The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1886-03-03
CHICAGO MARKETS.
Wheat Excited, Corn Rules Dull, While Pro.
visions have Been Very Weak.
Special to the Sentinel.

Special to the Sentinel.
CHICAGO Feb. 27.-Renewed activity and ex-
element have characterized wheat on Change
this week. Business has been large and the
"bulls' have held their own pretty well. Higher
cables and reports OF heavy export buying have
been the features. How much of this export bus
iness has been bona fide and how much has been
worked by the big dealers who are 'long" and
anxious to influence prices is a question which
has excited much discussion. Cable advices, both
public and private, sustain the presumption that
the foreign trade has seen its worst and If all the
grain taken is really for export then something
like COO 900 bushels OF wheat will leave the sea-
board for Europe within the next ten days. So
long however, as there are no large lots actually
cleared the trade will continue to regard the pur
chases with suspicion, and many will credit
Armour or Norm Ream with manipulating the
deal Still the knowledge that wheat in European
BINS Is pretty low ana Tears that foreign de maho
clears nervous and induced many OF the largest
'shorts to cover. To help themselves out Jones
and his crowd have freely circulated reports that
orders have been given to resell the grain taken,
but yet there seems 70 be no authority tor this
story.
damage news from Southern Illinois and Kansas,
but its effect upon the market so far has not been
felt. This. however, only shows that the trade
that subject can be had early. 1t may still be
tact but at present have no influence,
The shrinkage in the visible supply is not as
rapid the bulls had anticipated. Ii is dacreas-
ing at rate which would be considered very sat
isfactory il t were notsO large to begin with aud
the magnitude OF the movement is belittled by
remarks to the effect that more than year will
be required to get rid of the whole at the present
rate OF reduction. 1t should be borne in in mind,
however, that the entire exhaustion OF stocks in
sight would be even a more awkward fact than
the unusually large supply OF this winter, and
that the chances ef accumulation in sight IN
crease each year with the facilities for getting the
grain out OF first hands. For this reason Baker,
Lester Walker and other large holders are willing
ent but their confidence is firm in decided i'm
|. provement later on especially as il is stated on
good authority that Armour is working on the
long side now.
George Chandler says tonight: 1--WE have secured
an upturn; based principally on decreasing stocks
and an increased outward movement The bulls
have been buying tor a year past in the belief
that when these two things occurred we should
have boom. Now that the time has come we
find majority of these same men selling short
which / regard as the strongest feature OF the
situation"
Corn rules dull The February squeeze in New
York is over, and nobody seems to have been very
badly hurt. Receipts continue on the increase
and the grading is better, which il is thought has
discouraged the Dows party from continuing the
Provisions have been very weak, owing to the
dropping of some 1900 barrels Of pork which
Howe has been carrying for unknown principals.
This has frozen out most Of the small holders and
the property is now concentrated in strong hands,