The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-03-10
WHEAT BECAME FIRMER
REVIVAL OF WAR SCARE ABROAD
SENT PRICE CT WHEAT HIGHER.
Good Cash Sales Helped to Create
Firmness in the Grain Markets.
Provisions Advanced.

CHICAGO. March 9.-After showing weak
ness all through dragging session wheat
became strong near the end to-day on the
renewal of the war scarce and closed at
sc advance. Good cash sales also helped
to create closing firmness. Outs and pro-
visions pursued a course similar to wheat,
opening weak and closing firm at slight
advances.
May wheat opened weak and lower, the
opening range being from 745sc down to
Use compared with yesterdays closing
price of 15Q15lsc. Almost everything in the
way of news conspired to weaken the mar
ket. From Liverpool came lower quota
tions for wheat, the Board of Trades
cablegram reportirS $id decline and pri-
vate message Id. English consols were UNI
changed al yesterdays advance. and press
dispatches indicated confidence in the ulti-
mate peaceful solution of the Cretan diff
Guilty. Northwest receipts were fairly lib
eral, Minneapolis and Duluth receiving 327
cars. compared with 359 week ago and 467
year ago. Chicago receipts were 81 ears,
against s. cars last year. In addition the
weather was mild, moist and springlike.
About d half hour from the opening a
New York dispatch reported that English
consols declined Il PEI 1t. from the Irst
wheat they had sold at the opening. New
York wired further that there was more
general inquiry from the United Kingdom,
the other markets of which were not
weak as Liverpool. May wheat, on the last
mentioned dispatches, became firmer and
advanced TO 'i3sc. Then another slow de-
ii12c about noon, principally from the dull
ness OF trade. Business IN the pit was al
most entirely among the scalpers during
the forenoon, and very little OF that. Brad
streets statement of the visible supply
which might have created diversion I'm
favor OF the bulls, was not issued, and the
latter had TO depend on floating rumors
OF good inquiry for cash wheat to keep
their courage from deserving them. These
rumorS took tangible shape during the last
hour, cash business TO the amount of 10 900
bushels being reported. The strength
which this caused was greatly augmented
by reports of renewed fighting III Crete the
price of May finally advancing 10 753sc. The
closing VIZ S at i5i4c.
Speculative trading in corn was light
Inc market was weak for an hour after
the opening, but after that sellers became,
scarce and a firm undertone succeeded.
When wheat became strong late In the SEES
sion shorts took alarm and the price took
a little squirt. Exports were 49t COO bushels
May opened 1sc lower at 2ii2c sold between
24ssG2i12c and 2i%4c, closing steady at 245s0
24Ac.
Oats were within a Nc range all day. with
the market almost entirely devoid OF news
prices being influenced altogether by the
course OF wheat. The bad weather is ex-
pected 10 lessen receipts. May opened a
shade lower at 11$sc, sold to l71aGl119sc and
closed al 17I2c.
Provisions opened easier on the weak hog
market, and an additional decline followed
considerable pressure being put on lard
especially, which weakened the whole list
English houses bought literally on the
decline, and the market gradually became
nrm. The strength of corn and wheat also
helped near the end. AT the close Nav
pork was 212c higher at Ss.25ls; May lard UNI
changed at Silo, and May ribs zoe higher
at $A3712d
estimated receipts for Wednesday
Wheat, Is cars; corn, 10 cars; cats. 900 cars.
hogs, 80, 600 head.
Lending fuiures ranced q G foIIau-c.