The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-03-08
SURPRISE IN WHEAT
MARKET BECAME FIRM AND RE-
COVERED ON BUYING AT THE CLOSE.
Corn and Oats Continued Very Dull,
but Provisions FIuctuated and
Closed steady.

CHICAGO. March 7-After Indicating
pretty strongly that it was about to make
a further break to-day, wheat turned about
and closed strong at the same figures on
the day before. The frmness near the end
was due to the considerable quantity of
cash wheat worked here for shipment, and
to buying near the close of some in New
York, said to be order from Paris.
Corn and oats were very dull again, and
closed without change in prices Provisions
acted nervously and strong.
The course of the wheat market, except
during the first twenty minutes, when it
advanced little, largely a matter of
cold-blooded slugging by some heavy bear
operators. May started weak with sellers,
and trading was 53s4c to 537sc, and worked
up TO 541sm544c. Following that it dropped
to 53la@5s5sc. The Cincinnati Price Current
was very bullish in it's remarks, and the
French country markets, as reported Off
cially were the equivalent of from 21ac to sc
higher. A French cablegram to a New
York house said no serious apprehensions
prevailed concerning the amount of dam
age done to the growing crop. Another dis
patch from Paris said there was no ques-
ton about the damage, the only uncertain
ty was regarding the amount OF 1T; but still
another cablegram from that place said
that the weather in France was improving,
and the latter appeared to Settle the matter
so far as the crowd in Chicago was con-
cerned. The clearances of wheat and flour
from Atlantic ports including 10000 bu from
New Orleans, was only equal to 10000 Blu,
and that was of the weakening jnfu-
ences, which depressed wheat here to 53l2c
about the middle of the session. Another
matter which was a factor in the decline
the report that committee was likely
to be appointed by the State Warehouse
Commissioners to examine into the condi-
market wound up at $3.50 for May. The
fact that 75,000 bu of No. red wheat Tor
immediate loading and for shipment at the
opening of lake navigation was worked here
was an element in the closing strength.
There were rumors of a much larger guam
tity having been worked, but only 1900 bu
at 11ac under May price could be confirmed.
New York wired that some buying or cash
wheat on an order from Paris had caused
a strong closing in the market there.
In corn it was repetition of yesterdays
stagnation. The fluctuations were of the
lightest and the trade OF the smallest pro-
summer. After f1uctuating YEARLY over l4c
range, prices at the close were at the same
point at which trading ceased yesterday.
May sold from 44c to 447sc and closed at
444c.
Oats were almost lifeless, with but lac
range for the day. The market was steady,
influenced by corn. May opened at 81sc,
and closed at 29c.
The provision market was the liveliest on
the floor. Manipulation frightened the deal
ers and caused vigorous trading Ihere was
some selling, but after slight reactions the
market wound up firm. May pork closed
221bc higher, May lard .0T1ac and May ribs
171ac higher. ..,
The receipts for tomorrow are estimated
as follows: Wheat, 40 cars; corn, 240 cars;
OATS 40 cars; hogs, $1,000.
dino f1f1Ir fOltOWS.