The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-07-22
ALL PRICES ARE LOWER
EVEN JULY OATS CLOSE AT A LOSS,
AFTER A SHARP BULGE.
Fine Weather the Overriding Iniu-
ence i'm the Pits-Losses Range Up
to 2c-PrOvisiOns Also Down.

CHICAGO. July 21-Rearish sentiment.
engended by fair weather and a better
movement in grains, was in the ascendant
to-day on the Board of Trade. For a short
time July oats threatened TO stampede the
crowd Of shorts by touching a new record
at 81. In the end. however, selling was
free in everything. and September wheat
closed sake lower, July wheat &c lower
September corn SIC down, July corn &c
lower. July oats NC down and September
oats %qAc lower. Provisions closed IA to
5712c lower.
After almost constant rains for such a
long time that shorts were in despair, the
fine weather of to-day, with plenty more
predicted. put the bears in fine feather
Both in the Northwest. where the spring
wheat harvest began to-day, and in the
Southwest, where wheat is in shock. the
conditions are very favorable. Wheat
cables were Indifferent to the local dip here
on Saturday, owing probably to threaten
ing weather in England and France But
this influence did not work against lower
opening. The wheat crowd was bearish on
general principles. Immediately, however,
on the early break, buying began, inf1u-
enced by marked decreases in the worlds
of 256O.O0O bu of breadstuffs on passage.
Receipts were very liberal. but contract
stuff remained very light Export business
was almost nothing. bids being II TO &C out
Of the way, and at Baltimore buyers were
reported asking TO have contracts can
celled. When estimates for to-morrows
receipts were posted at 43o cars, and the Wis
ible supply increased COZ, 600 bu, the early
bearish sentiment was revived and local
selling at once depressed the market. Trade
fairly large but was much mixed dur
ing the day. September opened Aqsc to
sake lower at 72G717sc, advanced to 129sc,
broke to T12dn3sc. and closed weak, Ssd12c
down, at 7l7sc. July sold at 77ssc on short
covering. but closed easy, &c lower, at 1614c.
Local receipts were us cars, five OF con-
tract grade. OF these 20S were new wheat,
but of the new only one car was contract.
Minneapolis and Duluth reported PSI cars,
total of 400. against CIT last week and 6sl
a year ago Worlds shipments were o6oS.-
600 blu, against 100000 last week and
$4,000 last year. Primary receipts were
100000 bu, against 1,5l50OO last year. Sea
board clearances in wheat and flour
equaled 100 blu.
Corn was dull and listless most of the
day, buoyed up only momentarily by a 1T
tie short covering on the influence or the
temporary wheat strength. TeCelplS "CAc
not large-276 cars-seventy-nine of contract
grade. But private elevators turned out 10
cars, making q total of contract stun out
amounting to 375, 900 blu. After the early
rally support wanting. offerings were
made freely by the local crowd and little
stuff was wanted There was not much
disposition to sell short. but the nne
weather which helped movement and grad
ing. and the large estimated receipts,
brought weakness. September sold from
60Ssc up to 612sC, broke to 6O1sc and closed
weak, 3s61ac down, at 6012c. July sold early
at &c but closed weak &c down at 65%c
Oats were weakest of the grains, al
though this market made the best show of
strength early in the session. a break 10
! &c early in July gave rise TO the rumor
| that the shorts had settled in this option.
| But at once the price was put up TO &C on
/ good support and a sharp trade resulted for
a short time. Receipts We're still very
! small-ninety cars-fifteen OF contract
/ grade but to-day there were eighteen cars
/ of new oats. Iowa sent reports that one
| third of the crop of that State had been
] damaged In the end the fine weather pre-
/ vailed against the bulls and all prices broke
/ on liquidation. Selling said to be for the
! interests that control the short lines now
out helped break prices September sold
! from 337sc down TO 33isc and closed weak.
! 5kda4c lower. at S3Ad33$sc. July closed
\ weak. 11Rc down, at &c
! Provisions were heavy and were for sale
| all day in much larger quantities than the
| crowd wanted at the asking prices Hogs
/ were abundant and had to sell at discounts
/ of Ice to 15c The selling was so concerted
that it appeared to be for the purpose of
breaking the market. September pork
closed 371sd3711c lower at SIS; lard 15c
! down, at S1O.75, and ribs TIC lower at
! $1067I2.
ESTIMATED receipts for to-morrow-Wheat.
435 cars; corn, AS; oats, 1885, hogs, 1900