The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-06-28
FLUCTUATI0N IN WHEAT
ACTIVITY IN CHICAGO MARKET
TRANSFERRED TO SEPTEMBER.
Advance of 1 3-Sc in that Future Dad
Not Help other Grain--PrOvi-
siOns Weak and Lower.

CHICAGO, June 26.-July and September
wheat changed places to-day in point of
speculative interest. July started out with
it's corner scare, but before the session
was half over September was commanding
the attention of most of the traders and
was much the stronger at the close. Final
prices showed 12c advance in July and
11!919sc rise in September. Other markets
were dull and neglected. Corn closed I'M
changed, oats a shade higher and provisions
unchanged to nc lower.
Nothing else was before the vision of
wheat traders at the opening but the ever
growing specter of July corner. The
usual news of the day had little TO do with
the fluctuations. Traders watched the
brokers who were supposed TO be doing the
bidding, the men credited with the manipu-
lation of July, and as they bought or sold
so did the crowd July wheat started at
surprising pace; it's first jump was from
5sc to 7sc per bushel, 7212c to 724c being
quoted at the outset. This was followed
up with a few kangaroo bounds that took
the price to 731ac That appeared to be the
height of it's ambition for while, and dur
ing the remainder of the first hour it in
dulged in a series of erratic sputters. From
7312c to 7212c, up again to 7312c and back to
73c were some of the more noticeable of
it's gyratons in the first hour. September
wheat at nearly Sc below July was strange
ly neglected for time, but that was
condition in which it was not permitted to
remain. 1t opened at 64s4c, compared with
645sc, it's closing price the day before. After
touching 647sc it ranged between that and
645sc, with very little doing in it for an
hour Then it suddenly sprang into activ
ity. Poor reports from Russia and the
Danubian provinces started buyers, and so
lively did they become that July was for
a time neglected and September rose to Coo.
Much of the September buying was sup
posed to come from the same source as
the July buying Receipts at Chicago were
% carloads. Minneapolis and Duluth re-
ported receipts of 293 cars, against $50 the
corresponding day of the year before The
weeks exports of wheat ana Hour from
both coasts were 2,156,O00 bushels, against
2 347, 900 bushels the week before and 2,831OO0
bushels a year ago. Argentine did not ship
any wheat to Europe this week: year
ago Argentine shipments So for the CORE IRE
exports of wheat and flour for tWenty-tour
hours from Atlantic ports were equal 10
goo bushels London cen ca6gam WAS ths
year compared with last in the English
crop, and claimed that for months the At
lantic ports of America would be called on
for 2 $50 900 bushels of wheat and flour per
week September maintained its advance.
1t did not get below 6o9sc. AFTER having
sold at 66c it touched 661sc and closed worth
65sQ66c. July, after all its early pluster,
closed at 72$sc.
Corn was slow within an extremely mar
row range, with prices shade easier most
of the time on the corn belts reports OF
crop conditions through the West. The I'D
vance in wheat a factor. Inc traue
was small, in marked contrast to the actly-
ity which has prevailed nearly all week.
Local receipts were 4S0 cars. September
oLened unchanged at 26c, sold between zb9
261sc and 257s, closing at 26c.
Oats were dull within a Ac range. me
feeling early was weak on the unloading OF
a. line about 5000 900 bushels by prominent
trader but the market developed CONSIDER
able strength later in sympathy with the
advance in wheat. Local receipts were $40
cars September opened unchanged at lSc,
sold at 177sc and advanced to lSqlS1sc'
where it closed.
limited trade was done in provisions.
The feeling during the early morning was
easy on the large receipts of hogs and
weaker yard prices, but steadier later as
wheat Continued to show strength. A fair
demand sprang up at the decline; AT the
close September pork was 113c lower az
ST 571b September unchanged at "a % ana
September ribs CSC lower, at $44Il2q4o o.
Estimated receipts for Monday-Wheat, 10
cars; corn, AIS cars; oats, 300 cars; hogs'
1'i' " H. f,,+1,ras ranred as follows: