The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-01-16
WHEAT SLUMPED A CENT
WENT BELOW sIxTY-sEvEN ON AR
RAY OF BEARISH FACTS.
Corn Was Easy, On a Lower Plane,
visions Firm and Higher.

CHICAGO, Jan. ia formidable array
of bearish statistics and news and the
lack of demand gave wheat another shove
on it's downward course to-day, May clos
ing 1c under Saturday. Corn closed kGkc
and oats &c lower. Provisions closed 21hQ
10c higher.
Liquidation ruled in the wheat pit
throughout a session which brought moth
ing but gloom for such bull hopes as may
have survived recent reverses. There was
a little demand against puts and its steady
ing influences close to the bottom was
only 0mentary. Throughout there was
selline # long wheat and of lesser lines,
not in volume. but too heavy for the
inv arket. Trading was dull and the
tone /, heavy as lead. Early news showed
decline at Liverpool, an increase in
worlds shipments and in the amount on
ocean passage. May wheat, thus influenced,
opened Sake under Saturday at 674d672sc
This was high point for the day. The
close was at the bottom, May 1c under
Saturday at 66s4c, later news being as bear
ish in tone as that received earlier. Re-
ceipts were large and clearances small
while a Liverpool cable announced that
Argentine wheat was for sale in the Eng
lish markets at prices under American Of
ferings. Primary receipts were 10000 bu
against $4,000 last year. Minneapolis and
Duluth received SIS cars, compared with
sos last week and 7S6 a year ago. Local re-
ceipts were 1O1 cars, 1 of contract grade
Clearances were 13S.00O bu. New York re-
ported 35 loads taken for export.
Taking into consideration the slump in
wheat, the corn market exhibited consid-
cradle independence. Sympathy with the
major market, combined with receipts here
of Y cars over the estimate, resulted in
fractional loss. The expectation of a bear
ish government report exerted some down.
ward pressure, but the worst which can
be said of the market is that 1t was easy.
Light country offerings as usual, were the
chief support Local bulls were the best
sellers Some purchases were made by the
provision people. Trade was quiet. The
local stock increased $4,000 blu. Receipts
here All cars. May ranged from $500 to
33lsc, closing 19qAc down at 33Ac.
In the oats market the feeling was easier.
with wheat and corn, the volume of bus
mess small and the demand scattered.
Some liquidation was actuated by fear OF
| a bearish government report. Local re-
| ceipts were PIG cars. May sold from 237sc
| to 24c, closing sc depressed at 237sc.
The provision market, exhibiting some
| tendency to weaken, turned strong and
closed firm at an advance. Initial figures
| showed small gains from Saturday the
result of hog receipts, under the estimate,
and better prices at the yards. Outside
| selling, influenced by the weakness of
| wheat and some profit-taking by local
longs, resulted in a decline of 5@71ac. The
demand was good, some of Ii from export
| ing people, and holders were chary about
selling at the reduced figures, in Conse-
quence Ct which the market held steady.
Late in the session an influential concern
purchased 1900 tierces of lard. On the
strength of this the whole list went up.
| May pork sold from $10971s to Silly and
| closed 71sG1Oc over Saturday at $1112hG
| Ills; May lard from $6.05 to s615. with the
close nc up at s615; May ribs S.. 80 to $3.50.
| closing 2120t5c inn proved at $5S71eq5J0
Estimated receipts to-morrow-Wheat, 45
cars: corn, 510 cars; oats, $50 cars; hogs,
So 000 head.