The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-07-13
MADE SMALL GAINS
WHEAT MARKET STRONG ON LIGHT
RECEIPTS OF WINTER CROP.
Other Months mt - DecIine-PrO-
visions Closed Weak.

July 12.-Wheat was strong
again to-day on a continued report of dam
age to spring wheat and lighter receipts at
winter wheat markets. A lot of 1900 BUSH
els of winter red was sold here for ship
ment to miIlers in Ohio. An advance OF an
other cent per bushel since yesterday was
the consequence. Corn advanced 4 per
bushel for September and declined 1c for
May delivery. and oats closed &c lower.
Provisions were weak in the end, notwith-
standing light receipts of hogs.
The weat market opened very strong at
from 67asc to 67ssc for September, and it
took only about fifteen minutes continu-
ance of the opening push to get the price
up TO 6S5sc or Csc per bushel recovery from
the lowest point it touched on Tuesday
last. All the reports of threshing returns
confirmed the worst which has been said
OF the thorough destruction wrought by
heat, dry weather and insects in the winter
wheat country. Fairly liberal deliveries of
winter wheat were looked for as soon as
threshing should get fairly under way, even
if the crop was small; but there has now
been ample time for the farmers to get
their wheat in, and it does not come. 1t now
appears probable that no matter what may
be the. outcome to the spring wheat, the
deliveries of the new winter wheat are
likely TO be SO small as 10 secure a weekly
reduction in the visible until new spring
wheat is ready for delivery. Farmers have
had their wheat ready for a month, and
yet the aggregate to-day received at St.
Louis, Kansas City, Toledo and Detroit was
only 10000 bushels, compared with $4,000
bushels at the same places a year ago, and
the crop at this time last year was only
beginning to be threshed. The foreign mar
kets were higher: Liverpool We was up iAd
lin from 3 marks to 3A marks. The London
Times estimates the condition of the wheat
of 20 per cent. smaller than that of the
year before. Export clearances were small,
only 5000 bushels of wheat being reported
cago received forty-nine cars, thirty-one of
which were new and eight Of the latter
were No. 2 red. Minneapolis and Duluth re-
ported seventy-four carloads, against 1S7
cars on the corresponding day last year.
The early advance TO 6S!sc. was followed by
a downward reaction to 671sc, but fresh buy
ing gave IT another upturn to around 6Shc,
all these fluctuations occurring between the
opening and 1215 o'clock. The news of
damage from the Northwest was sufficiently
convincing to keep the market firm in the
afternoon at from CSC to 6Sizc. More posi-
~tiveness was given TO the later dispatches.
which also gave details of the extent Of the
country injured, and general opinion was
by that time more inclined to a belief in
considerable damage. The seaboard report
ed no demand for export and Baltimore
without any outlet for the stuff. The latest
trading was at 6SAc.
tOTn was very SlIOIS lOT september d1Q
weak for May delivery. The feature of the
trade was the covering of September shorts
which was sufficiently general to accom-
plisl without other assistance or influence
the advance referred TO. The weather con-
ditions were perfect for growing corn and
that prevented May from Joining September
in the advance The demand for cash corn
was choked off by the advance in Septem-
Der. Receipts were LIS cars. Atlantic clear
ances were 115.000 bushels only. September
opened sc higher at 44%c, ranged from 46la
046Ssc and closed at 45Ac.
Oats were featureless. The market did
not respond TO the firmness displayed in
wheat and corn. September ranged from
23i3c to 23hq23Ac and closed at 23ssc.
Small receipts of hogs had only a very
limited and temporary influence on pro-
visions. They caused an advance in pork in
the first ten minutes of the session to $11. SO
as compared with S1.32la at the close yes
terday. After that the price tumbled to
81. 121a and recovered to $11 .27n at the close.
Lard rose .0715c at the start, dropped .l21ac,
afterward recovered .0213c, leaving the days
decline at .02lac, Ribs pursued a similar
course to the others, gaining ORC shortly
after the opening, dropping .15c and then
recovering .O71ec. recording Csc as the days
loss. Liberal selling on the hard spots
caused the easier feeling.
for Saturday-Wheat go cars;
corn, $50 cars; oats. 25 cars; hogs, 5000
head.
IoaI;po frtrrae ~o~ool - <y-.