The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-07
CORN LED THE MARKET
EOT WINDS CAUSING CROP DAMAGE
RESULTED IN STIFF RISE.
Wheat Quiet, but Advanced Largely
in Sympathy with COrn-Provf-
sions Improved Slightly.

CHICAGO, July 6.-Corn was pre-emi-
of damage from the prevailing hot winds
started a general buying movement and re-
suited in an advance of full 112c. The re-
markable squirt had more or less influence
on all the other markets. Wheat improved
sac, oats sc and provisions 212Q10c.
In wheat cable advices were of the most
encouraging character to holders, both
from the United Kingdom and continent
People in the flour trade here also reported
their foreign news as more gratifying and
orders larger than for some time back
These were the principal reasons for firm
opening to the wheat market here. The
statistics of the week were also favorable
to the bull side, although in some respects
less so than in the week before. The
worlds shipments of wheat and flour to
Europe last week were 6,077 900 bu, against
600 bu the previous week and 1855 900
bu the corresponding week Of the year be-
fore. The amount of wheat and flour on
passage showed no change for the week
The domestic visible decreased 1,211, 900 bu
against Gil, 900 blu decrease the similar week
of last year. Wheat inspected into store
in Chicago since Saturday was seven cars,
and seventy thousand bu were inspected
out. Minneapolis and Duluth reported re-
ceipts of 100 carloads since Friday against
887 for the corresponding period of the year
before. The Atlantic port exports reported
to-day were equal in wheat and flour to
AIS coo blu. Liverpool opened sd higher for
September and 12d higher for July, and
closed with the advance raised to 14sd per
Genital for July and 24d for September Paris
gained 80 centimes and Antwerp 1919 CEN
tir11pG on no
of the foreign market was emphasized by
buying orders sent here from abroad for
futures and the taking for next month
shipment from New \ ork of thirty boat
loads of winter wheat. The sharp advance
in corn was the feature during the closing
hour. 1t gave rise to fear that dreaded hot
winds which were reported to be playing
havoc with the corn crop might have the
same effect on wheat. September opened at
643sq64%c, compared with last Fridays
closing price or 64AQ644sc 1t sold up to
64AQ64Bc, gradually fell off to 64l2c, then,
under the influence of the corn advance,
it advanced to 651sc. The closing price was
65Q651sc.
The corn pit was damned with traders
all day. who had heavy orders to execute,
and the market was the most active one in
months. Reports OF hot winds, especially
from Kansas, started the market strong.
but the reports in themselves were hardly
sufficient to account for the strength. There
seemed to be a universal desire TO buy. Sep
TENDER opened at from 26Ac TO 2612c, COM
pared with Fridays close OF 257sQ26. 1t sold
up 10 Z03Sc, lHCIl, uIueT d IuSIl VI IGdllZlnS
orders, made more urgent by the denials
of the imputed injury, reacted to 26Ac. In
the last hour, however, the market became
excited again, and a perfect flood of buy
ing orders boosted" the price to 2712Q2l3sc.
AT the close 2712c was bid. Local receipts
since Saturday were 6l2 cars.
Oats were firm, principally because of
the strength in corn, although some indie
pendent features of strength were present.
Shorts bought quite freely, and a fairly
good business was done. The visible supply
decreased $1,000 bu and local stocks de-
creased $4,000 bu, which facts combined to
assist in the bullsh sentiment Local re-
cepts for two days were sos cars. Septem-
Der opened Ac higher at 177sc, sold off to
173s017$4c, then advanced to 1SAc, where 1t
closed.
The provision market was the quietest in
the pit The opening was strong and high
er in sympathy with the firm hog market,
but offerings were so liberal that the adj
vance was soon lost. Later the market re-
covered again, when corn made It's hnal
jump. At the close September pork. was
l0c higher at $3.50, September lard 212c high
er at $41719 bid and September ribs about
212c higher at $3.50.
Estimated receipts for Wednesday -
Wheat 8 cars corn, 6S5 cars; oats, 44O cars;
hogs, $1,000 head.
leading futures ranged follows.