The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-03-04
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 i'm All the Pits.

CHICAGO. March 3.-wheat was strong
at the start but weakened and closed j9c
lower for May to-day. The prospects OF
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 n
continuation of the selling, caused a &C
decline. May closing at the bottom May
corn is sc 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
60c bid, started at G9Ac on the prospects Of
a cold wave but after some active trading
at from that to 601sc for few minutes. ii
started on a decline, which lasted during
the first hour and had by that time worked
&c off the opening figures iSizc, becoming
current for a moment or two before note
worthy rally occurred. The very liberal ex-
ports of the week, amounting 10 2,9l2OOO
bushels in wheat and flour from both coasts.
did not have any more than a very transit
tory effect on the wheat market at the
opening. The weather is of the most prem
Using character now, whatever it may have
in store for the future, and the foreign mar
kets still withhold encouragement to ship
pers. Liverpool was quoted quiet at l4d de-
cline in the price OF futures. The North
western receipts were, from bulls point,
discouragingly liberal. Minneapolis report
ing PCS cars and Duluth 81, 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 or wheat there
at the opening and here Schwartz. Dupee
& Co. and other private wire houses were
loaded with selling orders from outside, and
Syx-or he N N
were provided with orders TO buy. w. X.
Linn let go freely, and among the local
firmness at the opening was called "a Linn
break" Trading was lively for half an
hour. After recovering to 59%c on little
buying there a return of weakness. and
on the next slump there were plenty or
sellers at 591ec with some transactions at
1-16c less The closing quotation was at the
In corn there was a very moderate trade,
no noteworthy transactions occurring out
houses which sold quite freely on yester-
days advances. An easier feeling pre-
c Cn t ana prizes sr Tsa a0S the Weather
fine Liberal arrivals are expected Mon
day and Tuesday, which, together with the
s asSn Of WHEAT sss SsuseS rs to the r9Ge s
closing with May but sc from the bottom.
moderate trade. The decline OF 1sqAc
was due chiefly TO sympathy with wheat
and corn, 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 a de-
cline with the gain at the opening lost.
L. was also contributed TO on some sell
ing of pork by one of the packing institu-
lions and the unloading OF some long stuff
by Hemholz A steady feeling subsequent
ly prevailed on a little support being af-
forded the market presumably in the inter-
est of the packing company, but there was
very little trading. 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
21ac higher; May lard, .021ac higher, and
May ribs, .07l2c higher.
Estimated receipts for Monday are:
Wheat. 90 cars; corn, ESQ car; oats, $50 cars;
hogs, 5000 head Leading futures ranged