The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-12
ALL MARKETS SUFFERED
LIQUIDATION WAS IN ORDER AND
CHICAGO WHEAT DECLINED.
Breaking of Hot Wave Sent Corn
OF in All Lines from &c to zoe.

CHICAGO, July 1o.-All the grain and
provision markets suffered to a greater or
less degree from liquidation to-day-in
wheat on disposition to hold wheat in the
face of the forthcoming government crop
report being the principal factor. In corn
the breaking of the hot wave gave prices a
kick in the wrong direction. Wheat closed
AQ$sc lower, corn zee lower, oats a shade
lower and provisions show declines ranging
from &c in pork to 21aQ5c in ribs.
Wheat got a weak start because Liver
pool sent lower quotations and corn was
easier The weather in the Northwest was
favorable for spring wheat growth, which
was another element of weakness to begin
trading on The opening decline here
brought the price within the range of the
put" price. September. which closed yes
terday worth 65$4c, started at 6512c to-day
1t rose on buying against puts to $3.50
65$4c, but the volume of selling orders at
that slight Improvement was heavier than
buyers could take care of, the consequence
of which was gradual decline to 654Q
653sc, with one or two 5,000-bushel lots at
654c. Chicago received only five carloads
of wheat, and Minneapolis and Duluth only
223 compared with Az on the corresponding
day of the previous year. The considerably
higher price for cash wheat at the latter
places than No. l Northern spring was
bringing here was subject for general
comment. A considerable quantity of that
grade of wheat was delivered here yester-
day afternoon for July contracts, and was
another cause for heaviness here this fore
noon New York reported, however, that
the sales of wheat for export yesterday
amounted to sixty boatloadS or nearly 5OUj-
900 bushels, and tlrmer undertone pre-
vailed when that became generally known.
The weeks clearanceS of wheat and flour
from both coasts were equal to 2,5O2 SOC
bushels, against 2,77S000 bushels the week
before. BeerbOhmS estimates on the
worlds shipments to Europe this week
placed the amount at 6,2OO0U bushels. An
estimate by the Daily Trade Bulletin that
the surplus from this years crop that could
be spared for export, from yield of 550,-
900 600 bushels, would only be los, 900 000
bushels, after making allowance for nor
NAL reserves at the epd of the season. had
a strengthening effect for J. time on the
market. In preparation for the weakness
which usually follows the publication Of
the government report one being due to-
day, the traders were tndisposed to carry
much over till Monday, and the price got
to it's lowest near the end September sold
down to 651sc and closed at 659sc.
In corn the general rains West and the
cooler weather were the considerations,
and there was considerable September for
sale at the opening at 267sc, decline Of 1sc.
This liquidation caused further decline to
261ac, when o. good demand from shorts
caused a slight reaction. Liquidation soon
set in again, however, and continued to the
end September closing at 261ac, substan-
TALLY the bottom of the days range. Local
receipts were 1894 cars.
A fairly good business was done in oats,
though mostly at one quotation The feel
ing was easier in sympathy with corn.
Nothing of particular interest developed.
Local receipts were PIT cars, September
opened a shade lower, at 1870, sold at $50
1880 and closed at 1850.
Provisions ruled heavy, with quite gen.
eral selling and liquidation. A weak hog
market caused lower prices at the open
ing. Lard and ribs were fairly we'll sup
ported but pork seemed to be utterly
friendless and prices slowly but surely de-
clined at the close September pork was
zoe lower, at $3.50; September lard 10c low
er. at $395@3.9712, and September ribs 212c
lower, at $43712
- Estimated receipts for Moon T6
20 900 head. ro J1ere0
ca dino futures ranped &c follows.