The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-08-26

FLUCTUATIONS ARE ERRATIC. WITH
THE CLOSE L 1-sc HIGHER.
Corn and Oats Close at Advances, in
sympathy with the Leader-PrO-
visions Also show Gains.

CHICAGO. Aug. 25.-Corn led all other
grains in point of activity and price ad-
vances to-day. other markets were in
clined toward dullness and at times almost
no one was in the pits. Congestion in Sep
TENDER corn, with big decreases in local
stocks and fears of a natural corner were
the bullish factors. After an idle hour,
the other grains advanced in sympathy
and at the close September corn was 1lsc
up, wheat %Q7sc higher and oats &c ad-
vanced. Provisions closed 2lsql219c higher.
Corn was very cratic. the opening indi-
eating possibly bad slump on the oner-
ing of a small quantity of September and
on fairly good crop reports. Cables, how
ever, were strong; the outside markets, es-
pecially st. Louis. were higher on grain
reports from Iowa, and heavy buying by
prominent elevator interests followed. The
market gained strength rapidly on the con-
tinued small receipts and poor grading, only
TO lose part of the advance again as soon
as the longs wanted TO take a little profit.
Stocks OF corn here have decreased rapidly
during the past week until to-day there
were only 2OO5,O00 bu on hand. The gen.
eTal gossip was that If any OF the pig
shorts started TO cover their lines win
this, prices would jump. Naturally, fol-
lowing such a condition, the market ner-
Vously responded to every bid or sale. Sep
TENDER opened steadily at 5S$4G5Sl2c, dipped
TO $3.50, advanced TO 59&4c, lost nearly lc,
but rallied briSkly and closed strong, 1hsc
up, at 5Si2c. Receipts were IS cars. OF
contract grade.
Wheat was only fairly active at odd mo-
ments. Cables were lower and the weather
Northwest was favorable. The crowd was
inclined to be governed almost entirely by
conditions In the spring harvests but the
very poor grading prevented much selling.
September was hard to buy and was taken.
freely whenever offered. There was no
good advance, however, until corn showed
good strength and the cash demand was re-
ported improved. Later the Northwest
bought fairly and then, on excellent sea-
board clearances, prices made good gains.
Outside markets showed a better tone. the
Southwest had a good sample trade, and
Duluth sold for export. September started
1sc lower to &c up at 1156p17sc and, after
selling at 7211c closed strong. 4Q7sc high
er, al 12ssq12l2c. Local receipts were 261
cars, two of contract grade; Minneapolis
and Duluth reported 400 cars, a total of
67S, against 6S7 last week and 975 year
ago Worlds shipments bullishly
smaller than expected at 1000 bu, against
9,473.000 last year. Primary receipts were
LOO, 600 blu, against 1869 600 last year. Sea
board clearances in wheat and flour equaled
$4,000 blu. Breadstuffs on passage increased
1900 blu.
Oats were weak early in the day, on fair
selling. Trade was dull, but when corn
advanced the bullish factor of every light
grading had its effect and prices advanced
poets were good. September sold from
| 33Aq33ssc to S2Ac, rallied to S37sc and closed
stronger, CSC up; at S$$4c. Receipts were
296 cars, only eight of contract grade.
Provisions were fairly active and strong.
! Higher prices for hogs a very small
run, and good support early by pack
ers were the bullish influences. Toward
! the close profit taking brought a slight
! dip, but September pork closed 1212c up, at
! $l6.92l3; lard 211c higher. at Sl0.S71a, and
| ribs 1Oc up, at 5000.
Estimated receipts for tomorrow:
| Wheat. 460 cars; corn. IS cars; oats, $50
| cars: hogs. $4,000 head.
| Leading futures ranged as follows.