The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-06-11
CROP DAMAGE STORIES
LED TO HIGHER PRICES FOR WHIT
AND OTHER CEREALS.
Some Disposition to Wait for the
visions Fell OF, Pork Losing soc.

CHICAGO, June 1O.-The advance in corn.
the excessive rains and complaints from
every direction of crop damages strength
ened wheat prices to-day. July closed 15c
and September 5s@a4c higher. Corn left off
7s@1c up and oats advanced 15c. Pork lost
soc, lard 15c and ribs 2211c.
The crop damage reports continued to be
the chief bull feature at the start. There
seemed to be a growing apprehension that
the harvest would be seriously delayed and
that the grain would suffer serious injury.
Wheat in the southern half of Kansas was
said to be about ready for the harvest. while
the fields were said to be flooded. Numer-
Gus other kilograms from different parts of
the country sent equally bad reports, but
interspersed with the heralds of calamity
were few others of a more reassuring
character, suggesting the possibility of the
alleged disaster being more imagination
than the actual facts. There was DISPOSE
ton to wait for the government report, and
this acted as a check to speculation. The
clearing up of the weather in Chicago
caused a temporary change in speculative
sentiment. The in about two hours
after the opening of the session was beam
ms in at the windows of the Board of Trade
and melted all the bull feelings out of the
crowd in the wheat pit. From being very
strong the market became weak and the
early gain was more than lost. General
buying by shorts gave the market fresh
impetus near the close. Chicago receipts
were eighty-one cars, against six a year
ago. Minneapolis and Duluth received 221,
compared com with 22S the corresponding day or
last year. Atlantic port clearances were
equal in wheat and flour to $4,000 bushels.
July began Ac lower to Nc higher at s71sQ
tirmed to S5Ac bid, the closing price Sep
TENDER started Ac higher, at 753sQ7512c, ad-
vanced to 161sc declined to 7412c, then rose
to 751sc asked at the close
The trade in corn was the most active on
the floor. The country came forth in Wig
orous terms in numerous kilograms to de-
scribe the possible effect of too much rain
NO sooner had the session started than a
buying frenzy seized the pit. Shorts made
a general rush to cover, scalpers loaded up
freely with what afterwards proved to be
cheap property. and liberal buying orders
12c higher, at 327s@93c, advanced quickly
the close
Crop reports were unfavorable for oats.
the general complaint being that the heavy
rains have beaten down the grain beyond
recovery. There was large business trans
higher, at 241s@2414c. sold up to 247sc, down
to 23a4Q231sc, then rose to 24Ac a the close
A decided slump in provisions contrasted
strongly with the general strength in grain.
The decline was ascribed to reports of yellow
fever in Mississippi Commission houses
started selling at the opening and prices
continued to sag gradually, and had only
small recovery at the close from bottom
prices July pork opened 1GG15c lower at
$l0.35Q1O40 sold down to $1015 then rallied
to 1920, the closing figure July lard start
ed. lOc down, at $3.50. sold up to $60212, then
fell to $500 the closing price. July ribs be-
gan 25c lower. at $5.75, advanced to $1,000
5;621a; declined to $5.521a, and rose to $3.50 at
Estimated receipts for o-morrow-Wheat,
90 cars; corn. 72o cars; oats, 200 cars; hogs,
LEADING fut