The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-06-28
CROP REPORTS ARE BETTER
Timely Rains Benefit Wheat and Bears
Find Themselves in Control.
Price of the Leading Cereal Reduced 5-Sc to
3.4c. There Being Some Notable Changing
from July to the December Future.
TRADING AT CHICAGO.

Corn I'm sympathy with Wheat, but Pork
Advances SOC Per Barrel.
CHICAGO. June 2Z-The people sold
wheat who bought it yesterday. Timely
rains. which were needed for spring wheat.
unsettled the bull sentiment At the close
July wheat was 34e and September $40 be-
low yesterdays closing prices. There were
some sustaining orders In pork and an adj
vance of about 500 per barrel. Lard aud
rIbe closed without change. Wheat at the
opening was about h0a4o lower than yes
terdsy's closing. and prices receded ls0Ac
more. then ruled stronger aud advanced q
"a sc. but again ruled weak and declined
s4c for July and zsc for Septem Der. held
steady and the close was ls0 40 from the
bottom. The December future ruled COM
paratively stronger than the other futures.
and closed about lsc lower. There were
reports of cooler weather and rains In
the Northwest and dispatch which stated
badly damaged as haa been reported.
Cable advices were received which said
that there was some Improvement in Euro
pesn crops, and that the yield would be
larger than expected. Part OF the trading
to-day was in the way Of closing out July
and replacing by taking December. which
accounts for the widening out of the
premium for the latter future. There were
reports of small receipts of new wheat
which affected the market some. ST. Louis
reported three cars and baltimore $500
bushels. Threshlng is progressing. On the
break some of yesterdays short sellers
began to buy in and gave the market q
little show OF activity and strength. The
news came from New York that arrange
ments had been made to import g. 0OO. 600 in
gold from Europe to relieve the money
stringency. The effect of this was to cre-
ate more confidence and increase the de-
vance of sc. But double dullnsss fol-
lowed. lasting throughout the remainder
OF the season.
Corn was easy at the start. first trades
being OF q fraction. and the market sold
down Ac soon afterwards. At the decline
ing around that prominent trader w as
picking up q good deal of September Of
ferings fell of considerably and the price
advanced 1504c. but the arrivals for to-
morrow CAME in heavy at 440 cars, and the
price again weakened Il @ssc, rallied and
ruled easier, and at the close had lost II
03sc.
In oats there was steadier feeling early,
prices advancing IS "a lao. but later reacted
u "a sc and closed quiet at about the same
prices as on yesterday. Harvey was large
buyer of cash oats
Provisions opened frmer OF slight ad-
vance in prices because of the receipts of
about only $4,000 hogs. instead of Il. 0O0 as
estimated yesterday. There was declire
from opening prices due to the attempt by
the leaders In the market to unload at the
Improvement, but finding that impossi Bile
they desisted and bid for enough to pre-
vent break of any extent. Attention vas
directed to the receipts of hogs at Kansas
City and Omaha. which together amour ted
to 5000 head, and that led to the idea that
bigger receipts were to be expected here
In the near future.
FTeiyhts were dull with fair offerings of
vessel room at ESQ for wheat and lac for
corn to Buffalo. Estimated receipts for to-
oats. 2l0 cars; hogs. $4,000 The leading
futures ranged follows:
Options. IOpningl Highest L0west Closing.