The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-06-20
WHEAT DROPS SAC
HEAVY DECLINE RESULT OF RU-
MORED GOLD SHIPMENTS SOON.
the Leader. Provisions Going
on i'm All Lines.

CHICAGO. June 19--The speculative mar
kets were all very weak to-day, more es-
pecially wheat. The heavy decline of 234c
per bushel in the price of wheat was said
to be because of the prospect Of gold snip
ments in the near future. Heavy selling
ders from New York were said TO have been
induced by anticipations of that character.
Corn subsidized 1c per bushel on the progress
being made by the next crop. Oats lost sc
and provisions weakened in sympathy with
the decline in grain.
The demand for wheat at the opening was
much less active than it was at the close Of
the previous days session. July found no
buying at the start at over 7414c, and there
was no general demand at over 74c. At the
latter price, however and at 1850. at which
there were a few sellers for an instant, the
demand exceeded the supply and for half an
hour it kept growing, and so also did the
price. At 10 o'clock the trading was at
745sc and it held between that and 742sc for
half an hour thereafter. The weakness at
the opening was because of the small ac-
count taken by Europe of the advance here
yesterday, cables being generally lower. The
reaction which succeeded the opening de-
cline was due to. reports from various quar-
ters of rain interfering with the harvest
and of some foreign buying of futures here
and at New York The firmer feeling under
which the price had advanced to 745sc was
replaced by weakness again, and by 10:45
o'clock it was to 74c. On the decline which
followed the early advance the price touched
73c, but there was buying enough to stop
the decline, and cause another reaction,
which, however, was arrested at 1314c, and
the next decline was TO 13l2c. which was
current about IL 80 a. m. The weakness was
first on account of the small export clear
ances, which, from the four principal At
lantic ports amounted TO only so. 600 bushels
in wheat and flour together. That was fol-
lowed by very weak closing cables from
Liverpool. Some private dispatches reported
GENITAL. Berlin and Paris were quoted trif1e
higher. The reports from the winter wheat
states were confirmatory of the very serious
damage previously announced, but from the
spring wheat States reports OF the most
glowing character as to the magnificent
crop outlook made cheerful background
tempt was made to set the grasshoppers
on TO the spring wheat crop but 1t was UNI
traders were struggling with July wheat
down around 73c. The prospects of gold
shipments in the near future was talked Of
the heavy New York selling which marked
the session. Some cash wheat was reported
sold here to go to Milwaukee and New
York reported some inquiry for export, bi;t
ii was for spring wheat and the quantity
wanted was not large enough to have any
by the weak close to the Liverpool market.
The decline to 73c caught good many
stop loss orders the selling in consequence
of which caused a further decline to the
lowest point recorded on the break of two
days ago. A few minutes from the close
there were sellers of July wheat at 72asc.
and it closed at 7l7sc sellers after a sudden
drop to 1s4c. September sold at 13Ac, and
that was the closing price.
The corn market was firm for a time near
the opening but when wheat showed such
heaviness the corn market turned around
and also became very heavy. The receipts
gave no evidence of becoming larger and
they were small to-day. The opening price
| FOR July was from 50$sc to 5012c, and from
| isc to &c gain on yesterdays closing price
| 1t quickly declined to 50lsc. but recovered
| again to 50iac before il commenced the 9TH
er down turn. from which there was no re-
covery, and fell to 4s1sGl49l4c, the bottom of
the decline. where the price rested.
Only fair amount of business was trans
acted in oats. The market followed wheat
and corn during the entire session Septem-
Der ranged from 291sc to 2SAc, resting at
the low price.
The provisions market appeared to be
swayed in the direction of the fluctuations
| in grain. The fluctuations In the hog
products were confined to narrow range,
| but after the first half hour of the session
| the tendency was downward and the market
rested at the lowest figures of the day.
| Pork, compared with yesterdays closing
rate, is 12iac lower: lard, .05c and ribs, 07l2c
| lower. Hog receipts to-day were q 600 head.
Estimates for Thursday-Wheat, 40 cars:
| corn. 80 cars; oats, 40 cars; hogs. 1900
head,