The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-05-08
MARKET WAS STAGNANT
DEARIsH FOREIGN NEWS DE-
PRESSED WHEAT SHARPLY.
Corn Weak and Lower and Sympa-
Hogs Depressed Provisions.

CHICAGO. May Boar of Trade mar
kets were dull to-day. Wheat was de-
pressed by lower cables and heavy worlds
shipments. but the tone was fairly steady.
July closing &c down. July corn closed
nc lower and July oats AQ%c reduced.
Provisions closed weak at from 5Q7hc down
in lard to 171ac lower In pork.
Considering the bearish tenor of the for
eign news, wheat showed considerable in
dependence early. and during the session
this spirit was buoyed up by domestic
news of another sort. Cables were lower,
worlds shipments heavy. Russian ship
ments increasing 10000 bushels for the
week, and there was a small increase on
| passage. Against these were the Ohio
state report, making the crop condition Of
thai State Al per cent, an assertion that
the Kansas wheat was turning yellow from
too much rain and a decrease in the visible
of 2,647,OO bushels. The range of prices
mand and talk of export sales, one firm
here reporting ITO loads sold. A feature
was the demand for July at &c. Several
times the market touched that figure, but
on each occasion the demand exceeded the
supply and slight recoveries followed. The
| May-July spread at the close was 1hc. The
seaboard reported IL loads taken for ex-
| port, and clearances In wheat M flour
were equal to $4,000 bushels. Primary re-
| ceipts were 533, 600 bushels, compared with
40S, 900 bushels last year. Minneapolis and
Duluth reported 354 cars, against 551 last
week and $40 a year ago Local receipts
were "a cars. nine of contract grade. July
opened L0ac under Saturday at 671sc to
&c, sold between 67Nc and &c n closed
Nc down at 67hc.
The corn market was dull and lower, but
prices were steady, following the opening
concession, dictated by lower cables and
| reported freer country offerings. While to
all appearances no important long lines
were thrown into the pit, there was con-
siderable selling by bull hou~ses-enough to
prevent a rally on the announcement of a
| visible decrease of 3,7S1, 900 bushels. Some
improvement in the shipping demand was
reported. Local receipts were 2S cars.
| July sold from 3sAc to 39asc and closed hc
lower at S91kq39sc. AT the close the May
July difference was &c.
Oats were dull and easier, influenced by
| corn. At the bottom the market showed
a bit of rallying spirit on buying by ship
export demand slow. Receipts mere were
1873 cars. July sold between 23Aq23%c and
&c, and closed AQSc down at 23bc.
Provisions were weak. The hog market
| was depressed and long stuff in scattered
| amounts pressed the market, meeting al
| most no support. From the bottom there
| was a little recovery on buying by packers,
but this was on a small scale, and the end
of the session found the market weak. July
pork sold from s11.S0 to $11.65. and closed
| l71kc under Saturday at 81. 721k; July lard
from $3.50 to s6.75. closing 6a71zc down at
| Sc. TN, n July ribs from s6.62h to $6.52h.
with the close 10q12hc depressed at $6.521s
| Q6.55.
| Estimated receipts tomorrow: Wheat, rs
cars; corn, 800 cars; oats, 300 cars; hogs,
| q, 900 head.