The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-02-06
WHEAT BARELY STEADY
AFTER ACTIVE FLUCTUATIONS THE
CLOSE WAS UNCHANGED.
Corn and Oats Were n Shade Lower
and Neglected. While Provisions
Continued to Decline.

CHICAGO Feb. 5.-Wheat after huctu-
ating all day over a 1850 range closed at
substantially yesterdays final figures. 1t
sold at one time at 24c advance, but realiz-
ing near the close carried prices down
again. Corn and oats We're neglected and
closed a shade lower. the weakness being
more marked in oats than in corn. Pro-
visions were weak and declined 212G7l5c.
Wheat was subjected at the opening to
much the same sort of influences as it
was Thursday morning. The Liverpool
market was rather disappointing. because
the advance was only I'D to begin with
Both New York and Chicago houses doing
an export business reported that there had
been no foreign acceptances of wheat or
corn offers made the United Kingdom and
continent yesterday. Western receipts
were heavier which was an additional dis
appointment to the bulls at the start and
still another disquieting circumstance was
the falling snow at the time of opening
The opening price for May was from 75Ac
to 7512c against yesterdays closing price
of 75$4c, with a sale or two as low as 751sc
1t kept within the range of 75Ac and 755sc
for about an hour and then gradually i'm
proved until il got TO 76c. AT the latter
point it made a rapid squirt to 76asc a sale
or two at 7615c transpired during the con-
fusion incident TO the quickness of the rise.
The strength was brought about by the
report of rain I'm the Southwest, which is
supposed to have carried off the snow pro-
lection and left the wheat plant exposed to
injury from the cold wave which is eX-
pected to be prevalent in that territory.
The later cables were also said to be better
and clearances from the seabOard amount
ing to 4S0 900 bushels in wheat and flour
showed up generously. Covering i'm this
market of St. Louis shorts and the strength
of the st. Louis market were no small fac
tors in maintaining prices during the MORN
ing. Chicago receipts were nineteen car
loads, against $50 on the similar day of the
previous year. Minneapolis and Duluth re-
ceipts were 2S2 cars. compared with 1874 last
week and 5S4 a year ago. After the market
had touched 76l2c reaction to 76c took
place. This price was maintained for some
time, but during the closing hour the tame
closing cables, coupled with the realizing.
which rather assumed quite generous
breadth, brought about a further reaction
to 1880. The closing price was 753s@l5s4c.
A very small local business was done in
corn. The market was steady until the
close. when it yielded trtie on account of
the softness of wheat. Fluctuations for the
most part did not exceed 1-16c, though
widening out late in the session SSH ~ Atlantic
May opened a shade lover at 24d2iHc. sold
sparingly at 2i1sc and 2l%sc, closing at the
opening price.
Oats were only active at intervals bust
ness for the most part being light and un-
interesting. The market weakened slightly
with the other cereals. Nav opened a
shade lower at l75sq11s4c, sold to 17Bc under
some short covering, then weakened to
llSsc, where IL closed.
Provisions were heavy and prices again
lower. The chief feature was extra heavi-
ness of lard compared with ribs. the
former getting at one period of the session
to 1Oc lower for May than the same deliv-
cry of ribs. Liquidati ton. especially by out
sders. heavy during the morning. but
a little later better feeling developed near
the close on covering by shorts. At the
close May pork was lLzc lower at $500
7.52l2. May lard about 21Rc lower at SITE,
and May ribs 2l9c lower at 1886.
Estimated Receipts for Saturday-Wheat.
- cars: corn. l02; oats, 800: hogs. 1890 head.
Leading futures ranged as follows.