The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-06-18
BIG MARKET In WHEAT
PRICE At THE HIGHEST DURING
THE PRESENT BULGE.
had Crop News Outweighed All other
ConsideratiOns--Cor Oats and
Provisions Closed Higher.

CHICAGO, June ia heavy trade and a
big wheat market to-day bore testimony
of the growing interest in the pit. July
closed 1ls01Ac over yesterday. Corn closed
15c and oats &c improved. July pork closed
25d27lsc. July lard 171sc and July ribs 15c
higher.
The wheat market was broad and excited
The increased outside interest was espe-
ciauy noticeable, although most of the
time trade was altogether too large TO fol-
low in detail. In a general way it was a
buyers market, with numerous contin-
gent of longs out after profits The buyers
We're the more numerous we'll the
more eager. and strong advance was the
result. July opened sc to 1c higher at 75c
to 74ssc, and shortly afterward sold at 75c.
Liverpool was lad higher. an evidence
that the English are appreciating some
thing Of the wheat situation in the North
west South Dakota and southern Mime
sofa had some rain. but the showers were
not general From the South there were
complaints of heavy rains. This was the
lineup of bullish news which was of in
fiuence early and throughout the day. Dur
ing the wheat session the wires were hot
with very gloomy reports of the outlook
in the Northwest. July, following the open
ing. was crushed back to 74ssc by the
liquidation of longs. A rally ensued The
long stuff was well taken, and on the dip
eased I'D while the demand continued I'M
abated. July advanced sharply to 75ssc,
the highest price of the recent bulge. and
held nearly all of it. Over 75c there was
l,a -1l1i- l,trf xxroll
their offers taken that July reacted only
%dl5c and closed 1B@1kc over yesterday
at 75ls@75Ac. Generally the advices from
the spring wheat authorities were that the
failure and the season would prove the
worst the Northwest has ever known.
France, 1t was said, would have to import
100000 bu to make up her deficiency. Com
plants of excessive rains were received
from Illinois, Kentucky and Tennessee.
Clearances in wheat and flour, were equal
to 697 900 blu. Primary receipts aggregated
$4,000 bu, compared with 1920 blu last
year. Minneapolis and Duluth reported 45l
cars. against 40 last week and S97 year
ago. Local receipts were " cars, one of
contract grade.
Corn was firm in sympathy with wheat,
but trade was not active, there being a
number of assertions from that pit to
wheat. Country acceptances of last nights
bids were small, which also a help.
The Argentine corn surplus available was
put at 12,00O,0O0 blu. Local receipts were 6S1
cars. July sold between 39c and 1850, closing
12c up at 1850.
Oats followed wheat and corn. Shorts
were good buyers of both July and Septem-
Der, while the best selling came from profit
takers. The Northwest took profits lber-
ally on the September stun around 22Ac.
September opened at 221s@229sc, sold to
22s.c, and closed at 22Ssc. July sold between
22s4c and 23c, closing Lc over yesterday at
23c. Receipts were 256 cars.
The provision market was fairly active
and strong. The strength was because of
light hog receipts. higher prices at the
yards, and, to a degree, on the grain
strength. July pork sold between sl1-30 and
s11.5O, and closed 254271ac over yesterday at
$11. so; July lard between $500 and 1870, clos
ing 17lkc up at $780, and July ribs between
$3.50 and $3.50, with the close 15c higher at
$50
Estimated receipts 0Monday-Wheat, %
cars; corn, 740 cars; oats, 300 cars; hogs, 3d.
he