The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-05-31
TOOK ANOTHER TUMBLE
ALL SPECULATIVE MARKETS DULL
AND LOWER AT CHICAGO.
July Wheat Declined Strong Frac-
ton, with other Grain in Sym
pathy-POrk Lost 1-2c.

CHICAGO. May 29-Speculative markets
were all weak and prices lower to-day. July
wheat lost 1ac, corn 12c, oats &c, pork 71ac
and ribs PFC.
The Improvement in the weather and es-
Inmates of a $50 900, O0O-bushel crop of win
ter and spring wheat affected that article,
and corn suffered from similar causes The
holiday on Monday, with accumulated re-
ceipts and perhaps fine weather in the
meantime was an additional element in
creating the weakness. Trading in wheat
commenced at the price it left off a yes
terday. 1t soon began to weaken, however,
and in about twenty minutes July dropped
CSC per bushel below the price it started at.
The Liverpool quotations were no lower
than they closed yesterday, which was the
reason for the firmness at the immediate
opening, Notwithstanding the bearish intu-
ence which seasonable weather usually has
on the minds of the spectators. That soon
began to have it's accustomed effect. About
the same time Thoman's June crop report
came out predicting a yield of 950OO,OOO
bushels more than last year. The market
became very weak on this. July opened at
6S&t Q6S7sc, sold at 6S7s@69c for moment,
then declined to 6S1z@6S5sc. Business was
apathetic and dull The holiday which Is
to be observed Monday caused general re-
luctance to enter into fresh TRANSACTIONS
and q desire to clear up existing traueo;
Chicago received seventeen carloaus, allu
"a 6S4 bushels were inspected out OF store.
Minneapolis and Duluth received 4oo cars
against 654 cars on the previous oaCuIuaS.
Clearances from both coasts for the week
were equal to 081 900 bushels, agalnst 2 oo9,o
600 bushels the week before ana 6oof;ouo
bushels the corresponding week o OF 1870, AZ
gentine shipped to Europe $4,000 bushels,
against 5000 bushels last Week. any
40S. 900 bushels the like week 60 OF
last year This was one OF the peaLls ~ ~
tors of the day, being a short day IN tne
business world both here and ABROAD. lneIe
is seldom any business in wheat 1or SLilP
ment Saturdays, ana none none W., mas - dPomes-
tic milIers The market became weaker as
the session progressed for lack OF anylnns
to encourage buyers, and that was 5Ilo 1 Il
to Stimulate short selling The trade was
very small, even at it's best, when July was
on the decline from AROUND bS9sc 70 o912c,
to which price 1t finally decllneu' Inc 4a'0S'
trading was at 6S$sc eco
Tn corn large receipts were again TOO
much for the market which ruIeu wear Weah
on a very limied amount of trading. CouIl,
try dealers and elevator people were general
sellers. The cash demand was SLOW. July
opened shade lower at $3.50 1 - eo e1iu
Market for oats was very SLOW. fIl Is
Welded some. in spite of statements that
the crop in Iowa and Nebraska VIII De
20 600 600 bushels smaller than last year. Re
ceipts were heavy, being 500 cars, ana CIls
and the weakness of other gram nlark marx
turned the grade downward. July opened
shade lower, at 1713d179sc, declined to 1850
and closed at 17$sQ1712c.
Provisions were slow and weak There
was an invitation for a time to play for a
reaction, and prices during the early hours
showed a slight advance. This was lost
later under liquidation English houses
bought on the break, and some reaction fol fol
lowed it. AT the close July pork was apout
nc lower at ST. 956I7. 971a; July lard about
Unchanged. at $S.621a, and July ribs Pee
lower, at $4.35. .,
Estimated receipts for Monday-Wh neat, Il
cars: corn. 1900 cars oats, 600 cars Hogs
AZ. 900 head.
eadinq futures ranged as follows: