The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-03-20
WHEAT WAS POUNDED
CHICAGO BEARS SUCCEEDED IN
KNOCKING OFF I-2C FROM MAY.
Higher, but Provisions Suffered
a Final Loss.

CHICAGO, March 19.-Urged by a moder-
ate decrease in the worlds supply and easy
cables the bears pounded wheat down an
other half cent to-day, May closing that
much lower. Corn was stubbornly and in
~dependently strong. gaining 1ac for May.
and May oats followed with lie gain. Pro-
visions were weak. closing at declines.
There were plenty of sellers of wheat at
the opening at from l561sc down to 557sc,
and very few buyers at above the lower of
these quotations. The reason for the weak
ness was made up of the kneading together
of the foreign news and a slight sprinkle
of rain along the southern edge of the
winter wheat belt in this country. Liver
pool was quoted I'D lower. The Minneap-
oils and Duluth receipts were again in ex-
cess of the number of cars reported on the
corresponding day of last year, being $40
cars to-day to 257 last year. Primary mar
ket receipts to-day were 100000 bu, against
279.0O a year ago. The only bullish feat
ure of the days movement was the heavy
export clearances of wheat and flour from
the Atlantic seaboard, which amounted to
45O, 900 bu. That strained the market at
around sec and 561sc during the greater part
of the forenoon, up to about the time when
Bradstreet's report is received. After the
latter report came in the price yielded again
and 551ac became the trading price for a
lew SeCOIlQS jill JId iIOOI HDTtdh. bIdU-
streets visible showed decreases east and
west of the Rocky mountains amounting
70 r,Ssao0 ou' while IN ae E ai oa and anoat
a net decrease of 1,046 900 bu in the worlds
stocks against 100000 bu decrease in the
same time a year ago. The Russian crop
of last year, it was reported, had been
again officially estimated, making 100000
bu larger than previous estimates, but the
later commercial advices from Europe were
that Russian wheat was scarce and held at
Russian ports above its spring value. The
alnCip o. oa hlor C,nfp6 q knpCc and a SLIGHT
decline at Liverpool, a slight advance in
wheat at Paris, no change in values at
There was an increase of activity after
Bradstreets report came in, and during the
time declined to ,5o12c; after recovering again
SO to the end, closing at 557sc.
The corn market set an example of bull
liShneSs which was again the envy of its
bigger neighbor. 1t was kept down by the
bearishness of the latter early in the day,
but asserted a stubborn independence after
a slight decline. and was soon hoisted. The
opening price for May was 1870, it declin-
ing c grra staadys,v 70 Q HIS + ,ws ana ede n i ada
latter price and sold down to 1870, but
found plenty of buyers on that reaction.
900 bu, compared with sos, 900 bu a year ago.
The reports from the interior of this State
are that Baltimore and st. Louis buyers are
| paying 3 cents over Chicago for No. 3 corn
and shipping it to Baltimore and Newport
News, thus prospectively curtailing re-
ceipts at Chicago. The demand for carloads
to go to store was particularly active at an
advance of from 1ac to lie per blu. The May
futures rose before the close to 47A@47asc
and closed at 47Ac.
Oats experienced a fairly active session.
Al the opening values were a shade firm
er and selling became quite general. Bart.
lett-Frazer were principally prominent.
This firmness in corn. however, soon put it
back on it's feet. It went from 29ssc to
2s5sc. sold up to 2ss4c. and closed at that
price.
Provisions went down from the start.
From 81. 80 and Sill. s21s May pork kept on
the slide until it could be bought for s11.573.
1t then became frmer and recovered a lit
tie, but touched S11.55 before making any
| permanent Improvement. After recovering
to $11.@ it closed at $11.70 a loss of %
cents. Lard closed .o5c and ribs .121ac lower.
There was some raiding by Baldwin, and
the expectation of heavy hog receipts aided
in the decline.
Estimated receipts for Wednesday: Wheat.
"a cars; corn. So cars; oats, 1S cars; hogs,
5000 head. ffF