The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-09-06
ALL CEREALS ARE HIGHER
FEAR THAT CROPS WILL BE DAM
AGED CAUSED PRICES TO ADVANCE.
Grain Receipts Light-General De-
Pork, Lard and Ribs Also Up.

CHICAGO, Sept. 5.-Grain spectators
became excited to-day oyer<th possibility
of frosts in the unripe grams tomorrow.
in spite of the fact that the weather map
indications were very favorable. While
conservative traders scoffed at the incon-
sistency with which the markets rallied
to-day, whereas yesterday they slumped
when frost was on the ground. the result
of the days trading was a good gain. The
probable reason for this was that the bulls
did not have very good plank in their
platform-that of chronic poor grading
of receipts at this point. At the close De-
cember wheat closed a4G7sc up, December
corn 1zG9sc higher and December oats sc
up. Provisions closed generally 10c adj
vanced.
There was a brisk demand early in the
wheat pit. largely from the outside. Com
mission houses bought literally and there
was good support under December options.
Much of the talk the bull side was of
the fear of frosts in the Northwest. This
was supposed to be the principal cause of
the upturn, but steady cables, lighter re-
ceipts and bad grading helped materially.
The sentiment generally was bullish and
there was no selling pressure present. Aft
er the early bulge the market was inclined
to dizziness and prices fuctuated very mar
rowly. September sold from nc to 72%c,
and closed &c higher at 721a@725sc. De-
cember started Ac to sc up at 6SAG6Sssc
and sold to 69c, closing strong, %QBc high
er. at 6S$4Q6Ssc. Local receipts were 15S
cars, one of contract grade: Minneapolis
and Duluth reported 400 cars. making
total for the three points of sos cars,
against 6l7 last week, and 1850 last year.
Primary receipts were 1,0S2, 600 blu, COM
pared with $4,000 bu last year. Seaboard
$4,000 bu. Argentine shipments duplicated
last weeks at 1900 blu, compared with
$4,000 bu a year ago.
Corn had a large trade early and the
market advanced strongly on general de-
mand induced by the weather scare.
Shorts wanted stuff, the outside was on
the bull side of the market and for time
business was brisk. Some reports had it,
however, that there was not much corn to
be hurt by frosts and after the first quick
upturn the demand fell off, locals offered
freely and prices dipped back somewhat.
Gables were steady and the weather map
was favorable for to-day. September had
fair advance. but not much of trade.
fro1 pushess was poor at faiF aa
and closed trifie firm at &c advance at
59c. December sold from 427sc to 431kc and
closed firm, 1zQ9sc UP. at 43Ad433sc. Re-
ceipts We're poor at Sc cars. only 4 of con-
| tract grade.
Oats were influenced largely by the same
conditions that helped other grains. Shorts
bid anxiously for September early on the
very. poor quality of receipts. Profit TAX
| ing late in the day brought recessions but
the close was firm. September sold to
$3.50 and closed sc up at 35lsc. December
sold from 3llsc to 31ssc and closed firm,
&c up at Slssc. Receipts were 292 cars,
5 Of standard grade.
Provisions felt the strengthening infiu-
| ence OF sharp upturn in hog prices.
Grains, were also bulish factors. Trade
was fairly active early but little selling
| on the bulge took away some of the gains
| January pork closed 10c up at SIS; October
| lard and ribs both closed 10c up at, re-
| spectfvely, $97A and $780,
Estimated receipts for tomorrow
| Wheat. 200 cars; corn, 1S5 cars; oats, 3St
cars; hogs, 1900 head
| Leading futures ranged as follows: