The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-05-09
WHEAT STARTS UP AGAIN
General and Firm Reaction Set in at
Chicago in All the Trading Pits.
Russian War Talk, Bad Weather News, For.
eigners Buying and Decrease in the Esti-
mated Visible Given as the Cause.
TRADING AT CHICAGO.

Wheat Gains 8. Cent, Corn lis Cent, Oats
IS Cent and Pork I2la Cents.
CHICAGO, May IA rigbt-ebout- face up
turn in prices, with light trading, were the
features. to-day, on the Chicago Board of
Trade. Compared with last night. wheat.
after It's long decline. made an advance Of
lac. and tonight shows q net gain of $40.
Corn Is Use up. oats Sc and pork 12l2c.
The irmness was mainly attributed to war
talk. it being reported that the Russians
were massing troops on the Austrian from
tier and the preparations were more war
like than for some time. The weather, too.
turned colder. with snow in some sections
of the Northwest, and this had some effect
on the market. The receipts for tho week
at primary markets were about the same as
last week. while the exports were larger.
From both coasts the exports of wheat and
-four were about zoe. 600 bushels larger. and
from the Atlantic exports of wheat were
279, 600 bushels larger than the preceding.
Bradstreets reported that the available
supply In Europe, af1oat and in the United
States was 81. 600. 600 bushels larger than
year ago. and also that there had been
decrease In the sup plies of 80 100000 In four
months The fact that Paris and Berlin
quotations were lower notwithstandinGt the
bullish news caused loss of 12c from the
top prices. The feeling at the close was
steady. Pardrid2e was SAID to have been
q good buyer of July around S2isc. Late
signal.service reports indicated that more
rain was probable in the Northwest. A
decrease in the weeks visible, it is said. OF
accepted az bulllsh. The improvement in
the condition of winter wheat. reported 10y
the State boards of Kansas and Ohio. lead
some to expect an advance in the general
estimate to be furnished by Dodge Oh Tues
day. That, however. is by Others pro-
nounced q rather unsafe assumption on the
ground that if private advices from Cali
fornia are borne out by the official figures
there has been enough deterioration there
to more than cOunterbalance the better
ment in Kapsas and Ohio.
There WAS much nervousness In corn all
day and the price kept climbing slowly.
Receipts were under the estimate at 1oO
cars. Grading gets worse instead of better.
with but ono car of contract corn to-day.
Cables were biGher on corn. While lower on
wheat. Export clearances for the week
were sc. 900 bushels more than last week at
600 bushels from Atlantic ports and
this. the weather was little improved over
the corn States, and there were reports of
further rains in Minnesota. Nebraska ana
elsewhere. The cash market responded
first, and lots of No. grade sold during
the morning at 1c over yesterday.
The strength In corn and unfavoraole
weather in the West. together with good
buying of May by Harry Wadhams, who
was undoubtedly covering shorts, CON-
bined to make oats firm and higher.
The provision market opened strong in
sympathy with the higher prices for corn
and wheat. There was some realizing and
a reaction from the opening prices but the
market firmed up again toward the end OF
the session and closed strong at the best
prices of the day.
Frelghts were slow with light offerings of
boats. Rates held steady at &c for wheat,
and la @ for corn to Buffalo.
Estimated receipts for Monday are:
Wheat, 100 cars; corn, 220 cars oats. 100
cars; hogs. 81 900 head. The leading futures
ranged as follows: