The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-03-05
WHEAT FELL A POINT
Chicago Bulls Discouraged by the
Fine Outlook for the Crop.
Heavy Selling Orders from New York
and London Contributed to- Weak
ness in All the Pits.

CHICAGO. March s-wheat was strong
at the start. but weakened and closed l2c
lower for May to-day. The prospects of a
cold wave caused buying at the opening
but Il was met by free sales. This and
larger Northwestern receipts, easier cables
and the mild and balmy weather, with a
continuation OF the selling. caused a sac
decline, May closing at the bottom. May
corn is 1sc lower and May oats &c lower
but provisions refused to share in the weak
ness of the grain markets and closed higher
all around.
May wheat. which closed yesterday at
Coo bid. started at 60l4c on the prospects of
a cold wave, but after some active trading
at from that to 601sc for few minutes, it
started on a decline, which lasted during
the first hour and had by that time worked
Ac off the opening figures $780, becoming
current for moment or two before a note
worthy rally occurred. The very liberal ex-
ports Of the week, amounting to 2,972.000
bushels in wheat and flour from both coasts
did not have any more than very transit
tory effect on the wheat market at the
opening The weather Is of the most prom
Using character now, whatever 1t may have
in store for the future. and the foreign mar
kets still withhold encouragement to ship
cline in the price Of futures. The North
western receipts were from a bulls point,
discouragingly liberal, Minneapolis report
Ing 26S cars and Duluth "a, or 362 In all. A
year ago these two places reported 3S4 cars.
Chicago received only forty-six cars, COM
pared with POI last year. New York wired
that foreigners were sellers of wheat there
at the opening and here schwartz, Dupee
& Co. and other private wire houses were
loaded with selling orders from outside, and
swamped the people in unloading them VINO
were provided with orders to buy. w. r:
Linn let go freely, and among the local
crowd the decline which followed slight
.irmness at the opening was called "a Linn
hour After recovering to $3.50 on a little
buying there a return of weakness, and
on the next slump there were plenty of
sellers at 5S1hc, with some transactions at
Lice less. The closing quotation was at the
bottom figures of the day.
NO IN n c1e yfre transactoSs Recurring out
side of fairly good buying by one of the
houses which Sold quite freely on yester-
vailed and prices ruled lower. The re-
ceipts to-day were large and the weather
fine. Liberal arrivals are expected Mon
day and Tuesday. which, together with the
Ad.c from the opening figure, the mar
ket afterwards raliy.ipg a fraction and
There was an easier feeling in oats, with
a moderate trade. The decline of bQAc
was due chieny 70 sympathy with wheat
and corn, as the pressure TO sell was not
large. May closed at the bottom figures
of the day.
Provisions opened strong and higher for
pork and ribs and steady and unchanged
for lard on a much lighter run of live
hogs at the yards than estimated. The
weakness developed IN wheat caused de-
cline. with the gain at the opening lost.
1t was also contributed to some sell
ing of pork by one of tbs. packing institu-.
lions and the unloading OF some long stuff
by Helmholz. steady feeling subsequent
ly prevailed on a little support being af-
est of the packing company, but there was
very little trading. a little easiness was
developed shortly before the end Of the
session. the market closing steady how
ever, for pork and lard, and firm for ribs.
Compared with last night, May pork is
212c higher; May lard, .02lac higher, and
Estimated receipts for Monday are:
Wheat. 50 cars: corn, $50 car; oats, 80 cars;
hogs. $1,000 head. Leading futures ranged
L follows: