The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-02-26
RECEIPTS FALL OFF
AFTER WEAK OPENING WHEAT
MARKET GATHERED STRENGTH.
Corn Made "a small Gain, which Also
Assisted the Leading Cereal
Provisions Advanced.

CHICAGO, Feb. 25-After lower open
ing and the promise of a weak session to-
day, wheat took courage from a decrease
in the visible supply larger than was ex-
pected and ended with a gain of &c for
May. Corn, which gained 1ac for May, also
helped the wheat market. May oats closed
14c higher and provisions made slight gains.
There was an easier feeling in wheat
at the opening, due to the heavy receipts
at Minneapolis and Duluth and slightly
easier cables. Minneapolis reported re-
cepts Of 257 carloads and Duluth 335, or
500 together, against 437 on Monday preced-
ing. and 473 on the corresponding day of
the year before. These items, together with
a weak opening to the New York stock
market were the influences which started
May wheat from 52a4Ga2ssc The orders
from outside were few and far between
during the first hour. An impression which
began to prevail that the Visible supply
was likely to show a heavier decrease than
had been expected, advanced the price in
the course of the first hour to 53l53hc. The
visible supply decreased 1,257, 900 bushels
and as it was not generally expected to
have fallen off more than half that much
was element in causing the further adj
vance in price which followed the publica-
ton of the visible figures. An advance
which took place in the price of corn about
( tAG SdIuc tlilie, WAS perhaps CFGi KIlOTC lu-
fuential than the decrease in the visible.
Trade was dull. but the shorts continued
to cover moderately, and, with fair buy
ing. May advanced to 531zc, finishing at
535ac.
Corn opened tame and rather weak, but
became fairly active and closed quite
strong. May opened at 41ac with a sale
or two at the same time at 1-16c under
that to 1880 in a few minutes then
sold down again to it's opening prices, after
which commenced the advance which lasted
substantially up to the close. May rose to
45Ac and in the end there were buyers
at 4o1sM45Mc. The trade was largely local
and much of the days business was due
to a belief that the breaking up of country
roads in consequence of the present thaw
would decrease receipts heavily. Some of
the most persistent and influential among
the present local shorts We're named as
300 carloads as to-morrows probable re-
ceipts helped to confirms the opinion about
prOSpectively smaller receipts.
The market for oats attracted but little
attention. Prices were confined to a mar
row range, and were entirely influenced
by corn. May started at 29@29hc, sold up
to 29ssc and closed with sellers at that
price.
Provisions were quiet and firm, closing
with a slight gain in prices. Compared
with Saturdays closing rates May pork
is 10c higher, lard and ribs each 02lac high
er. Hog receipts to-day were 1900, but
only 5000 are looked for as the run to-
morrow. The early weakness was due to
the heavy hog receipts and the recovery
was the result of t e lighter estimates for
tomorrow and moderate buying by packers.
Estimated cars for Tuesday--Wheat, So;
corn, 305; oats, 55.
Leading futures ranged as follows.