The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-08-10
STRENGTH OF LIVERPOOL
1T CAUSED WHEAT TO ADVANCE AL
MOST A FULL CENT.
Corn Took a Higher Range on Ac-
count of Excessive Heat-Oats
Higher, Provisions Weak.

CHICAGO. Aug. 9.-Higher cables. good
export engagements and rains in the
Northwest gave a firm tone to a small
wheat market to-day. September closing
at an advance of %Q%c. Corn was helped
by continued hot weather and closed &c
higher. Provisions declined a little for
pork and lard, ribs closing unchanged
Wheat started with a material advance.
September at 76b@76sc, as compared with
yesterdays closing price of 75%c. Liver
pool quotations. always an important fac
tor in this market, showed an unexpected
advance of %d%d, and this strength was
reflected in the opening here. There was a
moderate buying demand from local shorts
at the start, but the advance did not re-
suit in any pronounced increase in the vol
ume of trading, and after the first few
minutes prices dropped a little under real
izing and selling by prominent commission
houses. For most of the forenoon, in fact.
the tendency was toward lower prices.
traders apparently seeing no profit in
wheat at 76c and over, and on one or two
occasions the September price was forced
down to 757sc. Most of this selling was in
the nature of realizing by traders who had
bought earlier in the week. but it was
| never heavy enough to cause real weak
ness. The market, in fact, was for the
most part exceptionally dull. Late in the
session a firmer tone was developed when
| reports showed that another good days
| export business was being done, and prices
gradually recovered. AT the close Septem-
Der was quoted at 761sd76Ac. Northwest
receipts were 233 cars, against 225 last week
and 126 a year ago. Chicago receipts were
266 cars, AZ of contract grade. Aggregate
primary receipts were $4,000 bu, compared
with 624,0 900 blu a year ago. Shipments from
primary points, however, We're fully as re-
of wheat and flour. amounted TO 13O. coo bu.
Over $50. 900 bu wheat We're reported worked
for shipment here, and the seaboard re-
ported engagements of rs loads.
Corn was very dull, but strong and higher.
The continued hot, dry weather West, and
the conviction that unless immediate relief
came heavy damage would result, was the
main factor in the strength. A prominent
trader who has been through Nebraska
was very pessimistic in his views and was
a moderate buyer all day. Business was
| largely local. Receipts were 167 cars. Sep
TENDER ranged from CSC to 3SssQ3SAc. and
closed &c higher at $3.50.
Oats were quiet, but firm, the market
being influenced by the strength of corn.
Offerings came principally from elevator
people, who sold against good country ac-
| Ceptances. Buying was largely professional.
| Receipts were 397 cars. September ranged
from 21%c to 22BQ22Ac, and closed $Qhc
Il HlSHS at A21sQAE4c.
Provisions were dull almost to the point
of stagnation. There was a generally easier
tendency, especially during the morning,
heavy receipts of hogs and lower yard
prices having a depressing effect. There
was some recovery from the decline. The
cash business continued good. AT the close
September pork was 21ac lower at s11. rs,
September lard SC lower at Sc. 771z, and Sep
tember ribs unchanged at S7.15.
Estimated receipts Friday-Wheat, 2+0
cars; corn, $50 cars: oats, $50 cars; hogs,
10000 head.