The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-06-24
WHEAT THE ONLY LOSER
FINE PROSPECTS AND LOWER
CABLES DEPRESSING FACTORS.
Corn and Oats Add Materially to Their
Prices and Hog Products Close
at Small Net Gains.

CHICAGO, June 22.-Disappointing cables,
with good harvesting weather in the South
west, together with reports of continued
excellent growing weather throughout the
West and Northwest, had a most depress-
ing influence on the wheat market to-day,
and September closed at loss of sc. Sep
TENDER corn closed 5sQ$.c higher, while
oats were Aqas higher and provisions 90
10c higher.
Everything combined TO create a decided
weakness in the wheat pit and the opening
was weak and lower The fine crop pros
poets, with lower cables, discouraged hold
ers, and as result considerable long wheat
came out, but at declines of 1sG17c. Shorts
attempted to cover and take profits out
there was little for sale, and prices raj
lied. The advance was we'll maintained
throughout the day, the market holding
steady One of the chief bull influences
was the strength in corn essi septeim n6e
free selling by commission houses and To-
calls. the price dropped TO 66sc, around
which figure shorts covered. advancing the
market to &c. A steady feeling prevailed
around these figures, and the close was
lsc lower. at 66sac. Eighteen loads were
taken for export. Seaboard clearances of
wheat and flour were equal to 25l,5S4 blu.
Primary receipts were 447, 307 blu, against
5S5. las a year ago. Minneapolis and Du-
luth reported 324 cars, compared with -Si'
last week and All year ago. Local re-
ceipts were 63 cars. none grading contract.
Weakness was noticeable in the corn pit
early. due chiefly to the weakness in wheat.
Offerings were heavy for short time,
ana were quickly absorbed by shorts. One
prominent short who was seller yester-
day bought in the neighborhood of mil
hon bushels of corn. and this action was
followed by general covering. Small re-
oeipts and poor grading. together with re-
ports of damage by heat TO the growing
crop In Kansas, were also Strengthening
factors September ranged between 1886
and H7sc closing with an advance OF tsq
&c at 443sc. Clearances were .233 blu.
Primary receipts were 307, 240 blu, compared
with S55, sos year ago. Twelve loads were
reported taken for export Local receipts
were 1y2 cars, seven of contract grade.
Oats opened weak with other cereals,
and there was sufficient liquidation to pre-
vent a corresponding advance. September
ranged between 26isc and 26ssc. Toward
the close a good run of buying developed.
influenced by the bulge in corn, and Sep
TENDER closed Ease higher at 26i2G265sc.
Clearances were 100, 760 blu. Local receipts
were 1Iy cars.
There was very little interest manifested
in provisions. all eyes being apparently on
the grain market. The opening was steady
with some commission house buying OF
lard Light receipts OF hogs, doubtless
was the main strengthening factor. Sep
TENDER pork sold between SASS and Sl492lz
closing with an advance of 1iRc at Sl4.92ih
lard between S. 62iR and $S.75ds. 77iz, closing
with "A gain of l0c at SS.75; ribs between
$50 and SS.1215, closing 5uIlsc higher al
SS.12kc.
Estimated receipts for Monday: Wheat
a. cars; corn, $50 cars; oats, l52 cars; hogs
g., 600 head.