The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-06-16
LIGHT TRADE in GRAINS
MARKETS VERY DULL AT GESER-
ALLY DECLINING PRICES.
Corn the Only Exception, Holding
Firm and Closing Higher-Provi-
sions Also Weak and Lower.

CHICAGO. June i4-Apathy pervaded the
pits OF the Board OF Trade to-day. Traders
paid little attention 20 anything but wheat.
and not much TO that Inasmuch wet
weather has'ruled the pit for the last week,
when prospects Of clearing skies were re-
ported wheat lost it's strength. Oats SYM
pathized somewhat, but corn was under
manipulation and held firm. At the close
July wheat was %67sc lower, corn lsQAc up
and oats isc down. Provisions closed nc
down for everything on 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 il and more rains were falling.
Commission houses took a little stuff on
the score that not since the Letter deal have
there been such clean indications that
stocks of old wheat are practically ex-
hausted. A belief then seemed to take hold
of the crowd that fine weather was a 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
progressed a gradual decline ensued, and
July. which had opened unchanged to sc
lower. at 72ssc to 721zc, slumped to a weak
close and 24G5sc lower. at 71Aqn7sc. Local
receipts were twenty-five cars. FIVE of con-
tract grade; Minneapolis and Duluth re-
ported 2l7 cars, a total OF 239 against 251
last week and 492 a year ago. Primary re-
ceipts were $4,000 bushels compared with
qQf
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 bullish factors and the pit was
left much 10 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 it that ]. 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 fiuc-
tuated only @sc and closed at its strongest,
1sUHc up at 6S@sc. Country acceptances are
still small. Receipts were 5O7 cars, "a of
contract grade.
oats were steady early. but trade was
slow. There was little support 20 the mar
ket and when wheat weakened oats fell or
I'm sympathy. There was a little recovery
later. July sold from 4Olsc 10 3yl9c, and
closed easy, 1sc lower at $3.50. Receipts
were 165 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 TIC lower pork at S1752lk. lard at
$40 22iA and ribs at 5000.
Estimated receipts Monday: Wheat.
20 cars; corn, 375; oats. $780, hogs, 42,OOO
head: hogs for the week 10000.
Leading futures ranged as follows: