The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1892-03-02
AT CHICAGO.
Wheat Dull and Inclined to Weakness
and Scores the Loss of a Cent.
INDIANAPOLIS. INp.,


JW. Louis & Co.'s Chicago advices today
were as follows:
Cables this morning were somewhat conflict
ing. London was reported easier and Liver
pool I'D higher Private and public cables
throughout the day generally confirmed the
Liverpool report, some even quoting IL ID
higher, Berlin and Paris depressed ana lower
About one-half Of the decline noted Satur-
day vas recovered the early part of the session,
owing principally TO higher Liverpool, good
buying for export and the decrease in the vlsl-
bic, which was expected 10 show large in
crease. The probability OF a cold wave may
also have had something 10 do with strength
ening prices. Later. however, the large re-
ceipts in the northwest, lack Of lnteresttrom ex-
porters and the remarkable invariabie weather
Tor the growing winter wheat all had their
effect and was the cause of a decline, closing
even lower than Saturday. few New York
spectators were liberal buyers early, but later
became free sellers causing sharp decline,
which viewed from a scalpers standpoint
would be called q weak feature IN the trade.
We feel that the breaking up or the winter so
early must cause very much llghter farmers
deliveries in the near future and the nearer we
get to the opening of navigation the lower the
freights the larger should be the exports.
Until these probable conditions become facts
we see no encouragement for holders. Corn
and oats were firm the early part OF the session,
but later declined in sympathy with wheat,
there being fairly liberal selling OF speculative
holdings.
Fairly good demand fer hogs, product much
better than the latter part Of last week. The
reaction in mess pork was caused principally
by some OF the short sellers buying to secure
profits.
Wheat was easier today, while corn and
oats were quiet and steady.
Receipts for the past twentyfour hours Is
cars, against total Of q cars for the preceding
day.
Wheat-Msrke. easier; No. red. $3.50 bid;
No. 3 red. S9lEc; rejected, 7SSS5c; un-
merchantable, 65075c.
Corn-Quiet No. 1 white, 411zc bid; No. 2
white, Ale bid; white mixed. $3.50 bid; No.
white, 391zG4012c, latter for one color; No.
yellow. 39c; No. yellow. 3S12e; No. mixed,
39c bid; No. mixed, SS19c; sound ear, $50
| bid.
Oats-Quiet; No. 2 white. s2c; No.
white, Sic; No. mixed. Sic bid; rejected, 2S
@29c.
Bran-Firm; s145O@15.OO.
Hay-Choice timothy, $12; No. 1 $1150;
No. .. 50 bid; No. prairie. $50; No. prairie,
$3.50 bid; mixed, $50; clover mixed, $3.50.
Rye-Rye. No. 2, S5c bid for car lots, 100
| soc for wagon.
Wagon wheat-91c bid.
On market-Hay. timothy. sl2614; mixed.
| $10@l2; clover, $9G11; millet, 50; shelled
oats, 3S(G35c; sheaf oats, Sl09l2; corn, $40
Ale; potatoes, 55@40c.
CHICAGO. Feb. 29.-Wheat dull on the
opening but advanced $50 above the clos
| ing figures of Saturday. But the market
was inclined TO weakness for a time. The
higher opening was attributed chiefly to
| the cold wave in the northwest. The tenn
perature was reported at zero in South Da-
| kota though the wave seemed to be narrow as
| it thirty degrees above in North Dakota.
| Light snow was reported in northern part of
| the winter wheat belt with snow threatened
| elsewhere. The receipts in the northwest were
unusually heavy, the early cables were
not encouraging, and London and
| Liverpool were quoted dull and unchanged
| and as the seaboaTd markets were also slow.
and large increase In the visible was generally
| looked for, there was free selling for a time
| with a saCging market which carried prices
! down to saturdays last figure. But the de-
| cline left a good profit Tor some OF the recent
short sellers. and there was pretty general
/ impulse to cover under which there some
/ restoration OF confidence and prices gradually
| went up cent from the low point. Good buy
| ing orders for New York account assisted in
| the advance, but perhaps the strongest factor
\ was the unexpected result in the visible sup
| ply statement. which, instead Of an increase
scored a decrease. The latter private cables
/ were also more assuring, and domestic mar
kets also turned stronger. Milmine-B odman,
| Baldwin Partridge were the leading sellers
| most of the day, although it was re-
! ported that William Dunn and some OF the
other foreign houses sold freely at the advance.
| After the noon hour the market became very
| weak free sales by New York, and on the
/ down turn local holders also got discouraged
and sold freely. May went Off with some ex-
| element and sold down, with some reactions,
| 15sc from the highest point. May opened at
/ e05sc, against 901<c at the close on Saturday,
touched 9054c sold Oh to 900 c. rallied to &C.
| broke to $3.50 and closed weak at $3.50. Late
| ables and do mestic market reports we're nearly
| ali weak. Corn was inclined to be strong
| the poor grading of the receipts and the wet
| weather, which tends to continue that state of
affairs. There was a good demand from shorts
| TO cover, but the offerings only
moderate. The firmer tone in wheat
| in the middle of the session also helped
| corn, but later when wheat broke corn was
alphabetically Affected. May opened sc up
| at 421sc, touched &c, advanced to 4212c, weak
ened and closed at AZ &C. Oats quiet but
/ rather firm; there was less selling pressure and
| good demand to cover shorts, but the market
weakened with other grains near the close and
/ closed sc under Saturdays last figures. Hog
products were stronger with fair local demand /;
receipts OF hogs were about as expected, but
/ prices at the yards were with shippers active
! buyers. Prices of the producer were Affected
some sympathetcally by the fluctuations in
| grains but the close showed advances particu-
! larry IN pork which is up 121%c. Estimated re-
/ ceipts for tomorrow: Wheat, 100 cars; corn,
$40 cars; oats, 225 cars; hogs. %. 600 head.
The leading futures ranged as follows:
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