The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-03-21
ALL GRAIN WEAKENED
WHEAT WENT OFF 1-4C AFTER AN
UNEXPECTEDLY FIR OPENING.
Provision Market Was shaky, and
the Number OF sellers Forced All
Lines to Decline.

CHICAGO, March 20.-After an early adj
vance wheat weakened to-day on bearish
figures from the Agricultural Department.
May closed &c lower. May corn lost lsc,
May oats PC, and provisions finished
slightly lower.
Wheat at the opening was strong enough
to create a mild surprise in the trade. A
rise at the start OF from &c to &c per
bushel was unexpected from the fact that
over a considerable area of the winter
wheat belt copious rains were shown. The
chief reason for the strength was probably
due to speculative situation. The selling
yesterday had been of a too ~sanguine char
acter, and it took but little to alarm the
scalping shorts. Steadiness at Liverpool
this morning in the face of 1ac decline here
yesterday and a slight Improvement in
the price of wheat and -four as cabled from
Par1s at the opening, proved enough to give
the market an upward push, which set the
smaller shorts to buying and created a
nervous suspicion of the wisdom of being
short which lasted for over an hour The
Minneapolis and Duluth receipts were PSI
cars, against sos cars the year before. OF
to-day's receipts 91,94S bushels were winter
wheat, compared with zS,497 bushels of
winter wheat received at the same places
a week ago.. That increase in the receipts
of winter wheat was one of the bearish
features of the days movement, The mar
ket was moderately active for an hour and
then very dull during the next hour and a
half, in which time the price for May had
gone from 56c to 56Aq567sc and back again
10 56c. An addition to the March report
of the Washington Agricultural Bureau
statistician, which estimated the wheat pro-
duction of the world at 1853. 100000 bushels
more last year than in the year before,
caused the market to become quite weak
in the last half of the session. May sold
at 55Nc, although closing cablegrams quoted
advances of Ad to 1ad at Liverpool. I'd per
sack for -four at London, the equivalent of
1kc per bushel for March wheat at Paris
and l mark rise, or &c per bushel at Berlin.
The close was weak at 557s@55Nc.
Corn opened strong, and after advancing
&C above the closing price of the previous
opening for May was 47asc, it rose to 475sc
early in the day and gradually began to
sink from that point until near the close,
when it touched 4 and there We're sellers
had been chiefly instrumental in raising
the price for three or four days were the
most conspicuous sellers on the bulge early.
was said to have been made possible only
by a cut in rail rates of o cents per one
hundred pounds. Receipts to-day were 80
cars, and 160 are estimated for Tomorrow.
Oats were quiet and weaker. Lindeman
was reported to have bought quite freely
of May. Offerings of same were liberal
29ssG2914c. Early, 29Ac was touched.
The provision market was dull and rather
weak. The hog receipts were 2l,0o0 instead
of "a, 600 as estimated, and $1,000 predicted
for tomorrow. At the close to-day the
May futures, as compared with yesterday,
are: Pork and lard 21ac lower. and ribs
unchanged. Packers were moderate sellers
and demand very slack.
Estimated receipts for Thursday-Wheat,
62 cars; corn, 100 cars; oats, 1854 cars; hogs,
+ eadinp futures ranged as follows: