The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-06-29
FURTHER DECLINE In GRAIN
Combination of Promising Weather and
Silver Collapse Aided the Slump.
Another Batch Of Failures Helped in the De-
probation, and While There Was Plenty
of Wheat for Sale Buyers We're Few.
TRADING AT CHICAGO.

Wheat Lost 7-Sc, Corn lie, Oats Lee. Flax
seed Jumped DC and Pork Held It's Own.
CHICAGO. June 2S.-Brilliant weather
and the silver collapse was too much OF q
combination for grain prices to-day. Com
pared with last night wheat shows loss
of 80 for July and from lac to $50 in Sep
TENDER. the greater decline in July repre-
senting just so much added to the carry ing
charge. Corn lost 10 per bushel and oats
1ac. Provisions were firmer for Septem Der.
but weak for July and the carrying charges
are more onerous than ever. To carry pork
two months costs S1l0 per barrel. There
was jump of five cents In the price OF
Il axseed. The Illinois Seed Company owns
practically all the seed in store. hich only
amounts to about 100000 bushels. compared
with S,0IS,55S bushels year ago. Not
enough people are interested in the lax
market speculatively TO create @ sensa-
ton. but In other respects all the elements
of a sen sati0n are In existence.
Nobody seemed to want wheat. The
pressure to sell July was unusually urgent
and the discount on September widened to
51sc, against 4esc few days ago. This
naturally created the impression that there
was a good deal of July wheat not cared
for, and that money was not SO plentiful
as II was thought 1t was q few days ago.
ALI the crop news seemed more favorab BILE.
harvesting 10 becoming more general and
cables were easy. The failure of q trust
company at Minneapolis aud rumors of
other failures elsewhere added TO the bear
ish feeling. Not only were local people
free sellers. but there were heavy selling
orders from the Northwest and from ST.
Louis, while the buying WAS slow and eau
lions. Cudshy, Orr. Logan and Kenneth
HOPKINS were leaders on the selling side,
and shorts were the principal buyers. The
market reacted slightly on Bradstreets re-
port OF u big decline In available supply.
The opening was about Is d0 Csc lower. ruled
weak and prices further declined 34c for
July ana lac for September. held steadier
and the closing was 1sO4c from the bot
tom.
The very favorable crop reports and
large receipts. together with the action of
wheat, all tended TO depress corn. Opening
trades were at Is "a &C decline and under a
moderate selling pressure and lack of de-
mand the market gradually sold off % 0 rs
more. AT the decline the demand improved
little and the market held steady. AT
the close 1T had lost 101lsc.
Offerings of oats were liberal The best
buying come from Shorts" Prices re-
ceded Is O lac and closed at about the
bottom. There was large advance IN the
price of f1axseed. occasloned by bad reports
of the growing flax crop In Dakota. and the
smallness of the stocks here. The shorts
became alarmed, and one firm practically
owning tie entire stock here. they were
able to get their own price for it. the re-
suit being al advance of sc per bushel since
yesterday. This can scarcely be called q
corner. but the result to people who have
sold flax short amounts to the same thing.
Provisions were only slightly changed
from last night after many fluctuations
within q moderate range. The feature was
the purcha of lard and ribs by Wright
and the packers Trade was. on the whole
light and spssmodlc.
Estimated receipts for tomorrow are:
Wheat. so cars: corn. $40 ears: oats. 240 cars;
hogs u, 000. Freights were duI. Shippers
held off and only bid 1Ao for wheat and 10
for corn to Buffalo. and charters for wheat
lao. Through rates. lake and rail, to New
York were lower ut 7hc for wheat aud &c
for corn. The leading futures ranged as
follows: