The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-08-07
ALL MARKETS ADVANCED
FAIR SHOW OF STRENGTH IN GRAIN
AND PROVISIONS
Trade Was Not Very Active, but Un-
favorable Weather aud Light Re-
ceipts Dominated the Staples.

CHICAGO, Aug. 6.-Grain markets to-
day were influenced by weather conditions.
both as regards tone and amount of bust
ness. The weather locally was too hot for
the traders. but wet weather in England
helped to give the market a firm tone.
September closing at ssQkc advance. Hot
winds in Kansas resulted in an advance of
SIC i'm corn. Oats closed %Qhc higher and
provisions unchanged TO &c higher.
Offerings of wheat at the opening of that
market were very light, and the presence
of buying orders in moderate numbers suf-
feed to give the market a fairly firm tone.
There were no Liverpool quotations, the
English market being closed on account of
the holidays, and local traders were some
what uncertain as TO their course at first.
Initial trading in September was at 75Q
75kc, a shade advance over Saturdays
closing. and a further advance to 1850 took
place within a few minutes. Local bears,
encouraged by the heavy receipts at all
primary points, then attempted to force
prices down in the absence of any material
support, and their offerings did result in a
reaction to 75c, But at the decline fair
sized buying orders were received from
New York and the Northwest, and as soon
as the local offerings were withdrawn the
price Immediately reacted again TO 75%c.
After IL o'clock the market for the most
part was excessively dull. The weather
was too hot for the traders to take much
interest in trading, and the result was that
prices kept within a narrow range. A mild
renewal of the selling pressure sent the
September price to 74sc on one or two &C.
casions, but the declines always brought
immediate support and consequent recovery
in prices. Toward the close of the session
the local crowd, which was evidently short,
attempted to cover. but found little wheat
for sale, and the market became quite
strong, September advancing from 75c,
around which point 1t had held for some
time, to 75%s07515c. Considerable buying
was caused by the reports of incessant
rains in England and the consequent inter-
ruption of harvesting operations, and also
by the strength developed by corn. North
west receipts were 1893 cars. against $50 cars
last week and ga cars a year ago Chicago
receipts were 21 cars, 10 of contract grade.
Total primary receipts were LAS, 600 bush
els, compared with 756, 900 bushels a year
ago. Atlantic port clearances of wheat
and flour amounted to 425, 900 bushels.
Corn enjoyed a brief interval of prosper
ity around the opening. Reports of ex-
tensive damage in the Southwest by hot
winds caused quite a scramble for corn
at first. and prices shot up very quickly.
The buying for some time was quite gen.
eral, but the demand was gradually sat
isfed, and during the latter part of the
cCoSiOi lit lAldl < WdS July as Uul d.
wheat. Country acceptances were light
and shipments much exceeded receipts
Receipts were 237 cars. September ranged
from 31Ac to Csc, and closed sc higher
at 37&c.
Oats were very dull during most of the
! session, the tone, however, was firm
traders being Influenced by the strength
of corn, and an early advance was well
maintained. There was moderately good
outside buying at times. Receipts were
5SS cars. September ranged from 21Ac to
2l5sc, and closed sake higher at 215s@
2l%c.
Provisions were dull all day. Lower hos
prices and fears of further yellow fever
developments made buyers timid at first
and opening prices were lower. Offerings
were small, and later the firmness OF
corn had influence on trading. Packers
bought moderately of ribs and pork. A
the close September pork was unchanged
at S11.S5; September lard, 2hsc higher al
s6.S21a, and September ribs &c higher al
S7.121507.15.
Estimated receipts Tuesday: Wheat, 26
cars: corn, S15 cars: oats, 735 cars: hogs
5000 head.