The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-07-19
WEAK CHICAGO MARKET
SHORTS IN CORN BEGAN TO UNLOAD
AND OTHERS FOLLOWED SUIT.
weather Reports Indicated Better
Crop Prospects, and Spectators
Dumped Their Holdings.

CHICAGO. July 1S.-The Board of Trade
markets were weak to-day. The weakness
in corn was an incentive TO short sellers in
the wheat pit. Wheat declined sc, corn
&c oats &C lard .02ihc and ribs .05c.. Pork
gained 21zc.
Wheat for a minute or two at the OPEN
ing was firm at about yesterdays closing
prices. but people who had long corn were
all in that market pressing 1T for sale on
an unwilling crowd. and the holders OF
wheat began initiating their example.
Floods in Kansas appeared to be all that
was needed to clinch the previously flat
tering prospects for a great yield. The
price had yesterday run ahead of the for
eign buying limits for export, and, al
though it was claimed that bids from
abroad had been raised this morning, the
people who usually receive them refused to
confirm such statements. September opened
unchanged, at from 51ssc TO 57lsd5714c, and
worked down TO 565sc in the first half hour
OF the session. The weeks shipments of
wheat and flour from both coasts We're
equal to 1865 600 bushels. compared with
2.l67 GOO bushels in the week before, and
only 1860 bushels in the corresponding week
of the year before. The Minneapolis and
Duluth receipts were again comparatively
light. 30 cars. against 421 cars on the pre-
vious Saturday and 395 cars on the corre-
spending day of the yeer before. For the
first time since last years crop got fairly
under movement have the receipts for a
day been smaller than from the light crop
of the preceding season. Chicago received
252 cars, 24S of which We're new and 132 of
them graded No. 2. The quantity inspected
out of store was l.611 bushels. Export
cIearances from Atlantic ports reported to-
day are equal in wheat and flour to so. 900
bushels. Some export business was done
with the price of September TO $3.50 and
under. The last decline was near the close
of the market, and $3.50 was asked at the
close.
Heavy rains I'm Kansas ard Missouri yes
terday and prospective heavy showers in
the remainder of the corn belt in the next
thirtysix hours caused the bulls in corn
to tumble over each other in their haste
to unload. September opened l4c lower at
tiOnal rallies on small purchases by shorts,
closing at &c. the lowest price of the day.
The carly market for oats firm and
prices We're higher than they closed yes
terday. The cash article showed signs of
strength. influenced by small offerings and
opened isc lower at 11&4c and advanced TO
117sGlSc- Later in the session longs were
free sellers. prices receding TO the lowest
point of the day. September being offered
al 11isc at the close
Still lower prices than before were re-
corded for provisions during the days ses-
sion. but the changes quoted at the close
We're very little under the final prices OF
the day before. September pork opened I'M
changed at $40. winding up at S6.42iz. after
selling as low as $3.50. September lard
opened .2Iec lower at 3-52izc, sold at ,Oc
aud reacted TO opening prices. September
ribs opened .02i.c lower al 352i &c sold off to
S-45c and reacted to soc at the close, a net
loss of .05c.
Estimates for Monday are: Wheat. 25J
cars: corn, 310: oats, 2l0 hogs. SEQ head.
Leading futures ranged as follows.