The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1892-06-01
MAY CORN ON THE JUMP.
The Rise at Chicago Causes Great In
terest in the Market.
INDIANAPOLIS, Ind. I


James E. Berry's Chicago advices today were
as follows:
With the exception of May corn the market
during the week has been fairly steady
and held firm. London has declined abou
cents per bushel. Liverpool and Antwerp and
Paris 1 cent. Berlin about half cent. Freights
have declined from to cents. Cash wheat
in Chicago closes about 1 cent per bushel
higher with July about the same as last weeks
figures. We think great deal of the strength
in the latter parr OF yesterdays and todRys SEES
sion was due to the weather, the general rains
throughout the west, northwest and southeast
causing a number of shorts to protect their
contracts. There was some liberal selling by
holders around $3.50. the local trade in general
being disposed to go home as near even as pos
sible in order to enjoy the coming holiday.
Next Tuesday will be a very busy day. The
final settlement of the May contracts the pre-
MUM paid for wheat and corn. especially the
latter, will bring in very large receipts. Reoeiv-
ing houses and elevators will have all they can
do to attend TO. Should the weather be stormy
or threaten storms it will add very much to
the excitement. The outside public have been
disposing freely of their holdings of hog pro-
duct during the entire week. but the market
has absorbed all offerings and has steadily adj
vanced under the influence OF foreign and do
mestic consumptive demand. Stocks are still
firmly held by the packers and they advance
prices. SOtnb say Tue NehLucI nus DGcu 80 Dhu
farmers could not work in the fields and have
been busy dispOsng OF their hogs; others think
the roads have been too bad to market the
hogs and that the receipts will be larger.
Wheat was firmer today, while corn and oats
were firm; bran was quiet and steady.
Receipts today, cars against cars yester-
dsy
Wheat-Firmer; No. red. 1910 bid; No. ;
RED. S3c.
6Oc, white mixed. 47c; No. white. 1870
4Sc. latter for one color; No. 2yellow, 4Ic;
No. yellow, 46l6c; No. mixed, 47o; No.
3 mixed. 4615e; sound ear, 45c.
Oats-Firm: No. white. 351Ec; No. 3
white. 331zc; No. 2 mixed. $3.50 BIDS rejecIed.
Brsn-Quiet; $3.50.
Hsy-ChOice timothy, 1880 bid; No. /, s1925
bid: No. ., $1,000 No. prairie. $3.50; No. 2
prairie. $3.50; mixed $500; clover mixed, s..
Rye-No. 2, Zoo bad for car lots; $50 for
wagon.
Wagon Wheat-s6o bid.
On Market-Hay. timothy, sl2.00@14o0;
mixed S1100C91200 90; clover, S9.00G11.00; mil
let, $500; shelled oats, S0@33ci sheaf oats,
$500; corn, 45(G55c
CHICAGO, May 2s-A big jump in May
corn today caused great interest, but apparent
ly no excitement The advance amounted to
15c 8 bushel. The deal was difficult to follow.
Not from the amount OF trading however, but
rather from the lack of ii. To find out how il
going the lot crowd had to be
suited These cars of contract grade were be-
Ing sold at 75c early, and later soc was freely
paid. and even Sic was paid for car or
two Buyers were punching the car
loads into 5000 bushel lots and selling
them for May in the pit at between so and SIC.
The days receipts were 474 cars. eighty-one of
which were OF the contract grade and the esti-
mated receipts for Monday-750 .oars-are
heavy. Rumor points to Partridge Congdon.
Armour and Counselman the shorts and
COster.Martin, BartlettFrazier and K. Z,
Pratt as the holders of the deal, not for any
New York clique, but for their own individual
profit or loss, Ms the case may be. The close
was at $780, or &c from the top for the day,
against 67o last night. Other months than May
were fairy active and made moderate gains.
Opening trades were al l.@xo advance on
the weather. ana on continued buyinQ market
advanced 9sG5<c more, reacted 2Sd1c. ruled
steady aud closed with July |tG1sc higher.
Wheat opened Nc higher and prices were fur.
Their advanced sc, then settled back gale,
held steady and the closing was about 25@1Io
higher than yesterday. Trade was mostly local,
with some little outside buying. The principal
influence Was the weather, reports being
ceived OF rain in the West and Northwest. The
advance in corn and provisions helped
the early advance, aud then Monday being
holiday induced shorts" covering.
operators wishing to even up. Severns and
other elevator owners bidding for May caused
a premium OF nearly &c on July Later, as the
most urgent demand got filed M, there
general easing up. The export clearances for
the week were also less satisfactory. With
smaller exports and larger receipts the visible
supply. IL is said, is likely TO show somewhere
about 100000 bushels decrease-this being,
however, considerable uncertainty. as a number
of operators look Tor temperance OF some of
the wheat which dropped out Of the visible last
week, and others do not Oats ruled hrmer
with corn, the market being moderately active
and closing at an advance OF ~ TO 30 on re-
cent figures. A good many OF the traders who
sold freely yesterday bought today. Ii was an
active day in provisions. The market showed
evidence OF manipulation in connection with
the remarkable upturn in corn early In the
day. The scslping trade sold out very largely
yesterday on the declining market and not
few went short in anticipation OF further de-
cline. This morning il appeared that 1t was
only a shake out yesterday and that
the Cudahy people were not only holding
on to products but ready to run the market up
again. With light offerings early aud corn
higher the shorts took alarm, and with the aid
of the local bulls aud the packing interests
there was big upturn in prices. Pork was
advanced 400 over last night ribs zoe and lard
10c. all the first hour. Brokers claimed that
the Cudshy people and others said TO be work
ing with them, we're sellers on the advance.
Late in the day the market held more steady
with about half of the early advance lost.
Lake fTeights were steady with moderate
demad at 11Ic for wheat and ne for corn 20
Buffalo.
Estimated receipts for Monday: Wheat, 100
cars; corn. $50 cars; oats 800 cars; hogs, 1900
head.
The leading futures ranged as follows: