The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-06-30
TOOK AN UPWARD TURN
WHEAT. AFTER A WEAK SPELL,
TURNED STRONG AMI ACTIVE.
Price Benefited Nearly Two Cents
Corn Lower and Oats Higher
Provisions lightly Advanced.

CHICAGO, Tune 2a.-Wheat was weak
carly. but later. on q demand for cash
stuff, less pressure from longs and reports
Of damages to winter wheat as well as
further complaints from the Northwest,
rose briskly. closing 17sc over yesterday.
July corn closed = shade lower and August
com a shade higher. Oats closed 1sqAc
down and provisions unchanged TO 17l3c
improved.
Wheat opened easy. August unchanged
10 &c lower at s1Ac TO Sic. Liverpool was
weak and the Argentine shipments heavy,
2,S52, 900 bu. Liverpool recovered most of
its early loss and this was reflected here
FOR the moment, August rallying to S11c.
Under moderate selling by commission
houses a decline to sossc followed. The
selling at this time was not heavy, rather
suggesting the end of the liquidation which
has sent the market down since Monday,
but on the other hand there was very little
pressure from buyers. Trade was rather
quiet during the forenoon, but later 1t be-
came more active and decidedly more
strong. Having digested news of bumper
corps in Kansas. Oklahoma, Indian Ter
ritory and Missouri, the bulls respectfully
ASSNS 800 PH
receipts. fly damages in northern Illinois,
Ohio and Indiana, and injuries from ex-
cessive rains in Kentucky, Tennessee,
southern Illinois and certain portions of
Missouri. Attention was also directed to
the Is per cent. deterioration shown in the
Illinois crop report. which put the winter
wheat condition at 81. They said nothing
about the spring wheat condition. which
the report makes 90. At the decline the
demand improved. The cash demand was
much livelier and Wall-stIeet interests ap-
| peared in the market as buyers. Another
assistance to the bulls was the announce
ment that a concern controlling 20 elevators
along the Great Northern had concluded to
leave these warehouses closed because of
the spring wheat disaster in the North
west. August recovered all its early loss
and, following up its advantage, climbed
to S3Ac. On the bulge there was the usual
profit-taking, but the market closed strong,
August 1Bc over yesterday at S3Qs3lsc.
July opened at S0979Ac. sold between 797sc
and Sl7sc, closing lac higher at s1nc. New
York reported twelve loads taken for ex-
port. C~learances at the seaboard in wheat
and flour were equal TO 1900 O bu. Primary
receipts were 4l5,oco bu, compared with
Nv Aao Val oho III
| reported 1874 cars against AIS last week and
| 502 a year ago. Receipts here were IS cars,
none of which graded contract.
| Corn was rather quiet and inclined, for
| the lack of other incentive, TO follow
wheat. The market improved later and
declined early with the major market. Re-
ceipts were liberal. S3S cars; the crop
| situation was favorable, ountry offerings
were moderate and Liverpool was easy.
There was considerable scattered liquida-
ton and some short selling. The rally in
| wheat sent shorts to cover and there was
a fair cash demand under which the mar
ket recovered. Changing July for August
| formed a considerable part of the business
434c and closed a shade up at 431sd43Ac.
July ranged between 421zc and 41Ac, clos
ing a shade under yesterday at 42Ssc.
Oats followed wheat and corn. off early.
Crop conditions were materially changed.
| There was considerable heavy commission
house selling during the forepart of the
| session, but some OF this was rebought
later. The Northwest was a buyer on the
| recovery. Receipts were 35 cars. August
sold between 2issc and 25c and closed 1s@Ac
| down at 24Tc; July between 24c and 241kc,
with the close Ac depressed at 24lsc:
Provisions were weak early and firm
later, presumably affected to a degree by
course of the market might also be
ascribed to the actions Of the two packing
interests. One of them was a heavy seller
early; This was stopped later and another
pork sold between $3.50 and $13.021a and
| closed 171ac over yesterday at So .97h; Sep
| tember lard between S7.0566.9 80, closing un-
changed at sos, and September ribs be-
tween s7.2od7. 221a and sos with the close
sc higher at 81. 2Od7. 22Ih.
Estimated receipts tomorrow: Wheat, Ills
cars; corn, 600 cars; oats. 22 cars; hogs,
21.0oo head.