The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-07-16
WHEAT WAS VERY WEAK
IMPROVED CROP CONDITIONS
FORCED THE PRICE DOWNWARD.
Corn Was Strong and Higher and Led
the Oats Market-PrOvisiOns Dull
and Firm at n Small Loss.

CHICAGO, July 14-Wheat was weak
from start to finish to-day and closed at a
decline of rA61%c. This makes over &c de-
cline in three days. The marked improve
ment in crop conditions in the Northwest
has kept prices on the down grade. Corn
was strong on the continued Southwest
drought. and closed nc higher. Oats adj
vanced bc, and provisions declined 5d11zc.
Within ten minutes after trading had
started in the wheat pit, the price of Sep
TENDER had been forced TO a point over a
cent below yesterdays closing figures.
September opened unchanged to &c lower
at 79d79Ac, and under selling orders from
all over the floor, the price was steadily
pounded down until IL had touched 777sc.
TIL principal, in fact, almost the only fac
tor in the rapid decline was the improved
condition in the Northwest. Rain and
cooler weather in the Dakotas and Mime
sofa were reported to nave greatly i'm
proved the condition of wheat, and the
Minneapolis Journals estimate of a crop
for those three States of from 1876, 600, 900 to
$50. 0O0,O bu, was given a great deal of
credence by disgusted holders of wheat,
who unloaded as fast as they could. At
T7sc, the demand, which up to this time
had been slack. improved. the Northwest
sending in good buying orders, while local
shorts covered quite freely for a time. But
In the last hour of the short season the
market again became extremely dull and
weak. With the stoppage of the demand
prices again slid off very quickly, and
shortly before the close the lowest prices
of the day were reached, September selling
l@-v- a. -AZ---yo U~La E..l -,,1.t:o 80
that option was 777c. A good many stop
loss orders were uncovered during the final
decline. Chicago receipts were sc cars. IS
of contract grade. Minneapolis and Duluth
receipts were 24 cars, against 137 last week,
and GIL a year ago. Total primary receipts
amounted to $685. 600 blu, against 69S, 600 bu
a year ago. New York reported five loads
taken for export.
Corn was quite strong all day. The
drought still continued in Kansas and Ne
braska, and damage In some sections was
reported as serious. september, at one
time, showed an advance of 1c, but during
the last hour of trading the market was
somewhat influenced by the weakness of
wheat, and prices did not hold. y great
deal of long corn was sold on the early
bulge. Receipts were 663 cars. September
ranged from +4Ac to 443sc, and closed zee
higher at 44Ssc.
The market for oats was firm but fea-
t~ureless. Trading was of only moderate
proportions with the. price apparently con-,
trolled entirely by corn. Corn reports were
rather unfavorable. Receipts were les cars.
September ranged from 24ssQ24Ac to 24as9
241ac, and closed &c higher at 242c.
Little was done in provisions. Lower hog
prices and the weakness of wheat had some
effect on prices, which yielded slightly
early in the session. AT the decline the
market became steady and held so for the
remainder of the session. September pork
closed nc lower at SIZES; September lard
SC lower at s6.S711G6.90, and September ribs
&c lower at $685..
Estimated receipts Monday: Wheat, rs
cars; corn, GA cars; oats. 225 cars; hogs, 34.-
600 head.