The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-08-21
CHICAGO PRICES RISING
CORN LED THE MARKET WITH AN
ADVANCE OF 1-SC.
Wheat Was Firm ON Higher Cables
and the Short Interest Bid 1t
Up-PrOv:siOns Unchanged.

CHICAGO, Aug. 19.-Advances of lie in
September corn and a4@7sc in September
wheat were the features Of tO-day's trad
ing on the Board of Trade. In corn small
receipts and large shipments drove alarmed
shorts to cover; in wheat damaging rains in
the Northwest and strong foreign markets
had a similar effect. Oats advanced AQ$c
for September and provisions closed I'M
changed TO 2lsc higher.
Wheat opened strong at an improvement
Of sc over yesterdays latest prices. The
advance had substantial backing. Foreign
markets showed sharp advances, Liverpool
being up ss05sd, and London 1aq%d. Ad
vices in regard to the Russian and Rou-
manian crops were gloomy, and probably
had considerable TO do with the advances
at Liverpool and London. Domestic news
was even more bullish in its tone than the
foreign advices. Heavy and continued rains
were reported all over the Northwest wheat
fields. and many complaints of damage on
that score were received. The strength
shown by corn was also notable enough to
affect shorts in wheat. During the first
hour of the short sessions trading the mar
ket was quite active. September opened at
72hq 123sc and even at that price there was
NOT much wheat offered. Shorts were active
bidders for everything offered, and the price
got to I2ssQ l212c before realizing was suf-
ncient to satisfy the demand. A short re-
action TO 724c followed, but the market
quickly recovered and in the space OF the
next half hour touched 725s. The market
a good deal of selling against weekly calls
during the latter part of the session, and
one or two slight reactions resulted there
from, but the market had too much sub
stantial support to admit of q material
decline. and shortly before the close 72ssc
was again touched. Primary receipts We're
again mlnh less than last wear fhA total
being $4,000 bushels, against sos, 900 bushels
last year. Minneapolis and Duluth receipts
a year ago. Chicago receipts were lis cars,
IA of contract grade. Clearances, however,
were small, 115.OO bushels. Foreign bids
ment were as a rule out of line, and not
much cash business was done. Liberal
worlds shipments were looked for and some
they would unfavorably affect the Liverpool
market Monday. A decrease of about a mill
lion bushels in the visible was looked for.
September reacted to 721ac and closed firm
at that price.
Trading In corn was marked by great &C,
tivity and strength In September. Contin-
ued small receipts and heavy shipments and
decreasing stocks alarmed the large short
interest in that option and resulted In a
materially. Deferred futures advanced a
little In sympathy. Receipts were 29S cars.
Stocks here this week will decrease about
has sold 100000 bu for export. Country
offerings were small. September ranged
from 31ssc to 32Ac, and closed 1bc higher. at
32hsc.
Oats were firm, with corn, September
showing the most strength. The advance
was IN spite of large receipts, COS cars. Cons
mission houses were moderate buyers, and
shorts covered to some extent. The cash
demand was moderately good. September
ranged from zoe to 2O14c and closed AqSc
higher, at 20Ac.
Provisions were steady, but very dull,
business being mostly changing over. The
cash demand for meats was fair, and this
and the strength of grain resulted in q
slight advance for most commodities. There
was a little covering of sales made early In
the week. At the close September pork
was unchanged, at $S.32h; September lard,
21ac higher, at $5.25, and September ribs a
shade higher, at $5.121a.
Estimated receipts for Monday-Wheat,
40 cars; corn, 29O cars; oats, Cos cars; hogs,
$4,000 head.