The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-09-20
HEAVY WHEAT RECEIPTS
LARGE INCREASE CAUSED WEAK
MARKET AND A DECLINE.
Surprising Increase I'm the Visible
Supply Also Assisted the Bears
Provisions Weak and Lower.

CHICAGO, Sept. 19.-Heayy receipts and large
increase in the visible supply had a depressing
effect on wheat to-day and resulted in decline
of about &c in both the September and December
options. Corn heavy with wheat and de-
clined &c. Oats closed practically unchanged,
after exceptionally dull session. Provisions
were weak throughout and closed 5G7lsc lower.
Wheat experienced some hestancy after the
first hours trading Receipts in the Northwest
reporting 1888 cars, against las last week and
1888 year ago, and though the crowd in
measure prepared for this, vet enough liquidation
and short selling resulted to cause prices to sag
for time, December, which opened unchanged
at 625sd62Ac. declining to 62lzc. This show Of
weakness only temporary, however. Not
wthstanding the heavy Northwestern receipts
prices at Duluth especially for cash wheat. were
firm and this fact caused a bulsh feeling to
gradually develop. Besides the frmness of the
Northern market, prices here were helped to a
certain extent by the small Russian shipments.
1900 0cO bushels and the receipt. both here and
at New York, of numerous foreign buying orders.
Many of the early sellers turned buyers and in
the absence Of any particular selling pressure
December soon recovered its early loss, advancing
to 627sc before the demand was satisfied. For
some time after that price reached the mar
ket ruled very dull, but steady until after
showed an increase of 1,7S2, 600 bu. making the
total TO- 1888 900 bu compared with II 140 coo year
ago. The figures distinct disappointment
to bull leaders, an increase of not over 500, 600
bushels was looked for and the market was
affected at once. After the liquidation that re-
suited the price for December sagged to 62Ac.
After the market became very dull again
and continued until the close. The price in the
meantime dropped to &c and hung around that
4La 0f
little better feeling developed late in the session
| and December recovered to 62Ac, which the
closing price, Not much done in September.
The price ranged between 65l2c and 64Ac and
closed at the low point.
Corn was dull and inclined for the most part
to follow wheat. 1t was firm early due partly
to light receipts, 562 cars, but when wheat turned
weak corn did likewise. Shipping demand was
moderate. The visible increase 1857, COO bu,
somewhat more than expected. December ranged
from 29zc to 2915c and closed 14c lower at 2912c.
Oats very dull. Considering the weakness
of other grain markets, however, oats held very
steady. There was a good cash demand. The
market was uninteresting throughout, trading
being almost entirely of light scalping nature.
May ranged from 22Ac to 22sc and closed shade
lower at the latter figure. September and Decem-
Der showed change.
Market for provisions weak from the start
and substantial declines took place. due principal
| ly to the yellow fever reports from the South.
Speculative market was moderately active, but
cash trade was light. Hog receipts at all points
were liberal December pork closed 2lzc lower at
$685. December lard TIC lower at $4.72lzQ4.75 and
| January ribs PIC lower at $40.
Estimated receipts for Tuesday-Wheat, SIS
cars; ESQ cars; oats, $50 cars hogs, $4,000.
Leading futures ranged as follows: