The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-03-10
YIELDED TO THE COLD WAVE
Chicago Wheat, After Several Days of
Depression, Takes an Up-Turn.
The Bear Forces Mostly Became Buyers. Lock.
ing for Good Chance 10 Scalp, and the
Price Rose &c 50 lac for May.
TRADING AT CHICAGO.
All the Pits Affected by the Change In
Weather Yesterday

All the Pits Affected by the Change In
Weather Yesterday
CHICAGO, March 9.-An the surround
ings of the market to-day were decidedly
bullish, and May advanced fully &c from
the low point touched yesterday. Proba-
bly, the most bullish influence of the day
was the weather. The signal service re-
ported cold wave advancing from the
Northwest, where the thermometer was in
the vicinity of zero and binding blizzard
was said to be raging. This reminded the
trade that March was always a PREACHER
Gus month, and made the bears ex-
tremely nervous Other strong factors
were the firm cables ard the decided
strength shown in all domestic markets,
and foreigners were said to be quietly buy
ing at the seaboard and prospective export
engagements were encouraging to holders.
The speculative feeling was bullish.
Shorts were feeling more uncertain Of
their ground and showed general desire
to cover. There were liberal buying orders
from New York. while Logan. Schwartz
Dupee, Broseau and Milmine- Bodman
were generous buyers. 1t was believed
that Armour's brokers were picking up
large lots of wheat and n. b. Ream was
also doing a good business on the buying
side. The selling was partly by the pro-
feesional buyers led by Partridge. and
partly by longs who were disposed to real
ize profits. Bears got some encouragement
from larger receipts than were expected.
and the big deliveries in the
in tho Southwest. 1t was also
claimed that the cold wave would work
east without reaching into the Southwest.
The volume of trade was fair but not very
large and the price changes limited to a
comparatively narrow range. The avail
able supply as reported by Bradstreets in
creased 2SS, 900 bushels east of the Roc kies
and decreased LOCO bushels on the Pa
chic coast, the net increase being 1871 600
bushels. The price of May around the
against SS1ec at the close yesterday; settled
at S9lsc, advanced to S9lec again, reacted
to $3.50 during the last hour on sales by
longs. who had profit in their deals. then
shorts who feared to leave their trades open
over night In view of the threatening
weather. advancing to S9l5c again, and the
close was firm at 69Ac.
Corn was quiet and q trifle frmer, but
very STEADY, the fluctuations covering a
range OF only Ac. Trade was slow. and
the slight show of strength was due to the
better feeling in wheat. The receipts were
fifty cars smaller than estimated. the
close shows q gain of sc In values.
Oats were quiet, but firm in sympathy
with wheat and corn, and the smaller re-
oeipts, and closed lsc higher.
Hog products were lower at the start,
but soon grew strong. and advanced sharp
| ly as the receipts were larger than eX-
pected, and prices at the yards 10c lower.
The advance was partly in sympathy with
wheat. and partly on covering by shorte.
who got somewhat frightened by the lib
| trader. May pork. which opened SC of. at
| e11.05. sold at sll.02l2, then advanced to
| Sl1.221a. but weakened toward the close,
| and closed at S11.17ls. gain of 719c. Lard
| closed unchanged. RIBS are .U2l4c higher
Estimated receipts for tomorrow are:
Wheat. 162 cars; corn, It's cars: oats, 105
| cars; hogs. 80. 900 head. The leading futures
| ranged as follows: