The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-08-11
DAMAGE TO CORN CROP
1T SENT THE PRICE UPWARD Al
MOST A FULL CENT.
wheat a Trihc Lower, but Not Weak
Oats Steady at an A~dvance-Pro-
visions Dull and Easy.

CHICAGO. Aug. 10.-Corn monopolized
the attention of traders on Change to-day.
Reports of disaster to the crop on account
of the long prevailing drought and extreme
heat added another &c TO the previous
price. Wheat did not entirely recover
from the effects of the unlocked for decline
at Liverpool and closed hs6Lc lower. Oats
advanced 1sQAc. Provisions declined 2Izc
d5c.
The Liverpool market again showed its
independence Of America by showing a
decline to-day, and this fact had a depress-
ing effect on local traders at the opening.
September started at 757sG76c, a decline OF
&c. This marked the low point of the day.
Outside of the Liverpool decline, which, 1t
was explained, was caused by the more
favorable weather conditions in the United
Kingdom, the news rather favored better
prices. The Northwest told of rains and
extreme hot weather, with consequent in
jury TO grain in shock, Argentine ship
ments, 7S4, 900 bu, were much below those
of a year ago, and corn showed a strong
desire to reach the 40c mark. Local traders
were good buyers after the surprise oc-
casioned by the action of the Liverpool
market had died away, and in addition
there was a fair demand through commits
sion houses, these bidding on a market al
most bare of Offering, bringing an advance
to 76Ac. To offset the crop damage news was
the estimate of $4,000. 600 bu of wheat as
the crop in Kansas. These tremendous
figures made a good many traders hesitate
about getting on the long side of the mar
ket. After the first half hours trading the
market became very dull, with the price
fiuctuating lazily between rs and 76Ac. 1t
was too hot for the average broker to take
much interest, and the market for the most
part was left to a small cOterie of scalpers.
The tone kept fairly steady to the close,
which was at 76c. Northwest receipts were
235 cars. against 241 last week, and lis a
year ago. Chicago receipts were 233 cars, As
of contract grade. Aggregate primary re-
ceipts were 1,ll3,00 blu. compared with 49,
600 a year ago. Seaboard ~clearances of
wheat and flour amounted to 100000 blu.
New York reported export engagements at
II loads.
Corn, considering the dullness of the 9TH
er markets, was quite active and strong.
tenor than heretofore, private advices from
Kansas City even going so far as TO say
that the crops In Kansas and Nebraska
would be the poorest ever known. Drought
and hot winds We're still prevailing, with
little prospect of relief. The demand from
shorts was at times sharp, and offerings
were even stronger than the more active
option. Receipts were 1872 cars. Septem-
Der ranged from 39c to $3.50, and closed &c
higher at 39ac.
Oats were dull but steady as a rule.
The market was rather easy at the OPEN
ing on the heavy receipts, but the strength
of corn soon caused a rally and prices were
we'll maintained for the balance OF the ses-
sion. Trading was light throughout. Re-
ceipts were sos cars. September ranged
from 22s to 229sc, and closed BGAc higher
at 223sc.
Provisions were very dull and rather easy.
Lower hog prices resulted i'm a small open
ing decline, and not enough interest was
taken in the market to cause any further
material chance i'm price or tone. Out
siders were n rate sellers. AT the close
September pc was 21zc lower at 81. 721h,
September lard &c lower at Sc. 7212, and Sep
TENDER ribs 21ac lower at $7.12h.
Estimated receipts for Saturday: Wheat,
40 cars; corn, $50 cars; oats, 40 -.
hogs, 1900 head.
Leading futures ranged az follows.