The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-06-22
FELL ANOTHER CENT
JULY WHEAT SOLD DOWN TO 90 1-2C,
RECOVERING TO 10 Use.
Decided slump in Grain Caused by
Lower Cabies-PrOvisiOns Ac-
tive. but Declining.

CHICAGO, June Glover cables caused
a decided slump in wheat to-day, but cover
ing by shorts caused a reaction from the
low figure. July sold down TO 691ac, but
recovered TO 1lsc and closed at 70'sc or lc
lower than on the day before. Corn was
also weak, but with perhaps better rea-
son than wheat for weakness, it was firm
in comparison, the days decline being only
fractional. asc TO l2c Oats closed &c lower,
Provisions were active and weak, but in
the end only slightly lower.
Wheat for July, which closed yesterday
at 1lsc bid opened with sellers at from
7O3sc down to 70l2c, and some sales at the
same time as low as 7ossc. Buying orders
preyented its going lower at that time, but
were not sufficient to do more than steady
the price for a while within the limits
of the opening range. The shorts bought
some at the opening and several times
again on the various slumps. which succeed
ed each other during the forenoon. On each
little rally there was lots of short wheat
for sale until the price for July got down
to 69l2c. From that point there was an
advance OF 1c to 70isc. The latter price
was current around IL O'Clock. The short
sellers did nothing to help the disconsolate
bulls until after the low point named above
had been reached. After that they could
selves, so eager did they appear to be in
absorbing the wheat which was for sale.
The foreign markets were weak. Liverpool
had the complaint to make that the re-
ceipts of foreign wheat in the United King
dom for three days amounted TO the very
heavy amount OF 3,4S0,0O0 bushels, the
and Argentine. and private cablegram
from Berlin quoted a sdecline in the price
due. it was said. to the German govern
ment having raised their estimate of the
crop. The Northwestern receipts at Mime
apolis and Duluth were 1lS cars. The ex-
port clearances from the Atlantic ports
were disappontingly small, amounting TO
oniy about $4,000 bushels In wheat and hour
together. The reports from the country
were as gloomy as ever with regard to the
miserable outlook for winter wheat, ana
tioning of the advantage of the early rains.
About two minutes from the close OF the
session July was lie. Thoman's report Oh,
his estimate that the annual consumption
of bread is 3S.000,O00 bushels less than Is
usually assumedN in calculating the avail
able supplies for other purposes, had
rather bearish effect. which, however, was
soon overcome by the free covering pur-
slightly irregular. Paris closed a tri1e
higher. Antwerp 12i4c lower and Berlin from
/ mark to 1la marks lower. Here the mar
ket near the close ruled rather firm al
ing n1sc closed at 703sc.
There was a fair degree of activity In
corn, Dut, dS was Tie case III WICdt, the
price suffered. The growing weather and
slightly heavier receipts discouraged some
of the local traders, who for few days
have been buyers, and to-day they unload
ed. The early weakness OF wheat had Its
influences, of course. on corn. The price OF
July at the opening was from 4S,sc to 49c,
and ii declined to 4Se. With the recovery
in wheat, corn rose again to. 49c near the
end of the session and closed at 4S7sc.
ds Oats %ere st confined to
rather narrow range, and to great ex-
tent influenced by the wheat and corn mar
kets September ranged from 2S1sc to 2IssC
and closed at 275s@2Sc.
The provision market was active and
weak Tor some time but became firmer
late in the day, and in the end prices
we're only a trife lower than they rested
at on the day before. Pork for September.
after selling as low as $1l.95, about the
opening. worked up again to Sl2. l2la. ana
closed at s1207iz. as against $l215 on the
previous afternoon. Lard was rather neg
iected and only fuctuated over a % range
and closed 0212c lower for the day: There
was fair amount OF activity in RIBS,
which the Anglo-American Packing COM
many was free sellers of early, and later
baldwin was liberal buyer. The price at
the close showed decline Of .O212c. The de-
cline was mainly in sympathy with grain.
Estimates for Saturday: Wheat. q cars;
corn. 1871 cars; oats, III cars; hogs, 1OOoo
oad;r, f,,.ures ranged as follows: