The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-08-04
FIRMER WHEAT MARKET
HIGHER AT CHICAGO ON SMALL RE-
CEIPTs AND BETTER CABLES.
Coarse Grain Weakened on Favorable
Crop RepOrts-ProvisiOns Scored
Declines Throughout.

CHICAGO, Aug. 3-Small domestic re-
ceipts and a firm Liverpool market to-day
were motives for higher prices in wheat
September closed &c higher and December
gained &c. Corn lost 1sc. Oats rose 1s614c.
Provisions were extremely weak. Pork de-
clined 30c, lard 15c and ribs zoe.
Higher Liverpool cables, as a result of wet
weather throughout England gave wheat a
good start here. The domestic receipts were
still more noticeably small than they were
yesterday. That was a further reason for
strength and as the figures were made
known during the first hour of the session
an addition was made to the first advance.
Chicago received only 10S cars, against 125
estimated and 1876 received last year. Min
neapols and Duluth receipts were seventy
five carloads, compared with 167 the year
before. Primary Western receipts all told
were only $4,000 bushels Business in the
pit was quite active at times, but not much
of it came from outside Of Chicago. There
was an active demand for wheat for ship
ment East and in the sample market prices
paid were from l to 2 cents above those
current yesterday for choice samples. Low
er grades showed even bigger advance.
The quotations from Paris were at about
1c reduction. This weakness caused break
in the bullishness here, but the market soon
revived when it became rumored around
that the quantity sold here for prompt ship
ment East amounted to 100000 bushels. The
days clearings of wheat and flour from At
lantic ports were equal to $4,000 bushels.
September opened A@asc higher at $3.50
65Ac, rose gradually to 66c, then sold off to
659sc at the close. December started A@ssc
up at 645s@64s4c, advanced to 652sc and
closed at 64Mc.
Improved prospects for the crop brought
about by rains weakened corn. Moderate
selling by the country caused prices to fall
off early. Later, however, the initial loss
was partly recovered on buying of puts and
on better export demand. Thomans re-
port, which dropped the condition points
for July, gave the bulls some encourage
ment Those who sold lines yesterday were
disposed to reinstate themselves on the long
SIDE September opened 1Sc lower to Sc
higher. at 325s@S2a4c to 921sQ329sc; sold off
to 3214@32ssc, advanced to S2a4c and closed
at 321ac asked.
A good shipping demand and moderate
buying for the outside account held oats
firm. Crop damage reports were also an in
iuence. September opened unchanged at
2O12c declined to 2Ossc, rallied to 2Oalc and
closed at 2Oss@20a4c
Provisions furnished a sensation on excess
sve selling by several of the prominent
packing interests. At one time pork was
off SOC, lard zoe and ribs 90c. Covering by
shorts to secure profits resulted in reac-
ton, but the market received no special
support, and the feeling remained through
out the session Traders generally were
mystifed by the sudden Generalization, but
several operators were of the opinion that
the good prospects for ending the war with
Spain were responsible. September pork
opened &c lower to PIC higher, at $9.1212@
800, fell off to $50 and firmed up to $SS71a
at the close. September lard started un-
changed to &c down, at $5.3O@535 dropped
began &c off, at $500 declined to $5.O5 and
rallied to $515, the closing figures
Estimated receipts for o-morrow-Wheat
100 cars; corn 500; oats, 200; hogs, 25 900 head.
Leading futures ranged as follows: