The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-07-01
WHEAT WAS NEGLECTED
ALL MARKETS AT CHICAGO DULL
AND DECLINES FOLLOWED.
The Leading Cereal Went or Nearly
Cent, Traders Fearing Develop
ments on Delivery Day.

CHICAGO. June 3O.-Very little attention
given to the speculative market on
Change to-day. due to the fact that to-
morrow is delivery day. The tendency of
prices was downward, the following being
the declines for the day at the close: July
wheat, 7sc; September, 5sQAc; corn and
oats, about Ac each, and provisions, l0d
1212c.
Early cablegrams quoted lower prices for
wheat al Liverpool and Paris, I'D to begin
with at the former. followed by another lad
to I'D drop little later, and 20 confines
at the latter place. The weather was gen
orally favorable for the home crops and
new wheat on the move to market. Balti-
more reported that $4,000 busnels of new
wheat had been received there and it was
of fine quality but demand for it poor
With such news to begin with the Chicago
market started a shade easier but without
much activity. September, in which month
most of the small business was transacted
opened a shade below yesterdays closing
price, at 651sQ6514c, held for some time
around 65c, then gradually sunk to 641ac
July wheat was for sale in moderate guam
titles all forenoon. and there was no great
demand for it, except at concession in it's
price. 1t was the general impression that
sales of that delivery were made
yesterday and again to-day for
account of Armour & Co., and
that the congestion previously existing
in July had been reduced so much as to
preclude any further idea of a squeeze
July opened at 6S34c, or 14c lower tnan it
closed the day before. After temporarily
recovering the 1c loss it had started with
its course up to the middle of the day was
steadily downward, getting to sc by II
O'Clock. The closing cabiegrams quoted
the net decline for the day at Liverpool
12d, at Paris 70 centimes. Foreigners We're
said to have sold some wheat for December
at the opening in New York. The Atlantic
port clearanCeS OF wheat and flour together
were equal TO 295 900 bushels The receipts
were eleven cars, and 1900 bushels Were
Withdrawn from store Minneapolis and
Duluth reported receipts of 211 cars, against
4lO the corresponding day of last year.
Statement of last weeks shipments of wheat
and -four from all exporting countries to
Europe made the total 45l6,000 bushels, as
compared with 7,S45000 bushels for the
similar week of the year before. The
business in the pit became quite stagnant
in the last hour of the session. The closing
price for July was 691sc, and for September
6512GG59sc.
favorable weather and this and the good
crop reports were about the only factors
during the session: Business was very
quiet, consisting principally of changing
July contracts into September. Local re
ceipts amounted to $40 cars. September
opened unchanged at 26c. 1t declined to
25a4c and closed al 25a40257sc asked
In oats the weakness of cash article was
the feature, samples being 12Q5sc lower.
Offerings were large and poor support was
given, the market ruling weak from the
start. Local receipts were 245 cars. Sep
TENDER opened unchanged, at INC, de-
clined 1713c and closed at l71aQ173sc.
In provisions, large hog receipts and low
er yard prices started prices downward,
and though there were plenty of buying or
ders offerings were free enough to prevent
the recovery of more than a fraction of
the decline which took place in the first
hour. Business was quite brisk during
that time, but was quiet for the remainder
of the session. AT the close September
pork was 1212c lower, at $7671a; September
lard. 10c lower, at $4.15, end September ribs
about loo lower at $4.5212Q4.55.
Estimated receipts for ThursdaynW Wheat,
II cars; corn, 80 cars; oats, 260 cars: hogs,
600 head