The Indianapolis journal., 1894-04-19
MAY WHEAT LOWER
Crosses the Line Again and Closes
at SO 7-8c Sellers.
Better Crop News the Country Over Ex-
cepting in CalifOrnia-PrOvi-
siOns Gain a Trifie.

CHICAGO, April 1S.-Wheat was weak
at start and finish to-day. closing with a
loss of sc for May. Favorable crop re-
ports were responsible for the weakness
and overcame a temporary advance caused
by California drought and an advance at
Minneapolis Corn was firm and closed un-
changed. Oats quit sc loser for May, and
provisions finished higher throughout the
list.
y heavy feeling was pervading the wheat
market at the opening account of the
rain. which was falling over a great por-
ton Of the winter wheat area. 4 more
considerable decline than the 1zc or so
which occurred at the start was provoked
by the knowledge that in California the
drought was still unbroken, and that the
sleet and snowstormS reported from the
Northwest would cause further delay in
seeding operations there. Trading came
to almost a standstill for a couple of hours
in the middle of the session, and at no
time during the forenoon was there a
heavy trade. The opening prices were
quite irregular but in every case at least
Ac lower than they closed yesterday. and
in majority of instances at I4c lower.
The range for May in the first second or
two was from e01lc to 60c, and for July
from &c to 617sc. May ratified down to
5974c and July to 6lsG6la4c, and then re-
covered to 6O1sc and 62a621sc, respectively.
following which there were numerous
eighth-cent fluctuations and the first recov-
cry, already referred to, was caused by
the strength displayed by the Minneapolis
market. While May wheat here was 12c
lower than 1t closed yesterday, at Mime
apoliS ii was 7sc higher, but the Minneapo-
lis advance being confined to the May fu-
ture IL lost its first effect as a bulliSh fac
tor. The market became firm when Short
ly after u o'clock. IL was known that
wheat in San Francisco, at the opening
tnere. was &c higher than it had closed
on Monday. Some dispatches from there
used strong expressions in characterizing
the extent of damage TO the California
crops; May rose to 6Ol2c, but by ! o'clock
weak at $3.50, sellers.
Corn was very firm, except at the close
Patten Brothers and Bartlett-Frazier were
named as the principal supporters of the
market Fluctuations had a range of Ssc,
ana the price during the greater part of
closing rate. The Liverpool market was id
higher. and handlers of the property here
claimed to have a better inquiry for ex-
port
The heaviness with which the wheat mar
ket closed caused weakness in corn, also.
only small business was transacted in
oats. The fine weather and more favorable
rep0rteS tended to bring about more sellers.
The provision market was easier at the
opening on account of the receipt Of SO 900
hogs at the yards and a decline of 1Oc to
15c in their prices. At the decline with
which the days trading was inaugurated
there was a good demand from shorts,
and that continued during the greater part
Of the remainder Of the session Pork
opened off 2lqq5c, and closed with gain
for the day of 1712c. Lard started with a
decline Of from .G2lkc to csc, and wound
up with an advance Of .10c. Ribs sold off
from .02Ia to .071ac early and then become
strong and closed .1212c higher than they
did yesterday.
Estimated receipts for tomorrow are:
Wheat 63 cars; corn, 230 cars; oats, 135
cars; hogs, $4,000 Lake business was dull
at lc for corn to Buffalo and l01bc for
ing futures ranged as follows: