The Indianapolis journal., 1894-09-28
CORN LED THE DROP
SLUMP OF 3-sC FOLLOWED BY BOTH
WHEAT AND OATS.
Heavy Receipts of Grain in the North
west Assisted the bears in
Their Repeated Raids. q

CHICAGO. Sept. 27.-Corn started firm to-
day, but under heavy selling weakened.
closing CSC lower for May. Wheat and oats
went down with corn after early advances
wheat finishing unchanged for December
and May oats 1sc lower. Provisions closed
with moderate gains.
Another slight decline in the pl.ce of
wheat inaugurated the days business. De-
cember sold at 5SAc shortly after the OPEN
ing and held between that and 5S3sc for
an hour. The Northwestern receipts which
for some days have been the most promi-
nent bearish feature in the situation, once
more contributed by their bulk to the en-
couragement of short selling. Minneapolis
reported the receipts of 631 carloads and
Duluth 292, making together 923 cars, COM
pared with 955 on the corresponding day of
the previous year. Foreign markets were
generally called weak and dull at slightly
lower quotations. Kansas City and st.
Louis reported a little export business in
wheat. Trading during the forenoon was
very light, both on outside and local ac-
count. The primary Western markets re-
ceived an aggregate somewhat exceeding
100000 bushels. but of that quantity all
but 100000 bushels appeared at Chicago,
Minneapolis and Duluth. St. Louis, Toledo,
Kansas City. Detroit and Peoria received
together only 100,245 bushels. The feeling
became firmer when the small winter-wheat
market receipts were observed and when
later cab,egrams came in reporting a Slight
ly firmer tone to the Liverpool market.
December rose to 5S5sQ53S4c and touched
Lice higher than that for an instant before
the buying, which started in consequence
Of the small winter wheat receipts and
exhausted itself. The Atlantic ports clear
ances for twenty-four hours were disap-
pointingly light. The market, after acting
strong up to within twenty minutes of the
close, began to give way at that point in
sympathy with closing weakness in corn,
although New York advised a fair inquiry
loads: after selling as high as 534 d537sc.
the price of December got down to 5312c,
where it closed.
Corn was weak at the opening at A02sc
below. the closing price of yesterday. May
sold from 5014c down to soc, and shen set
tied for an hour or so at from 50lsg504c.
When wheat began to show a b1der front
reacted to 50ac. Tennessee was offering
corn to arrive in St. Louis, a thing never
heard of before, it was said. The drought
district in Nebraska was reported to be
asking Omaha for bids for old corn, and
the railroad yards here. were reported to
be crammed full of loaded cars, for which
there was no storage room. Under this
and other bearish influences, combined with
liberal selling, the market became very
weak near the close and dropped all the
Gain it had made on the reaction from
opening prices. 1t got down to 1850 for
May, and closed at 491s050c.
Trading in oats was of good volume. al
though divided up principally in small
packages. Higher prices were scored, led
by the advance in wheat and corn. Car
rington-Hannah bought quite freely of May.
The remainder of the trading was scat
tered among local dealers and scslpers.
May started from 3312 to 33Ac and gradu-
ally advanced to 34c 1t weakened with
corn later. and closed at 3315c.
The provision market was frmer, and
not much could be bought without an i'm
ducement in the shape of higher prices
to the sellers. Shorts took some when they
found that country holders had some for
buying orders and none TO SELL The open
ing was weak, in sympathy with the weak
ness in the grain markets at the same time.
but the demand at the decline re-
suited in an advarce, during which prices
recovered all the early loss and added re-
spectacle amounts to the closing prices
of the previous day. AT the close pork
lard and ribs were each 10c higher
Freights. 1lSc for wheat an. 1$sc for corn
to Buffalo. Estimates for Friday: Wheat
80 cars; corn, $50 cars: oats. 175 cars; hogs
1900.