The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-08-24
LARGER EXPORT DEMAND
1T WAS A STRENGTHENING FACTOR
IN THE WHEAT PIT.
Corn Closed Lower on Better weather
Conditions - Oats in Sympathy
Provisions Made Small Gains.

CHICAGO, Aug. 23.-NVheat was weak
early. to-day, in the face of bullish news,
but rallied later on an export demand
September closing 5sdAc higher. Corn and
oats each closed kdAc lower. Provisions
closed slightly improved.
September wheat opened a shade up at
1880 to 1890. Liverpool showed a ssdAd
advance; heavy rains in the Northwest
were reported as interfering with harvest
ing and traders generally expected a ~falline
off in primary receipts in the near future.
In the face of this the opening figures were
a disappointment. The cause of this UNI
responsive attitude of the market was to be
found in selling by outside people through
commission houses. In disgust local traders
followed the outside lead and September
dropped early to 734c. Later the presence
of an export demand began to be felt. This
started the market upward and the early
sellers turned buyers. but found offerings
very scarce. September rallied sharply to
74%c, and closed strong %G&c higher at
74%674kc. Cash sales here were reported
at 155, 600 bu, while New York reported 20
loads taken for export. Clearances at the
seaboard, in wheat and flour, were equal
to 177,000 bu. Russia reported threshing re-
turns from some sections disappointing,
and the rye crop is below the average.
Primary receipts were 100000 blu, compared
with $40, 600 blu last year. Minneapolis and
Duluth reported 377 cars, against 242 last
week and PSI a year ago. Local receipts
numbered 325 cars, Is of contract grade.
Advices from the spring wheat territory
were to the effect that the rains had done
serious damage TO wheat In shock. The
domestic flour trade was said to be in a
iouriShing condition.
Improvement in the weather, as viewed
from the standpoint OF corn ~raisers, caused
considerable liquidation In that cereal. The
market opened a shade higher, but slumped
steadily following the first tradings. Later
the wheat strength acted as q support and
most of the loss was regained, the close
being steady. September sold between 3SAc
and 39Hc, closing BGAc down at 39B@39Ac.
Receipts were 1S cars Country accept
ances were small.
Oats were again under the depressing in
1uence of September liquidation I'm
proved crop reports from some sections,
coupled with the early weakness of corn,
but little in sympathy with the corn rally.
September sold between 21hG21Bc, closing
1k@Ac lower at 21asd21Ac. Receipts were
Isl cars.
Provisions were dull early but later some
activity was stirred up by a cash demand
particularly for lard and ribs. This, in
view of the scarcity of cured meats,
caused a stronger feeling in the pit. The
South was the best buyer. September pork
sold between s11 .02h and S10S7k and closed
nc higher at %s11021a; September lard be-
tween Sc. 72h and s6.67hc. closing 2ac better
at Sc. 721z, and September ribs between sos
and $6.911z. with the close &c improved at
sos.
Estimated receipts tomorrow: Wheat. Ais
| cars; corn, 165 cars; oats, $50 cars; hogs,
| 17,000 head.