The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-03-01
SMALL BREAK In WHEAT
PROVISIONS SHOW DECLINES IN ALL
THE DEPARTMENTS.
Corn Makes n Small Gain After "a
Weak O-pcning-0ats Follow Corn
I'm Tone, Closing Unchanged.

CHICAGO, Feb. 2S.-A retrogressive
movement on a moderate scale marked the
early course of the grain and hog product
markets to-day. Provisions at the close
showed no recovery, being from &c TO 12i1c
under yesterdays final figures. but the
grain markets received better support on
the dip. corn closing sc higher. oats I'M
changed and wheat. the easiest of the
grains. Ac lower.
May wheat having opened unchanged to
a shade lower. at 76isc to 76q761kc. declined
during the first hour to 1850 under mod
crate sales by commission houses and gen.
orally bearish pit traders. Outside inter-
ests were practically out OF the market.
The first dip was accomplished In the face
OF steady cables and moderate receipts. A
powerful elevator owner bought heavily
early, but this buying for the time being
was overlooked. The persistency of the
demand from this quarter finally had the
effect of alarming shorts, and a sharp rally
to 76lsc took place. The hberality of sea-
board c~learances and the moderation Of
primary receipts. together with reports of
the appearance of fly in central Illinois,
also combined to make the bear contingent
somewhat uneasy, but their pessimism was
too deep to attach much Importance to
anything advanced by the bulls as conse-
quential, and despite the efforts of the
agents OF the elevator concerns 20 sustain
the market it was hammered back to 757sc,
at which il closed, &c under yesterday.
Exporters reported seven loads taken for
export. Seaboard clearances in wheat and
-four aggregated 49, 600 bushels, while pri-
mary receipts reached a total of 1870
bushels, compared with $40, 600 last year.
Minneapolis and Duluth reported 2S2 cars,
against 35l last week and $50 a year ago.
Local receipts were sixty cars, four of con-
tract grade.
Business in corn was on a fairly liberal
scale. The market eased off under heavy
pressure from the bear leaders and selling
by the GROVE in sympathy with the decline
in wheat. The persistent buying of another
operator, however, and the rally in wheat
caused covering by shorts later, and the
close was firm. May sold between 41c and
40Aq40$c and closed 1sc higher, at 407sc.
Receipts were $50 cars, eight of contract
grade.
Transactions in oats were fairly large,
but the market, as usual, found its motives
in the actions of other grains. May sold
between 25Hn25ssc and 25&sc and closed UNI
changed at 20Hc. Receipts were 1875 cars.
In provisions the activity was chiefly in
lard, which was sold on a liberal scale.
Pork was also for sale from the same
source, and as the market received only
scattered support prices declined and the
close was rather heavy. May pork sold be
tween $14.12Ha and $14.021a and closed 1212c
lower. at S14.021z; May lard between $3.50
and S142IM7.45 As, closing 7H61Oc down, at
81. 421kM7 .45, and May ribs between $7.07h and
$70702he, with the close &c depressed, at
81 1922.
Estimated receipts tomorrow: Wheat. s5
cars; corn, 80 cars; oats, go cars; hogs,
2S.OO0 head.