The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-01-09
THE BULLS ROUTED
BOTH LOCAL AND FOREIGN NEWS
TENDED TO DEPREss WHEAT.
Corn In Better Demand and Slight
Gain ScOred-PrOvfsiOnsS Strong,
All Lines Advancing.

CHICAGO, Jan. s.-There was heavier
trading in the grain markets to-day than
for some time past and fluctuations were
rapid. The sombre foreign stock outlook at
first exercised powerful influence, but as
later news was more pacific, the markets
yielded more to ordinary influences and
eased off. Wheat opened irreguarly at
61Q609sc, sold to 611sc and closed at 6OlsQ
604c, loss of sc compared with last night
Corn held it's strength better and closed
14c higher at 29lsc, while oats lost it's early
gain and closed practically unchanged at
1890. Provisions made substantial gains.
Pork showed an advance of 271sc. lard .O5
and ribs, 121sc
Wheat opened strong. but very irregular
ly and under some little excitement. The
first transactions in May were made over
a range of 1ac per bu. at from 6O5sc up
to 6115c. Only one or two trades were eff
fected at the top and bottom prices, the
bulk OF the transactions during the first few
seconds having been at 6O7sc. The price
rose and fell for an hour in mighty swells
of active trading between 6olaQ6lc, but after
the first fifteen minutes of the session the
tendency for the remainder of the hour
was generally downward. The opening
strength was the expression of the doubt
in the minds of the operators regarding the
possibility of an Anglo-German war. After
the opening struggle around 6OBQ61c
there was a gradual decline to 601Ac and
that followed by recovery to Gle
again, due TO a report issued by Statistician
Thoman, which gave the condition of the
winter wheat plant in the six States which
grow it most largely at 7S1, against S4.4
on Dec. ], and adding that ISL is the lowest
status OF the plant ever recorded in the
month of January. But the upward move
ment reused some of the big shorts to make
a hot fight against the advance and a
great volume of long wheat came on the
market and the advance was checked. The
news, too, turned less bullish consols re-
covered all the early decline and the later
cables quoted wheat lower and the Ar
gentine advices reported clearing weather
and said that Argentine wheat was offered
in London to arrive at lower prices. With
this the market here soon became heavy
and many of the early buyers began to
sell out and it did not take long for the
the close last night. The market was
quiet, but steady during the last hour, May
holding at eolsa6ossc. but without much
business and closed at 601sQ60Ac.
Corn opened strong under the continue
ton of the warlike political situation in
Europe 1t acted very nervously for about
May, which closed yesterday at 2S7sc,
started at from 29c up to 29Ac and rose
excitedly to 293sc. Calls. for the day came
into play at the advance and selling against
those privileges brought about a gradual.
but irregular decline. The bulk of the SELL
ing after II o'clock was at from 1914 q29Sc.
and it closed at 291sq2914c. Cash corn
brought 12c a bu more than it did yester-
day.
Oats were strong in sympathy with the
better feeling in corn, but most of the
early gain lost. May sold from 04
2ssc and off to 19s4G197sc split.
Provisions started firm and maintained
that condition all day. The same influences
which had started wheat and corn were at
work in the hog products market and, I'M
like the traders in grain, the provision men
kept UP the good demand with which they
inaugurated the business of the day until
the session was over.
Hog receipts were even heavier than the
heavy number estimated yesterday for to-
day, but the reports from the yards were
that every one wanted hogs at yesterday $
prices. The days run was 1900 head and
As CO is the estimate for tomorrow. Offer
ings of products were light and that was
a feature of the entire days trading. The
days advance in pork was 25q27l2c; in
lard. .05G .071ac; ribs, .12lsc.
Estimated for to-mOrrow-Wheat, 90 cars;
corn. 375 cars; oats, 1S5 cars; hogs. 5000