The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-08-30
WHEAT AND CORN SOAR
FORMER RISES Use AND LAT
TER CLOSES 1 1-2C HIGHER.
Heavy Cash Business the Prime Fac
tor i'm Prices-Oats
Firm but Quiet.

CHICAGO, Aug. "a big cash business
was the prime factor in wheat to-day,
September closing &c higher than Mon
day. September corn closed ilsc UP. and
oats a shade improved. Provisions were
fairly steady.
Strength and activity characterized the
wheat market nearly the whole session.
The excellent cash business was the broad
foundation stone on which the strength
was founded. Cash sales here were 1000
bushels, and the seaboard reported 50 loads
taken for export. Export clearings Cor two
days were SOS, 600 bushels. Bromhill esti-
mated an import requirement for the
United Kingdom of 100000 600 bushels, and
the English crop probabilities were made
70, 900, 900 bushels less than last years, maxi
ing the crop the smallest since 1895. Liver
pool closed &c higher. Domestic news was
but little changed, decreasing Southwest
ern receipts. rather unfavorable weather
In the Northwest and rather heavy re-
ceipts. September opened at 741zc to 74lsc,
n range of prices due TO the instantaneous
consideration of the foreign bullishness and
the heavy local receipts. The foreigners
soon got the best Of ii, and under a gen.
eral demand, IN which shorts were clamor-
Gus, the market advanced to 75B475Ac.
Having started upward, there was scarcely
any reaction, and the close was strong,
September sc higher. at 75Q75Bc. Primary
receipts were 1,i21,ON bushels, compared
with CSC, coo bushels last year. Minneapolis
and Duluth reported 23 cars. against 252
last week and 373 a year ago. Local re-
ceipts 0wo days. were GIG cars, 6S of con-
tract grade.
Corn was active and strong, speculation
for a rise in old crop futures, owing to a
scarcity of old corn, being the ruling mo-
tive, as it has been for some time past.
| Liverpool was up lad to 1asd, and the sea-
board reported 50 loads taken for export.
Cash sales here were 500,O 600 bushels, nearly
all for direct foreign shipment. The ship
ping demand would nave absorbed more
than it did had holders been willing to
make even slight concessions In price.
There was a further decrease in stocks, the
local contract now being only 32l, 600 BUSH
els, while the stocks in public and private
elevators are but 1885, 900 bushels. Cash corn
ac~ceptances showed some gain to-day, but
were still light. Local receipts were Ash
| cars. September sold between 39Ac and Ale,
and closed 11ac up, at Ale.
| Oats were firm, but quiet. The strength of
other grains sustained the market in the
face of some liberal offerings. A good de-
mand for export was reported, the guam
tity sold being put at 100000 bushels. Re-
ceipts were 7S cars. September sold be-
tween 215sc and 2Ac, closing a shade high
er, at 2l5sd2l%c.
| Provisions were quiet and fairly steady.
| The ease and grace with which the market
| absorbed liberal offerings of lard from
| commission houses was the feature in the
pit. September pork sold between $10.971a
and 5000. and closed &c lower. at SIC. 80;
September lard between 500 m $685.. clos
ing 21aQ5c down, at $685.. and September
ribs between sos and 81, with the close
212c higher, at S7.0212.
Estimated receipts to-morrow-Wheat,
ass cars; corn, 40 cars; oats. $50 cars; hogs,
1000 head.