The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-08-09
ALL PRODUCTS WEAKER
FOREIGN NEWS AND CHICAGO HEAT
SENT WHEAT DOWN.
Corn Lower More Favorable
-Provisions Slightly Lower.

CHICAGO, Aug. S-The weather was
again too oppressively hot for traders on
Change, to-day. and all markets dropped
from the lack of interest. Wheat closed at
a decline of &c, corn closed s4Q7sc lower;
oats, HGAc lower and provisions a shade to
10c lower.
Wheat traders were not looking for
lower cables to-day, following the sharp
advance yesterday in this market. and
when Liverpool reported a decline of I'D
the effect was marked Opening prices in
Liverpool showed decline of Adssc. and
another good sized fraction was knocked
off the price before the session had pro-
crossed very far. Liverpool reported that
the decline there was due to improved
weather conditions in England. AS there
were no especially bullish features in the
domestic conditions, and as the weather
was too hot for traders to take much in
terest, the market, after the first half hour,
degenerated into skirmish between
scalpers with a perceptible undercurrent
in favor of the selling side. What little
support the market did receive was chiefly
from local traders, outside interests being
apparently entirely absent, and the market
ruled heavy until the last hours trading
when it became really weak. Selling pres
sure by those who were on the buying side
yesterday became heavier, while there was
no increase in the demand. Following the
opening decline TO 75s4G75sc, September
eased off to 751adl751sc. 1t recovered slowly
to 76c, which price was reached in one or
two minor transactions, and then gradually
declined, until shortly before the close the
market touched 75Ac. The close was heavy
at 75ssc. Northwest receipts were 246 cars,
against 236 last week and III a year ago.
Chicago receipts were 200 cars, so of con-
tract grade. Aggregate receipts at primary
points were LA, 600 blu, compared with $685.
900 blu a year ago. This heavy increase had
some effect. Atlantic port clearances, OF
wheat and flour, amounted to 10000 blu.
Foreigners were declared good buyers at
the seaboard, but figures on engagements
were not given.
session. The market was affected by the
favorable weekly crop reports, which be-
lied the recent damage complaints, and by
reported rains in some sections of the corn
belt The late weakness in wheat also had
its effect The bulk of the light trading
was largely in the way of liquidation and
largely by local holders. Country accept
ances were light. Receipts were 1S7 cars.
September ranged from 373sc to 3S1sc, and
closed %67sc lower at 37%c.
Oats were dull but comparatively steady.
in view of the weakness in other grain
markets. slight decline took place in
sympathy out SelnnS pressure was not
heavy. Elevator interests were the best
sellers. The outside demand improved late
in the day, though not much business was
done. Receipts 332 cars. September
ranged from 21slc to 21bQ22c, and closed
k0Ac lower at 21%c.
Provisions were almost at a standstill.
The grain weakness had some effect early,
causing enough local selling to depress
prices a little all around. Packers were fair
| buyers against cash sales, all reporting a
good cash demand for meats. At the close
September pork was 10c lower at s11.7715
September lard 215c lower at s6.S212, and
September ribs shade lower at $7.l5.
Estimated receipts Thursday: Wheat, 100
cars: corn, 233 cars; oats, 400 cars; hogs,
| $4,000 head.