The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-09-18
FIRM TONE IN CEREALS
ABSENCE OF OUTSIDE DEMAND PRE-
VENTS A GENERAL GAIN.
Fears of Frost and Expectation OF
Huge Crops Contend for the Mas
tery-Rafd en- Hog Products.

Sept. 1.-THE genera tone IN
grains to-day was firm. Predictions of
frosts to follow the recent mild weather
were a potent factor. Trade, however, was
still largely confined to the local crowd,
especially in wheat and oats. and, mas
much as these pits ruled dull, price changes
in them We're small. Corn felt the weather
most and was active most of the session.
AT the close September wheat was nc low
er. December wheat kc up. December corn
1ac higher. September corn sc higher and
December oats &c up. Provisions felt the
effect of a raid on October pork and closed
sc higher to SOC lower.
Rain In the Northwest, with much cooler
weather predicted, was the cause Of a
highe opening in wheat. Cables also were
steady in the face of a depression here yes
terday and were construed bullishly. The
fact that the receipts Northwest were
much increased over last week and a year
ago was offset by the expectation that in
consequence of the rains the spring move
ment once more would be curtailed. Gables
advanced a little as the session moved on
and the export business was good, both Du-
luth and New York reporting twenty loads
taken and Buffalo 100, 900 bu. The fact that
the outsider was not in the market worked
against good gains. Much Of the time the
pit was almost deserted. Price fluctuations
were extremely narrow and little business
was done. After the first hour interest
died out. September wheat sold between
73c and 72Ac and closed easy, Nc off, at
12Ssc. December sold from 6sc to 6s1lc,
dipped TO 6Shc and closed steady, &c UP, at
6sc. Local receipts were 200 cars, eight of
contract grade. Minneapolis and Duluth
II " Nh cars "a MA nf az Qin a
last week and 13 q year ago. Primary re-
ceiptS were 1,453,G0O blu, compared with l.
$4,000 blu last year. Seaboard clearances
In wheat and flour equaled 621, 900 bu.
There was but one broad market to-day
and that was in corn. Frost talk was the
principal bullish incentive. OF late there
because of talk of big crops. Many specu-
iators believe that with the end of the
month the drastic effect of last years big
crop shortage will have disappeared. That
was one of the reasons for selling on hard
spots. Many other traders, however. have
been figuring on the big shortage now out.
De l5.Wo:OW hu. 1t is known that cribs
along the country railroads are almost
empty, and have been for nearly a year.
Where there were IL. 450, 600 blu in the visi-
BILE supply a year ago, there are but 1000
go bu now. Chicago has practically the
only corn supply, and that amounts to
ABOUT Looo,O0 bu. Farmers are inclined
to hold much of their better corn. Much
of the receipts for some time to come are
expected TO be soft. All these conditions
nave made bears cautious and have induced
forecasted for tonight these factors once
more came to light. Most of the middle
West to-day was wet. General and inhu-
entail buying followed in December and
May. and good upturns resulted. Septem-
Der was not SO active. and at times showed
q dropping tendency. The Washington crop
bulletin reported much damage in the
northern portions of the corn belt. Yet
Notwithstanding the frost talk there was
all the time present q feeling that a bic
crop was forthcoming and this put a cheek
from 43hc to 44a441sc, and closed firm 1bC
up. at BbQAc; September sold between
5S@5S14c, and closed firm, &c higher al
6s%c. Receipts were l62 cars, 80 Of con.
tract grade.
Oats ruled steady and showed no i'm
portant changes in prices. There was
some buying at times for manufacturers
and fair support by a leader. The wet
strength in corn. December fuctuated
only Ac and closed hc up, at 3lhc. Re-
ceipts were 162 cars.
There was good activity in the provision
pit. Hogs were lower, having fallen off
30 cents in two days. This induced some
outside liquidation, but a good support was
under the market until late In the day
When support fell off there was a Hood OF
offerings of October pork, and prices in
that product fell of from SIG. 67h to SIG. q
This worked against all other prices. and
this action is thought to have been for the
purpose of bringing nearby and distant
options nearer together. At the close Jan.
uary. pork was SC higher, at $3.50 while
lard closed Sc down, at IS. TN, and January
2Ac to SC higher, at &.55. October rib
were 20c lower, at $l0.05, and January 21bC
higher at $3.50. -"
Wheat, $50 cars; corn, 375; oats. 1855: hogs
q 900 head: