The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-04-27
DULL AND HEAVY
CORN LED III CHICAGO MARKETS
IN POINT OF ACTIVITY.
Early Strength Lost, the Cereals Clos
ing Weak-Lard PredOminated in
the Provision Pit Dealings.

CHICAGO. April 26.-Corn was the lead
ing deal on the Board Of Trade to-day.
Helped by higher cables and a large gen.
eral demand, the market was broad and
buoyant early, but lost ii later. closing
weak, AQ2se under yesterday. Wheat
closed weak, hQ%c to &c down.. Oats
closed CSC depressed and provisions a shade
to 21zc down.
Corn opened erratically because many
had expected a rush of selling orders, in
place of which some of the influential peo-
pie were buyers. The influences were the
strength of Liverpool, particularly for spot,
and the reports of delay in seeding. due to
the rains. A broad general demand de-
veloped at the start, and the price went up
on the jump, longs, shorts and traders
buying as If there was nothing in the world
worth having save corn. At the top the
demand slackened, and in proportion the
offerings increased. The cash business was
poor n New York reported only ten loads
taken for export-a poor showing in COM
parison with recent export business. Under
these conditions the market proceeded to
r~elinquish its early gains and the result
was a weak close. May ranged from 40ssc
~ "a anu SAOota a. W a. ccIzOs 49,
from 41,lc TO 4Olac, closing Aq%c depressed,
at 4O14Q4Oac. Receipts here were las cars.
Trade early was characterized by great
activity, but the latter part of the session
the inaction was much less marked.
In the wheat pit, at the opening. disap-
pointment was felt at the cables, which did
not reflect the advance here yesterday.
In addition to this the weather was re-
ported perfect and the crop prospects ex-
cellent. With these facts in mind, the be-
ginning of trade saw the market easy and
depressed. The corn strength, however,
was felt almost Immediately, and under
that influence wheat rallied. shorts COW
ering freely. The cash business was very
slack and the trade in futures most of the
lime quiet. With the talent bearish, the
break in corn was readily followed early
buyers selling out. The close was weak.
May ranged from 661sc to 65ssc and closed
hq5sc down, at 65asq65hc; July opened at
61%c to 67hc, advanced to $3.50 and declined
to &c, closing at that figure, &c under
yesterday. New York reported ten loads
taken for export, and $4,000 bu were sold
here to go TO the other side. Atlantic port
clearances in wheat and -four were equal
to $4,000 blu. Primary receipts were 440, 600
blu, compared with ABS, 600 blu last year.
NiiiucpdOHS anu Dulutn TePOTIeQ ~ cars,
against 257 last week and 334 a year ago.
Local receipts were 81 cars, none of con-
tract grade.
Oats were steady at one time. but finished
weak, in sympathy with the wind-up in
corn and wheat. Even at the periods Of the
greatest strength in corn and wheat this
market responded very heavily. The cash
demand was reported poor. and the good
weather had a depressing effect generally.
Local receipts were 132 cars. May ranged
from 2S1ac to 23sq23Ac. and closed bqAc
under yesterday. at 23BG23Ac; July sold
from 23sc to 23%Q23hc. and closed BqAc
down, at 232s42S1zc.
Lard was the main item in the provision
market. There was a big trade and the
tone was firm. The range, however, was
narrow. Commission houses were good
buyers, and the general demand was good.
Lard was the most sought-after article.
July pork sold from s12. 9711 to 81. 49,, closing
21kQ5c lower, at sl2.S5; July lard from $7.371z
TO S7.25. closing a shade lower, at $7.25@
7.271A, and July ribs from s7.15 to sos, with
the close a shade depressed. at s7.071k.
Estimated receipts Tomorrow: Wheat, 80
cars; corn, 200 cars; oats, 100 cars; hogs,
21.0O0 head.