The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-07-25
JULY OATS UP TO zoe
NEW RECORD PRICE FOR THE OP-
TION IN THE CHICAGO PIT.
September LOafs Along at "a lie
cIines-Good Gains I'm Provisions.

CHICAGO, July 24.-There were fancy
prices again in July oats and July corn to
relieve the monotony of a grain session
otherwise dull. The former jumped Sc to
new record price-7Oc The latter sold
at zoe, but did not hold its strength. The
general situation in grains was very
satisfactory to the trade at large, owing
TO the congestion in all July options.
Fluctuations were narrow in deferred
futures, and aside from the fair weather.
the bearish influence that predominated
was that OF ''unstraddling' September and
December wheat spreads. September wheat
closed l2Qssc down, corn 5sQAc lower and
oats sc lower. July oats gained Sc. Pro-
visions closed zoe TO 22lkc higher.
The cause of the upturn in oats was the
bidding of shorts for several items" and
the reluctance Of traders to sell what they
did not have. Receipts were light at 129
cars. Fair weather and good crop reports
influenced an early easy feeling, but the
jump to zoe for July aided prices of de-
ferred futures for a time. Traders were
very much dissatisfied with the situation
of the pit. On all hands went up the wall
OF too much manipulation. Trade has
fallen off greatly in the last few weeks
Spectators are either fearful of the big
fellows or apathetic in oats. business
was very light. Traders pointed to other
pits. especially to corn. and remarked that
the small crowd of traders indicated the
feeling since the corner by the Gates
crowd. They said the spectacle of oats
and corn prices on a level killed trade The
public was out of the market The men
who seemed to control July new stuff let
the crowd have little at zoe. but the price
closed strong, SC up at that figure. Sep
TENDER worried uneasily between 34Ikc and
34&4c. and closed easy &c down at 941bc
Continued good weather, heavy receipts
and scattered liquidation depressed wheat.
Trade was only in fair proportions and in
this pit, in others, complaints were
made of manipulation. There still con-
tinued very light run of contract stuff
in the arrivals, which tended to restrict
short selling. The crowd bought freely
for time of September. but large inter
ests unstraddled from September-Decem-
Der spread, selling September freely to all
who wanted it, Gables were Indifferent,
and in the lack of any sharp business
prices, worked downward. September
opened 14c to 3sG19c lower at 7212c to
| 72AQ722sc, dipped to re, after touching
| 725sG7224c. and closed weak, 1zG5sc lower.
at 721s472Ac. Local receipts were 125 cars,
only one of contract grade; Minneapolis
and Duluth reported 191 cars, a total of
| 3l6, against 81 last week and 54S a year
| ago. Primary receipts were 100000 bu
| against 10000 last year. Seaboard clear
The seaboard reported 10 loads taken for
| export.
Corn was dull and inanimate most of the
! day. The fact that July was bid up to zoe
| by few shorts had almost effect on
other futures. There was no disposition
| TO sell, yet buying was not good. The pit
| seems almost deserted since the bottom
| dropped out of July The action to-day
| in July seemed to indicate that the Gates
| deal was not dead. Gables were higher
: and receipts were small at 157 cars, but
| the closing prices showed a slight decline
! I'm most options. July was unchanged al
| &c at the close; September sold between
! 617sc and slice and closed easy, 1sQ14C
| down, al 6lkc.
Provisions had good support, were some
what active and made very good advances
! Hogs were scarce and brought higher
prices at the yards. Shorts covered t
some extent. but the principal cause o.
the advance lay in the purchases by pack
| ers to hold up the pit. Liquidation by
| longs had little effect on the advance Sep
| TENDER pork closed zoe up. at s17.55; larC
2217c higher, at $10.S0, and ribs 2212c up, a
! $10.55.
Estimated receipts for tomorrow: Wheat
235 cars; corn, 1876; oats, 40; hogs, 1900
| head.