The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1893-07-26
THE MARKET REPORTS.

CHICAGO. July 24.-There was a stir
ring up of the whole grain trade today.
For the first time i'm three months great
bull movements were started in all the
pits. Bullish sentiment has been so much
suppressed for weeks and the trade was
so largely oversold in all markets that
the turn in the tide was of a sensa-
tional character.
The wheat trade had the Siam war
cloud. the light Indian shipments, the
promise that farmers will not ship much
new wheat at present prices, a decrease
of nearly 100000 in wheat on ocean
passage, following clearances last week
of over 5000. 900 bushels. and more than
all this, reports of fresh damage to
spring wheat in the Northwest from the
heat. The bulls seemingly let themselves
out, regardless of any after clap. The
market was given a twist of cents for
the day, closing at the top, at 6S1Rc Sept.
and 74%c Dec. First sales were made
at 5s@1c advance, and after some fiuctu-
ations advanced 1ac more. Shorts"
were anxious to cover and there was a
very strong feeling developed with but
little wheat for sale. Then followed an
easier feeling, influenced partially by
the reports of rain in the Northwest and
cooler weather, and also by the decrease
in the visible supply, which was rather a
disappointment to operators. Prices re-
coded &c. then held steady for a while,
but again advanced. this time 1c, closing
at the top. The scramble in corn and
oats began Saturday, when prices were
marked up 1c on reports of damage from
dry na G
were even more alarming. The weather
was hot everywhere and crops in a Seri-
Gus way in many sections sensational
bull market started. The excitement
lasted to the close, when the September
price was &c up and the May price
nearly 21ac up at 415sc. Shipments for
one day were nearly 100000 bushels,
and stocks light The visible supply de-
! creased 1,243, 600 bushels and the country
buyers added terrors to the shorts, who
were on the run.
There was a good trade in oats and a
stronger market. The Improvement was
due to the continued reports of rust in
the West to the advance in corn and tC
the covering by shorts. The market
| opened strong at nearly lie advance, and
after frequent fluctuations, closed strong
at about the top, at a net advance OF
| 1AG1ssc.
The provision market was without
much change from Saturdays closing
| prices for a long time. but finally the
| managers of the deal saw an opportunity
| in the great strength of the grain
markets to give the shorts a gentle
| squeeze toward the close, and the shorts
| themselves did the rest. The closing
| prices show gain in September and Oc-
| tober lard of 271ac, and in Sept. ribs OF
| 321ac. Ribs were the most active of the
articles traded in during the greater
part Of the day, but lard woke up toward
| the end and led in the activity. Pork
was left alone and closed without a
single trade. being nominallly worth
| about the same as on Saturday.
Freights were easy with a moderate
| demand for vessel room at 1850 for
wheat and 1&c for corn to Buffalo, and
| 2%c for corn to Kingston.
Estimated receipts for tomorrow
! Wheat, 220 cars; corn, $40 cars; oats, 81
| cars; hogs, %. 600.
The leading futures ranged as follows:
Articles Open. High. Low. Close