The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-03-20
LOW MARK IN WHEAT
After Much Depression May Fut-
ureS Closed at 81 D. to 81 3-4c.
Decrease in the Visible Did Not Come Up
to Expectations, and a Heavy
Market Resulted.

CHICAGO, March 19.-Wheat closed at
57%G57Ac to-day, the lowest it has ever
finished for May, showing a loss of Sc
since Saturday. A decrease in the visible
less than was expected, lower cables, good
crop prospects and an increase in the guam
tity of wheat and flour on passage were
responsible for the decline. The working
of 2i0.0 900 bushels for export steadied the
market at the close, but May finished near
the bottom. May corn closed unchanged.
May oats 1Sc lower and provisions a tribe
higher all around.
The warm rains throughout the North
west caused come selling of wheat, and
an easier feeling at the opening. The
amount of wheat and flour on ocean pas
sage increased 2.22i. 600 bushels during the
last week, which was an additional mo-
tive for putting out a few more fives and
tens. Minneapolis reported 240 cars and
Duluth As, against % and POP, respectively, a
year ago. Liverpool was quoted dull and
rather easier at unchanged prices. New
York advised some selling by foreigners
at the opening there. Minneapolis, which
closed sc higher than Chicago on Saturday,
came down to a level with prices here soon
after the opening. There was nothing par
ticularly encouraging in the above items
~ N"C bdAos anu was OH NAdNl
fading of hope for their side revealed in
the increasing premium the holders of
good contracts paid for changing them in
the July. From &c to a shade less was
paid about the middle Of the session to
turn May into July. The market opened at
5SQ5s1sc, and for an hour or SO the f1uctua-
lions were in the main confined to that
small change. AS the figures of the ViSt-
BILE supply came slowly to hand the mar
ket became heavier as the hope of more
than 1.25o.GoO bushels decrease began to
fade. When the actual quantity of the
decrease was fairly established, the price
q May yb fell to US, and Of July to 5sik5
is about 100000 bushels smaller falling off
than was looked for. The total in the visi-
BILE now is 1888, 600. against 9,020, 600 at the
similar period a year ago. The Saturdays
clearances from the four principal Atlantic
ports were equal to about 800. 900 bushels
In wheat and flour together. The closing
cables brought lower quotations from all
the principal foreign exchanges. Without
A shade of encouragement from any quar-
ter, heaviness continued TO rule here. The
port gave the market some support toward
the close. A. c. Buell. & Co. sold $4,000
bushels, w. n. Harper $1,000 bushels, and
2 spring. The trading as the market closed
was at 57ssQ57Ac. There was a fair in
Buffalo.
Corn was dull in the main and at times
extremely so. The fluctuations were mar
row, with Sucn cnange as there was In the
price In favor of those who were short.
There was an increase for the week in the
amount ahoat for Europe amounting to
264.0W bushels. The visible supply there in
creased 392. COO bushels. Export clearances
were small. Bartlett-F Frazier bought In
some short corn, but the general tone was
bearish. influenced apparently by the lib
eral receipts and the heavIness IN wheat.
May opened at 3e24c, sold at 36Tsc and then
alternated for a long time between $3.50
buyers and the same price sellers. 1t
dipped to 36ssc for a moment when the Wis
fble and the estimate of to-morrow's re-
ceipts were received. The market was firm
I'm the last half hour OF the session and
wound up at the highest point of the days
range.
The oats market was dull. Little stuff
was offered for sale and there was even
less wanted. A slightly easier feeling pre-
vailed in sympathy with corn.
Provisions opened a shade firmer on hog
receipts under the estimate and firm prices
at the yards, and after some slight modi-
1cations of the first impression it wound
uD In substantial agreement Herewith.
Notwithstanding and Baldwin were among
the early buyers of lard. The Anglo-Amer.
lean Packing Company also bought mod
%erately. Hog receipts We're 25.OOO. and the
estimate for tomorrow is 2. 900. The clos
ing quotations show SC Improvement in
pork. .071ac in lard and .O5c in ribs.
Estimated receipts for tomorrow are:
Wheat. IS cars; corn, $50 cars; oats. $50
cars. Leading futures ranged as follows: