The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-06-26
HEAVY WHEAT RECEIPTS
FOR THE WEEK THEY REACHED
4,2os CARS IN THE NORTHWEST.
Enormous Increase In Dome site
Stocks Expected to BE shown in
the Visible supply Monday.

CHICAGO, June 24.-Wheat to-day sold at
the lowest point II has touched for several
weeks and closed at a decline of 1Ac from
yesterday. Continued enormous primary re-
ceipts and evidences of a large visible in
crease discouraged even the most sanguine
bull. Corn and oats were heavy, in SYM
pathy, and closed Ac lower and AGSsc low
er, respectively. Provisions were in better
demand and advanced 2112c to &c.
Wheat opened weak at 75%d751kc for Sep
TENDER, compared with yesterdays closing
price of 76Ad76%c. Liverpool showed a
closing decline of Z97sd. Northwest receipts
were again heavy, Minneapolis and Duluth
reporting S5 cars, against 5g7 cars last week
and Sc a year ago. Chicago receipts were So
cars, 4 Of contract grade. Shows crop re-
port was decidedly bearish in tone. talking
favorably of the crops prospects and ma
terially raising the estimates on the total
yield for the year, putting both the winter
and the spring yield at 275, 00O, 900 bushels, a
total OF 100000 bushels. The total re-
ceipts at the big Northwest points for the
week was 4.2es cars. compared with 54s cars
a year ago. This contrast was more than
any wheat-holder could stand and liquida-
ton was heavy at the opening. The fact
initial prices were below puts" however,
acted as a steadying influence on the mar
ket for a time, as considerable buying was
done to protect those privileges. The mar
ket touched 75Ac Immediately after the
opening, but recovered to 1850 and held at
about that price until about II o'clock,
when a decline ensued. which carried the
price to a point lower than has been touched
for weeks. Total primary receipts were
LOT, 600 bushels, compared with 116.0OO BUSH
ole Inst vaar Atlantic mort 0loarQnpQo
amounted to 2s6, 600 bushels. New York put
the days export engagements at 40 loads.
This was not very encouraging. in view of
the foreign crop damage reports and the
heavy domestic receipts and the liquidation
which had been gradually growing in vol
ume, became general when figures were
posted showing a probable increase of about
a million bushels in the visible. compared
with a decrease, last year, of over 100000
bushels. Even the most sanguine bulls threw
over their holdings, or as much as they
could. for the demand was small at the
best. September finally declined to 741ac and
closed weak at 7429745sc.
Corn was slow and heavy all day: Re
ceiptS were large, LIZ cars, crop reports
were favorable and the cash demand was
only fair, sales of 10000 bushels being re-
fuence. The early decline brought out a
lot of long corn which. however, was fairly
well absorbed. September ranged from "a
to 34Ac and closed Ac lower at 341sc.
Oats were quiet and lower, sympathizing
with the weakness of other grains. A fea-
ture was the free liquidation Of July. Com
mission houses generally were sellers. The
cash demand was moderate. Receipts, 29
cars. September ranged from Else to 217sc,
and closed AQ3sc lower at I%Q2hc.
Provisions were a shade easier at the start
but a demand from shorts soon developed
at the concession and the prices recovered
quickly. The excellent cash demand un-
doubtedly Influenced buying, as did also the
prospects of an amicable settlement of the
labor troubles at the yards. At the close
September pork was DC higher at $8.35; Sep
TENDER lard, 2h@5c higher at $5.15, and Sep
TENDER ribs 215Q5c higher at A.&.
| Estimated receipts for Monday: Wheat,
10 cars; corn, 1925 cars; oats, 240 cars, hogs,
10000 head.