The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1898-06-19
WHEAT STILL LOWER
JuIy Option Broke 8 Ia and Sep
TENDER 1.8.
HOLDERS OF JULY SUFFERED PANIC.
The Decentralization Of Liverpool
Was the Cause.
THERE WAS A SLIGHT RECOVERY.
THERE WAS A SLIGHT RECOVERY,
Cora nnd Provisions Also Closed
Lower for the Day While
oats Were Unchanged.

Chicago, June 18.-Demoralzation In the
foreign markets and all pervading feel
ing of a gigantic crop here weakened wheat
today. July left of with loss of Sh ana
September 1jsc lower. Corn c,osel s-sc
higher and oats unchanged. Pork closed &C
lower; lard 2Isc down and ribs Sc lower.
The holders OF July wheat were thrown
into something of panic at the start by
the news from Liverpool where spectators
were said to be demoralizcd. AT one time
the price Of July there was quoted SIC per
bushel lower than last nights price. For
some days the feeling in July here has
been steadily growing weaker and when
the adverse news from Liverpool was re-
ceived the price OF July fell OF to l2hc,
a drop OF 30 from the close last night. a
considerable portion Of this decline was
recovered on general buying, September
and December showed fair degree Of
strength and sold somewhat higher at the
start, but finally broke on the demorahzad
feeling In July. September sold down TO
6Tss or 1sc below the close yesterday,
while December declined to 6Sss. The rally
longer futures and they got additional help
from the liberal buying by shorts who
took advantage of the break TO buy In and
secure profits and under the cond tons
there was u good rally. The continental
markets We're very weak and when the de-
clines of the day were announced from
Paris and Antwerp prices here had an-
other severe setback. While more rain was
reported in the Northwest the weather IN
the South and Southwest, where wheat is
in It's rlpening stage, the conditions are
excellent. The declines at Paris were sac
bushel for June and 3Ac bushel for
September and December. Antwerp was
down equivalent to SIC for American red
and 2Ssc a bushel for Californian. The re-
ported prolongatiOn OF the period for free
importation OF wheat into Italy was con
tradicted. The time will expire July /, AS
was originally intended Domestic receipts
were very llght-iifteen cars at Chicago ami
ninety three at Minneapolis and Duluth.
The weeks receipts at the two latter were
61s cars. The Atlantic port clearances were
very small, amounting in wheat aud nour
to 1850 bushels. July opened tn2c lower
at 7SW74hc, sold down to 72iac. advanced
TO I2c, then Armed up to 72Ac ut the close.
September started 1-Sm3-sc higher at GSh
G6Shc sold down to 67 b-SC rose to 667sc,
then weakened to &c bid. the closing fig-
ure. The strength In corn was duo to tho
impression largely prevailing among In
fiuentla corn traders That the crop can
not turn out well without most exception
ally favorable weather from now until IT.
maturity. Heavy rains In the Western
States during the last twenty-four hours
tended to maintain the courage of the
buils.
Oats derived frmer feeling in sympath,
with corn.
Influenced by strength In corn provision.
showed slight Improvement. Estimated
receipts for Monday; Wheat IL, corn $40
oats 100 ears, and hogs $4,000 head.
VIC lendins futures ranged ns foliowH: