The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1892-05-11
A RAGGED DAY.
The Chicago. Spectators Experience
a Varying Market.
INDIASAPoLIs, ND.

flONDAY EVENING, May 9.
l.. w. Louis Co.'s Chicago adyices today
were as follows:
Nearly everything which has tendency to
influence the minds Of the ordinary spectators
seems TO be against the holders and in favor of
the short seller
All foreign markets are reported lower, some
very slight changes others like Berlin quite
material change. 1t is again reported that
Russia Will remove the restriction on the ex-
portation of wheat Cash wheat in New York
has been very much depressed, ranging fully
cent lower than Saturday and about \ cents
lower than for July delivery.
The state agricultural reports are coming in
more favorable 20 the growing winter wheat.
Illinois today is reported eight points higher
than a month ago. Reports far received
would indicate that the government report will
show quite improvement in winter wheat.
but the condition of spring wheat must neces-
sarily be unfayorAble. About the only report
OF bullish nature was the cold, wet and back
ward condition in the West and Northwest,
These influences are having a more favorable
influence on corn than on wheat. Ii not only
makes late planting, but prevents farmers de-
lveries. The available stocks are becoming
very much reduced, but notwithstanding the
bearish port wheat closed about a half cent
higher than Saturday.
The short sellers Of corn and oats are not
having q very fowery time of II and while we
would advise great caution about buying on
stormy days and o sharp advance like the one
we had today, yet il appears inevitable that we
must have more corn before we can have any
lower prices At just what prices and what
conditions the country roads will be required
to be in before a liberal movement begins is a
problem for the speculator to determine before
making his trades.
Under a good domestic and foreign demand
the provision market appears very firm with
an advancing tendency. 1t Is probable that
speou ators are Influenced somewhat by the adj
vance in cease grain. Prospects OF light corn
crop are always a great inducement for the or
binary trader in pork.
The wheat market was strong today with
good demand while corn was very firm and
wanted. Oats were firm with good demand
under light receipts.
Receipts for the past twenty-four hours.
car against n total of 2 cars Saturday.
Wheat-Firmer; No. red, 500 bid; No.
red S3llc bid.
Corn-Firmer; No. 1 white, 44c; No. white.
44c bid; white mixed. 41I5c; No white, 4i(D
die latter for one color; No. yellow Al 10;
No. yellow, Ale; No. 2 mixed, 4lHo bid;
No. mixed. Ale bid; sound car $50 bid.
Oats-Firmer: No. 2 white. SIC bid; No. 3
white. SOC; No. mixed, 29}4c bid; reieoIed,
2619G927c.
Bran-Quiet; $3.50
Hay-ChOice timothy, 25; No. 1. S11.75
bid; No. ,, $3.50; No. prairie. $3.50; No.
prairie $3.50; mixed, $50; clover mixed, S.
Rye-No. 2, 700 for car lots; 600 for wagon.
Wagon WheAt-S7o bid.
On Market-Hay, timothy, sl2.00@1400;
mixed. $l0.00@l2O0; clover, Sg.000ll00; mil.
let. 800; shelled oats. 3og3Sc; sheaf oats,
$500; corn, 44Cg46c.
CHICAGO. May 9.-Eyery storm out West
had counterpart cyclone today on the
Chicago board of trade. Excited spectators
and ragged prices were the result Wheat
started with strength enough for a &c advance
but left off with n modest Ne gain on Satur-
dayia cloefng Corn did eNagfly "a Of
wheat. IL had even wilder lightning and
jumped up and down ike mad, the total adj
vance being 215c, but the closing within
&c OF the top. Pork went skyward l7lsc. In
wheat the bullying was attributed TO the un.
reasonable weather all over the country, but
particularly in the Northwest where
cold, wet and snowy weather has de-
lnyed seeding and the season is late.
The wheat market may also have worked IN
sympathy with corn. The visible supply also
showed another big decrease. Early IN the
day much larger increase than reported was
calculated upon and this helped the market
some. Later the market eRsrd of on free spec
ulatiye offerings. influenced some by more
favorable reports OF the growing crop in Cali
fornia. Illinois and Michigan. A report cred.
tied to the New York Ma and fr IcSs, saying
that in few days Russia viii issue edict
permitting the export of wheat, and that the
exports OF corn and oats ia already permitted,
helped 10 increase the weakness There was
an impression also tuuk DouEt y ftVNft AHt
tomorrow afternoon, would show an improve
ment in tho status OF winter whea'. July opened
80 NJ at $3.50. sold To $3.50, 20 Sjs<c to SIZE,
TO $3.50, to S3Hc. closing at $3.50
bid. The rally at the close was
due 10 the fact thnt the latest dispatches
from the Northwest aud Southwest showed on
improvement from the drenohed condition Of
the whole wheat territory. For corn % was al.
N ost a case Of buy it first nnd inquire the price
afterward. May, which on saturday closed NJ
4l3tc, was being excitedly bid Tor at Acc and
with none Tor sale under 47c. SDme few snles
were recorded at IS high rs age aud good
many az a. &c. In July sales took place SIM
ultnneously at the opening aud from 42l4c up
10 43c, aud ia second or two bayers were
\ entifui no 434c. From the latter price mp 90
A. C took only about five minutes OF exciting
trade. The nervousness generated kept
the Dit upon the boil throughout the
session. IL was weather mar
ket pure and simple A continuation of
present conditions would, ~ was said. un-
doubtedly cause further advance, and on the
other hand. a week OF bright, clear, warm
weather would be likely TO cause lively dump
ing OF long stu, Firm cables aud the decrease
in the visible, 81 course, confirmed the builish-
ness. IL was 90 inored that elevator companies
along the railroads had discovered that much
corn intended for May contracts had been so
dappened by the late excessive moisture that
il shows signs OF mold, and will under no cir
cumstances grade contract. July opened
clear 20 up al 1910, sofa 10 4iNo' reaoleu 10
$50 up TO 44l4c To 43Jsc to 4i9so, 10 1870,
10 4ic. at which il closed. Oats advanced with
the other grains on the bad weather reports,
the market ruling about &c higher early In the
session but subsequently weakening. the close
was ~ over Saturdays figures. Trade was
active. especially in the opening. when country
orders poured in. The provision market started
strong at slight advancein sympathy with the
bullsh selling In all grain markets. When n
very sharp advance in corn followed provisions
made a further gain. There was some buying
by sea pers who thought general advance
might be in order Packers aud others inter
ested in establishing higher range OF values
helped bid prices up. The chief influence was
higher priced corn Lard and ribs each al
yanced Toe, closing at the highest. Freights
were quiet aud easy AT 20 for wheat aud 1910
for corn TO Buffalo and 100 for corn to Port
Huron. Estimated receipts for tomorrow;
Wheat. 1875 cars; corn, 800 cars; oats, 25i oarsi
hogs, $4,000 head.
The leading futures ranged as follows;
Articles openins.l Highest Lowest Closing.
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