The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-03-02
SHORTS HAD AN INNING
WHEAT NEWS FAVORED THE BEARS
AND THERE WAS A DECLINE.
Amount Still in Farmers Hands Said
to he 200, 100000 Bushels-Corn
Low Higher.

CHICAGO, March 1.-Selling by shorts.
owing to Thoman's estimate of over 0O,Oco,-
coo bushels still in farmers hands TO be de-
livered, held wheat down to-day, and May
closed Ad%sc lower. Corn left of a shade
lower and oats unchanged. Pork advanced
71hq1Gc, lard sc and ribs 5qT2c.
Wheat started about where it left off yes
terday. but the tendency was rather down.
ward for an hour or so. The early news
brought matter of comfort to both bulls and
bears. The former were encouraged by firm
ness of foreign markets, bad crop reports
and diminishing domestic receipts. The lat
ter were consoled by rains in California,
where drought existed. and weather
throughout the winter wheat country less
severely cold than had been expected. A
Missouri state crop report called the con-
dition of wheat "A and the acreage z per cent.
larger than last year, giving the total at
LOG, 900 acres. Some aspersions were thrown
upon the value of this. however, as the in
crease claimed was, according to the re-
port of the secretary of agriculture at
Washington. $1,000 acres less than in that
State last year. Chicago receipts were 81
cars, of which seven graded contract. Min
neapolis and Duluth received Az cars, COM
pared with 1S5 for the same day a year ago.
Primary Western Market receipts amounted
to sos, OO bushels, against AIS, 900 last year.
Shipments from Atlantic ports were equal.
in wheat and flour, to 615. 900 bushels. A
heavy business was reported done for export
at Kansas City, but the person there who
owns most of the wheat available for prompt
shipment denied that any had been sold.
Thoman's estimate Of wheat in farmers
hands March / made the quantity 2l6.o 1000
b,tcha1c ond the r,arkef hpoamo weak nO
that announcement. 1t had been acting
heavy, however, since the opening. New
York reported very little inquiry for export.
May opened a shade higher, at 1880 and de-
clined in an irregular way to 73AQ732sc. 1t
reached it's low point on the Thoman figures,
Shorts did the selling, and when they held
their hand a few minutes the price bobbed
up again to 73%c and closed at 1880 sellers.
Light receipts and heavy clearances held
corn steady within a narrow range. A sug-
gestion from the country that the movement,
would continue small from now on caused
considerable covering. Receipts were so;
cars. May opened a shade higher. at 31d
3a1sc, held steady at 3i1sc, then weakened
sellers.
There was very little doing in the oats
of the fluctuations. Receipts were light, 10;
cars. May began 1sc higher, at 2SMc, de-
clined to 2ssc, and closed at 2SAc.
Provisions took an unexpected turn. The
market was very heavy to commence with
and nothing could be seen to lead to an ex-
pectation Of a change that was nevertheless
impending. Shorts. for some unforeseen
reason. took alarm and it did not take long
to put prices a good deal higher than they
opened. May pork started 2l2c down, al
closed at SO. 421hds.S. May lard opened &C
lower, at S.S219, rose to S.. .421a. and
closed at $40. sellers. May ribs began 21aq
&c off at "a 72LT4 * sold AZ "a 791L then i'm,
proved to A.s214q4.S5, and closed at s4.s0@
Estimated receipts for Tomorrow: Wheat
100 cars; corn, 800; oats, 16O; hogs, 5000 head
leading futures ranged as fOllnXS: