The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-02-11
STEADY GRAIN TRADE
WHEAT BECOMES FIRMER At CHI
CAGO AND CLOSED Lie HIGHER.
Other Cereals Were Depressed, and
Provisions Fell OF ON Heavy Re-
ceipts of Hogs at the Yards.

CHICAGO, Feb. 9.-Wheat was generally
steady on better foreign markets. Light ex-
ports for the week caused a moderate mid
session slump, but a reaction followed.
May closing Ac higher. May corn closed &c
lower, May oats &c lower and provisions
at declines.
Wheat started firm under the influence of
encouraging cablegrams, but weakened on
the small export clearances and the appar-
emily slow rate of the decrease in the heavy
stocks in sight. Chicago received only four
cars to-day, and Minneapolis and Duluth
got 179. The primary market receipts to-
day were $4,000 bushels. against 416,c coo on
the corresponding day of the year before.
The weeks exports of wheat and flour from
both coasts amounted to 2.22o.20l bushels,
against 2,4S3, 600 on the week previous. Ex-
port clearances of wheat and -four for TWEEN
ty-four hours summed up 1910 bushels.
Guesses on the probable amount of the de-
crease in the visible this week run from
$50, goo to 1000, 900 bushels. Bulls had rather
the best of it for a haiI hour or so, after
which the short sellers had most influence
for an hour and a half, but in the final hour
of the session the buying orders were again
in excess Of those to sell. which was the
latest phase of the trading. May opened at
53a4c and 53A@537sc, against yesterdays
closing price of 551a@65ssc. After keeping
firm around $3.50 and 53Ac for a half hour
it gradually sagged until it was offered at
531ac, but finally became in better request,
and rose again to 53AQ5sMc. with 53Ac bid
at the close.
The corn market was weak. 1T started
with yesterdays closing price bid for May,
and at a sale or two at isc higher, but dur
ing the greater part of the remainder of the
session the price was generally on the down
grade. Toward the end, influenced by the
closing strength in wheat, a rally occurred.
and the wind-up was at q recovery OF Ac
from the bottom of the days range. May
started at from 45c to 45lsc, worked grad
ually down to 441ac. and closed with trading
at 44%Q44Bc. Business IN the PIT was GOOD,
with some good speculative buying for long
account.
Oats met with a fair sale for a Saturday,
and after ruling easier during the earlier
part of the session recovered somewhat,
and closed but a small facton under the
ed to have caused the early weakness by
raiding the market, helped rally prices later
with taking back some OF their early dis
posals. The weaker cash market governed
the early speculative crowd to some ex-
tent. May started at 291sc, sold up to 2SAc,
back to 2Ssc, and closed at 2SQ29lsc.
The provision market started weak, and
continued heavy for the whole of the ses-
SION. The hog receipts. which had been es-
and 1S0, 600 are expected in all during the
next week. The packers were sellers, Ar
mour & Co. being named as leading in that
action. John. Cudahy was also named as a
fairly liberal seller. Prices at the close
showed declines of 15c in pork and .0719c
each in lard and ribs.
Estimated receipts for Monday: Wheat,
10 cars: corn, 80 cars; oats. SO cars; hogs.
A, 900 head.
Iaad;no f,,tures ranoad g follows.