The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-09-26
WHEAT WAS STRONGER
FROM THE OPENING
WEAKNESS EARLY IN THE DAY.
Heavy BuyinG Orders Received from
Southwest and Cars Were Scarce
other Grains Strong in sympathy.

CHICAGO, Sept. S.-With the exception
of a short period Of weakness early in the
session wheat was strong to-day and closed
at 7sdlc advance for December, and 1isc for
September. The strength OF corn. a small
visible increase, and a recovery in cables
helped, but the strength was mainly in in
creased trade and timidity OF the bear
crowd. Corn was strong and advanced sc.
Oats advanced bQAc and provisions closed
unchanged to nc higher.
The opening in wheat was weak. with no
especial important trade. Both local pro-
fessionals and outsiders were sellers in a
moderate way. and for a short time prices
showed a dropping tendency and ranged
slightly below Saturdays close. The weak
ness was mainly on account Of a decline at
Liverpool, though this was expected to fol-
low Saturdays decline here. Receipts at
most Western primary points were heavy,
though they did not reach last years total.
This fact, however, was lost sight OF for the
time being. The narrowness of trade at
first rendered the market susceptible to triv-
ial factors, but later cables showed a COM
plete recovery from the opening decline,
with a slight advance in some futures. This
was a cue for local traders, and prices i'm
mediately felt the effect on the increased
buying. AS the session progressed, trading
became much broader and more general.
Heavy buying orders came from the South
west, st. Louis sending bullish dispatches
concerning demand from country millers
and failing supplies. Scarcity of cars was
reported in the Duluth region. with a heavy
flour business. The visible supply state
ment. WHICH was expected to show a heavy
increase, feh short OF expectations by a
lOnE WAYS. 1na lnHra4SQ hG1EV hnf AM I'M
bushels. The gradual advance in prices
brought early sellers into the market, but
little wheat was offered for sale, the bear
crowd being apparently timid about selling
in the present condition of the market and
prices were bid UP sharply before offerings
mand. The market got well above calls, and
settings against those privileges checked
the advance for a time, but near the close
or the session shorts again bid prices UP
sharply and the close was strong at close 10
top figures. Minneapolis and Duluth re-
ceipts were 1,3Sl cars, against 1,452 last
week and 1,66S a year ago. Chicago receipts
primary receipts were /, 1894. 900 bushels, COM
pared with 1,792,OD bushels last year. At
| aggregated 776, 600 bushels. The seaboard re-
ported only nineteen loads engaged for ex-
port, but was a good buyer In this mar
els, or about 100000 bushels over estimated
weekly requirements. December whea,
opened 1sGAc lower at 721sc. 1t sold at T2Ac,
tuSn dQNdlCtO 10 foC- "A EedCtlOn y t<1st
was followed By a steady advance to 731zc,
the market closing at 1880. September
closed hdssc higher at 74xc. A feature OF
the late advance was the strength of corn,
| Nervousness over September corn shorts
had considerable influence on wheat specu-
lators.
Corn was active and strong. after a short
weakness was mostly in sympathy with
wheat. Receipts were heavy m local stocks
increased 1,O6s.0 600 bushels, but this did not
ahQnf rio Shorts in SDnfoTnhQr UQrf
evidently apprehensive of a corner and were
active bidders all day. The price reached
35c. for there was plenty for sale and the
advance was checked. Deferred futures
were strong in sympathy and good advances
were scored all around. Receipts were 1.6Ji
cars. September ranged from 34c to 35c
and closed &c higher at 3c. December
ranged from 29s4c to 3Olzc. and closed $50
higher at 3Glac.
Not much was done in oats. The market
was easy early. following other grain mar
slight advance. Trading was exceedingly
narrow all day and mostly of a scalping or
der. The cash demand was only fair. Re
ceipts were 462 cars. December ranged from
22asc TO 2zbd23c. and closed bqhc higher al
227sc.
Provisions were quiet but steady. Tn
meat market showed easiness with grain a
the start, but another good advance IN
meats at Liverpool and the later strength OF
grain markets resulted in a recovery Of the
scored in some products. There was moder'
ate selling of general products by packers
At the close, January pork was 5dI1at
higher at $3.50; January lard unchanged a.
s5.52l2 and January ribs 2laQ5c higher a
$5.121a.
Estimated Receipts for Tuesday-Wheat
corn and oats not reported; hogs, 600
head. Leading features ranged as follows: