The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-02-25
THE VISIBLE WHEAT
SHOWS LITTLE SIGNS OF FAILING
OFF AND PRICES ARE LOWER.
Cereals Declined mt Chicago Satur-
day, While Lighter Hog Receipts
Made Provisions Firm.

CHICAGO. Feb. 23-Trade on Change
dull to-day and in the end prices
suffered. Compared with the closing rates
of Thursday, wheat is i4c lower, corn is
about 1sc lower, oats lost lac and provis-
ions, although supported by falling off in
hog receipts and a reported good demand
for cash stuff. barely held their own
The weakest feature in wheat was the
prospective failure of the visible to de-
crease largely Monday. Wheat opened with
from ls0Ac below the price it closed on
Thursday. The cables were steady. the re-
ceipts in the Northwest no heavier than
had been expected and nothing else which
might be calculated to cause weakness
made public at the opening. or had
occurred since the close on Thursday. New
York placed selling orders In the hands
of half dozen commission houses here for
execution at the opening. The placing Of
these orders caused the May price to open
at SIC for the most part with few sales
at 53lsc as compared with 53l4c at the close
on Thursday. In New York and st. Louis.
on the contrary, prices showed 1sc improve
nent at the opening. The tendency here
during the first hour after the opening was
toward the picking up of the l4c dropped
at the start. 1t was generally expected that
the decrease in the visible supply Monday
will be less than one million bushels. This
q prominent factor in the market. Re-
cepts here were eighteen cars Minneapolis
received $50 cars since Thursday morning
and Duluth reported 10 cars for the day.
Atlantic port clearances since Thursday
were equal to 320, 900 bushels in wheat and
flour. Primary market receipts were 452, 900
bushels. Advices from the seaboard were
to the effect that there were good many
inquiries from aboard for wheat for ship
s,1 ixro1
in this market for export to Liverpool.
The market here had a very narrow range.
527sdo3c being the under edge OF 1T and
53l4c the. upper, with the lower price rul-
ing at the close
The corn market was rather easy at the
start, and decidedly weak toward the end.
The concluding weakness was due to the
estimated receipts of $40 cars for Monday:
The primary market receipts were $4,000
day of the year before. The opening price
for May was from 447sc to @c, with the
higher of these the most general trading
price. There was some buying by local
scalpers when wheat made it's temporary
Ac advance, but the estimated receipts for
immediate Improvement and early buyers
made very vigorous efforts to get rid of
their purchases.
After rising to 45Ac the ensuing decline
took the price down to 44la444ssc, which
was the closing quotation.
active. Prices closed shade under the
last quotations on Thursday in sympathy
with corn, but, Notwithstanding this, the
market was relatively firm. Higher prices
were paid usually and only at the end did
any sign of a decline occur. May started
at 29Ac, sold to 29lsc, up to 2ossc, down to
29c, and rested at 29429lsc.
Provisions, helped by light hog receipts,
opened firm at advance of 1Oc for pork,
&c for lard and from unchanged to 2ac
higher for ribs: The tendency was slight
" downward for a short time. and then
the feeling became steady. with more indi-
cations of improving than of selling lower
until the corn market became 50 erratic.
The drop of Ac in corn had depressing
effect, and the early gain was lost. May
pork and ribs closed unchanged and May
lard .O215c higher.
Estimated receipts for Monday: Wheat,
40 cars; corn, 640 cars; oats, $50 cars; hogs,
10000 head.
TaadinO f,,t,,res ranped aS foJtnurc.