The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-02-06
OATS In ACTIVE DEMAND
SPOT MARKET THE ONLY GOOD FEA-
TURE IN THE GRAIN PITS.
Wheat Dull to Stagnation and Corn
Somnolenf but Firm-PrOvisions
Flat in a Lower Key.

CHICAGO, Feb. 5.-With the exception of
cats, the leading speculative markets OF
the Board of Trade were dull to-day. The
very light demand discouraged holders of
wheat and that market declined sc. Cora
closed a shade lower and oats a shade up.
Provisions were 21kG5c lower.
Wheat was dull to the point of stagna-
ton all day, for although the decline in
prices, which was the net result of the
Gays business, caused sensible increase
in the amount Of business, the best trade
could not be called consequential. The
readiness of the market to respond to even
the smallest encouragement was shown at
the opening May started out 1sQAc higher
az 75Ssc to 75ss97519c, merely because Liver
pool, which had been Indifferent alike 10
our declines and advances. failed to
reflect the drop here yesterday, and be-
cause Northwestern fresh arrivals were
moderate The market quickly touched
7si1c, but in the absence of any pressure
on the market, however, driblets of long
stuff, some for New York, some for for
eign account and more from local scalpers.
came out for the simple reason that the
owners had become tired of holding stuff
which seemed to want. In this
Kramer the market worked off TO 75c, where
something of surprise was in store for
the talent. Selling on stop-loss orders had
been expected at that point. but instead of
that the majority of the commissi IN
houses had small purchases TO make. May
closed CSC under the previous close at 747sc
Export engagements of 80 loads were ig-
ncred, although reports of the prospective
ciosing of certain Minneapolis flour mills
were on hand at that time as a counter
i,ritant. Consul Mayer, at Buenos Ayres
reported that Argentine crop prospects in
dictated an exportable surplus of only 49,
100000 blu. and that the weather was UT
favorable to the crop. Seaboard clear
| ances, 229, 900 blu in wheat and flour, were
disappointingly small. Primary receipts
aggregated $4,000 blu. compared with 10000
bu last year. Local receipts were 80 cars.
enc Of contract grade. while Minneapolis
and Duluth reported 2S3 cars, against &c
last week and 4o3 year ago.
Corn suffered from neglect, but main
| tanned a firm front Light country accept
ances ard moderate receipts. 4OS cars. eo com,
were responsible for the steadiness. May
sold between ss,sS and 1880. and closed a
| shade lower at 391sc.
Oats were fairly active and firm, the fec
ture of the trade being the large number
| of buying orders. The market opened q
shade up, but there seemed, for the mo-
ment to be no disposition to trade There
wss a big demand, but no oats were on
the market. bid of 2oRc for 10000 bu.
however. brought out not@only the amour:
wanted. but so much more that it looked
/ IL the whole crop was for sale. The
secret Of the markets strength lay in IT,,
active cash demand. May sold between
! 25Ac ana 251zc and closed a shade higher
at 257sc Receipts were 3zS cars.
Provisions were fat. The opening was
.2h lower under the influence of heavy hog
receipts and drop in prices at the yards
a little buying caused a small rally early,
hut prices settled back later on selling by
/ packers. May pork CLOSED 211c lower at
| S139715; lard. &c down at S.471s, and ribs
| 2ls45c depressed at s6.9711.
Estimated receipts tomorrow: Wheat,
81 cars; corn, zoe cars; oats, 100 cars; hogs,
$500 head.