The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-07-03
ALL GRAINS ARE HIGHER
EARLY WEAKNESS IN WHEAT
OVERCOME BY FOREIGN NEWS.
Big Deficiency i'm the French Crop
NEUTRALITY-SUSPICIOUS. Heavy.

CHICAGO, July 2.~-Disappointing cables
and excellent crop prospects were the
weakening factors in the wheat market to-
day, but advices from France reporting
damage TO crops there, entirely overcame
the efforts Of the bear influences and Sep
TENDER closed AG%sc higher. September corn
closed ssd%c and oats &c higher. Provi-
sions closed weak and sc to 221zc lower.
Wheat was weak early on continued de-
clines at Liverpool and on fine harvesting
weather and increasing movement. There
was a complete rally later. however. on
French news, Broomhall reporting that the
crop in France had been injured by the heat
and storms, and private cables said France
would require eighty to ninety million
bushels of wheat from abroad. 1t was most
ly a local market. with shorts adding TO
their lines early and buying later on the
reaction. September opened 1sc lower to bc
higher. at 65%G657sc. Between these limits
the price held fairly steady. The low point
was touched at 65@sc. Toward the close a
quick advance was made TO 661sc. and the
close was firm and Ad3sc higher. at 66G
66hc. There was a decrease in contract
stocks In warehouses of 754.00 bu. Seaboard
reported so loads taken for export. Clear
ances Of wheat and flour were equal to
$4,000 bu. Primary receipts were 400, 600 bu.
against $4,000 a year ago. Minneapolis and
Dulutn reported III cars, against ID a week
ago and SO last year. Local receipts were 73
cars, IL of contract.
There was a nervous, active market at
the opening In corn, with conditions nearly
the reverse of those prevalent yesterday.
Showers over the corn belt, with reports
of no damage thus far to the growing
grain by heat caused a weak opening and
considerable long corn came out. Septem-
Der opened 2sq12c to a shade over a cent
lower than yesterdays close, and later the
price dropped to 45Ac. Toward the close
there was a sharp advance on good COM
mission-house buying, together with buying
472sc, closing S42c higher, at 47c. Contract
stocks In regular warehouses increased
$4,000 blu. Seaboard reported 10 loads taken
for export. Clearances were III, 900 bu. Lo-
cal receipts were IS cars, S contract.
Oats were active and lower early, recov-
ering with other grains toward the close.
Elevator interests and commission houses
sold July freely at the opening. Outsiders
were fair buyers of September. resulting
in a July discount of half a cent. Septem-
Der sold between 2sc and 27%G27hc, clos
ing 1c higher. at the high point. Contract
stocks increased 1000 bu. Clearances were
352. 900 bu. Local receipts were 15S cars.
Provisions were dull and heavy, on heavy
receipts Of hogs in the West and the in
creasing stocks. The worlds stock Of lard
was reported to have increased $4,000
tierces since June /. September pork ranged
between s1445 and s14. 70. closing 221kc lower,
$S.62h. closing TIC lower. at $500. Ribs
ranged between S.05 and S. TO-, closing SC
lower, at sS.07A.
Estimated receipts for to-morrow-Wheat,
40 cars: corn, 155 cars; oats. 20 cars; hogs,
$4,000 head.