The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1891-05-27
A RED HOT STRUGGLE.
Bulls and Bears Fight
Hand to Hand,
But the Latter Finally Car
ry the Day.
Bears Carry the Heaviest AM
nunitiOn.
The Decrease Only Half as
Large as Expected
Market Closes Firm at Fairly Good
Prices.
Market Closes Firm at Fairly Good
Prices.
INDIANAPOLIS, IND,

MONDAY EVENING. May 25.
!. F. Berry & Co.'S advices on the Chi
caVo grain and provision market comment
as follows:
THE wheat market opened about cent
higher this morning than Saturday close.
Eastern parties were good buyers and the
market was strong for two hours in the
forepart of the session. When the visi-
bic supply was posted, it being one half
million less decrease than was generally ex-
pected there was a rush to sell by parties
who had bought for a scalp and an effort
was made on the part of several large
shorts to break the market; this succeeded
in causing sharp break, but there was very
little wheat for sale at the decline and I'M
der the influence of fairly good buying
orders, good demand for cash wheat, and
the attempt by some Of the local shorts
to cover. the market gradually became
strong and advanced 1!c from the low
point, closing strong at about the high
est point of the day.
so long as the clearances are SO large,
being over 100000 bushels of wheat and
wheat flour to-day, and the difficulty in OBJ
tanning cash wheat at 3l64c over July ex-
lists, we think there can be little danger of
loss in buying July wheat at about dollar.
''The decline in corn seems to have cul-
minated Saturday when the market
touched 5llc for July delivery. The re-
ceipts today were nearly 200 cars less than
was estimated and the estimates for to-
morrow are not so heavy as was expected
and some of the large shorts who expect
ed TO buy today in the neighborhood of
SOC were obliged to pay from soto higher
The demand for cash and sample lots was
good, taking ali offerings for immediate
shipment.
Receipts of oats were very large, but
the demand also was fully equal to the
supply and there was a strong market
from the opening to the close. We think
il rather hazardous 10 sell August and
September oats at present prices in an
ticipatiOn of the immense crop. We have
known very fine prospects in previous
years which did not fill short sales at a
profit
"The feeling in the hog product was
was very much better. At one time
the market was quite weak in con-
sequence of holders selling large lines Of
mess pork, but it recovered on a good for
eign and domestic demand for meats, and
the situation seems much stronger tonight
than at the close OF last week"
The wheat market was fairly steady to-
day with light demand. Corn contin-
ued weak and was not wanted, while oats
were very quiet with light demand.
Receipts for the past twenty-four hours.
SO cars against a total of II cars for Sat
urday
Wheat-Firmer; No. red, Sl.03 bid !;
No. 8 red, 9Sc bid; rejected, $4,000; IN
merchsntable, 65(q 75c.
COrn-Weak: No. ! white, 5Sc; No. >
white, 5Sc bid; white mixed soc; No. 8
white, SIC bid; No. yellow, SOC; No. 8
yellow, she; No. mixed, soc; No. 5
mixed, 54lc; sound ear. 544c.
Oats-Weak; No. white, 4Sc bid; No.
3 white, 46c; No. , mixed, 4Sc bid; re-
jected, 45c.
B.an-Steady receipts light; local deal
ers are bidding S1425
Hay-Timothy (chOice), S14.O0; No.
/, $3.50 bid; No. ., SIPS bid No. prai-
Iie, $50; No. ? prairie, $3.50; mixed
hay, 500.