The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-06-26
Review Of the Local Grain, Produce, and
Provision Markets.

Provision Markets.
INDIANAPoLIs. June 25.
The general merchandise markets opened up
to-day tame with no points worthy Of special
mention, and Judging from the reports at other
commercial centers, dizziness is the character
ist1c Of the markets generally; yet aside from
| the provision and grain markets, there is a
| steadiness to prices which indicates that the
business done is on a sound basis, and that with
reasonably fair crops the fail trade will begin
early and be quite satisfactory. The New York
Shipping List, of the ed, says of trade
| that the markets are generally quiet, with not
much change IN prices, though the downward
movement IN provisions and grain that followed
the collapse in the Chicago lard corner has not
been arrested. The current prices for wheat,
corn and provisions pay the farmers a very good
profit, and there is scarcely any manufacturing
or mercantile business in this country to-day SO
profitable as raising these products There is no
good reason why the great mass Of working
| people in this country and Europe should have
- pay extravagant prices for staple articles of
food for the sake of enrichng SET of spectators
| who seek to ignore the law of supply and de-
mHdd. There Is a fair prospect that the decline
Ia these staples Will result in guekeniBg of the
export trade, as 1t is now apparent that the do
nestle supplies are altogether too abundant for
home consumption. The crop reports from the
West are for the most part more encouraging
| than they were last week, while those from En-
| rope are OF rather a mixed character. The ae-
counts from Roumanla are gloomy Russia will
| look forward to a bad failure. Nor are the ac-
counts from France and Germany favorable
The prospect, then, is that We shall have
good market for all the wheat that we
can spare, unless prices put too high. The
Hour and grain markets have for the most part
| shown an easier tendency. Lard has recovered
portion OF the decline in the early part of the
week, but closed weak. There have been large
sales for export, freight engagements during the
last three days covering fully 10000 tierces,
| chiefly to Hamburg at the rate Of one mark
The sales In the West for export must have been
very large, as special dispatch reports sales Of
over 81 ,250,00O worth Of foreign exchange in
Chicago during the week, mostly against lard
shipments The cotton market continues dull
and depressed. Wool and woolens are fat. To-
| bacco is inactive. Spirits turpentlne and com
mon rosin are scarce and frmer. Hides are
qniet and steady, and leather active and firm.
The markets for most imported commodities on
which the duties are to be reduced on the LIST
prox are very quiet, and prices for prompt de-
livery are largely nominal. Ocean freights are
generally firm, but not active, SO far as the
more prominent trades are concerned. Raw su-
gar is in better demand at steady prices; refined
is in fair request without quotable change. Mo-
lasses is duh and nominal Gomez is firm and
higher. Rice is dun. Tea 1s steady.
GRAIN.
The local grain market opened up at dull
prices and weak, and continued so throughout
the day. The Board of Trade Price Current says
of wheat that it is dun and weak, in sympathy
with Chicago and seaboard, with prices about
Sc off There being no milling or shipping de-
mand the tone of the market is perfectly nomi-
nal. Futures are dull and featureless. We
quote:
No. red track. &lO7
Rejected track. ACKNOWLEDGEMENTS. 90
Corn-Dun and lower A few bids we're made
for spot delivery, while sellers were scarce and
indifferent. No trading In futures. Chicago and
seaboard ,aTe both lower. We quote:
No white, track
yellow, track. .....................49
High mixed, track
Mixed, track 40
Rejected, track. Observation-Disclosures
No. 2, track. ...........-........45
0ats-Very little interest," was manifested in
this line to-day, receipts being comparatively
We quote:
Mixed, track OBSERVATION-DISCLOSURES.