The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-06-30
NO ACTIVITY IN WHEAT
ABSENCE OF TRADING LED TO
DOUBTS OF ALLEGED CORNER.
Prices of Both Grain and Provisions
Remain Close TO the Final Prices
OF the Previous Day.

CHICAGO, June 29.-The recent activity in
July wheat trading was conspicuous by its
absence to-day, and the absence of trading
led many to believe the corner, if one had
existed, had been worked out. The July
option closed at half a cent decline. Sep
TENDER, which was more active closed
small fraction higher. Corn and provisions
closed firm at about unchanged prices after
recovering early declines. Oats were weak
and lost Ac.
Wheat opened under a bearish infu-
ences of good crop weather favorable re-
ports of thrashing returns, increased esti-
mates OF the yield by Thoman and indiffer-
ent foreign markets. July was offered for
sale at from $3.50 to 69a4 s4c below the
price it closed at yesterday September
opened at Csc, &c below the figure it was
bringing the day before. There was no APP
parent desire to press offerings at much
below the starting Trading was light
both in July and September deliveries, with
more doing in the latter than in July.
July recovered to roc, then sank to 6972c.
and worked up again to zoe, where it stood
for long time September recovered to
641sc and rested between that and Csc for
an hour or So New York reported clear
ances of wheat and -four equal to 535, 900
bushels, which helped the bulls here to
keep their courage UP. Chicago receipts
were twenty-nine cars, and II, 300 bushels
were Withdrawn from store. Minneapolis
and Duluth received 3S7 cars, against TO
the corresponding day of the year before.
CIearances from Atlantic ports were Gill;
600 bushels, and that began after a while
in the absence of anything further of a
bearish character to induce some to buy.
September rose to 6512c and July to 707sc,
which We're the prices current about Il
O'Clock, when Bradstreets worlds visible
statement was published The latter re-
ported a total decrease of $685. 900 bushels.
That was disappointment, as a decrease
of 6,000,0 900 bushels had been expected, and
a slight decline all around resulted. Some
milling demand for wheat absorbed about
125, 900 bushels of the local stocks, the supply
of which available to deliver on contracts
is now only 3,800,000 bushels July, after
the decline succeeding Bradstreet's report,
advanced to 7o12c and again fell to zoe,
closing at that. September sold as high
as $3.50 and down once more to 647sc clos
ing at 65l4c. The latest decline in Septem-
Der was caused by the closing out Of line
bought earlier in the session.
Corn opened weak, and declined Ac be-
fore any support was given. Thoman'S
report predicted the largest corn crop ever
raised, Another weakening factor was the
unsettled condition of Iowa freight rates
Later in the session there was liberal buy
ing on unfavorable private crop reports
and a firm feeling prevailed during the
rest of the session Local receipts amount
ed to 7S1 cars September opened &c lower
at 257sc, declined to 25&4c, and advanced to
Ao1Su-o14C. IS NlO9tliS pa ne W pSo GoS.
In oats, large receipts fine weather and
early weakness in wheat and corn caused
an easy feeling and prices declined. Offer
ings were large and a good business was
transacted. A Steadier feeling was notice.
able near the close, with but little recovery
in prices, however. September opened 1sc
lower, at 11Bc, declined to 173s@17a4c and
closed at 17$4c. Local receipts were GIG
cars the largest in some. time.
Provisions opened weak on selling by
people who had good profits on yesterdays
advance Buying orders increased as the
numerous to cause a recovery of nearly all
the early decline. Brokers for Cudahy
At the close Senfem{r por was Sc ioWer
at $3.50; September lard unchanged at
&.25, and September ribs unchanged, at
$4.621a.
Estimated receipts for Wednesday,
Wheat, 16 cars; corn SO cars; oats, 265
cars; hogs, $1,000 head.
Leading futures ranged as follows: