The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-04-02
WHEAT REMAINS WEAK
MAY FUTURES At ONE TINE YES
TERDAY SOLD UNDER z0C.
The Decline Due Principally to Liqui-
dEtiOn-Siight Recovery Later
Helped the Other Ma rkets

CHICAGO. April May wheat to-day
closed at a loss of Sc, and July at a gain
of hc. May sold at one time below zoe.
for the first time in months, but the mar
ket recovered. Liquidation caused the early
decline and a bad Missouri crop report the
subsequent recovery. Corn and oats We're
firm and advanced about lsc each. Provi-
sions show very little price changes.
In whea the situation at the start was
fully as favorable for the bears as was the
case yesterday, and in consequence trad
ers played for a further break. The Liver
pool market opened from steady at I'M
changed prices to lad higher. and a little
later at I'D decline, compared with yester-
days close. Minneapolis and Duluth re-
ceipts were very heavy for the time of
year, the number of cars reported being 5S7.
compared with 313 Thursday of last week
and forty-five the corresponding day of the
year before. The light receipts last year
were due TO a very severe snowstorm.
Stocks of wheat in Liverpool warehouses
We're As. 900 bu smaller than March /, and of
flour 5000 sacks larger. A Beerbohm cable
gram said stocks of VIII eat in Russian ports
March Is were 16. 4O0, 900 bu. against IA. 240. 600
blu at the similar date the previous year.
The opening price for May varied in diff
ferent parts of the pit from 70tsc to 7O1ac.
against yesterdays closing price of 70Sc,
and touched 70Ac before it made a plunge
to 697sc. At zoe there were a number of
waiting orders. both to buy and sell, and
after "a hot fight. during when it stopped
and fell the other lsc. the buying side began
gradually to get the best of it. Trade was
only moderate, and while more long wheat
was thrown over on the decline there was
more wanted at the same time to cover
shorts. The trade did not improve to any
extent. however. and no fresh move was
made until about 1870 o'clock. when the
Missouri State crop report figures were re-
ceived, and. these showing as bad "A condi-
ton or worse than generally looked for,
the price jumped quickly to .05sG 1024c. The
general condition for the State was re-
ported at 6ic. The acreage sown in the fall
was said to be the same as last years,
but it was further stated tina, "a per cent.
or II would be plowed up. During the last
hour the poor export and milling demand
caused q slight decline in prices, May clos
ing at 7O12c.
ket turned upward. Although trading was
very dull, prices held steady, helped by
the small receipts, wet weather and enor-
nous seaboard c~learances amounting to-
day TO ] .136.00 bu. Prices at no time showed
more than a asc fuctuation. May opened
unchanged at 2i7sc. sold between i44a247sc
and 2oQ25hc. closing firm at 25c.
In oats a steady feeling and an extremely
dull trade were reported. No features of
interest developed. the strength displayed
by the market being almost wholly due
TO sympathy with corn. Seaboafd clear
ances were coo bu. May opened
unchanged at 17Hc, advanced to la%a17lsc,
bringing that price at the close.
Provisions were rather firm and business
showed some Improvement ever yesterday.
but still far from being active. The open
ing was strong on small hog receipts.
After a moderate reaction prices firmed
up again on the strength of the coarse
grain markets. the market closing steady.
with but little change. May pork closed
unchanged at $s.57h: May lard 2lsc higher,
at S42o; May ribs 2lec higher. at &.67QI70.
Estimated receipts on Friday-Whea -
cars: corn, 10 cars; oats. 11S cars; hogs,
1900 head.
Leading futures ranged as follows.