The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-06-06
SLUMP IN GRAIN PRICES
BULLS COULD NOT HOLD OUT AGAINST
THE FINE CROP REPORTS.
Selling Movement Inaugurated Early,
soon Extending to All Markets
Pork ~ Lee Lower.

CHICAGO. June 4.-The sunshine and
warmth that was quickening the growth in
the fields wJthered prices in the wheat pit
to-day July closed with loss of 11zc and
September 11ac Corn left off 1ac and oats
AG1asc lower Pork, lard and ribs show de-
clines of 27]ac. lee and 5@712c, respectively.
The predominating factor in wheat at the
start was the weather and that was favor
able for the early maturing of the crop.
Liverpool was 24d higher for July and %d
up for September. Beerbohm cabied that
the weather in France was bad. These
items of information received no considera-
ton from local spectators. The sunshine
and clear sky that could be seen from the
Board of Trade windows had too potent an
effect to permit of other influences at that
time There were bug stories from Kansas
of a most narrowing description, and reports
from Buda- Pesth of rust in the wheat crop
of Hungary Even that could not overcome
the bearishness that had so suddenly seized
the crowd In about forty minutes after the
opening September, which closed yesterday
at SO1hMS05sc, had sold down to 79l4079ssc.
There was a rather nervous feeling in July,
however Shorts were disposed to cover,
and there was some demand for the long
account The crowd, however, which had
bought too freely on the bull sentiment yes
terday got discouraged at the tameness and
weakness displayed. AS the close drew near
they attempted to liquidate, and the
strength which had ruled in July early was
all lost. Near the close the bearish feeling
gathered in intensity in September and
that month suffered q still further de-
cline Chicago receipts were thrty-five cars,
of them contract, and 10000 bu were IN
spected out of store. Minneapolis ana
Duluth received 164 cars against $40 year
ago. The seaboard clearances of wheat ana
-four for the day were equal to 326,OOO bu.
July opened 1bc lower at 931s@94c sold up
to 941ac down to 1912, up to 94l2, fell on 10
92c and firmed up to 92S4c at the close sep
TENDER began 3sG7sc lower at 79ss@S9l4c, sold
down to 79c. rallied to 1850, declined TO
7S1ac and rose to $3.50 Ioa4c, tne CLOSING
An easier feeling was displayed in corn
on lower cables, large receipts and FAVOR
able weather for the growing crop. Export
demand has disappeared. July opened &c
lower at 33a331sc, sold down steadily to
325sc then steadied to S2ss@S2a4c at the
close.
There was some changing from July to
September in oats. July started 1sc off at
2414c and sold up to 24q2ils, the resting
figure. &
The firmness in provisions at the start
was based on the small receipts of hogs.
and an advance of 5610c in prices at the
yards Selling by packers turned prices
$11, sold up to $11.05. then dropped steadily
to $1067h at the close. July lard opened
unchanged al $61715 and sold down to S6.O71a.
July ribs began PIC higher at S.. S212, adj
vanced to $685. then declined to $575 at the
close.
Estimated receipts for Monday-Wheat, Sc
cars corn 1,230 oats. 800: hogs, 10000 mead.
Leading futures ranged follows: