The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-03-28
SHORTS NOT SCARED
Chicago Traders Do Not Believe
Growing Wheat Injured.
The Leading Cereal Started Easier and
Lower and Closed at 38c Decline
Pork Advanced.

CHICAGO, March 27.-The frost damage
to wheat was again the principal factor in
that market, but its probable extent was so
belittled that prices at the close were about
Sc lower than on the previous afternoon.
Corn was firm: oats and provisions strong.
The first gained 1sc, oats 12c and pork and
lard 1712c EACH
Wheat started easy at about &c below
yesterdays closing prices. The same belief
in the power of heavy frost to kill wheat
in its growing stage. as expressed by ma
jOrity Of the traders yesterday, was again
and more emphatically asserted this morn
ing. Discussion on the subject continued to
be quite general during the dull intervals
in the session; but the only conclusion ar
rived at by both parties was that 1t would
be necessary to wait two or three weeks
for confirmation of either side Of the argu-
ment. Dispatches from all points of the
winter wheat-growing country were nulner-
out, but were no more in accord to dam
age or the reverse than were the opinions
OF the operators on the Board of Trade
The receipts here and in the Northwest
were rather larger than on the day before
and Ii appeared that this country and Can
ada are still supplying the importing coun-
tries with more than one-half Of all they
are willing to take. A report from st.
Louis to the effect that 2yOCoo bushels Of
wheat had been worked for export from
thers was the first matter that created a
slight revival of confidence in this mar
ket. The closing cables brought somewhat
higher quotations from the continent, with
Liverpool about as before, but wheat de-
cliEod to 5Sa4 G5S12c, its previous lowest fig
ure, closing at 5Sl2c.
The corn market was inclined to be weak
early in the session on account of the same
feeling prevailing In wheat at that time.
1t became firmer later on some reported
sales for export and the estimate Of only
leo carloads for tomorrow. The receipts
to-day were 207 cars. The Liverpool market
quoted firmer at about ed advance.
and the amount reported oVlocean passage
was 1000 bushels smaller than week
ago. The export sales alluded to were two
small cargoes of No. corn at &c in store
Hannah were the sellers and Irwin-Green
the buyers, and the shipments are TO go
via the St. Lawrence river to Kingston.
There was q good business transacted
in oats. The crowd in general was offering
freely and the shorts, headed by Patton
was also a good buyer. Trading was only
active al times, but taken altogether con-
siderable stuff changed hands. Prices were
hrmer, opening about steady and gradually
advancing, closing at the top prices of the
day. The stocks of contract oats in store
were nevertheless still very light, and this
had considerable to do with influencing
shorts to buy
The provision market ruled strong at i'm
proved prices. The position of the deal in
lard was regarded as a very bullish feature
lively small stock of meats and the good
consumptive demand at present prices were
pointed to as another.
Estimated receipts for tomorrow are:
Wheat 22 cars; corn, 100 cars; oats, III
cars: hogs. 10000 head. Leading futures