The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-03-24
AT BOTTOM PRICES
WHEAT CLOSED WEAK n HEAVY
AT A DECLINE OF SIS CENT.
Other Markets Were Lower I'm Sym
pathy, Corn and Oats Losing Frac-
tfons and Provisions 5a15c.

CHICAGO, March 2.-As a result OF a
break in oats and provisions and a failure
of the export movement in grain. wheat to-
day closed heavy at the bottom price of the
day. Compared with Saturday night. it
shows a net loss of sc. Corn lost Ac, oats
&c and provisions 5Ql5c.
There was a good trade in wheat within
1%c range. The feeling developed was a
little unsettled. the tone early being stronger,
after which a weaker feeling set in, and
the close was easy at 1zqtsc decline. The
news at the start was of a character to en-
courage holders and induce buying. To start
with, cables came quite strong, both English
and continental, Liverpool showing a gain
of 1AqAd. The worlds shipments were re-
ported smaller than last week. at 5.424,0OO
bushels. and this impaired a good deal of
strength TO the situation, and private Liver
pool advices stated that the same started
the advance there. There was a decrease
on ocean passage of 10000 bushels, which
was also a bull factor. and the visible sup
ply on this side showed a larger decrease
than fgurd on. at $4,000 bushels, and ike
wise had a stimulating tendency. AT the
advance there was free and active selling
by the large professionals, and prices finally
yielded, the demand not being sufficient TO
absorb the same. The market was further
weakened by moderate exports. The weather,
too, cut some figure, the cold wave falling
to materialize. and. on the contrary. warmer
conditions are indicated. Northwestern re-
ceipts were again larger than last week. The
break in provisions and oats had some little
effect on the market. and started longs to
realizing, which increased as the session adj
vanced. May opened &c higher at 6SAc,
sold between &c and 6ssc. closed easy at &c.
The corn market was very dull and rather
heavy, but the break was insignificant. TAX
ing into consideration the extreme weakness
Of oats ard the slumpy manner in which
wheat. acted after Its early bulge. May
opened unchanged at $50, sold sparingly at
2Ssc and closed at that price bid.
Oats were active, weaker and lower. with
by local traders. Prices declined 1aQ%c,
and the close was tame at the bottom. May
and July were the active months, and there
which spread the difference from &c at the
close Saturday TO l3c to-day. The buying
was mainly by shorts and did not attract
steady, but weakened under realizing sales.
May opened at 2ohc, sold at 2ohQ2OAc, de-
clined to 1880, and closed with that price bid,
a drop of &c since Saturday. July ranged
from 203sQ20lkc to 1890. and rested with the
Latter price bid.
An unusually active speculative business
market in a general way greatly unsettled.
The market opened rather firm, with mod
crate buying. mainly to provide for outside
orders, and prices were higher temporarily,
in sympathy With theshog market. The east
ness in the grain markets, however, and con-
siderable desire to unload by longs caused
a decidedly weaker feeling. AS prices de-
clined there was considerable pressure to sell,
especially by parties carrying property on
stop orders" and on narrow margins, which
resulted in a marked decline on all the spec
ulative articles. At inside figures the de-
mand improved considerably, and purchases
were fairly liberal n chiefly credited to
shorts. Prices, however, rallied slightly, as
buyers were unwilling TO. follow any advance.
The market closed steady at a small i'm
provement on the inside figures reached.
Estimates for to-morrow-Wheat, 80 cars;
corn, so cars; oats, 100 cars; hogs, 10000
head.
The leading futures ranged as follows: