The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-05-22
ANOTHER WEAK/MARKET
LOWER CABLES ENCOURAGED THE
BEARS AND WHEAT LOST 3-sC.
In the Face of Selling Pressure Corn
cIined and Pork Advanced.

CHICAGO, May 21.-The wheat market
was weak and lifeless to-day. Lower ca
bles encouraged the bears and they main
tanned a steady selling pressure throughout
the session, crowding the closing figures to
&c below those of yesterday. Corn was
independently firm on covering by shorts
and closed unchanged The same cause
closed provisions at advances of from 212c
to 10c but oats followed wheat and lost 1kc
for July.
Liverpool opened I'D lower and had de-
clined I'D more before trading started here.
The drop was said to be owing to very
favorable weather for wheat in the United
Kingdom. The weather here was chilly
and therefore less suggestive of activity
among the insect enemies of the wheat
plant. Those changes in the general sur
rcundings were apparently the cause of
from 1ac to &c decline, with which July
and September wheat started here, the
former selling at the start at from 71Ac
to Tic and the latter at 66a4c and 6612c.
Some buying orders came in from the
Northwest shortly after the opening and
that, with some buying against shorts.
steadied the market at the decline for a
time. The pressure of selling orders was
kept up, however, and persistent dropping
market through which the price dropped
to 705sc. Chicago receipts were eleven cars
and 10000 bushels were inspected out of
store. Minneapolis and Duluth received AIS
cars, against 346 a week ago and 295 on
the corresponding day of last year. Ship
ments from Duluth were 900 blu. The
elevator stocks of Minneapolis are estimat-
ed to show a decrease of $4,000 blu for the
week and of Duluth a decrease of $4,000
blu or 100000 at the two places together.
The most general estimate of the change in
the visible was 100000 bu. The days eX-
ports from the Atlantic seaboard amounted
in wheat and flour together to about 10000
blu. Closing cables reported Liverpool I'D
lower for the day, Paris 20 centimes higher,
mark lower. Business was very small in
local and professional kind and price of
July wheat after the break recorded was
nainder Of the day, and that was the clos
ing price
In the corn pit. although the trade was
small and wheat weak, there was more
disposition 10 buy corn already shorter than
to add to previously existing lines on that
which were estimated yesterday at 81 cars,
proved to number only 263 cars. Exports
from the Atlantic ports were 2l396O bu.,
July corn opened at 2f12c, the range was
from 24asQ241ac to 245sc, and the closing
quotation was 241aQ253sc
Speculative trade in oats was slow. The
feeling was easy and prices dropped off
peg largely in sympathy with wheat July
opened 1sc lower at 1Sc and after Ac range
closed at opening figure.
The provision market was relatively the
most active of the speculative centers 1t
was strong and higher from the start.
Much of the buying was thought to be for
the ac cunt of the Cudahy brothers. The
days un of hogs was $4,000 head, or 5000
under yesterdays estimate. July pork
closed 10c higher July lard 212c higher and
July ribs 712c higher
Estimated receipts for o-morrow-Wheat,
10 cars; corn, S75 blu; oats, 1868 bu; hogs,
Ia. 900 head.