The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1892-05-04
A SLUMP IN WHEAT.
Wholesale Unloading by Buyer-Leo-
pold Bloom Responsible.
INDIANAPOLIS, IND.


MONDAY EVENING. May ..
L. w Louis & Co.'s Chicago advices today
were as follows:
The week starts In with unfavorable weather
in the northwest for spring seeding. Gables
reported foreign markets nominally IN
changed. Clearances were large, amounting
to about $4,000 bu whea; and flour Visible
supply decreased 100000 bu. Northwestern
elevator stocks decreased about 100000 bu with
less than 100000 bu now in stocks. Under or
binary conditions the general news would have
tendency 10 strengthen prices The result
however. was a decline OF about lAc per hU,
the marke: closing at the lowest point OF the
day, due principally 10 the persistent selling
bv the bears and the lack OF confidence In iu-
ture prices by the bulls.
Very little change was noticed in cash or
May corn. July was stronger. but like the
rest OF the markets, was dull and within mar
row range.
Oats were a shade lower; range of trading
was within &c per bu all day.
Receipts OF hogs were large. Mess pork un-
changed. Lard a shade lower. Ribs in good
demand and about &c higher. No important
features.
Wheat was firmer today, while corn was dull.
Oats were lower and weaker.
Receipts for the past twenty-four hours. 81
cars against "a cars for the preceding day.
Wheat-Firmer; No. red. $3.50 bid; No. }
red, Sic bid.
Corn-Dull; No. white, 41o; No. 2 white,
4lc bid; white mixed. soc; No. white. 500
4lc. latter for one color; No. yellow, soc;
No. yellow, 3S1zc; No. mixed 800 bid;
No. mixed 3S15c; sound ear Csc
Oats-Easier No. white, She; No.
261IG927c.
Brsn-Quiet; S12.
Hay-rimothy, choice. SIP; No. l. SLIGO;
NO; = $780, No. prairie. $50; No. ?
$3.50; mixed, $3.50; clover mixed, $500.
Reno. 2 zoe for car lots; 65c for wagon.
Wagon Wheat-S6c bid.
On Market-Hay, timothy, tl20091400;
mixed. Sl0009120O; clover, Sg.009g11.00; mil
let, $500; sheled OATS 3o6g35e; sheaf oats.
SlO.OO9 1900; corn, 40Cg45c.
CHICAGO May with remarkably light
deliveries of wheat there n loss OF lCIi14c
IN prices today. Compared with Saturdays
close corn tonight is up go. oats are of &c
pork and ribs show an advance of 21ze and lard
DC decline Wholesale. unloading by Leopold
Bloom, who was buyer Saturday, was chiefly
responsible for the slump in whent. The mar
ket left oil at about the lowest prices touched.
The opening had been rather strong and prices
were about &c higher Tor May and 14@3sc
higher for July than the closing figures OF sat
urday. but the tone Immediately weakened and
pIices declined 1HWl3so, July suffering the
largest reduction, held steady and the close
than Saturdays closing. The early strength
was attributed to the reported severe rain
storms which il was thought would tend
To delay farm work. but the offerings increased
till all else was lost sight Of The deliveries Il
wheat were small As hal been anticinated
amounting to about 10000 bushels. For Il
time there was some uncertainty about the
visible supply but the figures finally posted
showed a decrease in wheat OF 1,2I3OOO
bushels. decrease in corn Of ,3o5, 900 bushels,
and an increase in oats Of $4,000 bushel. This
gave little hrmer tone 10 the market for
moment. A cold wave was also reported in the
extreme Northwest. Partridge was q good
seller on the strong opening. but covered
vOraciously on the break. Some dispatches
from the Dakotas said that much OF the seed
ing had already been accomplished, the ground
in fine condition and that with warmer
or seasOnable weather development would
be unusually rapid. Cudahy WAS credited
with unloading some wheat the decline.
The amount closed out for Bloom was said TO
be fully 100000 bushels. Light rains
reported over the West and heavy in this
vicinity, which, together with the state reports
making the corn season late in most sections,
had the elect of hardening values. especially
July, which was in good request and relatively
frmer than May. a good deal of changing
took place in selling the May and buying the
July at 114d13sc premium for the former.
Deliveries on May contracts were moderate as
expected, probably 100000 bushels going
AROUND. Inc visible decrease OF l,0SO,UOO
bushels was hardly as much as generally an-
ticipated. The market opened 4M3sc better
than the closing prices of Saturday and sold
mp to &c, reacted &C. rallied sc, recsded "A
O5sc, changed some and closed at ex-
actly the opening price. The liberel
estimated receipts for tomorrow, with
the weakness in wheat, were the bearish
factors on the wind up. Oats advanced 10
early but later weakened aud prices receded
80 and the market closed easy at about the in
side. The unfavorable crop prospects were
the strengthening factors. but the decline in
wheat and increase of $4,000 bushels in the
visible supply caused weakness and lower
prices. The deliveries Of provisions were
about 10000 bushels of pork, 10 600 tierces of
lard aud 100000 pounds OF ribs. T. J. Ryan
d Co. took in the pork and Armour & Co. the
ribs; the lard was scattered. There was little
trading beyond changing over from May TO
July. Ribs were firm on some buying by pack
ers. Freights were slow, but lake rates re-
manned steady at PIC for wheat and &c for corn
TO Buffalo Estimated receipts for tomorrow:
Wheat, 40 cars; corn, CPS cars; oats. go cars;
hogs, p, 900 head.
The leading Futures ranged as follows:
Articles. openins1 Highest Lowest. Closing.