The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-01-25
MISUNDERSTANDING
WHEAT CLOSED LOWER, AFTER A
SESSION OF sEE-SAWING.
Corn and Oats Were Dull and Weak
Lower Prices for Hogs.

CHICAGO, Jan. 2i.-Rumors that the bu-
bonic plague had broken out in Argentina:
prediction of a cold wave; conflicting re-
ports of the Paris market, and Liverpool
cables combined to-day in forming a fairly
active but irregular wheat market; May
closing easy, a shade under yesterday.
Corn closed a shade and oats h9Ac de-
pressed and provisions, hit by weak hog
market and the heavy trade, 71k@10c lower
for May lard, to 17ls to Zoe down for May
pork.
With Liverpool sd up and a local rumor
crediting Paris with an advance of so CEN
times. the local market opened strong.
May AG2sc over yesterdays close at 67A
Q67ssc. st. Louis was buyer and shorts
covered, under the influence of which May
advanced sharply to 671sc. The official
board of trade cable from Paris put the
Paris market &c higher to Hc lower.
With this support withdrawn and Liver
pool easing off from early figures, the local
market declined, May selling down to 66A
@667sc. AT this juncture, traders bought.
playing for a rally, and there was some
covering by the shorts, on the strength of
a predicted cold wave catching the crop
without snow protection. May reacted to
67i4G67%c. On profit-taking. the price was
depressed to 667s@67c. where the market
lowered until the report that the
bubonic plague had broken out In Rosario,
Argentine Under this stimulus a demand
from shorts sent the price of May to CTS
d674c. but this gain. too. was lost and the
close was easy, May shade under yes
terday at 667sQ67c Up to II o'clock trade
h,.t LOTT ha MIA crrro
stirred UP some animation little before
the close, trade was rather quiet The
conflicting reports; the readiness of shorts
| to cover and of traders to take profits.
served to give an irregular and nervous
| market. Primary receipts were $4,000 blu
against 621 900 bu the corresponding day
| last year. Minneapolis and Duluth re-
ported sos cars, compared with 231 last
week and $50 a year ago. Receipts here
were 26 cars none of which graded con-
tract. New York reports seven loads taken
| for export. Atlantic port clearances, in
wheat and -four, were equal to 100000 bu.
| The cash demand was rather poor here.
Corn was dull and easy, for while the
coarse cereal showed readiness enough to
weaken with the major market It's re-
sponses to any gain by the latter were
| feble. Country offerings were light. and
the export business late Tuesday, impr0Y-
| ed. Receipts here We're only 1879 cars.
| Trade was small. May ranged from 1914
| @333sc to 33c, closing easy, May shade
under yesterday at 33lsG33Ac.
The oats market weakened in sympathy
! with the easiness of corn. Trade was
| small and in the hands of scalpers. The
| cooler weather was regarded as advantage
| Gus to the movement Local receipts were
| $50 cars. May sold from 231kc to 23asc, clos
| ing weak, 1s@A under yesterday at 23Aq
, 2Sasc.
The provision market was weak, affected
<~fr do afPh icf tod
| principally of scattered commission house
| selling and a weak hog market. AT times
| the pit was entirely deserted. May pork
| ranged from s10.S21z to s1O621a and closed
| 17lbG2Oc under yesterday at $1O.62i3G1O65;
May lard from s6OOG6.021a to s5.9211a, closing
! 71sd1Oc depressed, at s59219; May ribs from
| $50 to S5.67i5, with the close 1Oc lower at
| $567lh
Estimated receipts tomorrow: Wheat,
| Sc cars; corn, 1876 cars; oats, 155 cars; hogs,
| $1,000 head.