The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-09-06
HEAVY WHEAT RECEIPTS
TWO DAYS ACCUMULATION RESULT
ED IN FEARS OF DECLINE.
Corn Was Reported Injured by Hot
Winds and showed Some Improve
ment-ProvfsiOns Firm.

CHICAGO, Sept. 4-weakness in the Northwest
and heavy receipts at all points mainly re-
sponsibe for declines OF k6hc in deferred fu-
lures in wheat to-day. September was In good
demand and closed &c higher. Hot. dry weather
caused an advance OF A@%c In corn. Oats
closed unchanged to NC higher and provisions
about 7Isc higher.
The first impulse OF traders in wheat was 10
buy. slightly higher quotations from Liverpool
and other foreign markets overshadowing for
the time being the heavy receipts everywhere
The result was opening advance OF about
h@kc in December and nc in September. De-
cember starting at n%G7lizc and September at
ss7sc. short period of realizing followed. during
which December declined to 7llsc, but the steadi-
ness displayed by corn and some rather bullish
reports the condition Of the spring wheat crop
sent the price back to the opening figures. where
they held for a short time Everything else in
the way OF news favored the selling side and
before II O'Clock the market began to weaken and
from that time to the close deferred futures
hibited more or less weakness. September. how
ever. quite steady. The elevator people were
buyers of September on account Of the small
carrying charge and the premium between Sep
TENDER and December was reduced TO nc.
Marked weakness developed in the Northwest and
a good many selling orders came from that
ton. which influences local trading. Both Duluth
and Minneapolis declined faster and further than
Chicago and predicted a continuance of heavy
receipts. This, with the poor cash demand. had
a marked influence on trading in December and
May and made those options the object OF
siderable liquidation and short selling Specula-
ton at times was nearly at a standstill which
made the cash weakness more apparent. Toward
the close there was tendency to cover by shorts.
h. oA III IL, tta Hov md ne uaod
slight rallies. Minneapolis and Duluth receipts
were 200 cars for two days Chicago receipts
were 253 cars. Total primary receipts
202 900 bushels for two days. against 3.05so00 for
the corresponding days a year ago. Atlantic port
clearances OF wheat and -four amounted to
LISA. 900 bushels. The seaboard made no mention
Of export demand to-day. December declined to
7o%c and advanced to 71hc. where it closed. Sep
TENDER closed at 69xc.
Corn showed considerable frmness in view of
the enormous crop estimates, and after a period
of weakness early. ruled higher to the close The
weather in the corn belt was dry and hot and
there was apparently some apprehension OF dam
age. complaints of which numerous. Sep
TENDER was especially strong. The cash and ex-
port demand was excellent. Receipts were 1.5oo
bushels for two days December ranged from
2Sssc to 2s,sc and closed AQSc higher at 2sd2sHc.
Oats were steady. but very dull. prices keeping
within a narrow range. The market in general
followed corn and closed at a slight advance.
There was some buying by September shorts. The
shipping demand fair. Receipts were s74
cars December ranged at 2od2oAc and closed at
201sc, a shade higher than yesterday. September
closed nc higher at 1850.
Provisions were steady. Notwithstanding lower
cables and reports OF yellow fever cases at Key
West. Selling was light and scattered and the
demand fair. The strength of corn helped the
market, everything closing firm. at advances At
the close October pork 71kc higher at IS 121k.
October lard TIC higher at $3.50 and October ribs
7h@1oc higher at s5.2oG5.22lk.
Estimated receipts for wednesday-wheat. $50
cars; corn. $50 cars: oats. $50 cars hogs. % Ocq
Leading futures ranged follows: