The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-07-28
BREAK IN WHEAT PRICES
SLUMP AT LIVERPOOL AND FAVOR
ABLE CROP WEATHER REPORTED.
Weakness Extended 10 All other Chi
cagO Markets, Provisions ScOr~
ing Marked Declines.

CHICAGO, July ga break at Liverpool
and Antwerp weakened wheat here to-day
September closed ss@94c lower and Deem
Der AQHc down. Corn left off sc lower.
oats lost SQ14c, pork declined Csc and lard
and ribs 15c each.
With slump at Liverpool and favorable
weather. wheat started at a decline. Sep
tember which closed yesterday at 67Ac,
opened at from Csc to 651sc and settled to
645sc before all the early offering could be
absorbed. July started at &c decline, the
first sale being at zoe. Before it did better
it sold another cent lower. A demand for a
small quantity of July soon divulged how
little was for sale on the appearance of any
legitimate demand. From CSC there was an
immediate jump to 71Ac The trading sent
in was bearish and every one seemed to be
on the selling side. About the only demand
was from shorts who had a satisfactory
profit and bought on the decline to secure
1t. The export inquiry was aroused to great
er activity by the decline in price. New
York reported a considerable quantity sold
to the continent. This caused a slight rally
near the close, but partly failed Of effect
on account of decline at Antwerp of "a
$40 a bushel on the report of good yield
throughout the continent. Chicago receipts
were $50 cars, compared with 140 year ago.
The contrast between this and last years
arrivals at Minneapolis and Duluth was as
strong as ever, numbering eighty-two cars
to-day, against 80 a year ago. The clear
ances from Atlantic ports amounted in
wheat and flour to 10000 bushels. Septem-
Der opened 1s@4c lower, at 65Q651sc, down
to 649sc, up to 65Ac, reacted to 64Ac, then
hrmed up to 641zq649sc at the close; Decem-
Der started 1sG12c down, at 65Gl652sc, de-
clined to 64ssc, then up to 64%c asked, the
closing figure. July closed at roc.
The heavinesS of wheat was felt in the
corn pit and had tendency to depress the
latter. Generous rains fell in various sec
tionS, but the weather was still very dry
and hot in some important regions of the
corn-growing country. The general senti-
ment was bearish and indications of I'M
tire fraternity in a similar proceeding. On
the break the country east of the Missouri
did some buying and there was slight
rally. September opened A@3sc down, at
34AQ343sc, firmed up to SAGE, declined to
3S7sc, then rose to SAC asked at the close.
Oats were firm early on the immediate
demand for the cash article Later prices
sagged with corn. September opened lsc
then firned up to 2O3sQ2O12c. the closing
price.
Outside buying started provisions rather
STACY b fba t nfber pee in
sold freely. September pork opened un-
changed to 2I2c lower, at $3.50. sold up to
1915, dropped to $92712, then recovered to
$9371s, the closing figures September lard
declined to $3.50, then advanced to $5.S712 al
the close. September ribs began unchanged,
at $5.5219, sold up to $5.55Q55712 fell off to
1921 and closed at $5.3712
Estimated receipts o-morrow-Wheat, 100
cars; corn, 400 cars; oats. 210 cars; hogs. 3D.
600 head.