The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-04-03
THE LOWEST FIGURES YET
The Mild Scare in Wheat Sprung Fri
day Disappeared Without a Kick.
Suspicious Story About Farmers Being All
Sold Out Of Last Years Crop Indicating
Disposition to Boost Prices.
TRADING AT CHICAGO.
The Leading Cereal Touched 1880, Cloi
n Paint HfUher

1ne Leading Cereal Touched 5SSSc, closing
q Point Higher.
CHICAGO. April 2.-If the Board of
Trade operators were always as faint
hearted as they seemed to-day. few Of them
would ever make a successful deal. b
trade in every pit faltered. almost from the
start to finish. and to-night's figures, CON-
pared with those of last evening. make
wheat off lac; corn, %c. and pork. l5c. The
strength which characterized the wheat
market yesterday ncarly all evaporated
during the night. and hardly q flavor was
left. The sharp advance of yesterday was
not easily explained by anything that had
developed in the situation. and the
trade seemed to feel that 1t was
q good place to sell on. Some
of the tables this morning showed there
was no response to the advance here. but
on the contrary the feeling was weak.
The failure of the expected cold wave to
materialize was also a disappointment. and
all crop advlces were quite bearish, show
Ing q good outlook for the crop. Brad
streets report of the weeks exports also
had q weakening effect as it showed only
2.597. 600 bushels of wheat and flour cleared
from both coasts during the week; 2.Sl4,0O O
bushels for the week previous and 2. 164. 900
bushels for the corresponding week last
year.. The result of the aggregation of
bearish factors was to give the market a
weak start and finally send it Oft over q cent
started free selling by those who bad
bought on the upturn yesterday and de-
veloped a good deal of short selling. There
was not much demand. as the great bulk Of
h. Al L.. 4---
and the buying was largely confined to
those who had sold on the bulge the day
before and covered on to.day's break. Ont
side markets were slow and weak, with
considerable declines reported. Partridge
was a good seller. early, through Cutler
and others. but on the subsequent break he
covered a large lot, including most of that
sold on the bulge yesterday. May opened
at 79Ac, fell gradually to .7Sl3c.
T Tas 7s To- 79e' R end at IL o 0,cIock
the market had rallied to 79lsc for May.
This was on the better closing cables Civ
ing Berlin mark up; Paris. 10 to 50 cent
lines up On wheat and flower. Talk of q
visible supply for Monday alsO helped the
late bulge. There WAS a sale of 80. 0GO bnsn:
els No. 2 red wheat at 8 cents over May and
rumors of o round lot of 100000 to 3O0. 900
bushels No. 2 spring at 11ac premium: But
holders were cautious and sold out before
tho close. putting the May to the lower
point of the day at 1885 07Sl9c. Attention
10 being directed to the very small receipts
now coming to hand mt the winter wheat
markets Bad roads dis,atisfact'oa
farmers of making sure of another crop
before selling all their previous years
stock, have been advanced as reasons,
which sufficiently account for the present
small deliveries. But it is argued there
may be another and q more important rea-
son which lies behind those more obvious
infuences-the farmers may not have the
wheat. The combined receipts of Toledo.
st. Louis and Detroit, yesterday. were I'M
der $4,000 bushels. compared with $500
bushels on the corresponding day of last
year. and the total aggregate receipts this
week at the three points named amounted
to 2l2,1l7 bushels. compared with 3d.
6S7 bushels for the similar period
n year ago. A letter received here to-day,
said to be from high authority. remarks
that the wheat In farmers hands in the
State of Illinois is not to exceed III per
cent. of their last years crop. Stocks at
of the week of l .100, 900 bushels, and at Chi
cago stocks are expected to have increased
10000 bushels. The visible supply, &C.
cOrding to current estimates. should show
a decrease of about 25O.OOO bushels. Pard-
ridge was q large buyer of wheat to-day,
covering his big sales on yesterdays bulge.
In corn the receipts were less than ex-
pected, and did not include q single car of
contract. but the weakness In wheat had
q depressing effect, and 1t was also rumored
that the clique was selling a good deal of
corn through Schwartz-Dupe Baldwin
Farnum and other houses. and there was
3 drop of nearly 10. May opened 1sc
lower. at 40lso. and went Oft steadily to
394 C. reacted some. and at II o'clock was
39asc. 1t reached 3924c during the closing
hour, but quit with sellers at 39lac.
A light scalping trade was carried on in
oats. The weather and the condition of
the other markets were the only influences
of consequence.
There was disappointment in the pro-
vision trade because the stOcksdld not show
as much decrease as many had been look
ing for. That and the depression on grain
circles were the reasons assigned for the
heavinesa The best prices of the day were
made at the start. and very little recovery
from the lowest prices prevailed at the
| close. The leading futures ranged as fol-
| lows:
Options. IOp'ningI Highest Locest Closing