The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1892-05-08
WHEAT STARTS UP AGAIN
General and Firm Reaction Set in at
Chi cago in all the Trading Pits.
Russian War Talk, Bad Weather News, For.
eigners Buying and Decrease in the Esti-
mated Visible Given a. the Cause.
ID At CHICAGO.

Wheat Gains b Cent, Corn 1ls Cent, Oats
O. Cent and Pork 1ela Cents.
CHICAGO, May IA right about-faceup-
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 1sc up. oats sc and pork 12l9c.
The firmness 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 the 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 1000 O bushels larger, and
from the Atlantic exports of wheat were
5000 bushels larger than the preceding.
Bradstreets reported that the available
supply In Europe. ahOat and in the United
States was 81. COO. 600 bushels larger than q
year ago, and also that there had been y
decrease In the supplies of 80, OOO, 900 in four
months. The fact that Paris and Berlin
quotations were lower otwithstanding the
bullIsh news caused q loss OF &c from the
top prices. The feeling at the close was
steady. Partridge was said to have been
q good buyer of July around S2lsc. Late
sIgnal-service reports indicated that more
rain was probable in tho Northwest. A
decrease in the weeks visible, it is said, of
under 1900. 900 bushels is not likely to be
accepted as bullIsh. The improvement in
the condition of winter wheat. reported by
the State boards of Kansas and Ohio. lead
some to expect an advance in the general
g. h H-rthA hr n~1~a an T,Aa-
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 Kansas and Ohio.
There was much nervousness in corn all
day and the price kept climbing slowly.
Receipts were under the estimate at 1SG
cars. Grading gets worse instead of better,
with but one car OF contract corn to-day.
Gables were higher on corn, While lower on
wheat. Export clearances for the week
were SIC. 600 bushels more than last week at
2.47S.O0O bushels from Atlantic ports and
liberal from New Orleans. More than all
this, the weather was little improved over
the corn States. and there were reports of
further rains in Minnesota. Nebraska and
elsewhere. The cash market responded
first. and lots of No. 3 grade cold during
the morning at lie over yesterday.
The strength In corn and unfavOraDle
weather in the West. together with good
buying of May by Harry Wadbams, who
was undoubtedly covering shorts, COM
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
q reaction from the opening prices. but the
market firmed mp again toward the end of
the session and closed strong at the best
| prices of the day.
Freights were slow with light offerings of
boats. Rates held steady at &c for wheat,
and Fac for corn TO Buffalo.
Estimated receipts for Monday are:
Wheat, 100 cars; corn, 22O cars; oats. 100
cars; hogs. 1000 head. The leading futures
ranged as follows: