The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-04-18
WEAK FIRST AND LAST
All News Combined to Cut the
Price Of Chicago Wheat.
Condition of San Francisco Crop Begin
ming to Figure in Eastern Quota
tiOns-POrk Declines.

CHICAGO April 17.-Wheat. after a
weak start. became strong to-day and
held firm until near the end closing weak;
May unchanged and July sc lower than
yesterday. Kansas rains figured in the
opening weakness, crop damage in Cali
fornia caused the interval Of firmness and
some selling at the finish caused the weary
close. Corn was firm, closing at Aq@sc
higher and oats gained sc. Provisions
were weak, losing yesterdays advance.
More rain in Kansas was the first in
fuence upon the wheat market. May
opened nc off at 60Ac, and in a very short
time it touched Coo, or about &c below
yesterdays closing quotation. July rested
at 60ssc on the day before, started at 621sc
and sold off TO &C. Following a decline
there was a lively rally which in thirty
minutes had advanced May to 6O7sc and
July TO 62&c The offset TO the rain in
Kansas which caused the jump was the
continuance of the drought in California.
a San Francisco grain dealer wired
follows: Weather still dry; crop prospects
fair; rain within ten days Will make
good crop of wheat" One message was
dated from San Francisco and read as
follows: Wheat in the Salinas valley fit
only to burn; west side of San joaquin
Portland, Ore, read: California crops a
failure on account of drought. Oregon and
anofher an snacb giving the
weather Up to date said: Every dry; no
signs of rain; hot north winds; look for
sensational advance here tomorrow in
wheat market" The market surged up and
down between 601AG6Os4c for a time on the
foregoing, and then rose for a moment
to SlAc following Bradstreet's statement
OF 1,326,OOO bu decrease in the stocks on
both coasts and 2,304,0 600 bu in the stocks of
the world sale of 10000 orfS Of flour by
a Minneapolis concern was widely heralded.
India and Baltic, together with the other
exporting countries, exclusive of the United
states and Canada, shipped 100000 bu Of
wheat last week Adding the 20c 900 bu
against weekly requirements of 6,50O,000 bu.
Minneapolis and Duluth receipts were S.615
cars, against 26S cars a year ago Toward
the close the market here went to 6Ol5c on
a little selling.
Corn attracted a good deal of atten-
ton and was strong from start to finish.
The receipts were 346 cars. which for two
days inspection, is not heavy. The buying
was OF a very confident character; Brad
streets visible statement gives a decrease
in stocks of 2,23i, coo bushels. May opened
at SS7sq3sc, advanced to 1880, and held
above Ssc during the remainder sarn of of the
OF trading yesterday July sold from 40c
to Csc, and closed at 4O1sc. May rested
Oats had a liberal trade and stronger
feeling, due largely to the strength in
| corn and to the fair buying Prices adj
| vanced &c, and the close was steady al
| about the top.
Liberal receipts of live hogs in the West
| particularly at Omaha and Kansas City,
which were wholly unexpected, and the
ultimate weakness at the yards here. were
responsible for an easy tone to the specu-
lative market for provisions early. A lit
| tie buying on the outside account created
| some steadiness, but as soon as the orders
| were filled a decline followed. some packers
| selling. The volume of trading was light
The DrOductS were subsequently, offered
down, particularly lard and ribs, by two
! or three brokers and one of the packing
| houses. This caused some realizing by
| the longs who thought it a good time TO
try and sell. The result was a pronounced
| break in the market, closing near the in
| side prices Of the day. Compared with last
| lard is .25c lower.
Estimated receipts for tomorrow are
Wheat 90 cars; corn, 90 cars; oats, Is;
cars: hogs, 1900. Leading futures ranged
| folloKvS-