The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-03-07
GRAIN MARKET DULL
DROP IN THE PRICE OF FRENCH
WHEAT CAUSED A DECLINE HERE.
Corn and Oats Were Dull and Fell on,
but Provisions Carried Fairly
Firm Tone.

CHICAGO March 6.--The French bulge in
wheat, which was tottering yesterday after
noon, took it's tumble to-day, the price for
May losing 1sc per Blu. Corn was about as
dull as it could be, and the price suffered
1sc reduction, and oats closed lsc lower.
Provisions varied the nonotony of specula-
tive detection putting on an appearance of
sprightly firnness.
Wheat started tame and rather weak.
There were numerous sellers at yesterday 5
closing price, which was a4ssc for May, but
not many buyers at over 5414c. For half an
hour the general tendency was up. and the
range of the fluctuations was between $40
541sc and 54ssc The weakness was mere
continuation of the feeling which had begun
to appear yesterday afternoon as a result
of cessation of the bullish advances from
France. Liverpool was quoted I'D lower,
with buyers holding off, but there was a
renewed suspicion of crop damage in
France, traceable in the advices from the
continent. The Paris market was quoted
about steady, and Berlin from e mark to
q mark higher, and second cablegrams
rather confirmed the feeling of uncertainty
regarding the French crop which the COM
parative firmness of continental markets
appeared to indicate. The New York mar
ket was relatively fir1ner than Chicago
received there from France. and there were
buying orders here also for the continent.
The market here tended upward during the
forenoon after having its first weak SPELL
but the extent of the recovery did not
carry 1t above 541ac, and very little could
be sold at that. The firinness reported was
in anticipation of Bradstreets visible sup
ply statements over bullfsh feeling, and
the effect OF such a report having been dis.
Immediately began to weaken In about ten
minutes. it dropped from 54ssd541sc bid to
54lsc, sellers. The Minneapolis and Duluth re-
ceipts were 227 cars, against 1856 cars a year
ago. The total primary market receipts
were $4,000 bu. Closing Paris cables were
not encouraging, and the market finished
weak at 537sc
In the corn pit the traders had no specu-
lation in their eyes and very little in their
actions, and business was. therefore, of the
slimmest kind. The shipping houses report
ed better inquiry from the seaboard for
have been worked. The heaviness of the
wheat market was against any speculative
advance in corn, and such fluctuations as
there We're favored a slight reduction in
prices. May corn opened at 447sc, sold as
low 447s04s4c and as high as 447s@45c,
Fluctuations in oats were narrow and in
fiuenced entirely by the course OF the other
markets Sales were few and far between.
and all small. May started at 29Q2s1sc. sold
at 291sc down to 287sG29c, and closed at
that price To-day's arrivals aggregated SO
cars, = Of which were graded contract.
not remain so. A demand developed, which
changed the feeling of weakness into one
of decided strength. Shorts were supposed
to be the heaviest buyers, but some were
taken also for long account. The offerings
were not free until after pork had adj
vanced from s10.421a at the opening for May
to $l0.721a. At the latter price there was
more than was wanted, and a decline to
$10.62A occurred. leaving the gain for the
day at Tie per bril- Ribs shared with pork
in the Improvement, and made a net gain
to-day of .05c, but lard showed at the CLOSE
no change.
Estimated receipts for to-morrow-Whea
Is cars; corn, 140 cars; oats, III cars; hogs,
$1,000 head.