The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-03-10
BY OPPOSING INFLUENCES
MARKET THROWN INTO A
VARIETY OF FLUCTUATIONS.
Close Was Lower, but Firm and
Mixed Changes in Provisions.

CHICAGO. March 9.-Disappointing ca
bles and the enormous Argentine shipments
caused a weak opening in wheat to-day,
but this was overcome by the strength of
the Liverpool spot market and the cash
business here. The market receded from
the top on profit-taking. but closed firm,
May AQ%c under yesterday. May corn
closed &c and May oats AQhc up. At the
close the provisions market was practi-
cally unchanged and steady.
The wheat market was active, irregular
and influenced by two strong but opposing
infiuences-the indifference of cables and
the enormous Argentine shipments, against
the strength of the Liverpool spot mar
ket and the big cash business here. The
record breaking exports from the other side
of the equator and the Indifference of Liv-
erpoolr to the advance here yesterday were
felt early. May opening 1sc depressed at
65%@66c. The selling was probably a bit
too heavy. for the news of the spot ad-
vance at Liverpool caused liberal cover
ing by shorts. The prediction of a cold
wave also had an incentive for buying, and
a big cash business was reported under
way. May shot rapidly up TO $3.50. The
bulge was met with liberal proft-taking,
but the sales were readily absorbed at re-
duced prices. The close caught the market
on the return trip from 66d661sc, where it
had been forced by the desire for profits,
and the close was AQsc down at 661sc for
May, which, despite the fact that it was
under last nights close, was considered a
good indication of strength. The cash bust
ness here was put at 290, 900 blu. 200, 600 bu of
- 60 49, Vol x-@-
loads taken for export. Atlantic port clear
ances, in wheat and flour, were equal to
10000 bu. Primary receipts were 6O6, 900 bu,
compared with COS. coo blu last year. Mime
apolis'and Duluth reported 6T3 cars, against
SAL last week and 49 a year ago Local
receipts were seventy cars, fifteen of con-
tract grade.
The corn market was strong and active.
The opening was easy with wheat, but
later there was a recovery, nearly all of
which was held. Gables were higher, re-
ceipts moderate-32S cars here-country Of
ferings very small and the cash demand
good, forty loads being reported for ex-
port at the seaboard. Roads were reported
in bad shape. with a prospect of a se-
we're curtailment of the movement. With
these facts in mind the short interests
bought heavily, one man taking in an
amount put at 100000 blu. May ranged
from 35Ac to 35%c, n closed 1sc over yes
terday at 355sc.
Oats were firm, apparently in sympathy
with corn, but quiet. Shorts were buyers
and there was a fair demand for shipment.
Feeling was bearish, however, because of
large country supplies and q belief that the
government report will be bearish. Re-
ceipts here were go cars. May ranged from
23ssc to 235sc, and closed Aqhc up at 23asc.
The provisions market was quiet, but
steadied in sympathy with the strength
In corn and the Liverpool advance in hams
and lard. There was a fair cash demand.
The opening was a trifie lower, on the lib
eral hog receipts. May pork ranged from
$40. 7215 to sl0.S5, and closed a shade higher
at $40. so; May lard from $50 to 1896. clos
ing unchanged at $5.9211G5.95. and May ribs
at $5.S71a to $5.9215, with the close a shade
lower at $50.
Estimated receipts Tomorrow: Wheat,
As cars; corn, 40 cars; oats, go cars; hogs,
$4,000 head. -
Leading futures ranged az follows: