The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-09-03
FALL IN CASH WHEAT
HEAVY RECEIPTS AND BIG NEBRAs-
KA CROP REPORTED.
Heaviness I'm the Leader Dragged
Provisions Scored Declines.

CHICAGO, Sept. 2.-Big Northwestern receipts
to-day. together with predictions of large yield
in Nebraska. started prices lower in the wheat
pit. September closed 11s@1Ac down and Decem-
Der lost &c. Corn declined 1s@zsc. Oats were Ac
lower. Pork left off 12kc down. lard 7lzQ1Oc and
ribs 71kc lower.
In the figurative language of wheat spectators
the heavy receipts at Minneapolis and Duluth
gave bullish feeling black eye to-day. 1t did
not matter that Liverpool reported lad advance
in the price Of futures or that New York sent
word of numerous acceptances of last night 5
offers and that France was again bidding for
wheat. The market found sellers in the majority
at the opening and generally throughout the fore
noon. September wheat had sunk into the restful
condition usual with active trading month that
had outlived its best days and entered the thirty
last days of it's earthly career. Wheat chiefly
owed it's occasional weakness to some elevator
mans broker offering it for SALE Chicago re-
ceipts were only 176 cars and only two were Of
contract grade. The Northwest, however, re-
ceived GAG cars against 45S year ago. and the
aggregate at Western preliminary markets was
100000 bushels in of those the
corresponding day a year ago. Nebraska Grain
Dealers Association issued circular making an
estimate of from 45,oO0.0Oo to 55.Oo0.OO0 bushels
the size of the wheat crop of that State.
one, but according to the government report the
Nebraska wheat crop of last year was only
q. 45O. 900 bushels To-days estimate gave the
market another black eye, that both optics
got damaged during the session. September
opened unchanged at 64A@64ssc, declined to CSC
and closed at 6S1sc buyers. December started I'M
changed to &c lower at 62kc. hrmed up to 62Ac.
gradually declined to 61Ac and closed at 61A
@61%c.
Corn rather impressed its own character the
wheat market yesterday, but to-day conditions
were reversed. Wheat being heavy. it weighed
upon corn and helped to the heaviness
shown by the latter. Some of the leading longs
in corn appeared to see reasons independent from
wheats dizziness why corn was no longer the
valuable commodity in their eyes it appeared to
be yesterday. A good many dumped their hold
ings and of course there several watchful
bears around the pit ready to take advantage of
the wavering ranks of their opponents December
opened unchanged at 31@311sc, held steady for a
few minutes at S1hc. then began to drop and
continued on the down grade to the close. by
which time it was at sO1ac bid.
Oats dragged along after corn and wheat going
down the ladder step by step until near the close
when there a drop of two three rounds
at There was a better cash demand and
larger lots were being worked. May oats opened
unchanged at 2215c, declined to 2lRc and closed
at 22c
Provisions yielded some with grain. The de-
creased stock of Iard-11,0 coo tierces-was disap-
pointingy small. The market suffered somewhat
for lack OF orders, the buyers taking very little
interest in the market. December pork opened
2hc down at $S.S71z to $780, off to 1915 and
closed at $S.771A. October lard began 2isc off at
$5071@5.10, up TO $5.12, then weakened to $5021s,
buyers, the closing price october ribs started
unchanged at $5.S71s improved 10 s5.375@5. 40 and
declined to $780, buyers, at the close.
Estimated receipts for tomorrow: Wheat, 275
cars corn, $50 cars; oats A cars: hogs, II, COO.
as fnllnXrA.