The Indianapolis journal., 1891-04-03
Wheat Makes . Slight Advance, In which
Other Ceraala and Proyisiona ticiunfad.

Wheat Makes Q Slight Advance, In which
Other Cereals and Provisions Participated.
CHICAGO, April "A heavy demand for
cash wheat and state of affairs abroad,
as shown by the tone of the cablegrams,
which plainly indicated serious apprehen-
sions regarding supplies spreading in
England, made it easy to advance the price
in spite of the determined efforts of many
heavy sellers TO prevent it. May wheat
opened firm at 81. .O4lo and closed strong at
s1.05 bid, or about 1c improvement on the
price current at the corresponding time
yesterday. Corn was steady to firm. in
sympathy with wheat. aud gained a4c
Provisions. after weak start braced up
and closed firm at the best prices of the
day. While the foreign news was
mainly responsible for the advance
In wheat, local influences also made
weather was disquieting to the shorts,
and those of them who trade on the princi-
pie OF submitting TO only small losses were
the principal buyers From S1.O4la May
heavy selling orders at the latter price and
fell back slowly to Sl.O414.- The trading
was only brisk in spots. and the f1uctua-
lons for long time were confined within
comparatively narrow limits, the figures
already quoted marking the extremes dur
ing the first half of the session. Bull news
vas crowding in over the wires, but every
bulge was met by heavy offering from the
bear contingent, headed by Ream, Linn
and, it was said. Cudahy and Pardridge
also. The taking of considerable lines of
spring and winter wheat from store here to
go East by rail-. so close TO the opening Of
lake navigation. was the cause of a further
desire to buy on the part of the shorts.
There was an advance on this to Sl.05, and
the reaction from that point did not carry
the price below sl.04i2. and that was fol-
lowed by another bulge and g jump to
$i.o5ls New York reported twelve
bost-loads of wheat worked for
Lisbon. Minneapolis millers were
bidding Is advance on patents. The clos
ing cables reported Berlin lower for wheat
don was Sd to 4l2d per quarter higher.
Paris advanced 10 centimes on wheat
and centimes on -four. The damp
weather ana light receipts were fa-
vorable to holders of corn. but prices were
maintained with difficulty early In the day,
owing 10 an apparent Willingness to sell on
the part of some of the firms who were
identified with the bull clique during the
previous heavy advance. The opeuing for
May was Csc. and IL declined TO 67l.c and
advanced again. striking 6Sl2c for a mo-
ment. Considerable excitement was occa-
stoned In oats by a dispatch from Frank
Ryan. OF st. Louis. to w. q. McCormic. 1t
reported a corner and an advance In Nav
from 53c TO CSC &c of which was subse-
Quently lost. The market attracted large
attendance of traders. and was excited but
not particularly active.,- May started at
Alac. or $50 above yesterdays closing. and
sold TO 53osc. hardening to 500 on the
strength OF the aforementioned dispatch
lt reacted TO 54i2c. but recovered. and
closed firm and 1lsc higher at 55e A bliz-
zard which was reported To be raging in
Nebraska helped the advance. I he proyis-
ion market immediately at the start was
favoring lower prices but after mo-
mentary drop there was q sudden bulge.
followed by another weak spell, and that,
In t1rn. by an advance. which left the
prices at about their best as the market
csme to close. May pork closed Sc higher