The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-06-28
AN UPWARD TURN
WHEAT ADDED 4 5-S CENTS TO ITS
PRICE On 'CHANGE.
Corn Gained Materially and Oats Were
HiGhcr-Provisfons Active and
Strong, Advancing Sharply.

CHICAGO. Tune 27.-Wheat was active
and firm, closing 1%c over yesterday. The
recovery was due principally to a cessation
of liquidation. A big cash usine helped
corn futures. July finishing the session 15sc
improved. Oats closed a shade higher and
provisions strong. July pork 521zc, July lard
221zc and July ribs 22lac better.
The liquidation which set in Monday had
not quite spent itself last night. and some
fag ends of 1t tumbled into the wheat pit at
the beginning of business to-day. This. to-
gether with some decline in Liverpool
cables, caused uneasiness. July opened un-
changed to nc vi at SIC to S2Ac. and quick
ly sold off to s11sc. At this point the liqui-
dation took the form of scattered selling
The demand was excellent from the North
west and the seaboard. and sold-out bulls
were also active in replenishing their
stocks. The remainder of the session con-
sequently was strong. Compared with re-
cent sessions trade was quiet. The rally
was gradual. and the best price was not
reached till afternoon, when July perched
at S4kc. The bulge brought out profit
seeking stuff and a dip to S31sc followed.
but the market quickly recovered to S3%c
and closed firm. July 1Nc over yesterday
at $3.50. August wheat sold between S24c
and S5Xc. closing 1%c up at sac. Liver
pool, following her opening weakness.
turned strong. and was in this way of some
influence in the recovery here. The crop
situation was not materially changed, ac-
cording to private messages. There were
light rains in the Northwest. They were a
factor in the dip from sac to Ss1sc. but the
recovery which followed this showed the
prevalence of the opinion that the North
west practically is beyond hope. New York
reported forty loads taken for export. and
there was some export inquiry here. Clear
ances at the seaboard in wheat and flour
were equal to $4,000 bushels. Primary re-
ceipts were 43O. 900 bushels, compared with
972. 1000 last year. Minneapolis and Duluth
reported 24 cars, against 35l last week ana
491 a year ago. Receipts here were ~ cars,
three of contract grade
Corn did not share In the early weakness
Of wheat. but readily responded to its later
strength. The news OF possible damage 10
growing corn, owing TO excessive neat or
some other cause. was aggravated by re-
| ports of extremely high temperatures In
parts of Kansas. Oklahoma and Missouri.
The loss of the hay crop In the Northwest
and an excellent shipping demand were
likewise strong bull factors. Receipts mere
i were DIV Cats. NOuIlly acceptance -
lieht and Liverpool was strong. July sold
| between 41ssQ411sc and 43asc, closing 1$sc up
at 42%c.
Oats were strong, opening at a decline,
| hut recovering IL. Trade was rather quiet.
| and the other grains were the chief inf1u-
ences. July sold between 24%c and 2ossc,
| closing a shade over yesterday at zossc.
Receipts were go cars.
Provisions were strong and fairly active.
| helped some by the grain strength, but
| chiefly by a good outside demand: July
pork sold between s12.40 and Sl2.so, and
| lard between $3.50 and $7.o2h, closing 221kc
better at $7.02lz. and July ribs between
| 7.o21k and $40, with the close 221sc I'M
| proved at $7.2o. Trade is gradually shifting
to the September delivery, n In this OPP
| ton pork closed soc higher at sl3.O212; lard,
| zoe better at $7.07ta, and ribs zoe up at
| $7.271zG7.O.
Estimated receipts tomorrow: Wheat,
| 105 cars: corn, $50 cars; oats. $50 cars; hogs
| 10000 head. r