The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-10-12
CORN Is MOVING UPWARD
SMALL IMPROVEMENT IN CONDITION
Is THE CAUSE.
sympathetic Effect Seen i'm Wheat,
visions Make Small Gains.

CHICAGO. Oct. 1.-The government re-
port Of a slightly improved condition of the
corn crop was a decidedly bullish factor
in an otherwise bearish market to-day,
affecting wheat as much as il did corn.
December corn closed 1zc higher, wheat &c
advanced and oats a shade depressed. Pro-
visions closed from sc TO 1212c higher.
Considerable activity Immediately fol-
lowed the opening of the corn pat, induced
largely by the disappointment among the
bear clique. who expected a decided ad-
vance in the official crop report. At the
close yesterday this advance was predicted
as at least 5 points, and bears had sold
freely in consequence. When, however,
October's condition was reported at but 5l.2,
as compared with September's 5L7, quick
covering was the result. December opened
$sq5sc higher at 56sq57c, partly on higher
cables. Several prominent longs began
profit-taking at this early advance, and
December wavered for a time under the
pressure and sold off TO 561zc. This early
loss was soon regained, however, and prices
rapidly rose to 571sc. At the close December
lost somewhat on continued liquidation, but
closed firm, 1Ac higher. at $3.50. Receipts
were 30 cars.
Wheat ruled fairly active and higher,
December opening Bdhc higher on i'm
proved cables at 691zQ69%c. Statistics, if
anything. were bearish. Receipts were still
very liberal, though falling off somewhat
in the Southwest. Clearances were small
and the export demand was sluggish. In
spite Of those influences wheat gained ma
terial strength, principally from the corn
report, and rose steadily throughout the
session, on covering by shorts. There was
some outside demand, which also helped,
trihe and closing strong, Ac higher. at 700.
Local receipts were 16T cars, one OF contract
grade. Minneapolis and zulu reported
SIG cars, making a total for the three points
OF lob cars, against LOSS last week ana d4
a year ago. Primary receipts were l,H03,OW
blu, compared with last years $500 Sea-
board clearances. in wheat and flour, We're
EOS, 600 blu. Argentine shipments for the
week were zoe, 600 bu, against $4,000 the cor
responding week a year age The sea-
board reported IL loads taken for export.
Oats were only moderately active early
in sympathy with the Improvement in trade
in the other grains, falling off to a dull and
narrow market later in the day. There
was some strength at the opening, follow
ing corn, but this met with free offerings
by the outside. and the moderate country
movement continued easing the market.
December sold between 32sc and Ss435Ac,
and closed a shade lower at S5kQ35ssc. Re-
ceipts were l91 cars.
An easy market In provisions at the OPEN
ing resulted from a renewed selling for the
local and outside account. Prices sagged
rapidly for a time, in spite of a strong hog
market but on q development of a con-
siderable local demand January products
reacted and held steady. Pork closed l212c
advanced at S15.05, lard Es2 up at $S.S112,
and ribs &c higher at S7.5.
Leading futures ranged as follows.