The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-10-25
ALL MARKETS HEAVY
AFTER A STRONG OPENING GRAIN
FELL IN A RUT n DECLINED.
While Losses I'm Cereals Ranged Only
from Lie to lie. Provisions We're
Weaker and 35c.

CHICAGO, Oct. 2i.-After a strong OPEN
ing in the wheat and corn markets they
both became very weak and closed with re-
spective losses of &c and sc per bushel. The
oats and provision markets were even
heavier than wheat and corn. Oats lost
1zc per bushel and pork 35c per barrel.
TIL weakness in wheat was largely
caused by heavy Northwestern receipts and
improved reports from the Argentine crop,
and the other markets followed Wheat
was in good demand at the opening at &c
over its value at the closing hour yester-
day. There was but one point in the early
news which was distinctly encouraging to
the bulls, and that was an advance of Sd
per quarter in the value of Argentine
wheat on passage. Yesterdays reported
decline of Cd per quarter in that description
of wheat had been a severe disappointment
TO the bulls, and to-day's improved price
was all the more encouraging, therefore,
from being totally unexpected. The bears
in the market who were short displayed a
good deal of timidity for a few minutes,
and die not cease buying until they OBJ
served that Partridge had his granary open
and was shoveling more wheat from it in
among the buyers than they were likely to
stand very long. After keeping December
AZ lIOiii oCgSC ~ ooEfO III a III " tNO,
it sold down to 5Sc, but had to submit to
a worse break after about half an hour,
when ii dropped quickly to 524d527sc. May,
in the meantime. had declined from $3.50
ing the reported advance of Sd for Argen-
tine wheat. a New York dispatch said that
q cablegram from Liverpool to a prominent
grain shipper there quoted an easier feel
ing at the close on account of improved re-
porths from Argentine The market here
was. weakened by what came from New
NnHr m h. orrhfAn Afn~E H..
wheat closed at 57l3q57ssc and December at
52Ac.
with the estimates of seventy-fve ex-
pected. The market held up to or over
yesterdays closing price until about forty
hve minutes from the close. at which time
Ginning tendency of wheat. The lowest
prices of the day We're current at the close.
May opened at 503sc and closed at 1870
1880. The shipping demand. which caused
the firmness yesterday, was evidently ex-
day. Business was moderately active near
the close, rather dull previously, but nerv-
Gus and easily influenced by the buying or
selling Of moderate quantities..
| Trading in. oats was still dull. and prices
suffered another decline. Outside orders
were limited, and what little business was
tinued weakness was partly Influenced by
a like feeling in corn, although a very
heavy cash cash market . was asp principally rm i a9flo
sold off TO 32hc and closed at that price.
A run of g. 900 hogs to-day and $4,000 es-
/! timated for tomorrow were too much for
the provision market. Long and short
| clear bacon was quoted Is lower in Liver
pool, and the domestic demand for spot
goods was reported to be very limited.
For those reasons, aided by the hostility to
the bull side evinced by packers, the market
ruled very heavy and prices had a severe
break. Pork closed with a loss of Csc and
lard and ribs each .171ac.
Freights dull; little grain offered; rate to
Buffalo, &c.
Estimate receipts for Thursday: Wheat,
los cars; corn, 10 cars; oats, 40 cars; hogs,
| So, 600 head.