The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-03-27
NAY WHEAT is STRONGER
Caused BY a General Clamor to Buy
the. Month While Selling July.
Any Considerable Buying Order for the Nay
Future Invariably Starts Rush to Cover
and the Prices Begin 10 Run Up.
TRADING AT CHICAGO.

Provisions Were Firmer on Light Hog Re
ceipts, with Little Doing.
CHICAGO. March 25-Wheat to-day
was strong for May. and barely steady for
July. While the former closed 1c higher
than on the day before. July closed $50
lower. The number of buying orders for
May sndSseIling for July was the great
'featureiofs the days business. Corn had a
sharp break, and at the close showed loss
of Vac in the May delivery and asc in July.
Provisions were frmer on light receipts of
hogs. The feeling IN wheat was rather
nervous. For Mey delivery prices ruled
higher. the opening being about the
same as yesterdays closing. receded
4c, held steady and closed lac lower
than yesterday. The July delivery
sold at 405l9c discount, as compared
with May prices. The reason assigned for
the action of the market was the Gov ering
for May delivery and the selling for July,
in which movement some Of the operators
in the Northw est were particularly inter
ested. 1t was claimed that o number of
buying orders were received for May deliv-
cry, and that there was very little wheat
offered. and the filling of q buying order
for ~. 900 or so. 900 bushels would create 80 a
lac riso in prices. Around 7Sc for May there
was activity which checked the advance
for the time being. Many dealers have
stopped trading In the May future. and 1t
Is not 30 easy 10 execute the orders as It
was a week or so ago. The receipts con-
tinued TO keep up both III the Northwest
and here. aud there was about 80 per cent.
of the local arrivals contract IN grade. rep
resenting largely wheat coming from pri-
vato warehouses. Export clearances were
larger than they have been of late. while
m n
liz Is estimated that the visible supply Will
show a decrease of $50. 600 TO 500. 900 bu. Crop
adyices continue somewhat mixed. ana
were not having much effect on the market
The pressure of cash stuff TO make room
for wheat constituted q chief element OF
weakness in corn. especially as shipping
houses claimed they could not protitably
place the grain even at o considerable re-
bate offered by elevator concerns. With
| the cash situation unfavorable for holders
few traders were friendly enough to buy
| for Investment and the demand was chiefly
| from the shorts. AT one time there was
| something of O selling effort on the part of
operators from the wheat pit. and this.
coupled with the unloading Of Long" stuff
carried the price down IS l0Ac before there
| was effectual check. The close was
| within kc of the bottom.
There as a liberal trade In oats and q
lower range of prices, due to increased
| offerings and also 10 sympathy with corn.
| There was no especial support except from
scattering shorts and prices after opening
/ about the came as yesterday declined 15O
| a4c, rallied slightly and finally closed easy
| with q net loss of Nc.
Trade in provisions was very light.
| After the first half hour of the session
there as scarcely nything doing Some
strength was developed at the opening on
| few outside buying orders coming In and
| several prominent commission houses taxi
| ing the otfering s. which were limited. The
advance was moderate. and firm feeling
,tad ha m m I'd Ia
| market gaining all around. There was
some covering by the shorts toward the
| CLOSE. Final pricee. compared with last
night. were 12lhc up for pork. .10c for lard
and ESQ for ribs.
Estimated receipts for Monday are:
Wheat. $50 oars: corn. 1G0 cars; oats, 100
cars: hogs. $4,000. The leading futures
ranged as follows: