The Indianapolis journal., 1893-05-09
WHEAT CLIMBING UP AGAIN
Pardridge Turns to Buy and Gathers
Together About 6,000,O0O Bushels.
Seems 10 indicate Higher Prices. if Not
Soon, at Least for the Future Months.
TRADING AT CHICAGO.

Corn and Oats Declined, but all Lines of
Provisions Made Advances.
CHICAGO. May s-There was an enor-
nous business done in wheat to-day at from
lac to lac advance on SATURDAYS closing
prices Partridge took large amount on
the strength of the news both foreign and
domestic. and took In short wheat W hoiesale.
One estimate puts his days purchases at
from 5.000.OO0 to 6.000.0O0 bushels through
bis own house and other brokers. Cudahy
was q big seller of September wheat and n.
y. Reain, Singer and Cbamplin fed July out
lavishly. Leeming of Partridge ~ Leeming.
was surrounded By a crowd of brokers just
alter the session was officially closed and
raked In their Offering in $1,000 -bushel and
5000 bushei lots at the price given at the
closing. 7Sisc. which is $50 higher than the
latest price on Saturday. The wheat
shorts seemed thoroughly fright
ened and investment buying was
quite pronounced. Cables all came
higher and domestic markets were all
strong. Crop conditions abroad were rep
resented as growing worse from day to
day, and the Kansas State report seemed
to confirm all the gloomy reports hereto
fore received from that region. and indi-
Gated q crop OF less than thirty million
bushels, against seventy one million BUSH
els last year. The bullish sentiment has
been growing for some days, and the
temper of the trade was IN the proper con-
dItIOn to be easily influenced by these re-
ports, and Notwithstanding the better
financial feeling in Wall street and reports
of warmer and better weather in the North
west, prices made a big Jump. Later,
rains were reported in France and IN Hum
gary. and there was generous realizing
which sent prices OFT nearly lc. but the
feeling kept nervous. The big decrease In
the visible and strong continental cables
acted as check to the decline. The tone
at the close was easy. The opening was
about 7s0l4sc higher shan Saturdays clos-
ing, advanced l2c more. then declined ll2c.
fluctuated and closed about 4c higher
than Saturday for July aud ssc higher for
September.
The decline in corn was largely due to
continued free realizing. The tone at the
start was firm and the initial trades were
at about Saturdays final quotations, but
the large sellers of Saturday again dis
posed of large amounts on break OF 3 0
s4c. Later on the prices worked mp 80.
ruled weak, and closed with decline of
1O1lsc. Receivers were also on the selling
side. offerin gs In the interior. lt Is reported.
increasing Y considerable of late. The wealth
or. while wet in many portions of the corn
belt, was warmer, and crop conditions
were saId to be more favorable.
There was o fair trade and weaker mar
ket almost from the start in oats, tho eariy
prices being the highest and the closing
about the lowest with net loss OF - "a
l1ao. May declined Sc, June lac. July
lac and September 1c from the top tg-
ures.
Provisions were primarily excited and
higher on the steady advance of live hogs
at the yards, but really from the fact that
mess pork for September delivery is to ell
intentsand purposes held by few parties.
1t is said that there are only
few scattering shorts. prin-
cipally among the local crowd. and every
time there is an attempt TO buy the mar
brought out some realizing orders and the
market sagged moderately. 1t then ruled
steady and quiet for time. On some sell
ing by prominent operator the market de-
clIned and nearly all the early gain was
lost. As soon. however, as the offerings be-
came scarce the market rallied to the early
outside price. and ruled strong and higher,
then dropped closed weak with a little
more than half the early advantage lost.
The final prices compared with the close
Saturday show q gain of 51t for SeDtem-
ber pork, soc for September lard, and .17l2c
for September ribs.
Freights were dull. the bulk of the busl-.
ness being done by the line boats. Rates
remained unchanged Estimated receipts
for tomorrow are: Wheat, so cars; corn,
1S5 cars; oats. 325 cars; hogs $4,000. The
leading futures ranged as follows: