The Indianapolis journal., 1894-03-17
WHEAT RULING DULL
Near the Close Came a Spurt of
Buying Causing an Advance.
Other Grains Closed Lower than Thurs
day, While Pork Was Also Ham,
mered Down in the Last Hour.

CHICAGO, March 16.-After a dull and
easy session wheat spurted at the close and
finished Ac higher than yesterday. 1t was
wired from New York that milers there had
bought 100000 bu Of No. red winter and
had taken 10000 bu of No. 1 Northern at
655sc c. 1. f. Buffalo; that exporters had
taken eighteen boatloads besdes, and sales
of No spring for immediate loading was
reported here. This sent the price up Sac
after May had touched 5Sc. and the close
was but lsc from the top. Fine weather and
discouraglng cables had previously kept the
price down. May corn closed Ac lower
May oats Ac lower and provisions lower all
around.
Wheat was very dull There was nothing
to enliven 1t. Previous conditions were un-
changed at the opening, and up to within an
hour of the close there was no fresh news
of sufficient weight TO turn the scale OF
general opinion. The Liverpool market was
dull at unchanged prices, the weather still
favorable here and the receipts and ship
ments did not vary sufficiently from the
recent daily average to disturb either shorts
or longs. Chicago receipts were 81 cars, as
compared with 195 year ago. Minneapolis
and Duluth reported q total of 209 cars
compared with ga on the corresponding day
of last year. A good inquiry for cash wheat
at New York both from shippers and millers
reported there, and Minneapolis and
Duluth opinion, as expressed over the wires,
continued to be of the same bullish tenor as
ever. The exports from the four Atlantic
ports amounted in wheat and flour together
10 $4,000 bu, and when reported gave little
needed support to prices New York esti-
mated a decrease in the visible for the week
or 1,T5OOOO bu, and those who are in the
estimating 81 similar
guess. The opening for May was 5Sc, and 1t
ruled between that and 5S$4c up to within
the days transactions were at 5S1sc and
5SAc. A report received from New York
just before the close advised the purchase
at Duluth by New York millers of 10000 bu
of No l Northern wheat c. f. Buffalo, and
10000 bu were bought here for immediate
loading. The latter was all No. spring.
bid.
Corn was weak after a short spell of
steadiness near the opening. The receipts
for the day were 264 cars, against 2o5 est-
mated but estimates for tomorrow amount
ing to go cars was a weakening influence
and was instrumental in bringing about
sa9sc. and It had declined to a71sc by about
toward the close In sympathy with wheat,
and May worth 1850 at the close.
But very light business was transacted
influenced by the fine weather, which has
increased the receipts and also by the de-
cline in corn Very little stuff was offered
and buyers were few. Trading was en-
tirely local and mostly by scalpers. To-
DAVIS arrivals amounted to fourteen cars
more than were expected yesterday May
opened hqhc under yesterdays price, at
SO%@31c and sold gradually down to 9ORc.
The market firmed up slightly before the
close. May sold up to o0Ac and was
offered at 3O&4c at the end Hess was re-
ported to have bought freely.
Provisions opened firm at a Slight ad-
vance in prices. The International and Chi
cago packing companies were fair sellers
at the opening. The packers generally re-
ported fairly good inquiry for cash meats.
There some decline on the selling re-
ferred to and buyers held aloof, apparently
expecting lower prices; The market backed
and filled little during the day and
acted fairly steady after the first decline
until George Goodwin. about half an hour
from the close. made one of his charac-
teristic raids. which had the effect of
knocking 20c off the price of pork in a few
minutes. Closing prices We're near the bot
TOM Compared with last night May pork
Is 15c lower, May lard .05c lower and May
ribs 05c lower.
Estimated receipts for tomorrow are:
Wheat: AZ cars; corn, $40 cars; oats. 27O
cars; hogs. 1900 head. Leading futures
ranged as follows: