The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-07-26
HIGHEST OF THE GRAINS
JULY. OATS PRICES ABOVE THOSE OF
WHEAT AND CORN.
Record Figures Since the Civil War
Cereals, as a Rule, Close Lower
Provisions Are Irregular.

CHICAGO July 25-Grain traders beheld
the sad spectacle to-day of oats selling
higher than both wheat and corn and yet
the phenomenon caused hardly ripple in
the dull and uninteresting business routine.
July new oats sold at nc when a few shorts
wanted tho stuff. Cash oats were absorbed
by the bull leaders at as high as Tic in
der to keep them from the shorts While
oats were selling in driblets at these fancy
figures, September wheat was around 1s4c,
and the hitherto fancy July corn at some
thing under &c. In general, however. it
may be said the July corners were resting.
Shorts in wheat, corn and oats in that
month seemed penned in by the big in
terests The other markets were doing lit
tie business under influences of fair wealth
err good crop reports and other bearish
news. which, in turn. however, had little
effect because of the fears OF July manip-
ulation. In the end September wheat closed
sale down, corn sc lower, July corn 1lRc
lower, September oats ssd12c lower and
July sc higher Provisions were very ir-
regular and closed 1273c UP to 171sc lower.
Wheat worked lower on the influence Of
lower cables. good weather and a dull
trade. Crop advices continued favorable
and receipts bore out the reports as to
quantity, although grading was very poor,
as of late. The foreign market weakness
together with the excellent country pros
poets, seemed TO undermine the confidence
of holders. The strike of telegraph mes
sengers, which spread to the floor of the
exchange, interfered with business and had
its modicum of bearish influence. July
showed itself very sensitive to any supply
Z Il
nervous. The price hung around nc and
closed nc down at 76Ac. September was
offered rather freely. Opening 1sq14c TO
shade lower at nc to 721sc, that option
dipped TO 71ssc and closed weak, 7sQhc
lower, at 1$4c. Local receipts were 2O5
cars, of contract grade; Minneapolis and
Duluth reported 202 cars, a total of 4O1.
against 424 a week ago and 367 last year.
Primary receipts were 1,036. 900 bu COM
pared with 1.031G00 last year. Seaboard
clearances in wheat and flour equaled 249
OCO blu. Argentine shipments were 10000 blu
for the week, against $4,000 last year.
Corn was even more dull than wheat.
| The wheat weakness. together with good
| crop reports, had depressing influence in
the corn pit and very few offerings by
leading house broke September prices
cent. Trade in July small and prices
| held near &c until just before the close,
when a little offering and no inclination on
| the part Of the shorts TO absorb broke the
! price to a weak close a. 651ec. There
a momentary support in September, but the
| effect hardly noticed. September sold
| from Gle down to 60isc, and closed weak
| and &c lower at 60Ac. There a Keeling
| that July was simply slumbering before it
burst forth into volcano-like eruption.
| Receipts were 247 cars, 81 of contract grade.
Oats ruled lower in the deferred options
| in sympathy with other grains, and on the
| not unfavorable weather July shorts who
did not settle yesterday were frightened
| by the rumor that because they would not
settle at zoe the price was to be pushed
still higher. In consequence of their bids
| for several "fves' July new sold at nc,
| the record price since the civil war. This
was the only feature. Trade otherwise was
! dull Offerings in the new deliveries were
freer and prices dipped. After the early
advance July dipped back and closed only
! 1sc up at 701sc. September sold between
| 346sc and 1880, and closed weak and %s@12c
| down at 34d341.c. Receipts were 140 cars.
| Provisions were irregular, although not
particularly active. Early advances in the
yard hog market and good support by
| brokers caused brisk advance. Lard es-
| pecially shot up, September lard once more
selling at Sill The early high prices, how
| ever, seemed to be a ruse by the packers,
who at once unloaded on the little fellows
depressing prices badly. Lard alone held
| up. Late trade lapsed into dullness. Sep
TENDER pork sold from S17.571z to $40
dipped TO SIPS and closed 17i2c down at
! s17371R. Lard closed 1214c up at $10.921k
and ribs, after selling from $l0.621z to $l040
closed weak and &c lower at 5000
| Estimated receipts for tomorrow: Wheat
100 cars; corn, 265 cars; oats, 100 cars; hogs
| 10 900 head.
f,,+t, ,oad fOll