The Indianapolis journal., 1894-01-18
GRAIN NEWS BEARISH
Chicago Market Heavy All Day for
Wheat Which Lost 3-8c.
Free Offerings Followed by Brad
streets Report of Surplus i'll Stocks
Sent the Price Down.

CHICAGO, Jan. 17-Heaviness was the
feature in to-day's wheat market, and May
closed sc lower after a weak opening and
a decline on free offerings. A reaction
followed with fair buying, but Bradstreets
increase in stocks caused a drop in which
the gain was lost. May corn closed &c
higher, May oats sc higher, and provi-
sions lower all around.
Wheat opened weak with May 1hc lower
at 6iSsc, and a further loss of 1sc was soon
scored. The weakness was caused by un-
favorable market advices from abroad and
a general lack of support. Northwestern
receipts, larger than last year, were also
responsible for the decline Some of the
larger traders were bearing the market
and their free offerings were against prices
AT the decline, however, there was some
pretty fair buying. Cottrel, Champlin and
some of the minor shorts covered a good
deal of wheat at the low prices and a re-
covery followed. Prices held fairly steady
until Bradstreets report of stocks was re-
ceived, which again had a bearish effect
and helped to carry prices back to almost
bottom figures. Bradstreets reported an in
crease Of 1,0i5,000 bushels east of the Rocky
mountains and a decrease of 2S4.000 bushels
west leaving a net increase of 761, 900 BUSH
bushels. Stocks aaoat for and in Europe
decreased 1,3iS,O00 bushels. making a net
increase of 1,2770OO bushels. The export
clearances We're fair and aggregated 526 900
bushels, of which $4,000 bushels was in
| flour and &c. 400 bushels was wheat shipped
from New Orleans. The clearances, with
| little buying at the end of the session
caused a slight reaction and May closed
steady, &c above the days bottom figures.
| May declined 1sc after opening, advanced
| 12d5sc, eased off 2sGl2c and closed at 641Ac.
There was not much doing in corn the
| at no time active. A very steady tone was
| displayed, but the range as a whole did
/ Present receipts are a little more mod
| crate, to-day's arrivals being S33 cars, and
a tendency to steady values. May opened
iss; and reacted 1sc, to close at $77sc. :.
| the other months were quiet The feeling
| at the opening was unsettled. owing to the
break in wheat. and first sales sales were at
| yesterdays closing. better feeling de-
| veloped later, prices advanced zsc, and
closed steady at about the top. with May
Provisions opened weak and slightly
| lower on the run of live hogs at the yards
! ported liberal receipts throughout the
| West, The packers were the principal sell
| ers. the offerings being a little more free,
| but not large On some covering by a
| few shorts prices firmed up to a limited
| extent, to break again on increased offer
| ings. Subsequently the market became ir-
| regular, especially for pork, fuctuating fire.
quently within a moderate range, in re-
| sponse to the corresponding action of
| wheat, with the tendency downwards. The
| buying of pork later on by a prominent
brokers and the filling Of a few orders that
came in caused a temporary reaction, but
| the tone OF the market was weak, as it
| eased off again to limited extent and
closed near the inside prices of the day.
| Compared with last night May pork is
2712c lower, May lard .15c lower and May
ribs .15c lower.
| Estimated receipts for tomorrow are:
| Wheat, 133 cars; corn, 367 cars; oats 100
| cars hogs, $1,000. Leading futures ranged
as follows: