The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-03-25
SUDDEN CHANGE In WHEAT
After q Bold, Strong Front All Day, the
Price Takes a Tumble at the Close.
Soon as Support Was Withdrawn from the
Leading Cereal Corn Traders Rushed TO I'm
load, and the Price Of Maize Suffered.
TRADING AT CHICAGO.
Provisions Were Weak All Day with the De-
cline Not Material

Provisions Were Weak All Day with the De-
cline Not Material
CHICAGO. March 24.-After On all-day
bold front, wheat and corn. within fifteen
minutes of the close. weakened most in
gloriously. Corn. which had only been
egged on by the example set by the wheat
market, was the weaker of the two when
it's supporters began to show the white
feather. Wheat had gained abcut nc
for July. but dropped it all at the close.
Corn lost Sc of the highest price brought
early in the session. Provisions were weak
during the greater part of the day, but the
decline In the end was not material.
Vance 81 Hubbard bought from 100000 to
100000 bushels as the wheat market was
declining, 25OOOO bushels of which they got
from Partridge In one lump. Late con-
tinental cables all lower, and q
sudden desire to sell developed. There
was more than the usual excitement
on q small break, and very heavy trading
daring It's continuance. The cold, unfavor-
able weather. and some little activity on
the part of the clique brokers. and rumor
that Cudahy's name was to be given mp
on some of the recent large purchases.
were the strong factors in wheat prior
TO the break. The crop damage reports are
numerous particularly from Indiana and Mis-
sonri, the drought in Western Indiana was ap-
parently yet unbroken, and receipts III the North
west were light. These conditions started shorts
to covering freely, and, as there was little Tor
sale, the prices showed good deal OF firmness.
The opening 3sc higher for May, aud lsc
higher for July, and after some slight fiuctua-
tons, prices were further advanced i2c for the
former and Is a loc for the latter future.
Ena I'D fhsax rlaArr ylnrfa
and concluded that storms meant reduced re-
ceipts, and when cables came in showing quite
an advance. and wheat proved slightly higher.
there was fair buying. One prominent house
took considerable quantity, and the profess
sional operators favored this side, especially as
outside news suggested strength. subsequently,
there was desire TO unload, and offerings could
not be absorbed except at concessions In prices.
Holders sent offers to the East, and reported
that local prices on the contract grades are
above n shipping basis, and this worked against
stability. The market closed leo from the bot
tom ana Sc under yesterdays final quotations.
There was fair trade in oats, prices covering a
range of $50, and closing weak at inside prices
with a net loss OF Lea 3sc. The feature was the
advance in June, that has been selling the same
as May, to Ice premium.
The most striking feature OF the provision
trade was a drop of .25c in May lard. while July
and September closed with a net gain of .02lcc
Trade was very light. The party usually de-
pended upon TO support products appeared for
long time to have abandoned them TO their fate.
Estimated receipts for tomorrow are Wheat,
195 cars: corn, lTS cars; oats. LOO cars; hogs,
5000 The leading futures ranged as follows: