The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-07-25
TRADE WENT TO PIECES
WHEAT BROKE MORE THAN A CENT
ON CROP NEWS.
Corn Also Lost Heavily, but Oats Were
Relatively Firm-Provfsions Steady
on Light Hog Receipts.

CHICAGO. July 24-Bearish foreign
news and an apathetic outside attitude
were largely responsible for weakness in
wheat to-day, September closing 1lzG1ssc
under yesterday. Corn closed 1q11sc down
and oats Ac depressed. Provisions at the
close were unchanged to sc down.
Wheat had not recovered from the In
lection of foreign bearish news when the
market opened to-day, and September ac-
cordingly began the session 2sGlkc to IA
&c down at 767s@76l4c. The crowd figured
that with little export business here, prob
able large Southwest receipts and the in
creased Russian and Danubian shipments
announced yesterday, wheat was not worth
prevailing prices. Following this the mar
ket on covering by shorts for profits and
a little scattered buying, rallied to 7624c.
II slid off with the greatest ease, helped
by the decline al Paris, reports that France
would raise wheat enough for her own con-
sumption and that Russia had a large sup
ply of hold-over wheat, and by lack of
outside support September early declined
to 755sc, rallied to 761sa7sl4c. lost it's hold
again and then, on Bradstreet's announce
ment that the worlds visible had de-
creased 100000 bu. recovered to 1850. This
bulge. like the others, was lost and the
close found the market at its weakest,
September 11zd1%c under yesterday at
75Ac Winter wheat points received less
wheat than the same day last year, $4,000
bu. against $4,000 bu year ago. These
figures were influential in the second re-
covery from 75ssc to 761sq7614c. New York
reported forty loads taken for export and
cash sales here were put at $1,000 bu;
Clearances at the seaboard. in wheat and
flour, were equal to 81 900 blu. Primary re-
ceipts aggregated $4,000 bu, against ga,
900 the corresponding day last year. Mime
apolis and Duluth reported 23f cars, COM
pared with 2O4 last week. and 2S6 year
ago. Local receipts were 81 cars, DO or con-
tract grade.
Corn was quiet and lower early, but
steadied after a good concession in prices.
There were heavy rains in the best grow
ing States. Another encouragement to the
sellers was to be found in the talk that
the export demand, which has been very
excellent, was showing signs of exhaustion.
Some exporters were credited with resell
ing here. The prices suffered over 1c early
and thereafter fluctuations were narrow
not much pressure either way. Septem-
Der sold between SOC and CSC and closed
1G11sc down at 2Sl9c. Receipts here were
6S3 cars.
Oats were relatively firm. supported by
the Iowa report that oats In shock and In
| stack had suffered from the incessant
rains The Northwest was a moderate sell
er. while there was some good local sup
port. September sold between 23A@23$sc and
| 23G231sc. closing nc down at 231sc. Receipts
were 1877 cars.
Compared with the grains, provisions
| were firm. easing but little in sympathy
with the grain weakness. The market fell
the sustaining influence Of light hog re-
| ceipts and liberal shipments of produce
| Trade was quiet. September pork sold be-
tween s12 and S1l,S7la and closed unchanged
| at 11921k; September lard between $6.77h
| and s6S71b, closing sc lower at S6.7715 an6
| September ribs between 81 and $69212, Will
| the close 2l1c depressed at $685..
| Estimated receipts to-morrow-Wheat,1 Is
cars; corn, $50 cars; oats, 20 cars; hogs
| 26.0 900 head