The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-31
WHEAT PRICES DECLINE
ON LESS wARLIKE NEWS SMALL
HOLDERS TOOK PROFITS.
Armour Gave the Market some sup
port, but Not Enough tn Keep
Prices Up-ProvisiOns Weak.

CHICAGO Jan. 3o.-The less bellgerent tone
OF news Of the Orient was the main feature in
the wheat pit to-day. Small holders took profits
causing decline Of nearly cent In both the
July ana May deliveries. Some Of the loss was
regained. but the close was weak, with May
SAKE below last nights final figures. May
corn closed AqHc lower. Oats were up &c
Provisions were 7izc- TO SIC lower.
The leading bull operator supported the wheat
market breaks early in the day. and there
was also scattered buying from the commission
houses, but the demand not nearly 50
urgent it has been recently.
In the face OF higher prices at Liverpool OPEN
ing quotations here showed losses May being OF
a shade to Ease. at 9oasa9osse- July opened
sake 10 Aa'se lower at s2'sc 70 S27sc.
PRICES GO LOWER
Local holders were inclined 10 dispose OF their
lines and IN spite Of moderate buying by the
Armour interest prices began TO seek a lower
level. May declining to 9S5sc and July To oSsc
within the first half hour. Trading was Of
dragging character the greater part OF the day.
The market exhibited renewed signs Of life 81
one time. when on report that the big holder
was selling July. quite general liquidation in
dropped 10 SIC and May sold OF in sympathy 20
$50 Late in the day irmer feeling was
manifested on less pressure 10 sell. but the inn
proved tone was only temporary.
Renewed profit taking and evening up sales
vail al the nnish. A less bullish cash situation
in the Northwest had a depressing influence
speculative trading here. and May closed Antzc
lower at S0iac, while July was down AeSse. ar
b2l.c
CIearances OF wheat and flour were equal to
39A, 700 bu Primary receipts were SO, 100 bu.
against 500 bu year ago. Minneapolis, Du-
luth and Chicago reported received 2A3 cars,
against S13 cars last week and S52 year ago.
CORN PRICES DECLINE.
Corn prices declined slightly in sympathy with
wheat and on selling credited TO a leading pack
er. but taken as a whole. the market was a
steady Cables did not respond TO the ad-
vance here yesterday, and there some profit
taking on the improved prospects for peace.
Commission houses We're the best buyers The
close was steady. with May kaLc lower. 81
59lsc, after opening shade lower 10 shade
higher TO 50is 0502sc and ranging between zoe
and 59ssc- Local receipts were rs cars, none Of
OATS FIRM
! The strength I'm cash oats more than Offset
the influence Of the easier tone in wheat and
the market ruled firm throughout the day. Trad
| ing largely by commission houses After
I opening unchanged 30 &c lower, at sac 10 sSc
! May sold between i2Ae and 43i4e, closing "a
/ 43lsc Local receipts were "a cars.
! PROVISIONS .,.CLINE.
Liquidation by commission houses and selling
credited 10 packers caused weakness in proy1-
sions. A late decline in the price OF hogs added
to the depression. May pork led the decrease
was OF l2lzc. at $3.50, while ribs were down
| 7lzQl0c. at S6.e0a6-6z
/ Estimated receipts Monday: Wheat, 30 cars;
corn, $50 cars: oats. 100 cars; hogs. 1000 head.