The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-06-14
WHEAT AGAIN HIGHER
AFTER An EARLY SLUMP THE GRAIN
MARKET BECAME FIRM.
Wheat Oats and Provisions
Closed Unchanged.

CHICAGO. June 13.-Wheat opened rad
icelly weak and closed uncompromisingly
firm. 1t regained loss OF 1asc per bushel
made early. and closed with gain of ssc
compared with yesterdays close Cali
fornia crop damage and reported sales for
export caused the bulge. July corn closed
&c higher and September oats and pro-
visions finished without change.
Wheat was very weak at the opening
In the frantic efforts of brokers to sell
out long wheat as near as possible to the
stop limit of their principals, there was a
general Offering of the stuff down from
71s4c for July. which <was the most any
one asked for it. TO Ui4c. with n2sc the
most general trading price for a couple of
minutes. 1t recovered 10 17s+c in about
fifteen minutes, but at every recovery
there appeared 10 be lots Of long wheat
for sale, and at I7s4c short sellers took
a hand in supplying the demand. In about
three-quarters CT an hour from the start
the price had orace more dropped To the
lowest price made at the opening. and even
for fraction OF a second to 77isc. The
Cincinnati Price Current was interpreted
as leaning more favoraoly TO the side rep
resented by the bears, in the remarks con-
corning the amount of the crop suggested
by the government report. The rain was
claimed to justify a decline in the price.
edg'nent this morning TO the decline in
price which occurred here yesterday. The
enjoyment of the bears had a sudden check
about hour and half from the open
ing. The altered tone was remarkable,
and the trend in the price from downward
to upwards was sudden and radical. In
from around 77lac to 7sssc. The reported
taking of fifteen boatloads for export at
New, York gave the price its first hoist.
which took ii TO 1Sac; then, after slight
reaction, the crop reports which were being
received and shown around We're of such
a lugubrious character that they began
TO alarm the shorts and when. about y
o'clock there was received further con-
firmation from San Francisco of various
damage by hot winds and rust to the Cali
fornia crop, the market broke bounds and
rose in a jump TO 199sc. 1t had settled
back again to around 7S&c at the close.
The nominal receipts at Chicago were thir-
merely transfers from irregular to regular
houses. Minneapolis and Duluth received
1871 cars sa gsrs 80 wnsst sng eSr rom
the Atlantic coast ports were again very
insignificant. comprising only 17,41 bushels
of wheat and 1880 packages OF hour.
The corn market was weak until il began
to recover from its early break, and i'm
sympathy with the. later rise in wheat;
added another l4c. The opening price for
July was 50i4c, as compared with 50ssc at
the close yesterday. and after recovering
to 51lsc II closed at sic. The days receipts
were $50 cars. Some heavy local shorts
were the principal buyers.
The market for oats was quiet. Values
were weaker during the greater part of the
session, in sympathy with wheat and corn,
but toward the close there occurred an
advance September ranged from 294c to
1880. and ended with sellers at 29s4c.
Provisions had an embarrassing time.
The price fiuttered a little in acknowl-
edRment of the fact that there was some
activity in the grain market. but at the
close no difference from yesterdays clos
were $4,000.
Estimates for Friday-Wheat, 26 cars;
corn, 40 cars; oats 14o cars; hogs. 24,OOO
head.