The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-07-03
WHEAT CLOSED FIRM
EARLY WEAKNESS OVERCOME BY
LIBERAL CASH BUSINESS.
Corn and Oats We're Weak on Better
Crop Reports-PrOvisions Wound
Up at n Loss.


during the forenoon to-day, but became
firm OIL liberal cash business, winding up
with gain of sc in September and &c in
July. Corn was very weak early in the day
and 1t communicated some CT 1t to wheat,
and rested with net decline of &c. Oats
are &c lower for September ana provisions
a shade under yesterdays values.
Wheat opened without material change
since the close of the previous days ses-
sion. There was demand enough to absorb
the offerings for few minutes at between
71asc and nssc. but inside OF the next five
minutes the bulk of the early buying or
ders were filled and the bears still had
wheat for sale. Not only was there bears
wheat for sale, but when the market began
to appear short of buying orders couple
Of good-sized lines of long wheat which had
been carried for higher prices came on
the market and made prices slip of very
quickly. From 7lssc to 71ssc September had
declined to Tic about ten minutes after the
opening, with few sales at 707sc before it's
decline was arrested at that time. The
trade was light all forenoon and chiefly of
local scalpng character. The elevator men
had still some July wheat to buy, and they,
OF course .endeayored to buy it as cheap
ly as possible, showing such manipulative
tactics as usual The principal bearish fea-
lures OF the early news were the heavy
Northwestern receipts, the weakness of the
foreign markets and the light exports The
receipts at Minneapolis We're 60 cars, and
at Duluth 337 cars, or 406 cars In ALL The
days shipments from Duluth were a par
to to e reSeDts ne waE
quoted Id lower at first with little change;
Antwerp. ~ confines lower. and Berlin
the only Atlantic port which shipped any
wheat In the past twenty-four hours, and
the total OF wheat and -four together from
the small aggregate of 1872 900 bu. The news
from the Northwest apart from the heavy
receipts was rather in favor Of the bulls
wheat from the frost up there a week ago,
and some heads of wheat were being shown
here piueked IS, sou ,,hy Of Minneapolis
from the effect Of the frost 1t was also
remarked here that the temperature in the
Northwest yesterday and to-day was too
conveyed the impression that uneasiness on
the same score was prevailing where they
were experiencing the effect Of ninety and
over in the shade Thrashing returns from
the winter wheat fields were principally of
extremely poor yields. ST. Louis omitted to
repeat the good yields in the neighborhood
ious occasions were sent as a countereirri-
tant to the reports Of small returns. Re-
ports from Michigan and northern Ohio
heavy all forenoon, and II was not until aft
er September had declined to 7Olkc that it
ceased to. have an appearance of extreme
heaviness. 1t recovered from the latter
point to about the level of the opening fig
ures about half an hour from the close.
Bradstreet's visible supply statement caused
covered to 71asc. 1t showed the worlds
stocks only about 100000 bu less than a week
ago. which was considered unsatisfactory,
ness amounting to 70, ZOO blu here, 200 bu
at Minneapolis and $4,000 bu at New York
caused a frmer tone near the end and a
and &c over. The latest trading in Septem-
Der wheat was at 714Q71zc and in July at
1oQ1Olsc The spread has thus narrowed to
moment yesterday
Corn was extremely heavy until after the
e esnd Sd, receipts for tomorrow came to
the AFTERNOON recovery in wheat. it as
of the session. but could not make up all
It's early loss. AT the opening September
brought 46%e for a few lots. but there were
sellers at 1850 at the same time. 1t de-
cine ed to aSasc' recovered. to 46Ac and closed
good, and resulted in sales of about 100000
bu for export worked by way of New York
I've weak < feature sr OF the situation was that
Orleans in October at equal 10 Sic at the
point OF delivery. Receipts here to-day
Were were Sl4 ears, cars, but for tomorrow only sS
Oats were again active. and under con-
another decline of values. Trading was
more general to-day. although Schwartz,
Dupee & Co.. were again very conspicuous
with heavy offerings. The close showed a de-
cline Of 1ssc and sc for September and Nav.
while July held compare lively steady. Sep
TENDER ranged from 24ssc to 23kQ235sc, and
rested at 24G241sc.
The provision market was firm and higher
at the opening because of the days run of
hogs being only 1900 and their price higher
by from sc to 10c. The trading was not
very active, although the fluctuations might
suggest an active business. September pork
opened at 1920, sold as high as s12 As and
down to 1920. with s12.32ib the closing.
Lard lost. 07lac and. ribs O2iac of their
previous days value
Estimates for Wednesday: Wheat q
cars; corn, SO cars; oats 65 cars; hogs, &C.
coo.