The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-09-25
WHEAT SOMEWHAT WEAK
OTHER GRAINS, HOWEVER, SHOW
GOOD COMPARATIVE STRENGTH.
December Whent the Only Cereal to
Closing at Small Advances.

CHICAGO, Sept 24-Weakness prevailed
in wheat on the Board of Trade to-day
and when II was found that manipulation
in September was apparently at stand
still more attention was paid to natural
influences, which had a downward tenden-
cy. September wheat closed unchanged.
while December was NC lower. Corn
closed higher, with September up 1c and
December SQ1kc better. December oats
were Sc higher and January provisions
closed from 121kc to 15c higher.
The general impression In the wheat pit
was that September shorts had all covered
and the market early was weak. Latter
in the session there was talk of large
spring business at Duluth, which. COM
bined with the strength in corn, brought
about a slight rally. The same interests
that have been active In buying Septem-
Der were good buyers to-day of Decem-
Der stuff. The principal factors were fine
weather in the Northwest. with liberal
receipts in that section and selling by the
Northwest here. An estimate on the Rus
sian wheat crop of 540,000 600 Blu, the larg-
est on record, was a weakening factor.
September opened unchanged to &c lower
at 1870 to SOC, sold down to 7Sc, rallied to
S21zc and closed unchanged at soc. Decem-
Der opened shade to hQasc lower at 6sssc
to 69lzQ69asc, ranged between 69c and $40
69Asc, closing kc lower at 69sq6shc.
Primary receipts were 1,659,000 bu COM
pared with 1.3l30O0 bu year ago. Clear
ances of wheat and flour were equal to
69l 900 blu. Minneapolis and Duluth re-
ported receipts of SAT cars, which, with
local receipts of lbs cars, none contract,
made total of 9S5, against 951 last week
and 1853 year ago.
After a slight decline early in the day,
corn was strong in spite of the weakness
in wheat. Free selling by leading COM
mission house was the cause for the early
weakness. Excessive rains throughout the
corn belt, together with light receipts, were
the main bull influences. There a
good demand from leading longs, while
shorts covered freely. The opinion seems
to be gaining ground that shorts in both
September and December will have con-
siderable trouble in getting contract stuff
to fill orders. September opened &c to &c
lower at 60asc TO Gle, sold up 10 6215c and
closed 1c higher at 62Ac. December opened
unchanged to NC lower at 447sc to 45lsc.
advanced to Acc, closing asTkc higher at
45i1Q45ssc Local receipts were 2SS cars.
- contract.
There was strong undertone in
oats although trading was light. A good
demand from shorts with but small Offer
ings was the Strengthening factor. Wet
weather and light receipts also added to
the strength. December opened unchanged
at 30Ac, sold up to 31ssc, reacted slightly.
closing asc higher at 3lBc. Local receipts
were 127 cars.
Provisions ruled firm and for the most
| part of the day prices were higher all
around Commission houses bought jan
uary pork, while packers were the sellers
January pork closed 15c higher at SIS. IS,
| after selling between $15.15 and $3.50; lard
| was 15c higher at SS.7711, and ribs closed
12hc higher at SS.15.
| Estimated receipts for tomorrow:
Wheat, $50 cars; corn, go; oats, AS; hogs,
1900 head.