, but there remained so
much desire among shorts to buy on every little
concession that reactions following the moderate
declines were quick during the entire forenoon
September wheat difficult to buy and ad-
vanced during the day from 65Ac at the opening
to &c and closed at 6614c. against 647sc yester-
day. December opened %c higher at 6S@6Shc,
irregulary to 63Ac and closed at 6SAc,
sellers.
Corn in a disgruntled and unresponsive
mood to the encouragement it might have assm-
Hated from the strength in wheat Spectators
who for months have tried to coax corn to adj
vance Disguised at the poor success and
appeared to contemplate the abandonment of a
market obduratey bearish in face of so many
Der started 1sc higher at 2sl2@295sc. advanced to
299s@29a4c. sold off to 2912c and closed at 29hQ
2s5sc.
fairly active cash demand, together with the
rally in wheat, steaded oats The buying en-
thusiasm, however, was dampened by the in
difference of corn. May began unchanged to sc
higher at 221sc, improved to 22Ac off to 22Bc and
closed at 22Mc. sellers
Large hog receipts and lower prices at the
yards settled the fate of provisions for the day.
Prices were at good, stiff decline to begin
with and that made the matter the
session progressed. The latest trading at
practically bottom prices of the day. December
pork opened &c lower at $S.5712, weakened to
$S.471a and left off at $S.47hQs.5O. Lard started
sc off $4 925 and sold off $4s2l4, buyers the
closing price. December ribs opened TIC lower at
$.77A and declined to S4.7O the resting figure.
Estimated receipts for to-morrow-Wheat, 175
cars corn, $40 cars oats. $50 cars; hogs, 25 600.
Leading futures ranged as follows: