The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-06-15
CHICAGO MARKETS UP
FOREIGN NEWS AND DRY WEATHER
ENCOURAGED THE BULLS.
Advance i'm Wheat Amounted to Near
Provisions Scored Marked Gains.

CHICAGO, June 14.-All grain and pro-
vision markets were strong to-day on
rather limited business. Wheat was af-
fected by foreign crop reports of a bull
character and dry weather, the market
closing at 13sd17sc advance. Corn and oats
followed wheat, scoring advances of about
12c each. Provisions closed 106171ac higher
Wheat opened strong and exhibited an
amount of buoyancy that surprised even
the bulls themselves. Very high tempera-
lures were reported to have prevailed
throughout the Northwest yesterday and
as the present is considered a critical pc
Rod for the crop, fears of drought were
prevalent among shorts The real cause
for the opening strength, however and for
the sharp advance which subsequently, fol-
lowed was to be found in some private ca
bies on the condition of the Daunbian and
Indian crops. A London cable to President
Baker contained the statement that the
damage to crops in the Danubian country
was not fully appreciated and estimated
the shortage at least % per cent. The CEN
trail India official report made the crop 30
per cent. below the average July opened
at CSC, against Saturdays closing price of
GSs4Q6S7sc, but very little could be obtained
until buyers had advanced their bids to
$3.50, and it to zoe before the excite
ment subsidized for while. In this furry
shorts were active buyers. One peculiar
feature was the lack of outside trading Nthe
market in fact being almost entirely q local
enc. Liverpool was unaffected at the open
iEg by Saturdays strength here, being
quieter without change and Paris at a de-
cline, with hot forcing weather both i'll
wheat and -four on ocean passage decreased
10000 blu for the week. The weeks ship
ments from all IL, exporting countries to
Europe were 5,322000 bu. compared with
S346,0O0 blu the corresponding week of last
year. The domestic visible decreased
1764,0OO blu, against decrease of 661, 900 bu
the year before. Chicago receipts were 3
cars: Minneapolis and Duluth reported
total of 293 cars, compared with 299 last
the year before. After the market had
reached zoe for july holders We're more
willing to ,et go and realizing sales caused
a gradual reaction to $3.50. Then the mar
ket turned strong again. Outside markets
were all exhibiting strength, notably ST.
Louis. Offerings ceased suddenly and half
an hour from the close July had advanced
to 7O9sc. Offerings became frecr after that.
but prices were well maintained notwith-
standing, July was selling at 701ac at the
close.
Corn was active and strong, helped by
the advance on wheat and by some drought
rews from the West. The increased trade
caused shorts to cover freely, and prices
after a momentary hesitation at the open
irg advanced steadily. Receipts were re-
ported at 697 carss July opened unchanged
at 2412d249sc, advanced to 2514c and reacted
to 25kc, where 1T closed. The visible in
creased 2621, 900 blu.
Oats were quiet and developed no fea-
lures of interest. The strength was partly
through sympathy with wheat and corn
and partly on the hot weather and too lit
tie rain. The visible supply increased 327. 900
bu and local stocks increased $1,000 bu
Receipts amounted to 301 cars. July opened
a shade lower at 1Sc and adVarced to 1S1ac.
That was the closing price.
Provisions opened weak on the uneXpect-
edly large hog receipts, pork especially
suffering. The market rallied later on
buying, led by Cudahy, and a better gen
At the close July pork was about TIC
higher at $7.67131770; July lard 1Oc higher
at $375@3.7712, and July ribs 121ac higher
at A.471a.
Estimated receipts for Tuesday: Wheat.
1G cars; corn, go cars; oats, 400 cars; hogs,
20 900 head.