The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-02-28
DECLINE IN GRAIN
RESULTED AFTER A DAY or VERY
NERVOUS FLUCTUATIONS.
Some Evidence that Foreign Traders
Are Attempting tn Manipulate
Americas Cereal Markets.

CHICAGO, Feb. 27.--Wheat jumped UP and
down nervously within 1sc range to-day, but
realizing on the advances finally closed the
market with 1sc loss for May. The corn
market followed, May &c lower. May oats
&c lower, and provisions al light declines.
The arrival of two cargoes of wheat at
New York from Portland, Ore caused some
temporary weakness, but other items of the
early news OF opposite character gave
the prices a sharp upward whirl. Cable
grams from Paris reported that market
firm and advancing and the weather con-
tinuing unfavorable. Liverpool wired that
the market there was strong because of
demand from France for off-coast cargoes,
and the effect of that here was to raise the
price of May rapidly from 537sc to
5issc, the latter being a higher rate
than has been realized before = for
month. The first trading, last
ing for about five minutes. was at from
5S1sc to 53Ac The effect of the French cables
was quickly neutralized when New York
dispatches arrived saying that the receivers
of the bullish dispatches from France were
sellers of wheat in New York. There were
exports from country points in Missouri and
Illinois, enough to check the builish enthu-
siasm, inasmuch as they described the APP
pearance of the wheat plant as it emerged
from beneath the snow as peing uninlured
the latter news Receipts at Minneapolis
and Duluth were 335 cars, against 400 week
ago and 269 on the corresponding day of
the year before. Primary market receipts,
all told, were 479,0G0 bu. The export clear
ances OF wheat and flour from Atlantic
ports amounted to 324 COO bu The closing
cables began firm and the inquiry for wheat
for export at the seaboard reported good,
the market here began to firm UP again in
the afternoon.
Corn was firm for about five minutes
so this morning, but ruled easier later, and
gave but slight response to the midday
strength in wheat. Toward the close it was
rather weak at about NC decline, and closed
at yesterdays prices Receipts were 141
cars, or nineteen less than estimated yeSter
day. For tomorrow 200 cars are expected.
Trading fairly active, but on the firm
spots there appeared to be long corn for
sale. May started at 45iaQ4oSsc, sold down
to 45Ac, and closed at 45.sGl45Ac.
Trading in the oats market was rather
limited, with range OF only Mc in values.
Shorts were reported to have bought in
some stuff early, but all other sales were
scattered. Fluctuations followed those of
corn very closely. May sold from 1850 to
29ssc, and between thesa two prices ali day.
At the end 1sc higher was bid. The provi-
sion market was inclined to weakness, and
closed finally at declines of TIC on pork
and Csc in lard and ribs. Some offers of
long stuff were well received, and the trad
ers apparently concluded that it could not
be disposed of without causing greater de-
Cline and they were willing to accept at
present, and therefors ceased their efforts
after moderate loss.
Estimated receipts for tomorrow: Wheat,
20 cars; corn, 200 cars; oats, $50 cars; hogs,
$1,000 head