The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-04
CLOSED ON A BREAK ]
WHEAT WEAKENED AFTER HOLD
ING Up STRONG MOST OF THE DAY.
Corn Remained Unchanged, but Oats
Fell OF, and Provisions Suffered
Marked Decline.

CHICAGO, April 3.-Wheat was firm the
greater part of the day on good export
business, but broke sharply near the finish
on easy closing cables and disappointing
Bradstreet's report. closing 1sc lower for
May. May corn closed unchanged. May
oats 1sc lower and provisions at declines.
The heavy export clearanoes of wheat and
flour from New York and Baltimore yester-
day impaired considerable firmness to
wheat, which opened in good demand al the
rate which was named as the nominal
value on the curb the day before. With
yesterdays heavy clearances. followed by
further exports to-day the market became
quite strong, and some bearish matters in
the days news were forgotten for time.
May started with plenty of buyers at 547sc
and sellers at soc, and a compromise was
made at 547s055c. The bulls who had sold
out on Monday afternoon, not wishing to
take risk over the holiday. began to buy
as soon as they saw that the price was not
about to go all to pieces The buying of
that character started general upward
movement which frightened scalpers who
had been inclined to work the short side.
The price rose to 551ac by about IL o'clock
under the good demand and limited offer
ings. Paris was reported cIosing 10 centimes
lower for April -four and 10 icentimes lower
for the September December term OF wheat.
The closing cables and some disappoint-
ment with the result of Bradstreets visible
created a weaker feeling to succeed the
earlier bullishness, and the prices dropped
back again around soc for May. The
last week, which was a disappointment in
asmuch as a falling off to the extent of
100000 bushels had been looked for by some
OF the more imaginative bull crowd. The
Illinois State crop report was very bearish.
IL remarked that damage to wheat by any
had been taken of it and that the crop o,,
promises large yield at harvest. The
heaviness in the market which was in
augurated about noon increased during the
last hour. At the close the price was 54skc
for May.
The corn market was firm early owing to
the small receipts and better demand for
the light offerings The early firmness in
wheat was also an element in the strength
since Thursday were only Ii6 cars and no
are the slender estimated receipts for to-
morSv prm so ood market receipts since
29,oOo bushels on the corresponding two
days of the year before. May opened un-
changed at 4615c, sold from 47c to 463sc
and closed at 461ac Inc market broke with
wheat, but reacted at the close on rnoder-
ate buying.
Oats fo.lowed the other markets in luctu-
atoms and experienced quite a good bust
ness AT the start considerable strength
by ne s soo preea 1he 9
ing grew even stronger Carrington-H
nan took hold freely Other buying was
scattered. Later on in rns session, when
wheat and corn fell back, oats also took
tumble May. sold from 297sc to 3O14c down
to 297sc, at which price it was offered at the
close. July ranged between 29q29hc bid
and 289s028a4c, closing at the low price
The trade in provisions was heavy, but
for long time the market gave no indica-
ton of the impending collapse which re-,
vealed itself near the end The Cudahy
ket, and early in the session Armour &
Co. We're reported. to be giving it some
support. It broke. however, and broke bad
A2.45,. then rose to sl2o1.s 1t held COM
aratively steady until within forty-five
minutes. of the close, when rapid decline
set in, which carried the price off to $12
with $l2121a the latest trading price. a Csc
loss. Lard and ribs acted in a similar man.
ner to pork and at the close lard and ribs
were each loo lower than on Monday Hog
receipts to-day We're q, eco.
Estimates for Thursday: Wheat. 425 cars;
corn, ITO cars; oats, l7o cars; hogs, $4,000
1},.r~ Gut,