The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-24
WHEAT OFF 11-2 CENT
LACK OF BUYERS AND BEARIsH
NEWS c1UsED A SLUMP.
The Depression Extended to All Chi
cage Markets, Including u De-
cline I'm Pork, Lard and Ribs.

CHICAGO, April 2-wheat turned
sharply to-day and started down at a hot
pace. Lack of demand and free selling
weakened it, and the other markets fol-
lowed. Wheat closed at a decline for the
day of 11zc per bushel, corn at a loss of 11sc,
oats 1ac lower. and hog nroducts finished
at declines.
Wheat started at lie decline. Shorts
had apparently recovered. and there was
much bearish news to encourage sellers
The public Liverpool cable giving the OPEN
ing of that market describes it as steady at
Ad decline. Another Liverpool cable said
that millers were refusing to follow the
advance. Prices Id lower since the open
ing. The Russian shipments of wheat and
flour for the week were reported to be
2, 400, 900 bushels, and an addition of the
clearances from all the exporting countries
reveals a total of S.3S9,00 bushels, COM
pared with estimated weekly requirements
by the importing countries of 100000 BUSH
els, or an excess of 1,6s9, 900 bushels for the
week. The receipts for the day at Mime
apoiis and Duluth were 26 cars. compared
with 1873 cars on the corresponding day of
the year before. An item of considerable
significance was a quotation of s268 for
gold at Buenos Ayres, which is from IA to
Is per cent. higher than the premium makes
Argentine wheat cheaper to the English
lIlDOTlGT, just DIS Lie iCICuL dtdilt IL
silver makes Indian wheat dearer. AS an
offset against that was another dispatch
from Rosario, which ;ias said hold holders yo Of wheat giat
patches reported thirty boatloads OF wheat
taken for export there yesterday, and com
from country millers for No. 2 red. The
cash demand from country millers was
tensive scale to offset the effect of the
cleaning out of all the short wheat. Some
manipulation of the May deal in St. Louis.
which ron tho nrinnS fhnra I'm RI 69n a EO51t
IL o'clock. caused a nervous feeling here
and an advance of lie per bushel over the
opening. The ST. Louis scare was quickly
got over, and the reviving bullish feeling
breaking of what was being styled the St:
from eoAc to eoc and Of July at from elhse
closing prices of 61ssc and 62ssc on the day
before. few sales of May
s msse The aani latter recovered to sezsc and
July to &c before the second break began.
n market ct e aosSs M Nay 0e destined to 5 q and
July to 605sc; the latest trading was at
57Ac for May and 60Nc for July Primary
day of last week and 22l 900 bushels a year
coast were equal to ass, 900 bushels in wheat
and -four. Bradstreet.s statement of the
stocks of the world gave them at 2,Sss,ooo
bushels less than they were a week ago.
The corn market was weak at the start,
under the influence of the break in wheat.
May, which closed yesterday at 48Ac, was
for sale at the start at from 47%c to 471ac.
and sold as low as 47AG47asc before it had
any reaction. 1t reacted to 47%@47bc, but
broke from that point gradually at first
and then rapidly until it touched 1870 near
the close, the latest trading being at 471sc.
Oats were fairly active throughout. To
a great extent reactions followed the course
of the wheat market. Bradstreet's increase
in the visible supply of oats of 325, 900 BUSH
els was credited with assisting the decline.
The feature of the market was the widen
ing of the difference between May and
July. At the opning of the session May
was selling at a premium of &c over July:
at the close prices were kc apart, caused
by an improved inquiry for May, while the
late buyers of July to-day were disposing
of the same quite freely. May sold from
28Ac to 2STc, declined to 281ac, and closed
at 2S%5s2S%c. July ranged from 281ae to Use,
rested at 2Sd2S1sc. 1z@Ac lower than yes
terday.
The provision market was rather quiet,
with very little disposition to trade shown
by the spectators. George Baldwin tried
to. wake up some feeling on the bull side,
but received very slender support and re-
tired. The decline in wheat and dullnesS in
the hog market were given as the reasons
for the apathy in the products. F1uctua-
auctions in prices were not heavy. Pork,
compared with it's value at the close yester-
day, is from 21ac to &c lower, lard from
.05c to .071sc lower and ribs show losses
about equal to the decline in lard.
Estimated cars for Tomorrow: Wheat,
81: corn. 175; oats. 230; hogs, $1,000 head.
Leading futures ranged as follows.