The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-04-07
WHEAT BACK TO so CENTS
The May Future Shot Lac Above That
Figure and Then Closed at 20 1.2c.
There Vas Very Little Fuss Made BY the Genus
Bear, While the Price at Chicago Ad-
yanced Nearly &c from the Opening.
TRADING AT CHICAGO.
Upturn TN Wheat Caused by u Heavy d.
mand for the Cash Article.

Upturn I'm Wheat Caused by Heavy De-
mand for the CasI, Article.
CHICAGO, April 6.-Soalpers stood no
show to-day with tho bulls on Change.
Wheat recovered nearly &c from m early
dip and closed with good support. To-
night all leading articles on the list, as well
as wheat. exhibited firmness The market
started weak and a little lower under the
influence of lower cables and very flat
tering report on growing wheat from Sec
rotary Mohler. of the Kansas bureau. The
Kansas report gave the acreage 81, 600 short
of last year. with the condition improved
from IS to IS. The foreign news,
IL anything, was more bearish than
heretofore, as Liverpool was quoted
lower. Paris weak and other CONT
mental markets heavy. with the weather
favorable. But domestic markets all
seemed to show a good deal of strength.
Notwithstanding the favorable crop situa-
ton. Bradstreet's showed a decrease of
100000 bushels In tho available supply on
both coasts. but in view. of the large de-
crease reported last week in the private
elevators in the North west-1.e7 900 bush
els-and the $780, 900 bushels decrease in the
published visible. the report was somewhat
Disappointing Perhaps the strongest feat
ure in the market was the demand which
existed for cash wheat. including No. Q
spring. for which there was u ready sale at
May prices. AS the market began to show
Its strength the covering of short wheat
became quite brisk and helped materially
TO promote strength. May opened at about
7SAc, sold at 7Sl207S4sc, split. then mp
gradually to S0llc and at IL O'Clock was
ha m 81 ha-
came weak on the free selling caused by
the advance and the demand fell of. Most
OF the shorts ran in on the early bulge.
Late cables were a little perplexing. Liver
pool being stronger and Berlin higher. with
London and Paris both lower. May, after
selling mp to S0l4c. broke gradually TO 79ssc.
at which price it held stoady and closed.
Undoubtedly the main reason for the al
vance was the demand for cash wheat for
shipment. One firm worked 50.CC0. bushels
and another 10000 bushels. That much ia
known. but rumors swelled the quantity to
great deal more, and T. ID. Armour was
reported TO have said that he could have
sold 1.0O00O0 bushels regular No. at tho
May price. He may have made no snch re-
mark, bnt 1t 10 fact that many were
offered May contracts to-day In exchange
for cash wheat and but few responded.
There was good inquiry for vessel room
TO load wheat and corn, but little business
was done. shippers trying to get the rate of
ga on wheat and 2lhc on corn to Buffalo
shaded. while vessel-owners refused to
bulge.
There was q rustic In the corn-pit during
the first and last five minutes of the ses-
sion, but with Quietness in between. 1t 10
said that unquestionably large short in
terest exists. and in view of the tirmness in
wheat and the rumOrs of manipulation,
there was considerable DISPOSITION to cover.
May opened lsc higher, at 3Jlsc. and i'm
proved gradually md steadily to z0sc. At
IL o'clock it was about 40Ac. The closing
was ut sOlsc sellers.
Oats were traded in literally and prices
ranged higher early. but later weakened,
and the close was steady with prices at a
slight advance over Mondays close. The
strength came mainly from wheat and
corn.
Hog products were generally weaker on
the liberal receipts of live hogs and the
lower prices at the yards. The selling was
free. but the subsequent Improvements in
grain checked the downward movement
Ryan was good buyer of pork ana the
Anglo-AmerIcan sold lard.
The estimated receipts for to- morrow are
Jos cars wheat, go of corn. 135 of oats and
$1,000 head of hogs. The leading futures
ranged as follows: