The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-01-06
BACK AT THE OLD PRICE
HEAVY SALES OF WHEAT CAUSED
FURTHER DECLINE YESTERDAY.
4 Weak Foreign Market Helped Con-
tribute TO the SIcmp-Other Mar
kcts Almost Unchanged.

CHICAGO. jar. 5.-Wheat lost SIC to-day
and now stands exactly where it did at
the end OF the year. Weak foreign mar
kets and a renewal of selling. characteristic
of yesterdays session. were the factors.
Other markets were dull aud without note
worthy change in value.
In wheat the bearish feeling created by
the dumping on a narrow market of some
four or five million bushels of long wheat
was still perceptible. May opened at from
SSsc to Sic, or about where il left off yes
terday. and in an hours time and on a
rather limited amount of business May
got down to S3l5c. The preponderance of
the news was bullish. Liverpool was only
Ad12d lower at the opening or from l2c to
&c per GENITAL decline, as compared with the
1c per bushel Dropped yesterday. Receipts
at Chicago were 81 cars, against leo on
the similar day of the year before. Min
neapolis and Duluth received lag carloads
compared with 34 a week ago and Ala on
the corresponding day of the year before.
The great falling off in the orthwe
receipts was ascribed 10 the blizzard which
had been raging in that region for two
lays. Thoman's report claimed that the
stocks of wheat in farmers hands and in
the visible are now 63. 900. 900 bu less than
at this time last year. and that should we
export for the next six months only the
same as we did the same six months last
year we will then have only $1,000. 600 bu
left in both the visible and the invisible
supply. But it was hard TO get up any in
terest in the trade and there was lack of
confidence and a disposition TO get rid of
long stuff. especially after the weak clos
ing. European quotations were posted. The
lowed TO recover itself from the constant
pounding it had been subjected TO all morn
ing. Al II o'clock, when Bradstreets
worlds visible supply statement was due,
the price had recovered to S3lsc. The pub
LEGATION of the visible in question did not
heip It, the decrease in the stocks being
tween thirty-five and forty boatloads of
wheat sold there for export to-day and
late yesterday. which helped TO steady the
had recovered to S3AMS3%sc.
Corn was not quite so much influenced
yesterday. Local receipts were only 1S9
cars. and seaboard ~clearances were heavy,
amounting to 6S4. 500 bu. both of which facts
tended TO sustain prices. Trrde was very
small and fluctuations natu lly narrow.
May opened unchanged at 2o9sc. sold be-
tween 25@sc and 253sc. closing steady at the
opening price. Trading in oats was a trifie
more active than in corn, but was almost
entirely dependent on wheat for the feel
ing displayed. Sales were made in ex-.
change from January to May at 4Ac differ
ence. Bradstreet's report showed a de-
crease of 2O2.C 600 bu in the visible, but it had
no erect on the market Way opened sc
lower at 1890, declined TO 1850 and closed
at 1880.
Provisions were dull until near the end
Of the session. when "A little life was in
fused into the trade by some buying by
packers. The trade was so small that 1t
took very little buying to advance prices
the notch or two they wound up with.
AT the close May pork was sc higher at
$!.:s5: May lard unchanged at 1871; May
ribs. 212c higher at 81.
TINA Receipts for Wednesday
Wheat. l. cars: corn. 15S cars; oats, ITO
cars; hogs. $4,000 head.
Leading futures ranged as follows.