The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-04-21
ALL MARKETS ARE WEAK
HEAVY ARGENTINE SHIPMENTS AT
Feet WHEAT AND CORN.
Provisions Lower on n Weaker Hog
Trade Favoring July Option.

CHICAGO, April 2e.-The heavy Argen-
tine shipments were the chief factor in
wheat to-day, the close being shade 10
&c lower. Corn closed h@Ac down and
oats a shade to &c depressed. Provisions
at the close were 1Oq15c down.
Wheat traders climbed into the pit at the
opening OF the session with their views
concerning the value of wheat lowered
from Il to y a cent. This was due to the
fact that Argentine last week shipped 81
10000 bu, that cables were lower and the
weather conditions remained the fast
friend of the crop. Having given this ex-
hibition after being awakened, the specu-
lative trade proceeded TO slumber. For
four hours-in fact, nearly the whole ses-
sion-the fluctuations were narrow. On the
fair face of the crop prospect there of
course remained a wart in the shape of a
rather poor outlook for Michigan, Ohio
and Indiana, and the consideration of this
matter of crop history so affected one
Spectator that he covered a short line of
400 900 bu. But the others only smiled and
cheerfully sold it to him. The cash bust
ness was fair-15O.OOO bu here. $4,000 of it for
direct export New York put the export
business at thirty loads and Philadelphia
reported thirty-five loads. This had a
steadying influence, which held to the end.
The spread between May and July widened
to 11Ac during the afternoon and there was
considerable changing" The local crowd
sold May and took July, while the eleva-
tors, in moderate way, reversed the &C
ton. Primary receipts were $4,000 bu,
compared with 900 bu last year. Mime
apolis and Duluth reported 262 cars,
against 271 a year ago. Local receipts were
forty-two cars, none of contract grade.
Clearances in wheat and flour. were equal
65isd65Ac to 65c, advanced TO 65l44652sc,
closed 14c down, at 65Ac. July began the
session sc lower, at 66ssQ6612c to 665sc,
touched 66$4c and closed a shade down, at
6624c.
In corn the market largely belonged to
the scalpers. Trade was quiet and the
range narrow. The opening was from Ac
to 1sc under yesterdays closing figures,
but the close showed part of this recov-
cred. The Argentine shipments were
| larger. and this, together with the good
weather and lower cables, was factor.
| Local receipts were POI cars. The country
movement was reported still light. May
sold between 3SqSS1sc and 3S1zc, closing 1sc
| down, at 3S7sc; July between 39q39ssc, clos
ing BQAc depressed, at 39A@39ssc.
The provisions market was weak and
/
| hogs, the lower grain market and liquida-
| ton which met no particular demand. Out
| side selling was a feature. May pork sold
| from s12 to s12S21a. closing 10c down, al
| $3.50; July from 1910 to s1295 and closed
| 15c lower. at s13: May lard ranged between
| S7.17k and $7.071a. closing 121ac depressed
| at $40; July from S712h to S15 with the
| close 12laG15c lower. at S171aG7.20. May
ribs sold between sos and s71715, closing
| 10G12lac down, at $715; July between S.121.
| and $7021zd7.05. with the close 10Q1212c re-
/ duced, at sos.
| Oats were weak, a matter Of sympathy
| with corn and wheat, the fine weather ant
| increased liquidation. The volume of trade
was augmented somewhat by the decline
| but not sufficiently to create anything like
| excitement Receipts were Isl cars. May
ranged from 23h to 23%c and closed IL
| lower. at 23c;, July from 23lsc TO 227sc. clos
| ing a shade lower, at 23d231sc. There wa:
| some changing of May for July. At tn,
/ opening May held the premium, but wheI
| the market closed there was a shade in ia
| vor of the deferred future.
| Estimated receipts to-morrow-Wheat, 8
| cars; corn, $50 cars; oats, 145 cars; hogs
| 1000 head.