The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-06-26
WHEAT ON THE BULGE
AFTER A WEAK OPENING YEsTER-
DAY 1T CLOSED 3-SC HIGHER.
Renewed Circulation of the Crop
Damage RepOr Precipitates a
Quick Advance.

CHICAGO, June 25.-The grain markets
all opened weak and closed strong to-day.
Compared with yesterdays closing prices
wheat wound up with a gain of about 12sc,
corn lc and oats improved Lc. The adj
vance in wheat was an acknowledgment
OF the extremely poor outlook for the win
ter wheat crop. California now joins the
army of the c%ripples, with a prospective
half crop, and bad reports were also re-
ceived from other States. Provisions joined
the procession, and scored fair advances.
Wheat opened weak and az from 12c to
&c under the closing price Of the previous
day. 1t was rather firm for a time at the
decline. and improved 12c or so in about
ten minutes. then declined &c. All that was
preliminary to an advance of 21sc, meas
uring its amount from the bottom of The
early decline. September has now become
the active trading future, and at odd mo-
ments during the. session brought &c pre-
MUM over July. The opening price for
september was from nBc to 1%c, and
after a short advance to 72lsc dropped to
Use, and from the latter point COM
menced an advance which eliminated be-
fore noon to 73hc. 1t then began to decline
again, and on the reaction touched 722c,
about 1880 o'clock. The opening weakness
and the break which followed the slight
advance were seemingly the result of lower
quotations from abroad. Liverpool at the
opening was quoted in poor demand at
from I'D to Ad decline. Private cable adj
vices brought selling orders, and although
a cablegram from Hamburg reported that
market advancing, all the other continental
lower prices. Antwerp closed l2la centimes
lower, Paris from 20 to . confines lower
and Berlin from 1 mark to 112 marks lower.
The reaction from 73l2c was due to the
recovery from the first break was &C.
casioned. so far as any piece of news was
concerned. by the receipt Of a dispatch
from Detroit stating that the wheat crop
lii Michigan had deteriorated 20 points
since June l. Reports of damage by rust
in the Northwest and disappointing re-
turns from this State kept the fever up.
and st. Louis, as usual, kept the pot boil
ing with kilograms which ran the gamut
Small stocks. The receipts here were only
twenty-four cars. and twelve of these were
from private city houses. Minneapolis and
27O cars a year ago. The total exports
from all the chief shipping countries last
week amounted to 9,777.O6O bushels. the
countries being about 100000 bushels.
Bradstreets visible statement gave the de-
crease in the worlds stocks since a week
active during the greater part of the fore
noon and in spots during the latter half of
the session. but was generally strong after
the first hah hour. The best prices of the
day prevailed near the end. and the closing
strength was owing to private advlceS con-
frming previous serious damage to the
wheat crop of the States on the Pacific
slope. One-half crop from California, Ore
gon and Washington is now talked of.
September rose to I312c, and closed at that.
future deliveries, was good and resulted in
an advance. The amount reported sold for
shipment was 10000 bushels. The receipts
were 16f cars by rail and 5000 bushels by
canal. Exports from the Atlantic ports
were $4,000 bushels. Estimates for to-
some strength. Bradstreet's made the de-
crease in the visible for the week 1885, DOC
bushels. Hot winds in Nebraska and Kan
sas were reported as damaging the crop.
July sold at 4Ii2c at the opening TO 4S12C
near the close, nj the latest trading was
at 1880.
Oats were active during the greater part
of the session. An easier feeling and lower
prices were noticeable early in the day,
the result of continued free disposing OF
stuff. The short buying was quite equal
to the offerings. however. and stuff was
quite readily consumed. Prices We're also
advanced and closed steady. September
ranged from 26Ac to &c and closed al
26&c.
There was a fair trade in provisions at
a omewhat advanced range of prices
Pork started with a gain of from 212c TO &c
and wound up with 3c added to its value
since yesterday afternoon. Lard is .0I12c
higher and ribs from .0l2c to loo higher
Hog receipts to-day were $1,000. The mod
crate receipts, together with strength in
grain. caused the advance.
Estimated receipts for Wednesday,
Wheat, II cars; corn, Is cars; oats. La
Leading futures ranged as follows.