The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-08-29
0ATSRELATlVELY
OTHER GRAINS, HOWEVER, CLOSE
AT VERY MARKED DECLINES.
Changes Are from 1 Use Down In Corn
to lie I'D i'm Oats-PrOvisiOns
Also show Heavy Losses.

CHICAGO. Aug. 2S.-Bright weather gen.
orally was the bearish factor i'm grains to-
day All cereals suffered recessions the
start. on general and free liquidation by
longs, and for some time bears had free
rein. Later there something of a nat
ural reaction, especially in oats The close.
however was weak in the main. Septem-
Der wheat sale down, corn 1lsc lower and
oats re higher. Provisions closed off 159
32Ihc.
Wheat ruled weak and was active only
in spots. With lower cables and weather
the best that could be desired there was
a good amount of long selling early, and
prices took a quick tumble. There was
constant talk of a big movement of spring
wheat soon and good prospects for little
better grading. Active threshing of the
new wheat was reported under way. Fol-
lowing weeks Of adverse weather the sun
shine turned all the crowd to the -bearish
view and stop loss selling orders came out
After the break, however, there was good
buying al times September felt the most
strain because Of poor support. Late cash
business was fair. and the seaboard re-
ported thirty-eight Iesals taken for export.
In general the aspect of the wheat market
indicated that the big longs wanted to get
out of the market before it found lower
level, and the support was largely by
those who covered for profit. September
started 12Q&c lower, at 7O$sQ7Oisc, dipped to
69a4c and then huctuated narrowly. closing
weak and 7sc lower, at 6S7sq7Oc. Local re-
ceipts 239 cars, 2 of contract grade.
Minneapolis and Duluth reported 316 cars,
a total of 555, against 800 last week and
79S a year ago. Primary receipts
$4,000 Blu, against 1,243,OOO last year. Sea-
504, 900 blu.
Corn felt the effects of fine weather, low
er cables and reports of free offerings. Re
ceipts were still light - cars, one of
contract grade, but promises were for
much better showing. The crowd turned
uniformly bearish at the opening, and on
the initial slump September was at one
time &c depressed. Almost everyone in the
pit had stuff for sale. In general the spec
ulators In this pit thought manipulation
in September was at an end but a latent
fear that such might not prove the case
held this option somewhat nervous and
SUBJECT TO quick fluctuations on any def
mite news. Kansas City sent out conflict
Ing reports that plenty of corn would be
offered there within fifteen days, but that
new corn would not grade until Oct. To-
There was no doubt. however. that there
was selling pressure the Southwest
markets because of news of new offerings.
september sold from SIC to 5512c in the first
few minutes of trade. but rallied TO soho
on fairly good covering. Late fluctuations
were narrow and September closed weak,
| 11sc lower, at 55ssc.
Oats displayed the best strength of the
/ grains, and ruled strong after an early
! dip; The opening break was in sympathy
! with the other grains and on fine weather.
Excellent buying by cereal concerns, how
ever, put firm tone in the pit Shorts
| covered 10 some extent. and prices reacted
| sharply. September sold from 32s.c to 32I1c
early, advanced to $3.50 and closed firm
| 19c up. at 1880. Receipts were liberal at
| 263
Weakness in the hog and grain markets
| worked against provisions. Early in the
| day there was effort on the part Of
packers to support the market but free
offerings resulted from the general bearish
sentiment on the floor, and there were
marked slumps all along the line Sep
| TENDER pork, which sold at Sl717Ih closed
l5c down. at $685. lard lost 321sc and closed
| at s10.50, and ribs closed 221ac off at 50 971L
Estimated receipts for tomorrow: Wheat
215 cars; corn, 90; oats. 800; hogs, q. 900
| head.