The Indianapolis journal., 1898-06-18
SUNSHINE HELPS BEARS
JULY WHEAT CLOSED AT 31-2C
Loss ON BRILLIANT WEATHER.
Foreign Markets Weak and Traders
All in a HumOr to SeIl-PrOvisiOns
Fail to Recuperate.

CHICAGO. June 1.-THE uplifting of the
curtain of rain-charged clouds that have.
for about three weeks, overhung the west
ern American skies let in such floods of
sunshine to-day that values of wheat were
withered. July closed with a loss of 31sG394c
and September 215d25sc. Corn left off 12s@
11ac lower, and oats are down NC The de-
clines in provisions were Pork 121hc; lard
50712c and ribs, &c.
Weak foreign markets and brilliant wealth.
er in the winter wheat belt presented an
opportunity for short sellers of wheat of
which they fastened to avail themselves
at the start September, which closed yes
terday at 705s@7034c started to-day at from
zoe down to $3.50, and, after touching 704c
for a moment, it began to roll down HILL
and did not cease it's descent for two hours
except to gather force for a further fall.
In that time it had declined to 6SAc. De-
cember, in the same time, had sunk from
7012c and 707sc all around the opening, tc
6914c. July had gone off from 7SAc to 77Ac
Everybody sold wheat and evinced no dis
position to buy it back, even on such
break that shown above. There was
nothing in their minds apparently, but the
coming of great crop of new wheat here
and in Europe, and the Fastening of the ad
vent of the home crop by the cessation of
rain and the fair and warm weather that
had generally succeeded it. The market re-
fused to respond for more than a few min
uteS at a time and then only small frac-
ton, and grew still weaker the close of
the session approached. Liverpool was 31ad
lower in July and 1Md in September. The
Paris market was heavy, ALSO and Antwerp
extremely weak. The domestic receipts were
small, and Atlantic port cearances large,
but such matters were Ignored. The re-
ceipts at Chicago were cars against II a
year ago. and at Minneapolis and Duluth
q cars, against @ 2S7 the corresponding day
of last year, or 207 ,0C0 bushels a year ago.
Atlantic exports of wheat and flour were
equal to 100000 bushels. Argentina shipped
only 272,000 bushels this week. July opened
1c lower, at 7SQ7S14c. sold down to 7719c, up
to 7Sc, then dropped to 751kc, the closing
at 70c,. declined to 69@69hc, advanced to
7014c, then fell off to 681sc bid, at the close.
The temperance of the sun in the West
ern country had a depressing influence on
corn that holders had frozen to for some
time and it all dropped into the pit. July
opened $sQ12c down, at 32Bd33c. and sold
off gradually &c, to 317bQ92c bid, the resting
price.
The weakness in-oats was mainly in SYM
pathy with the other grains, although the
weather was, to some extent bearish fac
tor. July opened sc lower. at 241sc, ad-
vanced to 24Ac, then weakened to 237sc
asked, the closing price
The decline in wheat and corn affected
provisions unfavorably. There desul
tory commission house selling. July pork
started zoe lower at $95212, sold up to
$9.6212. then declined to $3.50, the closing fig
ure. The range In lard and ribs was unim-
portant.
Estimated receipts for to-morrow-Wheat,
3 cars: corn, ASS cars; oats, $50 cars; hogs,
1S;cc0 head.
eat,