The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-06-26
ADVANCE in JULY CORN
THAT OPTION TOUCHES THE HIGH
PRICE FOR THE SEASON.
September. However, Is Easier, and
Wheat. Oats and Provisions Close
at Small Declines.

CHICAGO June 25.-"Tailers' in wheat
were punished to-day. After early strong
prices. support was withdrawn and weak
ness ensued. Just the opposite occurred in
corn; shorts were banded about by the bull
manipulators until they covered. then the
price was allowed to slip back. Under these
mixed conditions July wheat closed sc low
er; July corn sc up. September corn
shade down and oats sc lower. Provisions
were hard pressed and closed 1Oc TO 2Oc
lower.
Wheat showed strength the first hour.
The opening a trihe weak lower
cables and fairly good weather map.
There soon arrived. however, a batch of
bullish reports of bad threshing returns.
little shipments from Oklahoma, Kansas,
Indiana and Illinois because of doubt as
10 grading, and promises of more wet
weather. Elevators bought for a time and
July wheat, which opened unchanged to sc
lower at 742sc to 74Ac advanced TO 7415c.
Yesterday it was known that the short in
terest was pretty we'll eliminated Such a
condition favored a collapse, owing to the
absence of an interest TO support the mar
ket on dips. This break came to-day when
the elevator interests stopped supporting
and liberal selling was INDUCED in. Longs
who had tailed after the big bulls
scurried to secure paper profits or to pre-
vent actual loss. Both July and September
options were sold freely. July dropped to
1850. Some support put under the pit
for time and rally to 74c followed. but
the close was weak, &c lower for July, at
1880. The whole action of the pit to-day in
hak NV nv No
bulls TO buy at lower prices. Local receipts
were 80 cars, . of contract grade; Mime
apolis and Duluth reported 273 cars, total
OF 3O3, against 81 last week and Isl a year
ago. Primary receipts were $4,000 bu, COM
pared with All 900 last year. Seaboard clear
ances in wheat and -four equalled 311,oO0
bu. The seaboard reported seven loads
taken for export.
Corn had good jump at the opening in
duced by higher cables and cold wet
weather on the growing corn. Shorts COW
cred and the country bought literally Sell
Ing that has been going on for some weeks
in September and which has be- n thought
day TO be for the big bull interest. This in
fiuenced a mixed feeling in the pit. July
was pushed up TO the high price of 69c.
which was reached during last weeks ex-
! element. Shorts were punished TO some eX-
| tent and then the market was allowed to
| slip back. July held much of it's advance,
| but the selling on the bulge in September
| became an easier close in that delivery.
! July sold between 6S1sc and CSC and closed
| sc up at 6S12c. September closed a shade
! down at 6OQ6Oisc Receipts were smaller at
/ ia cars.
! 1t suited the packers again to-day to I'M
| load some of their burden on the outsiders.
| Hogs, although touching $7.95, were gener-
! ally weaker. This caused general liquidation
! most of the day. At times brokers bought in
! to steady the decline. General selling OF
| ribs however, produced a weak close. July
pork sold between s1S321h and s1S12h, and
| closed 171zc lower at S1S2212; September pork
sold from $3.50 down to S1S.35 and closed
zoe down at SlS.471a; lard closed 1Oc lower al
slO5712, and ribs 15G1713c down at $lO6OQ
/ 1O.621A.
Estimated receipts for tomorrow: Wheat
! 25 cars; corn, lis cars; oats. lbs cars; hogs
$1,000 head