The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-02-17
MARKETS ALL LOWER
PRICES DECLINED At CHICAGO on
HEAVY RECEIPTS.
Wheat Went on About lie Saturday,
Corn use and Oats 3-Sc-Pro-
visions Also Weak.

CHICAGO, Feb. 16.-The markets were
weak, wheat more especially SO. Conf
pared with the closing rates of yesterday,
wheat is about 1c lower, corn, 5sc lower.
oats, 3sc lower and provisions also down.
The faith of the wheat bulls rested upon
a foundation of trust in the estimates of
small reserves in farmers hands and the
present rates of receipts tending to under
mine that belief caused the selling of long
wheat, which precipitated to-day's decline.
Corn is coming too fire, for the amount
wanted for shipping purposes and provis-
ions are feeling the effects of the heavy
receipts of hogs
At the opening the wheat market to-day
looked for about two minutes as If it might
rule firm for the day. but 1T quickly faced
about and became weak. May wheat
opened with buyers at 5SAc and some sales
at the same time at $3.50. Before five min
utes of the session had gone by 1t was
down to 525sc. The weakness was the out
come of the increase in the receipts at
primary markets this week leading to the
belief that the previous falling off in the
marketings was the result of the severe
weather and not of any scarcity of wheat
in first hands. The foreign markets were
about steady. Besides the increasing pri-
mary market receipts. the quite moderate
export cIearances are likewise matter of
encouragement. Bradstreets statement OF
weekly clearanceS of wheat and flour from
both both &C coasts showed total 10 OF Of 5,o12 cog
went from the Pacific side. The Western
primary markets received a total of 100000
bushels against $4,000 bushels on the SINH
lar day of last year. Export clearances from
the Atlantic seaboard for twenty-four hours
in wheat and hour together was 225,oo0
bushels The feature of the trading was
the freedom of the selling. Long wheat
came out first in large lots, and that en-
couraged the scalping crowd to add their
offerings, thus swelling the quantity for
sale to an extent which caused further
break to 52l4G523sc. The latter price was
touched about ten minutes from the close.
and virtually uncovered from, the
latest trading beng at 52asc.
position to-day and became weak in SYM
pathy with wheat. There were reasons
other than the decline i, IN wheat. however.
country points is increasing and of the
receipts now arriving here a considerable
shipping demand not being sufficient to abb
sorb Il all. May, which closed yesterday at
at once began to drop off more decidedly.
1t sold down to 44asc and some of it sold
Lie below that. 44asc being the closing
600 blu, against $4,000 blu on the correspond
ing day of the year before. AT the decline
shorts were said to be buyers and the longs
were sellers of the day.
Oats were quite active and met with a
was easy, influenced entirely by the action
of corn: The early market could be called
quite slim. Updyke was reported to have
bought quite freely, covering short sales
May started at 29c sold off to 2Sssc, and
closed at that price bid.
The provision market was steady at the
opening but weakened later in sympathy
with the weakness of the grain markets.
Pork and lard were relatively weaker than
ribs when the price began to give way.
pork closing with net decline OF 10c lard
were 21,00O to-day. and the total receipts
for the week were $4,000. The receipts of
the similar week a year ago were 1365l3.
Estimated receipts for Monday-Wheat,
30 cars; corn, 1926 cars; oats. % cars; hogs,