The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-06-19
WHEAT ADVANCED &c
GENERAL CROP AVERAGE FOR SIX
CENTRAL STATES SIS PER CENT.
Handsome Prbfits Led to steady Buy
ing and Helped I'm Making the
Chicago Grain Market Firm.

CHICAGO, H.. June 1S.-The recent pam
icky selling out of long wheat gave place
to-day to some confident buying. The re-
suit was an advance OF &c per bushel for
July and September. the two deliveries
maintaining their 1lsc distance at the start.
Corn was strong. due to the diminishing re-
ceipts, and oats firm because OF firmness in
wheat and corn.
Buyers for July wheat early were plentiful
at 7ic. and, finding little for sale at that.
bids were at once advanced to 74ssc. Before
the demand was fully satisfied 7i5sc was
paid. but that succeeded by decline.
which, by 1910 o'clock, had brought the
price down to 735sc. The strength at the
opening was due to slight improvement in
the Liverpool quotations. that being sur
prise, as a decline in that market had
been expected as the result Of yesterdays
weakness here. private dispatch from
Liverpool reported prospects for French
crops becoming less favorable. and that was
accepted as an explanation of the firmness
of the English markets. The heavy rains
which fell in different sections OF the coun-
try were construed unfavorable to wheat,
whatever benefit they might be to corn and
oats. Reports from the seaboard that there
was demand from the European continent
for No. red winter wheat for shipment re-
awakened the inquiry from buyers here and
caused July to rise once more to 741ac. The
second cablegram from Liverpool quoted
the market there firm 81 at so Id "a ady Van
strength Of the late Liverpool cables caused
an advance from 74c.to which July had
again Ieacted-up to 74S4c, and II was , once
Bradstreet's figures the visible caused
another slight diversion in favor OF the
bulls the price OF July rising from o about
Judd Farmer was out with report that
Investigations covering 400 counties in the
principal wheat States east OF the Rocky
mountains showed that winter wheat has
declined seven points between May q and
June 10. General average Of Ohio, Michigan,
only 55 against 90 on May. %. Rains have
improved oats west of the Mississippi river,
to support the market near the close, and
about the best prices of the day were cur
rent within few minutes from from the , close e.
! the first fifteen minutes of the session were
| the lowest of the day, and the rates cur
rent at the finish were the hignes t. cc he
| firm the impression that the corn is already
practically all in that is coming from farm
Of the chief reasons for the strength. Two
| of the leading specialists in corn were
heavy buyers. and the general tone was
| favorable to the course which the market
took. July opened at 491ac. as against $3.50,
| the price it closed at yesterday. 1t first
| rose to 1871 1910, dropped back to 4s1sc,
and at the close was wanted at J0Ac.
| Oats only fairly, active. Fluctuations
were confined to half-cent range, and in
| fuenced entirely by the movement Of
| wheat At the close prices were at their
| high point, but only a small gain over
yesterdays latest quotations was scored.
| Provisions were little higher at the OPEN
| ing, but soon settled back to about the
| level of yesterdays closing prices. and near
| the end they were shade lower than at
| the corresponding time yesterday.
Estimated receipts for to-morrow-Wheat,
| 40 cars; corn, 80 cars; oats. 127 cars; hogs,
| 1900 head. Vessel business was slow at 1c
| for grain TO Buffalo.
| Leading futures ranged as follows: