The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-03-26
ALL MARKETS DECLINED
CHICAGO TRADERS CONTINUE TO
SELL JULY WHEAT IN BIG LOTS.
Letters Brokers Took All of May at
Heavy and Scored Losses.

CHICAGO, March 25.-Lquidation of long
property continued on the Board of Trade
to-day the threatening political situation
dominating all other influences. Covering
of short contracts near the close caused
rallies throughout, but left declines in July
wheat of 1aG9sc. &c in May corn, 14a3sc
in oats, and 21aG171hc in provisions, the
latter in May pork. Clique brokers accepted
all the May wheat offered and held it
at S1.N.
Wheat opened weak and lower on the eX-
tremely heavy shipments of Argentine, that
country contributing 2, 900 bushels during
the week compared with one-tenth of that
amount in the same week last year. Liver
pool cables showed declines in that mar
ket, averaging sd, part of which was
quickly recovered, however. From S2ss@S319c
at the start, July fell to SIC and held steady
at that figure for some time, rallying oc-
casionally to S2ssc, only to be pounded down
again. Chicago receipts were III cars,
against nineteen a year ago. Minneapolis
and Duluth reported $40 cars, compared
with 1873 last year. AS the session pro-
crossed the market became still heavier,
July finally tumbling to S1Ac War talk
undoubtedly had much to do with the de-
cline which was accompanied by heavy
liquidation. Professionals covered freely
from SIC down, but the offerings more than
satisfied them. Reports that the Servian
import duty on wheat and corn had been
removed and a cablegram stating that the
potato crop in the United Kingdom was
the smallest since 1884 had little or no eff
feet. Sales of thirty boatloads at seaboard
and the Modern Miller report alleging Sc
rious damage to the growing plant in Cali
fornia, Nebraska, Kansas and Texas dur
ing the recent cold wave, started buying
nj inh
prices full cent May sold between $1.W
and S.O4, closing at $1.O4. July opened 12c
lower, at S2A@S21@c, sold off to SlAc and
closed at S2hQS 214c sellers.
Corn shared in the general weakness, but
although lower prices prevailed there was
profits to hinder full sympathy with the
weakness in wheat. The receipts were only
1872 cars, against $50 estimated and only
tomorrow. The Atlantic port clearances for
the day were 715,000 bushels, about half
from Newport News The recovery in
wheat near the end had a beneficial effect.
May opened &c lower at 2SasQ2S1ac, sold
at 2SA@2Sssc, rallying to 2S12c at the close.
Oats suffered a decline of A@3sc for May
delivery and hQHc for July, on moderate
trading. Longs were the chief sellers. The
weakness in wheat and corn had a good
deal to 90 with the neavness fnae pre-
ports from Atlantic cities were 1000
bushels. The total receipts were 1879 cars.
May opened at from 2514Q25ssc, declined to
21c and closed at 25hc.
Provisions were weak and selling of pork
more especially was urgent for long time.
The steadier feeling in the grain markets
near the end of the session had a some
what reassuring effect and caused the re-
covery of some of the early decline. May
pork showed a loss of 2712c barrel at one
time and of 171Ac in the end. Lard and ribs
were relatively less weak The former lost
for the day 212@5c and the latter 21a05c for
May, with July leaving off at Thursdays
price.
Estimated receipts for tomorrow
Wheat, 40 cars; corn, 125; oats, 165; hogs,
5000 head.
The leading futures ranged as follows: