The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-06-15
LIGHT TRADE in GRAINS
MARKETS VERY DULL At GENER-
ALLY DECLINING PRICES.
Corn the Only Exception, Holding
Firm and Closing Higher-Provi-
sions Also Weak and Lower.

CHICAGO, June H-Apathy pervaded the
pits of the Board of Trade to-day. Traders
paid little attention to anything but wheat.
and not much to that. Inasmuch as wet
weather has ruled the pit for the last week,
when prospects Of clearing skies were re-
ported wheat lost its strength. Oats SYM
pathized somewhat, but corn was under
manipulation and held firm. At the close
July wheat was s497sc lower, corn 1sq14c up
and oats &c down. Provisions closed nc
down for everything the list.
Late selling developed the only activity
that the wheat pit experienced to-day. At
the outset cables were lower, indicating bet
ter weather in France and England. The
Southwest sold literally in spite of the fact
that the, country still had a soggy blanket
spread over it and more rains were falling.
Commission houses took a little stuff on
the score that not since the Letter deal have
there been such clear indications that
stocks of old wheat are practically ex-
hausted. A belief then seemed to take hold
of the crowd that fine weather was at hand.
Private kilograms buoyed bears up to this
opinion, and when the leading elevator in
terest began selling very freely the crowd
was sure a reaction was setting in. All this
while the pit was very dull. As the selling
progressed a gradual decline ensued, and
July, which had opened unchanged to sc
lower, at 72Ssc to 7212c, Slumped to a weak
close and %G7sc lower, at 71%Qn7sc. Local
receipts were twenty-five cars, five of con-
tract grade; Minneapolis and Duluth re-
ported 217 cars. a total of 239, against PSI
last week and 492 year ago. Primary re-
ceipts were 357 900 bushels, compared with
$4,000 last year. Seaboard clearances in
wheat and -four equaled $4,000 bushels The
seaboard reported fifteen loads taken for
export.
Corn was exceedingly dull, even for Sat-
urday. Wet weather all over the corn
States hindered the movement and grading,
but lower cables and the wheat weakness
Offset the bullsh factors and the pit was
left much to itself. In spite of the lifeless
nature of the pit corn held very firm. Two
rumors were going the rounds relative to
the big deal in July options. One was that
the Wall-street crowd was shipping out
cash stuff. The other had K that j. Ogden
Armour, rather than the Wall-street crowd,
was the manipulation. On these rumors the
crowd fought shy of the pit, especially as
there was no big selling to-day. July fluc-
tuated only CSC and closed Al its strongest,
lsG14c up at 63ssc. Country acceptances are
still small. Receipts were 500 cars, "a of
contract grade.
oats were steady early, but trade was
slow There was little support to the mar
ket and when wheat weakened oats fell of
in. sympathy. There was a little recovery
later. July sold from 40lsc to 39l3c, and
closed easy, 1sc lower at $3.50. Receipts
were los cars.
Provisions were dead. with the exception
of little outside liquidation. Hogs were
port after the first few minutes. This
resulted in a decided slump, but part
of the loss was regained. In general, the
market was featureless. All July products
closed 715c lower, pork at $11.5212, lard at
$40. 221a and rios at 5000.
Estimated receipts on Monday: Wheat,
20 cars; corn, Sl5; oats. 100; hogs, 2,ooO
head; hogs for the week, 10000.
Leading futures follows.