The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-06-16
CROP DAMAGE REPORTS
OUTWEIGHED ALL OTHER INFLU-
ENCE IN THE WHEAT PIT.
Leading Cereal Up q Cent and Corn
and Oats Higher Provisions
Close at Small Advances.

CHICAGO, June 15.-After a period of
weakness early the wheat market to-day
turned strong on unfavorable crop reports
July closing lQ1Bc over yesterday. Corn
closed nc and oats &c improved. Pro-
visions closed steady.
At the beginning OF the session and for
brief time following there were the fol-
lowing considerations of bearish hue:
Weak Liverpool cables, rain in South Da-
kota and in the southern part of North
Dakota. and the weather bureau prediction
of rains for Minnesota and the two Da-
kotas. July opened sc to &c under yes
terday at 727sc to 72ssc. The bears had a
very short inning, however. The bulls
turned to their great friend, and through
out the session received from the North
west the gloomiest brand of crop reports
in the market. Some said the Northwest
would get half a crop; others that any kind
Of a crop would be a delightful surprise.
A Board of Trade statistician wired that
the yield I'm the drought territory this sea-
son under favorable circumstances from
now on would be not over 100, 900 bu.
planned of insect damage. and Tennessee.
Indiana and southern Illinois complained
of floods. There a steady demand
from the Northwest during the day, as
well as excellent support from local inter-
ests. July, from the opening. advanced
steadily to 7fsd74ss, and closed strong
161M over yesterday at 74c. Clearances
in wheat and -four were equal to 354,0OO
bu. Primary receipts aggregated $4,000 bu.
compared with 791,000 last year. Mime
apolis and Duluth reported ABS cars, against
| $50 last week and 665 year ago. Local re-
ceipts amounted to 81 cars, of contract
grade.
Corn opened weak on lower cables and
in sympathy with wheat. Trade the great
er part of the session was quiet. out the
| ings were light The GOODNESS and rains
West were unfavorable; there was a fair
cash demand and the wheat rally was
also help Of some magnitude. For ex-
port 10 600 bu was sold by one house. Re-
ceipts here were 598 cars. July sold be.
| tween 3Sssc and S9c. closing &c up at $3.50.
| Oats were quiet but firm save for a
little dip at the opening In sympathy with
wheat. Northwest buying of September
| oats was one of the features. There was
| a talk of a big July line held by Illinois
| operators, and fear was expressed that a
| squeeze might be expected, but there were
| many who said this line was not large
| enough to cause any uneasness. Shipping
| sales were 100000 bu. July sod between
| zzhfu Zzfsc ana zzrtc, CLOSING sc oNer yes
| terday at 225sG22Ac. Receipts here were
| 335 cars.
| The provision market started strong with
/ considerable outside buying at an average
| advance over last night of sc. Commits
| sion people led the buying for an hour
| netting further moderate advance, bu
| on the bulge packers sold. smothering ou
most of the advance. The close wa:
| steady July pork sold between 1.32l
| and 81. 171s011 20, and closed a shade highel
at 81 22lkf111 %: July lard between IS. 90 ln(
S. 471kd6.5 so, closing 21zQ5c UP at s6.5 ant
i July ribs between $6eoG6.621a and s6.52h
| with the close a shade improved at 1856.
Estimated receipts tomorrow: Wheat, 81
cars: corn. 700 cars; oats, 270 cars; hogs
10 900 head.