The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-03-11
DULLNESS THE FEATURE
CHICAGO TRADERS SAW NOTHING
ENTICING IN WHEAT MARKET.
Cuban Situation More warlike and
Stocks of Grain Increasing-Oth-
err Markets Unchanged.

CHICAGO, March 10.-Busness in every
thing on Change to-day was restricted by
the forthcoming government crop reports.
Wheat was weak, partly on the Cuban sit
uation and partly on the steadily increas-
ing contract stocks, and closed ss0s4c lower.
Corn, oats and provisions showed little
change.
Dizziness as marked as at any time during
the holiday season marked the opening in
wheat. There was good deal of uncer-
tainty regarding the figures on farm re-
serves in the forthcoming government re-
port, and traders a consequence were
unwilling to go deeper either way than they
were already. This feeling, in fact. was
marked throughout the session, and the
market at no time exhibited any real de-
gree of activity. The start was easier
Liverpool cables were disappointing, show
ing about SD decline. News from Wash
ington regarding the Spanish complications
was also of a more disturbing character
and another big addition to the stocks of
contract wheat at Chicago was reported
Chicago receipts to-day were So cars, "a of
which were of contract quality, besides
which Al cars and 10000 blu were added from
irregular houses, making over 100000 blu
from this source in the last three days.
weakened holders forced a reduction in
prices from the start, July opening nc
lower at 901aQ9O9sc and May Nc lower at
$1.0412. For nearly half an hour prices kept
within 1sc range. That was helped by an
Improvement in corn, which took place
about that time and also by the predic-
lions of freezing weather over the West
and Southwest; prices improved a trifie-
july to 9OAc and May to $1.W%. 1t was but
however. Though selling
pressure of consequence developed, there
was for the rest of the session almost an
entire absence of buying orders for july
and that delivery slowly but surely CRAWL
tated toward lower level. May for some
emily afraid to sell that delivery, but the
weakness in July finally encouraged them
and offerings became free enough to cause
a drop to $1.04. At that price, however
Letter brokers came in with buying orders
and no further decline ensued. Minneap-
oils and Duluth reported receipts of 291 cars,
Total primary receipts were reported at
44O, 900 bu. Atlantic port clearances, not in
Guiding lin Newport News. We're fairly liberal
at $4,000 blu. Paris was higher and Ant
Werp unchanged. Not much was done in
the. deferred futures. September was
traded in to limited extent, opening nc
lower at 80Ac. 1t sold as high as Sic, but
dropped back and closed at the opening
figures July finally declined to .9O1sc and
closed at 901sQ90Ac. May wound up at 81. o.
Corn was under the influence of the gov
eminent crop report. Expectations that it
would be of a bulliSh nature caused some
covering by shorts early in the session
which resulted i'll fair advance in prices
There was some reselling later in the day
with wheat. Wet weather probably affected
3O12c to SO14c, and closed 1sc higher at 3Oasc.
There was only a small scalping trade in
oats, with prices keeping within &c range.
The dizziness was due to the forthcoming
government report. During the morning
market showed strength in sympathy with
corn, but lost it later. May ranged from
21zsc to 267sc, and closed 1sc lower at 267sc.
Provisions were rather inactive, but
fairly steady, lard having the best sup
port. Some inclination to sell by local
traders was shown at first, but small hog
receipts and the strength of corn resulted
In better demand and an advance in
prices. Everything moved off with grain,
however. the close being steady, May pork
21ac lower at $10.271a; May lard a shade
higher at $5.2213, and May ribs a shade
lower at $5.15.
Estimated receipts for Friday-Wheat, SO
cars; corn, AGO cars; oats, 23O cars; hogs,
dipo f11fst