The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-03-27
WHEAT CLOSED FIRMER
AFTER EARLY DEPRESSION SMART
BUYING CAUSED lie RISE.
Crop Reports More Encouraging for
the Leading Ccreai-Corn Stagnant
and Provisions Declined.

CHICAGO. March 26.-Wheat. after act
ing weak nearly up to the end of the ses-
sion. closed firm at hG14c advance for the
May option. Lower cables caused the weak
ness. and the strong st. Louis market and
a poor Missouri crop report the closing
strength. Corn was almost stationary,
closing a shade lower. Oats closed un-
changed and provisions 214a1Oc lower.
Liverpool. the fine spring weather at
home and liberal Northwestern receipts
contributed to a break OF from &c to sc
with which trading in wheat commenced.
The opening quotations for May were from
722c down to 724c. compared with 723sq
12a4c at the close of the market yesterday,
and in the next forty-five minutes prices
had been pressed down to 12bc. At that
point "a report of the Missouri Agricultural
Department, giving 1.-THE average condition
of wheat for a number of the best coun-
ties in the State at 63 and suggesting that
the full report would reveal lower average,
was received. That caused a recovery to
7212c. Another crop report. however. was
of quite a different character and caused
enough selling to put the price back to 72l4c
again. The smallness Of these fluctuations
shows how dull and narrow trading was.
IA ANlOiI lA QuNStiOi was " NlO WIN
ter wheat millers' league. with headquar-
ters at indianapolis, and gave wheat con-
ditions in the States named as follows:
Ohio. 81; Michigan. 81; Kentucky, 93; Ten
nessee, 97ls; Indiana. u: Illinois,, so. Liver
pool quoted a decline of I'D at the opening,
ard Berlin a loss of q mark. Chicago re-
celved nineteen carloads. Minneapolis and
Duluth received 43s ears. against %. a week
ago and 1872 the corresponding day of the
DTRVlOnS wear ENnOrrS from Atlantic norris
We're again small. amounting in wheat and
flour TO 1873. 900 bushels. English consols were
ole of / per cent. lower, and ii was ru-
mored that French government securities
had also declined. The latter rumor was
said to have been the reason for a strong
spell in the market about 1890 o'clock, when
May price took a run up TO 727sc. All day
it kept well above the previous days clos
ing price for July and considerably higher
than Chicago July price. During the last
hour the price rallied 70 73c, due largely to
II sharp up-turn at St. Louis, where July
sold up TO Zoe. The closing was firm at
72Bc.
1t was a simple case of continued stagna-
ton in corn. Fluctuations covered a range
of 3-16c. but il was not the result of any
increase in the volume of business. The
opening was at a shade under yesterdays
figures. and there was scarcely enough en-
ergy to the market to change the price.
Export clearances were s55, 600 bushels.
May opened at 2f12c. sold between 24SsQ24la
case. closing at 24l2c.
The only animation displayed by oats was
around the opening, when shorts sold quite
freely and brought about a slight decline.
Offerings were readily accepted. and after
a period of weakness prices rallied. The
firmness in wheat was a factor in the re-
covery. May opened a shade lower. at la
11lsc, sold to 167sn17c. rallied TO 17isc, where
lC closed.
The provision market was as devoid Of in
terest as the grain markets A small run
OF hogs had no perceptible effect on the
market. Armour was credited with liberal
selling, and this brought about a gradual
decline. At the close May pork was 1Oc
lower at ss65as671a; May lard 212c lower,
Estimated receipts for Saturday: Wheat.
8 cars; corn. 100; oats, 112; hogs. 5000 head.
Leading futures ranged as follows: