The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-08-29
SHORTS ARE NERVOUS
GENERAL DESIRE TO COVER CON-
TRACTS GAVE HIGHER PRICES.
Partial Crop Failure I'm Russia Re-
ported, Giving Confidence to Bulls
provisions Stronger.

CHICAGO, Aug ga desire on the part
of September shorts to cover up over Sun
day caused prices to tend upward to-day
in the wheat pit September closed Sc
higher, and December gained sc. Corn rose
lac and oats are unchanged to lac up. Pork
advanced 215c, lard &c and ribs 7I2c.
Wet weather in England and reports Of
failure of the wheat crop in one of the best
wheat provinces of Russia were given as
reasons for the Liverpool quotations of
wheat showing an advance of from SD for
September to ssd for December. The adj
vance, where decline had been confidently
looked for. was the principal reason for
higher prices at the opening here. Behind
the improvement at Liverpool there was
the still abiding cause of anxiety TO short
sellers for September in the existing search
ty of the grain in commercial channels.
Comparatively heavy receipts in the North
west was the qualifying condition of affairs
at the start that the bears took comfort
from and prevented anything like panic
among them from the disturbingly small
amount in store The weeks shipments of
wheat and flour from both coasts were re-
ported at 1868 AIS blu. compared with $685. 900
blu the previous week. Chicago receipts for
the day were Isl cars. against 100 the year
before. Minneapolis and Duluth reported
652 cars, compared with 395 the similar day
of the year before. The total receipts at
Western primary markets was $4,000 bu.
compared with 11S2,oOO blu the year before.
Atlantic port clearances for the day were
equal to $4,000 blu in wheat and -four The
domestic winter wheat receipts were again
strikingly smaller than those of the pre-
ceding year. September wheat opened at
ant etc DIV hofuy hat ,NrOa
and 6315c during the greater part of the
session. December most of the time kept at
&c under September. Firmness was the pre-
vailing feeling near the close, when prices
were at their best for the day, September
selling sparingly at 64Q641sc and December
at 61%c, but both reacted a fraction on the
last few trades. September opened 1kc
higher, at 637sc, declined to 6315c, rose to
64Q641sc, and closed at 64c. December start
ed A@1sc up, at 61S6@617sc, sold off to 61k
Q619sc, firmed up to 617sc and left off at
615sc buyers
Corn was somewhat bullish on claims
from Kansas OF poor yield because of hot
weather. Speculation was dull and traders
apparently were inclined to leave deals
open for developments during the coming
week. September opened Ac higher at SOC,
SOLO up to SO1Sc, declined to 2S3sc and closed
Trade in oats was mostly in the way of
changing September contracts over into
May the latter holding at PIC premium.
september opened unchanged to 1sQAc
lower at 1870, and advanced to 1870, the
closing price.
Support from houses with English connec-
tons, together with denials of yellow fever
rumors from Texas. steaded provisions
Packers bought September ribs and sold
October September pork opened 219c lower
at $3.50. and sold up to $S.S5, the closing
price September lard began PIC higher
at s. 1c. declined to $5.071a, then rallied to
$5.121z at the close. September ribs started
unchanged at $51715. improved to $685., and
closed at $5.221AG5.25
Estimated receipts for Monday - Wheat
2CO cars; corn, $50 cars; oats 475 cars; hogs,
10000 head.