The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-06-17
ACTIVE GRAIN MARKETS
CORN AND OATS SHOWED STRENGTH,
BUT WHEAT FELL OFF L 1-4C.
The Leader Most of the Day at Chi
cagO Was Corn, in Which Was
Heavy Buying-POrk Declines.

CHICAGO, June 16-Corn was the big
market on Change to-day, heavy buying
in which outsiders were prominent causing
a &c advance. Wheat closed at 11sd1Ac
decline Oats followed corn. closing Ac
higher. Provisions were weak throughout,
and declined about 1Oc all around.
Wheat commenced the days gymnastics
by drop of CSC in the price of July and
followed it up by climbing 1ac hand over
hand. 1t then gave a 1ac dive. The opening
prices of July were 691sq69Ac, compared
with yesterdays close of 69$4c. From that
it advanced to 691@c, then down to 69c, and
for while it revolved around 69Sc. The
unexpected firmness abroad after the weak
ness here yesterday gave the market some
strength and it got some help from the
light Northwestern receipts, 1877 cars,
against 500 cars the same day last year. The
home crop conditions and the dullness in
the speculative trade proved sufficiently
bearish to offset the early strength the
market derived from the better foreign
cables The weekly weather crop bulletins
We're uniformly bearisk to wheat, show
ing the spring crop to be making good
progress ard the winter crop nearly finished
and in good shape with harvesting COM
pleted in some areas and a prospect that by
next week new grain will be coming in
time the market took another whirl, July
touching $3.50 the buying furry Corn
had in the interval become very strong. and
had much to do with this bulge. Receipts
| of wheat were eight cars and $1,000 bushels
were inspected out of store. Liverpool re-
ported an advance of 1d in July and ed
| in September. Paris showed q decline of 10
! to Is centimeS, and Antwerp no change.
Clearances of wheat and flour from At
lantic ports were. small; the total amount
| ing to only 12S coo bushels. Another drop
from a greater height and to a greater
! depth thar the first signalized the last hour
! Of trading July wheat came out freely,
and it looked like liquidating of bull hold
| ingS rather than short selling. July sold
down to 6S3sc on this slump, but by closing
| time had recovered 10 6S12 t665sc.
Corn was surprisingly strong, and had the
active support of the elevator interest and
| the best-infoIIncd peopie OH the ioor. Trad
| ing was heavy throughout. Th9 market at
| the opening and for some time after was
weak on the splendid weather and uni
| formly favorable crop report, but heavy
general buying, of which a good proportion
was from the outside, ultimately turned the
| market in the other directions, Receipts
were 4H cars. July opened 1sc lower at
247sc, sold at 2434c then advanced to 251ac.
| The close was firm at 25Ac.
| Oats sympathized with corn, and followed
that market closely. Trading was very fat
until corn made its bulge, when some i'm
| provement was noticeable The market was
| without Independent features. Local re-
| ceipts were reported at 225 cars. July
| opened shade lower at 1SAc, sold at 1875
d1S14c, and rallied to 1S3sQ18l2c, where it
| closed.
Provisions opened weak on the estimate,
! and ruled weak throughout the session. The
market was almost entirely without sup
| port but trading was dull which probably
| prevented q more material decline than Was
| chronicled. At the close July pork was 100
$3621a, and July ribs, 712Ql0c lower at $3.50
| I4.321ac.
Estimated Receipts for Thursday-Wheat
s cars; corn, 800 cars; oats 20 cars; hogs,
j