The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1891-07-10
TRADING AT CHICAGO.
Heavy Receipts of New Wheat Overcome the
BuIi.h Heua fraIu Abroad

deavy hecefpts OF New wheat overcome the
BulIish News from Abroad.
CHICAGO, July 9.-Wheat was dull and
weak to-day and most of the business that
was accomplished was of a local character.
The preponderance OF the news favored the
bear" side. Liverpool reported prices I'D
lower. London quoted cargoes to arrive
within one month 8 pence lower, while
those due III two months were ] shilling
and q pence lower. The weather through
out the districts where the harvest is in
progress was fine. The Cincinnati Price
Current in its weekly summa of the crop
situation reported all the recent favorable
indications fully maintained, and that
threshing was being pushed by the farmers
in order to get the grain quickly to market
in order to take advantage of present
values. This led to a belief In heavy re-
ceipts at an early day and started holders
to unloading and stimulated the "short'
selling. The Price Current the
deficiency In the European wheat crop at
s0.OO0.OOO bushels. but says that with our
big crop no greatly enhanced prices can be
e. expected as the W orld's supply will probably
fall short" OF the ordinary aggregate con-
sumption only 3 per cent. ct. Louis reported
$500 bushels of new wheat received there
to-day. ToledO's receipts were also report
ed heavy, while Chicago got elghty-two
cars OF new wheat, with sixty-three OF them
on contract. ALI this made a " esk market,
and prices finally made a sharp decline.
The export movement. however, was re-
ported liberal, New York alone sending out
over 10000 bushels of wheat and -four,
while the three ports cleared over GU. 1000
bushels. At the start the buying by Logan
~ White On New York account kept the
market tolersbly steady for a time. Then
St Louis began TO sell. mainly through
Logan, and Partridge began to put out a
liberal short" line. The market rallied
some about noon on q report that sixty
loads had been taken at New York for ex-
port Henry Clews sent q telegram saving
that there was no room to doubt that the
Russian wheat crop would show a large de-
hc.ency. Late cables reported some decline
at Paris. but prices higher at Berlin. and
New York wired q good continental de-
mand. with uufavorable weather in Russia.
heavy receipts for Tomorrow.
indicating the for arding of some of the
new crop. proved n cheek on any decided
"bulr movement. December opened at
s9lsc. eased off some. but held for a long
time between SS7sc and e9lsc. then broke To
SSl2c, recovered to S9lsc. held steady for a
time. advanced To s93sc. but weakened
again. and closed at Soc.
Corn was weak from the start. and Sep
TENDER sold oil nearly lc from yesterdays
close. The warmer weather. II improved crop
prospects and the weakness In wheat were
weakening factors. The offerings were
generous, and, while early sales were very
close To the resting price yesterday, the
weakness increased and the buyers re-
duced their bids. Cables were reported
lower and the cash demand less active and
at lower price. In the afternoon the mar
ket was a triffe hrmer. in sympathy with
wheat, but eased off some toward tho
close September started at 52isc. sold ct