The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-02-11
VERY NARROW MARKET
WHEAT CLOSED UNCHANGED AFTER
AN EARLY WEAK SPELL.
Corn Had Independent Stregnth, but
Oats Closed a Shade DOWNFALL
Provisions n Little Higher.

CHICAGO, Feb. 9.-The grain and pro-
vision markets iuctuated within narrow
limits to-day, governed largely by local
conditions. Wheat closed unchanged. corn
bqAc higher, oats a shade lower and pro-
visions 2kc improved. There will be no ses-
sion of the Board of Trade on Tuesday,
Feb. Il. Lincoln's birthday.
The bearish sentiment of the wheat crowd
manifested itself at the opening of the
market. They were inclined to be some
what skeptical over recently reported ex-
port business and to attach importance
to the moderate temperature and snow
covering enjoyed by the wheat belt, condi-
tons which have obtained for some days,
as well as to needless confirmation of re-
ports that half of Minneapolis flour capac-
ity will fall into temporary disuse on Mon
day. The facts that Liverpool was COM
paratively steady, and that Northwestern
receipts looked light against last years.,
they ignored. May opened HQasc to %Q12c
lower at 4&c to 744c. commission houses
selling, and bears hammering against the
price. Considerable wheat was dumped
during the first few minutes, but the selling
pressure was not long sustained. Infuen-
tial bulls who nave been buying on all soft
spots came to the markets aid, and prices
steadied Shorts covered later on cash sales
of 100000 bu and in sympathy with the
corn strength. forcing May up to 74zc.
The close was steady and unchanged at 74%
Q74&c. a Liverpool cable remarked that
Indian offerings Of wheat were OF better
value than American. Broomhall predicted
bearish reports on the weeks world ship
ments and amount of wheat and -four on
passage. Exporters reported but six loads
taken, which. however, did not deter shorts
from covering. having once changed their
minds. Seaboard c~learances, I'm wheat and
flour, were equal to $50, 900 blu. Primary
receipts reached a total of 49, 600 blu, COM
pared with $4,000 last year. Minneapolis
and Duluth reported $50 cars. against 437
the corresponding day last year. Local ar
rivals amounted to 81 carloads, none of
which graded contract.
Corn experienced n narrow but strong
market. Climatic conditions unfayorable
Tor moving the coarse cereal to market and
light country acceptances to bids sent out
last night, combined with a good cash de-
mand, were the factors sustaining the mar
ket. There was nothing conspicuous In the
days buying, but the scarcity of offerings
in the pit came into clear relief. Receipts
were 3S1 cars. May sold between 3S7sG39c
and S9Ac, and closed B@Ac up at 391sGS9Ac.
Oats were dull and narrow, May selling
between 25Ac and 25$c, with the close a
shade depressed at 25Ac. Receipts were
36 cars, which was considerably over the
esllmate but country offerings were small.
Provisions ruled dull and steady, offerings
being scarce in sympathy with the corn
strength. After fiuctuating narrowly the
market closed 21Ac higher. May pork at
$l4.o21k: May lard at s752hs. and May ribs
at sos.
Estimated receipts on Monday: Wheat.
40 cars; corn, 25 cars; oats, 165 cars; hogs,
$1,000 head.