The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-01-31
MAY WHEAT HAMMERED
sPECULATORS SELLING HEAVILY AND
PRICES FELL TO 20 Use.
Market Irregular, with Quotations
3-4c Apart on the Opening-COarse
Grain and Pork Lower.

CHICAGO, Jan. 3O.-Speculators in wheat
to-day were very much in favor Of a lower
price for the commodity They sold freely.
both when wheat was strong and when,
through their efforts, it became somewhat
weak. The market, however, stood the pres
sure remarkably we'll and at the close
only &c decline had been recorded in May.
Corn and oats each left off 2.c lower. Pork
was 715c and lard and ribs 212Q5c lower.
Wheat started very irregularly at 12c
above to Ac below Saturdays closing fig
ures for the May future. The very cold
weather had some influence on those who
were so willing to pay an advance, and
lower quotations from Liverpool, with an
expected increase in the visible appealed
to those who were willing to SELL The lat
ter were in the majority, and May, that
started all the way from 771sc to 777sc, de-
clined quickly TO 763Ic. AT that figure the
selling pressure slackened and as there was
fresh food Of crop damage reports, to-
gether with enormous clearances at the sea-
board, early sellers fastened to cover send
ing May up to 77zs@7Sc. Chicago receipts
were 96 cars, against 60 a year ago, and
Minneapolis and Duluth got IT'S carloads, as
compared with S4S last week and 4S7 the cor
responding day year ago. The worlds
shipments Of wheat and flour to Europe
for the week amounted to 10000 bushels,
with a tendency on the part of Russia to
increase her output. The amount on ocean
passage was 100000 bushels more than it
was a week ago. and the result of the
weeks domestic stock taking was an in
crease of 10000 bushels in the visible. The
total of the latter was found to be 2S5S3, 900
bushels, or about 5000, 900 bushels smaller
than at the CORRESPONDING period of the
previous year. The primary Western mar
ket receipts aggregated $4,000 bushels,
against $4,000 bushels a year ago. Clear
ances of wheat and flour from Atlantic
ports, exclusive of Galveston, were 1O53, 900
bushels. Liverpool closed 5sQAd lower for
futures, and Paris showed a decline of 100
Is centimeS. The government crop report,
expected after the close of the session,
caused come selling on account of anticipa-
ton of its containing something bearish.
BeerbOhms, late in the day, sent a cable
gram saying the correct worlds shipments
of wheat and flour should be called 5000, 900
| bushels. On receipt of this piece of news
| holders began to lose confidence again, and
a season Of free liquidation set in under
which May declined to 76Ac, and closed at
| 1910.
Cold weather was a bearish argument in
| corn. Some heavy shorts were supposed to
be covering in a cautious way, on the de-
| clines The selling became pronounced near
the end. May opened 1sG14c higher, at $50
3S34c. declined to $50 and closed at 3SQ381sc
| buyers.
| IOHSS continued TO take pTOHLS III oats
| and this coupled with the business of the
other markets, caused a decline. May
| opened shade higher, at 2S3sc touched
| 289su2834c and declined to 2S1sQ28Ac at the
| close.
The declining tendency of the grain mar
kets near the end of the session had a de-
pressing effect in provisions and included
| selling enough to wipe out an early advance
| A small run of hogs and higher prices at
| May pork opened &c up, at $1O65, sold at
! S10.671a, sold off to $1,000 and closed at
$10.5215 buyers. May lard began 21ac higher
| $3.50 sellers. May ribs started &c better, at
$3.50. weakened to $51712Q5.20 and closed at
| $5.2OG5.221a.
Estimated receipts for o-morrow-Wheat,
$50 cars; corn, 100 cars; oats, $40 cars; hogs,
10000 head.