The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-03
CLEANING UP OF TRADES
WHEAT WEAK ALL DAY AT CHICAGO
AND CLOSED 1-2C LOWER.
Hot Winds Caused n Slight Advance
in Considerations Scored
Losses in All Lines.

CHICAGO. July 2.-The longs and shorts
in wheat were cleaning UP their trades to-
day in preparation for the holidays which
begin tomorrow and last until Tuesday
Wheat and corn were both strong early in
the session, but lost most of their force be-
fore the session closed. Wheat closed 3sQ
Zee lower corn 1sc higher oats 1sc lower,
and provisions 5Q121ac lower.
There was little in the news calculated
to affect values. There was a general dis
position among the shorts to even up in
view of the fact that there will be no ses-
sion until next Tuesday. This demand con-
stituted the principal business of the day,
and there was little outside of this to give
the market any strength. Liverpool quo
tations came unchanged to 1sc higher at
the opening, and private cabegrams from
Paris estimated the French crop at from
100000 to 100000 bushels short. Some
dispatches from Kansas said hot winds
were blowing, which were cooking the corn
in the fields, and it was inferred that un-
cut wheat would not escape injury from
the same cause. The reports were dis
mention of rust If wheat Chicago re-
ceived only eight carloads; Minneapolis and
Duluth reported 269 cars, against 26l the
like day of the week before.
What little trading was doing was con-
fined principally to September. First sales
CLOSING prce 6 HsFe It held around hat
price for a time, then laZiy advanced to
647s465c, and around Il o'clock was bring
ing 6475c. In the afternoon the market be-
came weak without any further informa-
ton of the crops or general outlook, and
gradual decline took place, September
bringing up at 641sQ6414c shortly before the
close. st. Louis market was said to be de-
moralized by heavy offerings of new wheat,
which had some effect in weakening this
of lnCin h
ed higher for futures and 12d lower for No.
| Northern spring. The Atlantic port
clearances of wheat and flour were equal
to 100000 bushels. Stocks of wheat at
Minneapolis and Duluth are expected to
show a decrease for the week of 10000
bushels, and the visible total decrease of
BILE in the similar week of last year was
$4,000 bushels. September was bringing
4AQ643sc at t.ti close.
Corn was by far the most active market
on the floor, which is not saying much.
Reports of hot winds in Kansas were the
bull features of the day and caused "A gen
eral rush of shorts to cover during the
morning. An easier feeling prevailed later
in the day when wheat declined and the
advance was all lost. Local receipts
amounted to 4S0 cars. September opened
unchanged at 257sc, advanced to 26Ac, and
declined to 25sQ26c
ing within a narrow range. Some advance
followed a rather weak opening, due 10
covering and sympathy with the other
grain markets, but when wheat and corn
moved off oats followed. Exchanging con-
stituted the greater part of the business
Local receipts were 1853 cars. September
opened a shade lower, at l79sQ1'a4c, ad-
vanced to 171sc, and declined to 1850, where
is closed.
Provisions were weak all day. An easy
feeling prevailed at the opening as the re
suit of decline at the yards. Cudahy and
packers in general We're active sellers ana
the market soon became radically weak
At the close September pork was lOc lower
at $40; September lard 5Q712c lower, at
$41212G415, and September ribs 1Oql212c
lower, at $4.45d44112.
IS cars; corn, $50; oats 300; hogs, $4,000
head.