The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-07-28
SHARP LOSS RECLAIMED
WHEAT RECEIVERS FROM THE Eff
FEET OF EARLY BEAR NEWS.
Corn and Oats Were Weak and Closed
visions Scored Low Records.

CHICAGO. July 27.-The influence of
Thoman's crop report showing a material
reduction in the condition of both spring
and winter wheat caused September wheat
to regain a sharp loss caused by profit TAX
ing and final figures for that cereal show
no change. Corn was decidedly weak and
closed PC lower; oats closed about isc
higher. Provisions made new low records
and closed 10c lower.
Wheat was nervous all day. with trade
active and seemingly broadening. The
early strength was due principally TO the
continued rains which are reported to have
inflicted more damage on wheat in stack
or in the shock. This. with moderate
worlds shipments and rather small local
receipts. gave the market a strong and de-
cidedly higher opening. But the bulge
started the longs TO selling 10 realize prof
its, and while the market took the offerings
well for a time they gradually caused a
good deal of weakness. and there was a
steady drop of 1Ac from the high point.
Thoman's crop report was the factor dur
ing the midday trading and its bullish char
acter caused a gradual recovery. 1t reduced
the estimate OF both spring and winter
wheat, the former from 80. a month ago,
to 1872 per cent. now. The total production
i'm Minnesota and the two Dakotas Is esti-
mdItu a OHM IlU.UU.OtV Dds a6ol4lcN lct,VW.
600 blu last year. and the total crop at only
147. 900. 900 bu or SO OOO. 900 blu less than a year
ago. Winter wheat. which in the last days
OF June promised 21 ,OO0,OOO bu, is reduced 10
259, 600. 900 blu, the highest during the last
ten years. This indicates q total crop,
spring and winter, of i06. oOO.O0o bu!, against
467. DOC. 600 blu last year. The visible supply
figures, which showed an increase OF iWo,-
600 bu, where a decrease OF fully 5W,VO bu
was expected, caused another relapse in
prices, some of the loss being recoVerd
later. however, on the high quotations for
demand. September opened irregular and
about PC higher, at 5s4N6oc, declined 10
5s%c. advanced to $3.50. off 10 5Ssc and
closed steady at 59la $3.50.
Corn was weak ana prices Suiereu q
further decline. Reports from the country
were most favorable for an enormous crop
and local receipts were large. Longs sold
freely and there was good selling for the
short account. prices ruling lower from the
start. September opened sc io%er at Zo?su
2ec, and gradually declined 10 zoSsc, CLOSING
weak at 2512c.
Oats-Infuenced by continued unfavora-
BILE crop reports, the early market YVES ac-
tive and strong. with prices ruling higner.
Later. i'm sympathy with the weakness In
! corn. prices declined. September opened
17Hc. closing steady at 17sq1Sc.
Provisions were dull and heavy. Ine
steady live stock market had a favorable
effect for a time, but sympathy with corn
and free offerings gradually reduced prices,
lard and ribs making new low records. Inc
closing feeling was rather weak. Septem-
| Der pork closed l0c lower at 50. September
lard .1Oc lower at 3.1I1zc. September ribs -lOc
lower at 3.1712G32 0c.
for Tuesday-Wheat. 200 cars;
corn. 1,050 cars; oats, 20 cars; hoss' lZ'oW
head.
7 aadipp futures ranged as follows.