The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-06-25
FINE HARVEST WEATHER
EARLY MOVEMENT OF NEW CROPS
EXPECTED AND PRICES FALL.
Heavy Exports Cause Renewed Fear
as to What May BE ArmOur's Plans
provisions Score Declines.

CHICAGO, June 24.-Fine harvest weather
and the prospect of a much earlier move
mept of the new crop than usual weakened
wheat to-day. July left off INC lower and
September 1AG13sc. Corn declined 15G5sc,
and oats s4@7sc. Pork and lard closed 214c
lower and ribs unchanged.
A decline at Liverpool where an advance
was expected on the rise here yesterday,
started wheat weak September opened at
from 6712c down to 679sc, and slid off to 671sc
in a very few minutes, the latter showing
Bd1c decline from yesterdays final price.
There were plenty of buyers at the conces-
sion so readily offered, and there was soon
enough OF them to cause a quick recovery
to 675sc. In addition to the bearish infu-
ence of lower foreign markets was the per-
feet condition of the weather throughout the
region where harvesting is in progress. Ac-
counts of crop prospects from the spring
wheat region were of the most encouraging
kind. excepting in a few instances from a
portion of South Dakota on account of def
Cient rainfall An official report applying
to that State as a whole, said that never
before at this season were prospects so bril-
liant for an enormous yield. On this news
the selling sentiment dominated and prices
sagged once more The market continued
TO droop on advices from st. Louis that
cars of new No. red wheat have arrived
there. The trade was more or less nervous
over Armours position. His large interest
In cash wheat led many to think that he
might undertake to manipulate the market
In the bull interests. The sellers were more
cautious in liquidation than in short selling.
Lowest prices of the day were made near
the close. Chicago received IS cars, against
10 year ago. Minneapolis and Duluth re-
ceived only 1874, compared with 267 last year
1t was explained of Duluth that of the 172
cars received there to-day, 120 were from
minneapolis en- route to Eastern millers.
me Atlantic port clearanceS of wheat and
flour were equal to the enormous total of
l,OSOOOO bu, but as that was supposed to be
chlef1y Letter wheat rushed to France before
the duty should be reimposed it did not
lower. at lac, sold up to 74Ac then declined
to l3c, the closing figure. September start
ed 9sc lower. at 67asQ671sc, rose to 675sc, sold
OF to 669sQ66a4c, and closed at 66%c bid
Fine weather caused drop in corn at the
start. Holders of puts bought on the break
and prevented further decline during the
f1rst half of the session. Later, when wheat
became SO heavy, corn participated in the
decline. July opened sc lower at 321sc de-
clined to 32A@32ssc, advanced to 321hc down
to 32c, and steaded to 321sc bid at the close:
Lack of cash demand and the other de-
cllnes weakened oats. July began h0Ac
down, at 239sc, and sold off to 23c bid, the
closing price.
Provisions were weak with the coarse
grains. A large cash business was reported
to have been done in ribs for domestic con-
sumption. July opened 212c higher, at $685.
declined to $9.45. then rose to $3.50, the clos
ing price The range in lard and ribs was
inconseQuential.
Estimated receipts for to-morrow-Wheat.
10 cars; corn, 275 cars oats 145 cars; hogs,
1900 head.