The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-06-23
DELAY in THE HARVEST
WET WEATHER RESPONSIBLE FOR
FIRMER PRICES IN WHEAT.
Other Chicago Markets Firm and Dull,
with Slight ChanSes-PrOvisions
About Held Their own.

CHICAGO, June 22.-Wheat sold up
cent suddenly to-day and then as suddenly
lost most of it. A transfer OF about one
million bushels set traders on the edge
for a while. At the close July was selling
at 1a05sc advance. Other markets were
firm and dull, corn closing a shade higher,
oats unchanged and provisions unchanged
to Zee higher.
Wheat opend weak and dull. There were
no English cables, and those from the
continent had nothing in them to stir the
blood of the traders. There was some
short selling by traders who have been ap-
prehensive of the result of yesterdays ball
loting the proposed amendment to the
rules, and, light as it was, it served to
depress prices for time. The weather in
the South was rather wet for the harvest
and the possible effect on July wheat of
delay in the cutting Of the new crop began
to impress spectators, and they were
soon bidding boldly for next months de-
livery. July, which closed yesterday at
67bQ6Sc, opened to-day at 6734Q677s, and in
less than an hour had advanced to 691sc
1t became known during the advance that
one house which has been long for a con-
siderable time had transferred line of
about 1,0000 900 bushels July to a firm which
is known as an active cash handler This
at first was looked on as substantially
cash business and scared the shorts into
activity. 1t was afterward given out that
the transaction was merely in the way of
evening up" and the excitement died
down as quickly as it had risen, the price
sinking to CSC on the realizing which set
in Chicago receipts were SIX cars, ana
49, Oo bushels were WithdraWn from 20 store.
loads, against $40 the corresponding day
of the year before. Exports from the At
lantic seaboard We're small, the wheat t., and nd
flour together amounting to only Z6OUO0
bushels.
Bradstreet did not receive figures on the
change in European and on passage stocks,
the worlds visible was not Forthcoming,
but the domestic stocks east of the Rockies
were given at a decrease of 1851, 900 bush
els. After the decline to CSC shorts covered,
sold at the close.
Corn was easy at the opening with wheat
and the showers which, though unfaVorable
for wheat, were good for corn. Shorts
were disposed to cover, and this in sym
pathy with the upturn in wheat, caused
the market to rule firm for a greater part
of the session. Receipts were 1877 cars.
July opend &c lower at 249sc, advanced
to 247s025c, and closed at 24%Q24bc.
Oats were steady within &c range.
Trading light and consisted principally
of changing from July to September. No
features of interest developed, the steadi-
ness being through sympathy with corn.
Receipts amounted to 406 cars. The visible
supply decreased $4,000 bushels. July
opened unchanged at 1Sc, sold between
177sQ1Sc and 1874 closing at 18c bid.
Provisions were strong, helped at the open
ing by higher hog prices and latterly by
an all-around demand with small offerings.
A good advance was shown for time, but
before the close realizing sales had caused
the market to react. AT the close July pork
was unchanged at $40; July lard, 545l2c
higher at $3.75Q3.T712, and July ribs Z42c
higher a $435
Estimated receipts for Wednesday
Wheat, three cars; corn, AGO cars; oats,
230 cars; hogs, $1,000 head.
Leading futures ranged as follows: