The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-08-04
GOOD EXPORT BUSINESS
1T ADDED HALF A CENT TO THE
PRICE OF WHEAT.
Corn Was Weak on Good Weather and
Lack of Deman6-YeIlcw Fever
Reports Disturbed Provisions.

CHICAGO, Aug. 3.--Wheat was weak
early on heavy primary receipts. but be-
came strong later on heavy cash and ex-
port business and closed at an advance of
&c The market as whole was mar
row one Corn was weak. principally on
the small shipping demand and declined
1hd5Ac Oats advanced isc. Yellow fever
reports scaled provision prices. Pork de-
clined 15c. lard 2Ikd5c and ribs 5G7izc.
Wheat opened with buyers in the ma
jority. The brief session at Liverpool re-
suited in an advance of SD in prices there
AS local prices declined cent yesterday,
this naturally had considerable effect
There was a good deal of covering by yes
terday's sellers at the opening and buy
ing by professional longs. September
opened at 75lsd57ssc. compared with yes
terday's closing price of 74s4Q747sc. The adj
vance was maintained but short time.
Primary receipts were very large, nearly
80 per cent. larger than year ago, and the
quality of receipts of new wheat at Min
neapolis was said to be the best in years.
AS soon as the opening demand was sat-
isfied the market turned weak. Bears
took advantage of the lack of orders to put
pressure on the market and prices slid off
very easily under the raiding, September
dropping to 741zc with hardly a rally of
consequence. 1t then rallied to 751sc, but
again declined to 74%q143sc, chiefly on ac-
count of lack of support, end not until
the session was near its close did the mar
ket develop any real strength. Then re-
ports of heavy cash buying and special
export engagements began to come in, local
as well as outside points reporting good
business. A bullish report the con-
dition of the Northwest crop by Statis-
tician Snow increased the demand. which
at all times, however, was local, there be-
ing very little outside interest shown in
the market New York finally put it's ex-
port engagements of SO loads September
rallied to 752sc, and closed at 75Aq75ssc bid.
Northwest receipts were 24l cars. against
233 last week and 305 a year ago. Chicago
receipts were PA cars, "a of contract grade.
Total primary receipts were put at $4,000
blu, compared with $4,000 bu a year ago.
Atlantic port clearances of wheat and
flour amounted to 493, 900 blu.
Corn, with the exception of a few mo-
| ments of firmness around the opening, due
to higher cables and complaints of heat
| In Kansas, was weak and lower all day.
| The weather over most of the corn belt
| was good and favorable crop prospects
| encouraged selling, which was persistent
and at times. rather heavy: The demand
| was local and scattered. There was some
| cash demand on the break, but not suf-
| ficient to affect the market. There was
| a Slight rally near the close, in sympathy
with wheat. Receipts were 272 cars. Cash
ranged from 1865 TO 37ssc, and closed 12@5sc
| lower at 367sq37c.
Oats were dull. but fairly steady. the
| market holding its own in spite of the
| corn weakness There was some liQuda-
! ton early on the heavy receipts. but the
slight loss was recovered later. The cash
| demand was good. Receipts were 453 cars.
| September ranged from 21c to 21Ac, and
closed 1sc higher at 21Ac.
| Yellow fever reports were the one factor
In provisions. Opening prices showed ma
| terial declines from that reason until late
| In the session the market was extremely
| weak. There was q general letting go of
| products on the break, but late in the day
| some of the loss was recovered on good
| buying by packers and the continued good
| cash demand The close, however, was
heavy. September pork closed 15c lower
| at $l205; September lard 21z@5c lower al
| S6.S5. and September ribs 5@71ac lower at
| $710Q7 1211.
Estimated receipts Saturday: Wheat, 21C
cars; corn. 275 cars; oats, APO cars; hogs
| $1,000 head.
4 dino Cat, ell