The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-05-09
WHEAT TOOK A FALL
THERE WAS A SHOW OF STRENGTH
At IRIS WHICH DID NOT LAST.
Corn Was Strong, and July Closed
1-Sc Higher on the Day-ProvisiOns
Advanced in All Lines.

CHICAGO. May s.-wheat started firm
and closed at &C decline to-day. the weak
ness resulting from the favorable weather
and heavy realizing on the bulge. July
corn closed sc higher. July oats &c lower
and provisions scored advances.
Wheat started with a show of strength
to-day. and the price stood up remarkably
we'll until about IL o'clock. but about that
time the props were withdrawn and il had
a severe tumble. Some Of the early strength
was due to the bullishness on corn and
some of it was ascribed to the Northwest
ern elevator proprietors, who bought July
wheat freely all morning and replaced their
hedges by selling September to an equal
extent. When those influences were with
drawn the collapse referred to quickly fol-
lowed. Generally the, appearance of the
country and crops were spoken of in the
speculative degree, except from some
Southern places, the winter wheat belt and
from this State and Indiana, which had
been missed by the recent rains. The open
ing trades in July were at from 63isc TO
634c. and the price did not get substan-
TALLY below 63c until midday. 1t had in the
meantime sold as high as 637s463iac. but by
about 12:15 p. m. it tumbled to 623sc in quick
order. The receipts at Minneapolis and Du-
luth were 25 cars, compared with 2i7 a year
ago. Primary market RECEIPTS all told were
260.0 600 bu, as against 1I9, 600 bu a year ago.
Exports from the Atlantic seaboard of
wheat and flour together amounted to 2S.-
600 bu. The Liverpool market was quoted
24d higher at the opening, closing with 11d
net gain since yesterday. Paris closed
firm at an advance OF . centimes for flour
and from 10 confines TO % centimes adj
vance in wheat. Berlin was given at a de-
cline of from u mark to y mark. Some
more wheat was worked from here for
fn..,n 80 1tnIn1n M NM NM hI hard
spring wheat was reported worked for ex-
port from Duluth. and a dispatch from
there said the market was on a parity
winter wheat more closely concerned spec
ulators say that prices here are from &c to
&c above an export basis. The chartering
of vessels for the shipment Of 25 600 bu
caused "A slight revival near the close. and
there were buyers at 621ac as the session
ended.
The corn market was firm and averaged
higher than on the day before. but in the
end there was very little change. The open
ing price for July was 5O4c, and Ii ad-
vanced TO sic before it had any decline.
1t then turned down to 5Osc. but had a
quick advance to 5ll2c on the covering or
mission house. 1t worked down again to
503sc and closed with sellers at 50s4c. The
receipts were only s. cars and the. ship
ments 80, 600 bu. Estimated receipts FOR to-
morrow are 81 cars. Offers sent to the
country last night by a commission house
brought many. more acceptances this morn
ing than has been the case for some time.
from which 1t is inferred that farmers de-
liveries are increasing. The charters to-
day were for 1900 bu-
Oats were fairly active during the great
err part of the session. Fluctuations were
to a great extent ruled by corn. The cash
market for oats was frmer and extended
into the nearby deliveries. July and Sep
TENDER were lower at the close. May sold
from 2Sl2c to 2S%c, and closed there. July
started at 2S%d2S%c, sold at 2S4c down to
2S3sc, and rested at 2s12c.
Provisions were firm and closed with adj
vances of 2212c in pork, .02l2c In lard and
.O5c i'm ribs. The demand was quite moder-
ate, but. light as IL was, the offerings. were
insufficient without the above-named adj
vance. Hog receipts were Z.OOo head. ana
they were quoted &c higher. The moderate
receipts and better live hog market were
chiefly responsible for the advance in rates.
Estimated cars for to-morrow-Wheat, 81;
corn. So; oats, $50. Hogs, 2.O0o..
Leading futures ranged as follows: