The Indianapolis journal., 1896-02-11
an INNING FOR BEARS
BREAK IN THE RUN OF BULL NEWS
CAUSES WHEAT TO FALL OFF.
Corn Easy and Oats Lower. in SYM
pathy with Wheat-Afl Lines of
Provisions Decline.

CHICAGO Feb. 10.-There was a break
to-day in the run of bull news which wheat
has been having for the past week or two.
and short sellers recovered some of their
losses, May closing 24c lower than Satur-
days closing prices. Corn is practically
unchanged and oats isc lower. Pork de-
clined 7lzc, lard .O21zc and ribs .O5c.
In wheat there was a pretty good trade,
the market having lc range. The feeling
developed was weaker during the early
hours, but later a steadier tone prevailed.
The early news was quite bearish, and
holders were inclined TO realize. North
western receipts were heavy. Liverpool and
Berlin markets were weak, and the Black
sea ports shipped much more heavily last
week than they have been doing Of late.
The fields are already well protected against
severe cold, and reports from Eastern mil
lers were to the effect that wheat was
relatively higher than flour and precluded
the idea OF further purchases of spot grain
in this market, pending the readjustment
of it's value to the price of the manufac-
tured article All this had decided weak
ening tendency. and May wheat, which on
Saturday closed worth 67lsG67Ac, opened
this morning at from 6G9sc down to 663sc,
and had worked down to 66l4c in the course
of another hour. The market was steadied
and flour aggregating $4,000 bushels, of
which 275OOO was in flour. There was a
good cash demand reported at the decline
and this was also something OF a factor,
the total sales being 10000 bushes. The
decrease in the visible was $1,000 bushels,
against a reduction Of 1.0o4Oo0 bushels last
year. More selling was induced on the an
and the price had further decline, first
to 66c, around which point there was pro-
tracted struggle, and then 10 sac, where
,t~~ fo6 a Inn a
weakness continued during the last hour
and May wheat went to 65ssc, or 11zc below
the close Saturday. After that 1t rose
quickly TO 66i2c and left off at $3.50. The
recovery was due to the report that in jan
uary the worlds stock of wheat and flour
decreased q. $4,000 bushels. and to the TAX
here for rail shipment and twelve boat
loads at New York for export
Corn was quiet and shade easier with
wheat, but light receipts ana free exports
ever, was dull and narrow. May opened
unchanged at 30ssc, sod to 3OssQ30lsc, and
off to 3Oisc. There was a little rally during
the closing hour and May reacted to 3o4sc,
at which ii closed.
Oats were quiet and heavy. influenced by
a similar feeling in wheat May opened asc
lower at 21Ac, sold at 2l3sc, declined 10 Zlc
and closed at INC bid.
Provisions were inclined to weakness at
the opening on account OF the Unexpectedly
large run of hogs, but buying orders quickly
absorbed the offerings and prices held well.
But the heaviness of the grain markets In
the afternoon had depressing effect, prices
declining before the close to near the low
est figures made at the start. May pork,
which closed Saturday at s1032h. opened at
from $lO271a down to $1022h recovered to
$lO35 and closed at sl0.25 bid. May ribs
opened .05c lower at 5.27l1c, sold at 5000
5321ac and closed at 5.271ac bid. May lard
opened 021zc lower at 5.65c, sold to 5.6713c
and closed at the opening price.
Estimates for TueSday-Wheat 36O cars;
corn 300 cars; OATS 260 cars; hogs, 5000
head.
leading futures ranged as follows: