The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-06-23
WHEAT is VERY STRONG
JULY GAINS MORE THAN 4 1-2c and
SEPTEMBER OVER A CENT.
Corn Also Is Practically Higher and
Oats Show a Good Gain-Hog Prod
ucts a Little Lower.

CHICAGO, June PA bullish sentiment
prevailed in the grain pits to-day. and Sep
TENDER wheat closed 1Q1Bc higher, corn UP
ssc and oats nc higher. Provisions were
easier and closed from 2izc to &c lower.
Wheat opened strong on unfavorable re-
ports from the Southwest showing that the
returns from the threshers were rather
disappointing, on heavy rains Gin that part
OF the country, coupled with the contin-
ued lack of precipitation in the Northwest.
where rains are much needed. July was up
Ad%c to %@lkc, at 77QT1sc, while Septem-
Der was A@ssc to hsdSc higher. at 75A@
75hc. Cables were easier, and, with bear
ish foreign news and large worlds ship
ments, the market held about steady the
first half Of the session around the opening
figures. During the latter part or the DAY
the market turned extremely strong, helped
by the big decrease in the visible supply
and by the strength in outside markets,
and there was an active demand from COM
mission houses and pit traders, which re-
suited i'm July selling up TO 7S1kc and Sep
ternber to 76Ac A slight reaction occurred
within the last half hour, but July closed
lis@1%c higher. at 7Slsc, with September
and flour were equal to 322 500 blu. Primary
receipts were 4s9 800 bu. against $4,000 a
year ago. The amount on passage showed a
decrease OF Z,loo-oOo pb- NAiiliicapchS aA.e
Duluth reported receipts of 391 cars, which,
with local receipts of Is cars, one of con-
tract grade, made total or 4l0 cars. against
457 last week and 452 year ago.
Excessive rains in parts of, the corn belt
and the cool weather were the main bull
factors in the corn pit, and caused re-
newed strength in that market. Trading
was active throughout the day, with cover
ing by shorts prominent feature The
higher prices brought out considerable liqul-
dalton and part OF the advance was lost.
but the close was strong. with July Hc
higher, at 50Ac, after selling between soc
and 50ssc September ranged between 49%c
and 5OIhc, closing sc higher. at 50hc. Re-
ceipts were III cars. 50 OF contract grade:
. The feature of the trading In oats was the
consequent advance in the price of that
delivery Unfayorable weather conditions
helped the more distant futures and aided
in the general upturn. Offerings were
rather light with commission houses good
buyers of the far deliveries. After selling
between 355sc and 34c. September closed Ac
higher at 33S4c. July closed with a gain
OF &c at 46%c, after ranging between 40Ac
and 4O7kc Receipts were 2l3 cars.
Liberal receipts of hogs and lower prices
at the yards caused an easier tone in pro-
visions at the opening, and with dull trade
prices failed to recuperate, holding about
steady. Brokers and small packers gave
some support to the market early, but sell
ing influence later September pork closed
2l5c lower. at Sl6.S7iz; lard sc lower, at sS.S5,
and ribs 2Hc lower, at s9.2.
Estimated receipts for Tomorrow: Wheat,
SO cars: corn, $50: oats, $50; hogs. 1900 head.
Leading futures ranged as follows: