The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-02-12
CEREALS ALL LOWER
WHEAT OFF AT CHICAGO on HEAR
IsH NEWS FROM NEw YORK
Closed at n Loss of Use for May
Corn and Oats Also Lost Use
Each-Provisions Higher.

CHICAGO, Feb 11.-Wheat was easier to-
day under lower English cables, May clos
ing 1sc lower May oats and corn each
closed &c lower, but provisions, after an
early slump, finished at an advance Wheat
opened weak here because New York sent
selling orders to inaugurate the days bus
mess, and those of a larger quantity than
the Chicago bulls were prepared to absorb. A
Liverpool cablegram received by a New York
firm, saying that the foreign market, after
opening firmer, had closed weak owing to
freer offerings from Argentina, was given
as the cause of the weakness in New York.
Receipts at primary markets were light
again. The total was $4,000 bu. against
Ii, 0O0 bu on Monday last week. The visi-
bic supply since week ago showed de-
crease of 1,054,oo0 blu, compared with a de-
crease of $4,000 blu on the corresponding
week of last year. May wheat which
closed at 5sa4c bid on Saturday. opened at
one sale at that price, while hundreds We're
at the same time offering it at 535sc. Dur
ing the forenoon 1T ranged between 533sc and
53ss 053l.c, being about steady at 53Iac at 12
o'clock The export clearances were again
disappointingly light Late advices from
Liverpool were weak, and, it was said, were
accompanied with selling orders for wheat.
Continental markets, on the other hand,
showed an Improvement upon Saturdays
closing. Partridge and Charley Smith were
said to have been the heaviest buyers to-
day. The market ruled weak during the
greater part of the afternoon with the
prices at times apparently maintained with
difficulty above 53ssc May closing at $3.50.
The corn marked opened very heavy and
beiow the price at which puts sold on Sat
urday. 1t did not get above the put price
all day, but became WEAKER as the session
progressed up to within half an hour of the
close. There were sellers OF May at the
opening, at from 44a4c to 447sc,, and it had
declined to 441sG44Ac before II o'clock. 1t
became duh after the decline. with feeling
Of heaviness generally pervading the crowd.
The demand for shipment, 1t is claimed,
was very limited. Receipts were light to-
day, but for tomorrow receipts esti-
mated ma to show considerable increases over
creased only $4,000 bu, as compared with
an increase of $4,000 bu year ago. The
trading at 445sc at the close.
In oats quite good business was trans
acted, and values at the end showed a
slight fai.ng off from Saturday: The infiu-
ence of corn could be credited to having
ruled the fluctuations to a great extent, but
besides that there was some independence
to the market. Some quite large lines were
sold out by Boyden and Bartlett Frazier
all of which was readily absorbed by the
off to 2Ss4c and closed at 2S7sc bid The cash
market was dull and full lee off, Offerings
were net large but no inquiry existed.
The provision market acted in most I'M
accustomed manner. The receipts of hogs
were heavier than had ever been known for
one day before, numbering 6S 900 head Not
withstanding such enormous supply of
raw material the prices of provisions at the
close OF the Gay were higher than at the
close of the session Saturday. Heavy
ouying, presumably by shorts, caused the
reaction. May pork. which closed at $40 121s
on Saturday. opened this morning at 50 S.
out recovered from that point and closed
worth a0.15. May lard, which rested at
06oc on Saturday, opened to-day at 6.50c
and closed at 6.621ac bid. Ribs dropped O71hc
per 10 at the moment of the opening but
recovered that and csc besides by the end
of the session.
Estimates for Tuesday-Wheat, 10 cars;
corn, 225, cars; oats, 1S5 cars; hogs 5000
head.
There will be no session Of the Board Of
Trade tomorrow owing to the State holt
day to commemorate Lincoln's birthday