The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1892-02-10
AT CHICAGO.
Wheat Quiet and Weak but Closed at
an Advance Over Saturday.
INDIANAPOLIS. IND.

INDIANAPOLIS, IND.
MONDAY EVENING, Feb. g.
L. W. Louis & Co.'s Chicago Advices today
were as follows:
The speculative markets are becoming
quite interesting. Cables reported wheat
generally lower in most of the foreign
markets. There was some liberal buying
around Gle the early part of the ses-
sion. Later reports of large stocks in Paris
and liberal selling orders by New York specu-
latOrs caused rather a weak feeling and de.
cline to about s01zc. Later cables reported
frmer prices in Berlin owing to the report that
Russia was buying wheat and importing it over
the German frontier. Other reports stated
that 40 per cent. of the French crops would
have to be resown. These conditions changed
the feature of our market from weak to
very strong one. closing about &c bid above
Saturdays close. The weak feeling which pre-
vailed in wheat about the opening extended
into the corn pit but it seems require more
than sentiment to depress prices and 1t very
soon cut loose from wheat and become very
strong. There seems to be some good local
spectators who believe in corn and oats and
continue TO buy heavily on all the weak spots
while we favor the long side OF May corn and
oats, we would advise caution in buying these
hard spots for fear that the advance will start
receipts and indications that 1t will grade
little better. thus causing slight reaction.
Receivers received notice today of quite liberal
ceipts the latter part OF the week Will De some
what larger The provision market seems to
have absorbed all the offerings of last week by
some or the large spectators and still contln-
ues very strong. Speculative prices are keep
ing step promptly with the foreign and do
mestic demand for cash products.
Wheat was lower and weaker today. while
corn and oats were dull.
Receipts for the past twenty-four hours "a
cars, against total OF 23 cars for the preceding
day.
On market-Hay. timothy. s12G13; mixed.
$1O@12; clover, S9@11; millet. 50; shelled
oats, 3S9S5c; sheaf oats, Sl0@l2; corn, 4OCG
Whess-No. red. 901<c bid; No. red. $40
bid; rejected, 7S0SSc; understandable, COG
75c.
Corn-NO. white, 4Oc; No. 2 white, 40c;
white mixed, 39c; No. white, 3919ci No.
2 yellow, 3S5zc; No. yellow. 3Slzc; No.
2 mixed. S61zo; No. mixed, 5S7Zc; sound
ear, SS1zc.
Oats-No. 2 white. 32llc; No. white.
Bike; No. mixed. Sl13c; rejected, 29c.
Bran--Steady; Sl4
bid; No. 2 - bid; No. prairie, S bid; No.
prairie, $3.50; mixed $3.50; clover, mixed $3.50.
Rye-No. ?, soc fOr car lots; 759S0c for
wagon.
Wagon Wheat-eOc bid.
CHICAGO. Feb. s.-Wheat was quiet and
weak during most Of the session but advanced
later and closed with an advance OF &c COM
pared with Saturdays last figures. In the early
trading news was meager and seemed generally
favorable for the bears. Liverpool was quoted
weak and lower and domestic markets were
generally easy. There were but few buying
orders, while the general impression Was that
Bales were less likely to prove profitable. New
York and st. Louis operators had liberal sell
ing orders here at the start and the pressure
kept up FOR considerable time; the local
crowd finally joined the selling side
and very weak feeling ruled.
There some talk at one time of higher
prices at Berlin and also at Paris but it did
not check the weakness much. II was also
TumOred that a cold wave coming but this
had little effect. The increase in the visible
supply in place OF decrease as was looked
for was weakening factor. After the noon
hour the market developed some strength,
chiefly on the higher continental cables
weakened some, then made a sharp advance
right at the close on report from New York
that cables there said 40 per cent. of the
French crop would have to be resown and
that Russian prospects we're growing worse.
May opened ct 91GG9l54c against 81 &c at the
clOse on Saturday, broke gradually TO 90l4o,
advanced 10 9ll4c, weakened to 9OIsc, rallied
to 915Zo and closed firm at that price.
Closing cables reported Berlin q marks higher
on wheat and Antwerp % confines higher;
Paris was % confines higher on near futures.
There was little to affect the price of corn, and
the market was quiet during most of the
siOn. May opened &c lower at 421sc on weaker
cables and rather liberal receipts with i'm
proved grading; but one or two local storing
and shipping houses bought freely and the
price gradually adv Anced TO 421sc At this
point the large incre in the visible supply
was made public. and the price weakened TO
42c. Covering by shorts, investment buying
and the latest strength in wheat
however caused reaction, the price going 20
z3c, and the close Was steady at 425sc. Oats
followed corn in their fluctuations and closed
with an advance OF &C. Hog products con-
tinued 10 exhibit the strength that set in
toward the close OF the week. The advance in
the price of hogs is the leading element upon
which the growing confidence in provisions is
based. 1t is said to be impossible TO produce
them at the current quotations while hogs
command such nigh prices. The close shows
advance OF 15c on pork for May; LARD and
ribs 80. Estimated receipts Tor tomorrow
Wheat 200 cars; corn, go cars; oats, 100 cars;
hogs, 70 coo head.
The leading features ranged as follows:
4rtieles 4 Onaafug Hfghas4 Torest t1I,.i,v