The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1922-06-26
ALL GRAIN PRICES SUFFER
SHARP LOSSES AT CLOSE
Cooler Weather, Rains and
Poor Export Demand
Factors.

CHICAGO, June 26.-AIl grain
prices closed lower on the Chicago
Board of Trade today.
Persisting reports OF cooler weather,
with rains and lack of export demand.
were the dominating bearish factors.
Buying was light, and selling was
OF a fairly general character.
Receipts at the primary markets,
especially in the Southwest, where
the new crop is coming in, were
heavy.
Provisions were irregular.
July wheat opened up &c at $1.13&,
and closed off 2$c. September wheat
opened unchanged at $1.14%, and
closed off 1 &c. December wheat
opened of %c at $1.17%, and closed
off 1hc.
July corr opened off &c at 62hc,
and closed off &c. September corn
opened off nc at S6Ac, and closed
off &c. December corn opened off
kc at 66Kc, and closed off &c.
July oats opened up &c at 37Kc,
and closed off sc. September oats
opened off &c at 39&c. and closed
OF nc. December oats opened off
Hc at 42Kc, and closed of Ac.
By Thomson & McKinnon.)
June 26.-
Wheat-Firmness in Liverpool was
today counteracted by cooler temper
allure over the entire West and show
ers over portions of the spring wheat
belt. especially Northwest Canada.
Scattered liquidation and a small
amount Of hedge selling has been in
the market through the day, while the
demand was rather Indifferent. Por-
tions OF the Southwest, where harvest
ing Is under way, have heavy rains.
Beyond this, the weather is consid-
cred favorable. The amount on pass
age showed a fair increase. the total
being one-third smaller than last year.
About one hundred and fifty thousand
bushels OF old wheat sold from here
to the seaboard at a better relative
basis, but the foreign demand. taken
as a whole. is slow, being hindered by
weakness in foreign exchange. Italy
has suspended import duty for the
balance OF the year. The situation
seems to be one Of slow demand rather
than one OF pressure from holders.
We would not be surprised to see a
further display Of easiness under these
conditions, but we dislike the idea Of
following the decline.
Corn and Oats-At this time Of
year. the corn market is always quick
to reflect weather conditions. The
morning map showed a cessation Of
recent high temperatures, together
with some precipitation. Therefore,
liquidation on the part of previous
buyers was in evidence. Export and
domestic demands are slow. Eleva-
tors were the prime pal buyers for pur-
poses Of delivery on July contract. In
asmuch as this Is a weather market.
there is not likely to be any dominant
demand until weather again becomes
unfavorable. Moderate liquidation
appeared in oats, in sympathy with
the action Of other grains and under
cessation of important demand. Re
ports from the new crop are no more
favorable than recently, but were
ignored today. If dependence can be
placed upon the many private claims
Of an u~nfavorable outlook for a new
crop it would seem that developments
of the future will favor the holder.
Provisions-Lower hogs and the &C.
ton of grains were reflected slightly
in the provision list. However. the
undertone of the market, especially
late in the day, was steady. No real
weakness is expected.