The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-02-18
MARKETS ALL LOWER
PRICES DECLINED At CHICAGO on
HEAVY RECEIPTS.
Wheat Went Off About lie Saturday,
Corn 5-Sc and Oats 3-Sc-Pro-
visions Also Weak.

CHICAGO, Feb. 16.-The markets were
weak, wheat more especially so. Com
pared with the closing rates of yesterday,
wheat is about lie lower, corn, sc lower,
oats, asc lower and provisions also down.
The faith of the wheat bulls rested upon
foundation of trust in the estimates of
small reserves in farmers hands and the
present rates of receipts tending to rtider-
mine that belief, caused the selling of long
wheat, which precipitated to-day's decline.
Corn is coming too freely for the amount
wanted for shipping purposes and provis-
ions are feeling the effects OF the heavy
receipts of hogs.
At the opening the wheat market to-day
looked for about two minutes as if it might
rule firm for the day, but it quickly faced
about and became weak. May wheat
opened with buyers at 5S14c and some sales
at the same time at $3.50. Before five min
uteS of the session had gone by 1t was
down to $3.50. The weakness was the out
come Of the increase in the receipts at
primary markets this week leading to the
belief that the previous falling off in the
marketings was the result of the severe
weather and not of any scarcity Of wheat
in first hands The foreign markets were
about steady. Besides the increasing pri-
mary market receipts, the quite moderate
export clearances are likewise matter of
Encouragement. Bradstreets statement OF
weekly clearances of wheat and -four from
both coasts showed total of 5,572,000
bushels this week, of which 1,159.000 bushels
went from the Pacific side. The Western
primary markets received a total of 3o7 600
bushels, against $4,000 bushels on the SINH
lar day of last year. Export ciearances from
the Atlantic Seaboard for twenty-four hours
in wheat and Hour together was 225000
bushels. The feature of the trading was
the freedom of the selling. Long wheat
first In large lots. and that
couraged the scalping crowd to add their
offerings, thus swelling the quantity for
break to 52A452asc. The latter price was
touched about ten minutes from the close,
latest trading beng at 52ssc.
Corn dropped into its natural secondary
position to-day and became S,sl weak in SYM
other than the decline in wheat however,
for corn selling down. The movement from
country points is increasing and of the
receipts now arriving here a considerable
proportion is bought to go to store. the
sorb it all. May, which closed yesterday at
44AQ45c, opened this morning at 447sc, and
at once began to drop off more decidedly:
1-1sc below that 44ssc being '' the closing sing
price. Primary market receipts were BIZ
ing day of the year before. AT the decline
shorts were said to be buyers and the longs
were sellers of the day.
Oats were quite active and met with a
very good sale for Saturday The feeling
was easy, influenced entirely by the action
of corn. The early market could be called
quite Slim. Updyke was reported to have
bought quite freely, covering short sales.
May started at 29c, sold off TO 2S5sc and
closed at that price bid
The provision market was steady at the
opening but weakened later in sympathy
with the weakness of the grain markets
Pork and lard were relatively weaker than
ribs when the price began to give way
pork closing with net decline of 10c lard
.o71ac and ribs of only .o2lac Hog receipts
were 2l,00O to-day, and the total receipts
for the week were 236. OOO The receipts of
the similar week a year ago were 130,513
Estimated receipts for ACKNOWLEDGEMENTS
30 Cars; corn, S26 cars; oats, q cars; hogs,