The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-10-01
DULL WHEAT MARKET
FEATURES WE'RE RUSSIAN OFFER
INGs Ard LARGE RECEIPTS.
Weaker Cables Started n Decline and
Depression Was Felt in Every
thing Save Provisions.

CHICAGO. Sept 3O.-Extreme dullness was the
principal feature of to-day's trading in all the
grain and provision markets Confirmation of re-
ports of heavy Russian offerings. large receipts
and weak cables were influences and wheat closed
at nc decline. Corn and closed at practically
unchanged prices Provisions received fair pack
ing support and closed 577lkc higher.
The opening in wheat at shade under
yesterdays closing price. December starting at
62zc. There moderate liquidation for
time, principally by local operators, due to lever
prices and weak markets at Liverpool and Paris
and to heavy receipts both here and in the North
west. Minneapolis and Duluth reported arrivals
of 1924 cars, compared with 955 a week age and
1.o96 last year. Chicago receipts were ESQ cars,
thirty-three of which of contract grade.
Outside of this. however. there was nothing IN
the early news to encourage selling ana after
the first furry of liquidation had pesssd prizes
began to mend, December recovering TO 627sIesc
from 6219G629sc, to which point it had declined
shortly after the opening. There some in
centive to buying in news which came from the
seaboard. Later cables from Liverpool showed
partial recovery from the early decline. New
York reported that yesterdays export sales would
amount to nearly and one-quarter million
bushels. Outside markets rule were slightly
easier but some showed weakness. Duluth quota
tions being, in fact. little higher. Argentine
shipped wheat this week. After IL o'clock
prices began to sag again. more from lack of sup
port at first than to anything bearish in the news
Trading became excessively dull and consisted
mostly of evening-up transactions. many of the
traders departing for Omaha tonight for the ex-
position. After the market developed, gen.
uine weakness, partly account of dispatches
from Liverpool confirming reports of heavy Rus
sian offerings. This caused an almost total dis
appearance of the languid support the market
had been receiving, but did not cause much in
crease in selling Outside the markets all closed
considerably lower for cash wheat. A visible in
crease of 100000 to 1O.OOO0OO bushels looked
for Atlantic port clearances of Wheat and flour
amounted to 100000 bushels. The market at
It's weakest the close. December gradually
sold down to 621zc and closed at 62is@629sc Very
little was done in September. 1t closed
changed at Csc.
Corn opened weak at fractional decline due
to large receipts. 921 cars, but soon recovered and
for the rest of the session changed very little.
Gables were lower. but clearances were liberal,
$50, 900 blu. Shipping demand poor. Trading, es
pecially in futures, was extremely dull all day.
December ranged from 291sc to 29Ac and closed
unchanged at 29ssc.
Oats were dull, but steady. Trading scat
tered and entirely of a local nature and price
fluctuations were very slight. May ranged from
225sc to 22Sc and closed unchanged at 221sc.
Provisions firm a small amount of
trading. Packers were moderate buyers and prices
were slightly higher all day. Cash demand
fair There was some changing, buying of
October and selling of January and December
At the close January pork was sc higher at
$s.171k, January lard sc higher at 1896 and jan
uary ribs SC higher at $4.77h.
Estimated receipts for Saturday-Wheat 1875
cars corn, $40 cars oats. 400 cars; hogs, 49, 000
Leading futures ranged follows: