The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1891-04-01
TRADING AT CHICAGO.
Prioes on Wheat and Corn Lower, with an o

Prices on Wheat and Corn Lower, with an Un-
settled Feeling and Small Demands.
CHICAGO, March Sl.--On the curb yes
terday afternoon there was an advance in
wheat privileges of about 1c, and the OPEN
ing this morning was on about that basis
May opened at from S1.05ss to Sl.O512, and
July, which closed yesterday at 81. 02s4 was
in demand at S1.04 to S1.O4l2. May sold up
to sl.05bs before the offerings became heavy
enough to quiet the enthusiasm of the buy
ers. The tendency from the time the above
prices were paid until near noon was
downward. with q good many minor reac-
tons. May finally struck SlO4l4 for a
moment and July s1.O3l4. There were
rumors of European war. The Euro
pean and English grain markets were very
strong. The burden of the dispatches
from abroad was of depleted stocks
at Liverpool. London. Leeds and
other centers, and higher prices The
public cables quoted flour Is higher IN Lon
don. and cargoes OF California wheat Sd
over previous quotations. Liverpool was
firm and Led higher. and foreigners were re-
ported buying the new crop options in New
York. Supplies In Liverpool were said to
be at q low cub. and the grain trade and
millers OF that community were evidently
beginning to take notice of that fact. FL
nancial troubles, growing out of the enor-
nous advances made by English, French
and German capitalists to the Argentine
Republic, were once more referred to in
the dispatches. and q clearing tendency
was noted In the wheat belt. These latter
items OF news were responsible for q streak
OF selling. which caused the break referred
70. The closing cablegrams 60 the Board of
Trade quoted an advance at Berlin of from
4c TO 1l2c per bushel in wheat futures.
Paris was mp 10 to Is confines on wheat.
and 50 20 40 centimes on flour. London
wheat futures were from Id to lad per
bushel higher. and Liverpool was quoted
l2d higher In all positions. New York, st.
Louis. Duluth and Chicago all reported sales
OF wheat and Hour for export, and these
were the reasons assigned for recovery to
sl.O5ss for May wheat. A later reaction, on
left the price of May at S1.047s0l.O5. and
JAY sl.03s8 bid. Either the short interest
In corn has been eliminated in great part
or the parties who have been putin prices
up have dropped ont. This 10 very APP
parent IN view of the present condition OF
the speculative position of the deal. With
only 30O,0OO bu of contract corn in store
and cash corn coming forward by rail so
slowly tnat consumers are compelled to
pay lc per bu premium. as well as the stor-
age on the elevator corn to supply their
needs. the price shorts might be compelled
to pay has practically no reasonable limit.
That they are not now being severely
squeezed would indicate that the concen-
trated holdings of few days ago have
been distributed. at least temporarily. The
opening was excited and at about 10 adj
vance on the small receipts. cansed by
damp weather and the strength
in wheat. The price was variously from
6Ss4c 10 0914c. which proved to be the pinna-
Gle of the day There was q decline TO
67l2c and a reaction to 6Sltc, at which lat
ter the market closed. being only lac higher
than II stopped at yesterday The trade in
oats was dull at times The longs could do
nothing. unless the shorts took fright, and
this they refused to do. Values were fro
early, but weaker toward the close. The
provision market. influenced by free selling
out of recent purchases which were carry
ing good profit, sold of and closed at con
adorable decline since yesterday. There
was some demand at the opening. which
showed an advance IN the prices paid of
about 15c on pork. but ribs and lard were
offered with great freedom and sold off at
once. Some of the large commission houses
such as Z. G. Logan q Co.. Kenneth. Hop.
kIns. w. q. Mccormick q Co.. Norton
Worthington. Baldwin. Farnum Il Roberts.
Lindblom & Co.. were free sellers. Nav
pork lost from l7'ac TO zoe, ribs zoe and lard