The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-01-17
WHEAT WENT TO PIECES
WENT NEARLY TO SIxTY-FIvE ON
INCREASED VISIBLE.
Lost n Cent and a Half I'm a Few Min
utes-COrn Firm, Oats Unchanged
-Provisions ON a Decline.

CHICAGO, Jan. 16.-Frantic efforts to
dispose of holdings on the Board of Trade
greeted the Bradstreet's announcement of
a heavy increase in the worlds visible to-
day. May wheat declined 11kc without
check and closed weak 1ssG112c under yes
terday. Corn closed a shade higher and
oats unchanged. Provisions, affected by
the wheat break and heavy realizing.
closed weak. May park 121zq15c, May lard
121zc and May ribs 712q10c lower.
Two days business lack of it, has
cost May wheat 23sQ2izc on the local Board
of Trade. The slump of yesterday received
new impetus to-day from the increase in
the visible of 100000 bu. A moderate in
crease would have occasioned little agi-
tation, but the magnitude of the week s
gain, announced by Bradstreet's about
noon, had the bomb-like effect in shatter-
ing bull expectations. The market had
opened rather heavy in sympathy with the
Liverpool decline, May AQasc under yes
terday at 66ss @6619c. New York, foreigners
and few locals had sold moderately and
some wheat had come out on stop orders.
These offerings had been we'll taken and
at the decline the market steadied and
May had touched $3.50. Business up to noon
had been quiet. Then came the explosion
from Bradstreet's. Holders joined the
crowd of sellers, adding concession to con-
cession to rid themselves of an article the
supply of which was evidently so much
greater than the demand. The close was
at the bottom, May 1ssd1l1c under yester-
day at 6514@65ssc. 1t was explained that
the unexpected magnitude of the increase
in the visible was due to q correction OF
Odessa stocks. Primary receipts were 355. 0OC
blu, against 6S5,000 last year. Minneapolis
| and Duluth reported 2e6 cars. compared
with 365 last week and 4S3 a year ago
Receipts here were IS cars, none of which
graded contract. Clearances were only no.
600 blu. Seaboard exports of wheat were
| COS, 900 blu. New York reported Is loads taken
| for export.
Corn was strong throughout the session
and the close was fairly firm. The trade
was fairly active. Supporting influences
and the announcement that the govern
ment report, which was expected to be
bearish, will not be issued this month
| Corn that had been let out on this expec-
| advance, which, however, was lost later
| IT. sympathy with the wheat break. Local
| receipts were 491 cars. Cash business
amounting to 350,000 bu was done late yes.
| terday. May sold from 33Ac to 33zc, clos
| ing a shade over yesterday at 33A@33sc.
oats dragged, but were fairly steady
with corn. Receipts here were 316 cars AND
clearanceS $4,000 bu. May ranged from
| 2S7sc to 241sc closing unchanged at 237sc
| The provision market was irregular, with
| the tone easy most OF the time on heavy
| realizings, the receipts of hogs-over the
| estimate-and weakened prices at the
yards. Predictions of future liberal receipts
| were freely made. May pork ranged from
s10.95 to s11.1OQ11. 121s and closed 121a915t
| under yesterday at s10.95; May lard from
| 6.021a to $6.10d6.121a, closing 121sc down al
s6.O21a; May ribs from $3.50 to $5S5Q5. S71z
with the close 711G10c depressed at $3.50.
| Estimated receipts to-morrow-Wheat, q
| cars; corn, $50 cars; oats, 217 cars; hogs
| II, 900 head.