The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-06-27
WHEAT HIGHER
SHORTS COVERING AND FOREIGN
BUYING SENT PRICES UPWARD.
Feeling ut the Start that q Decline
Would Follow, but Those Who
Sold fastened to Buy Back.

CHICAGO, June 26.-Higher cables, re-
ports of cash business at New York, and
liberal short covering, sent wheat up to-
day, September closing sc higher. Corn
closed Sc lower. and oats &c lower, provi-
sions making slight advances.
The general feeling just previous to the
start this morning was that wheat was
high enough for the present. and the action
of the market for about five minutes ap-
peared TO strengthen that conviction. In
side Of another ten minutes a complete
change occurred in the minds of the crowd,
which by that time became clamorous for
the grain for July and September delivery
at lie per bu over the price which a majority
had asked at the start. The two months
kept a distance apart of from 17sc to an
even &c per bu. July sold at the opening
at from 7l3sc to 7112c. and rose IN the time
referred to, to 72i2q72sc. September adj
vanced at the same time from 1850 to 7iSsc.
The slight downward tendency at the open
ing was on account of the cessation of the
rain in the Northwest and the reduction of
the temperature there to a point sufficient
for the growth of the plant without being
injuriously stimulating or promotive of rust.
st. Louis showed an advance there of about
&c over the closing prices of the day before.
That at once brought into prominence the
vSrS aiS saPPapeobln,tnss yaeor,s ff oS w tne wi inter
sent here in great numbers. and which
sounded so alarming that the traders could
not help giving expression to their feelings
by a lively wrestle among themselves for
the rather meager quantity that was for
sale while it was most badly wanted. The
business. was largely local in character.
The San Francisco dispatch sent here yes
terday. stating that California would not
have over half a crop, was thoroughly dis
day, which gave confirmation to Brad
streets figures as published on Saturday,
giving 33.000,OO0 bushels as the indicated
yield. Chicago receipts were nominally
twenty-four cars, but only five came from
outside the city. Minneapolis and Duluth
Exports from the Atlantic seaboard amount
ed in wheat and flour to about 1S0. 600 BUSH
els. The Liverpool market. opened up IAd
on account of the advance here on the day
before. and closed with a further led advance
on account of our strong squirt in the MORN
ing. Berlin also sympathized by an advance
of fromS1sm to Inn, but Paris ruled weak
and Indifferent to outside influences. Sep
TENDER, after its early advance to 74ssc,
1850 about forty-five minutes from the close.
About that time a report from New York
OF vessel room having been taken for fifteen
again. and it did not take many minutes
to get back to 74ssc. 1t closed at 741sc.
The corn market was inclined to be weak
on favorable crop reports, but was upheld
by the strength of wheat. Some demand for
shipments helped it also, 15O.OOO bu being
oOlo " 81 East hNi ih6 IL tcoiOA lhC .
ceipts were 133 cars, 80 of which were trans
ferred from private city warehouses. There
was some heavy selling in the forenoon. led
by Frazier, Cudahy and Patten. Some or
ders to buy May were received from country
men in Illinois and Iowa. July sold as
high as 1880 near the opening. and from
that down to 47%Q477sc. 1t reacted after
ward to 4sAc, and closed at 4Sa4S1sc.
Another heavy business was transacted
in oats. The tone of the market was very
weak, due to some very liberal lines being
disposed of. September sold from 267sc TO
261sc, and closed at 26l4c.
The provision market was quiet, but firm.
and closed slig htly higher for all the specu-
lative articles. The highest prices were
realized about the opening. but the market
closed firm after being rather weak at one
time during the forenoon. The net gains
at the close were quite moderate, being
from sc to 7ibc in pork. csc i'm lard and .025sc
in ribs. Hog receipts were 24.WO, and quoted
from sc to 10c higher.
for Thursday-Wheat. 80 cars;
corn, 127 cars; oats, 1872 cars. Hogs. 5000
head.