The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-03-27
ALL CEREALS ARE DOWN
TONE WEAK, LOssES RANGING FROM
AN EIGHTH tt THREE-EIGHTHs.
Liquidation by Longs Affects the Corn
to n Little Higher.

CHICAGO, March 2~6.-Moderate activity
i'm corn was in contrast to the quiet
ness of other markets on Change to-day.
The tone of the cereals was easier, corn
closing hdAc. wheat Ad%c and oats sc
lower. Provisions were steady, closing I'M
changed TO nc higher.
At the opening the corn market seemed
scarcely equal to the pressure from longs
who wished TO secure profits. OF infu-
ences in this condition were easier cables
and better weather in the West. May
opened hc to hGAc lower at 424c TO
421sa42lhc, and declined during the first
hour 10 42c. Offerings at this decline be-
| came lighter and for a time the market
ruled dull and featureless. excepting mod
crate purchases by Phillips. who was re-
rorted to be in a position to control the
market. The selling was general, but in
small lots, much Of it July. which was
let out by St. Louis interests. Small pri-
mary receipts and the continued buying by
Phillips later started shorts to bidding and
as longs suddenly evinced a disposition
to hold tight. or had sold out, the mar
ket recovered sharply to 42%c, the highest
price obtained this season for May de-
livery. Some sold-out longs came in again
on the reaction. This bulge 6et renewed
| pressure from longs who had withdrawn
on the earlier dip and the market again
sagged, May closing easy ls4Ac under yes
terday at 42kd42Ac. Primary receipts were
431, 900 bu, compared with $4,000 a year
ago. Local receipts were 2S4 cars, 80 of
contract grade.
The market for wheat was very dull
| and the trade of a scalping character which
| offered nothing of interest. Sentiment
was still bearish. but the impulse TO sell
was bridled by fear of a bull corn mar
ket. May opened unchanged to bc low
err at 1870. TO 1910 and dropped early to
731kc. Business for a time was at a stand
| still. but later in sympathy with the corn
strength shorts covered and sent May up 10
75%c. Following this, and also In sympathy
with the coarse cereal, the market caSed
and May closed A4ssc lower at 15l2q I57sc.
Exporters reported only two loads taken.
Seaboard clearances in wheat ami hour
were again large, 624,0 bu, compared with
495, 90 last year. Minneapolis and Duluth
reported 33 cars. against 3l last week
and 4S3 a year ago. Local receipts were
1877 cars. 6 of contract grade
Aside from ~listless trading by Scalpers
the oats market was entirely overlooked.
closed sc lower at 25c, in sympathy with
corn. Receipts were 327 cars.
Provisions were quiet, nut averaged
steady on light hog receipts ana higher
prices for hogs. The market was 2 tri1e
easier early on selling by commission
houses, but packers took care of tn"
moderate offerings from this source. The
pressure was mostly on May pork. which
having opened 10c higher at $3.50. WAS
sold down to $3.50. 1t closed unchanged
at SIS. 20. Lard and ribs were comparatively
frmer on local buying. May lard sold be,
tween sS.O21z and sS.O71z, and closed 71ar
higher at sS.071A, and May ribs between
s7.95 and sS.O215. with the close 2Rq5c bet
| ter at $SGS. 0215.
Estimated receipts to-morrow-Wheat,
IS cars; corn, 155 cars; oats, 15 cars; hogs,
| 1890.
Iondinr f1tlrac ranoad DC fnllnUS.