The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-04-20
FURTHER DECLINEIN WHEAT
May Touched 734c Yesterday and Closed
Within &c OF the Bottom Figures.
The Clique Busily Engaged in Cutting Down
the Premium of the Near Month Over
Juy. Which Now Stands at 114c
TRADING AT CHICAGO.

Corn Bearish, but Provisions Were Strong,
Pork Gaining 3Jc.
CHICAGO. April 19.-For the first time
in months the May price of wheat to-day
was the same here as at New York. An
other notable feature was that May aud
July sold within 14c Of each other. Corn
and oats as well as wheat were apparently
working in the direction of getting carry
ing charges between May and the more dis
tant futures and were weakest for the May
future. Provisions opened firm and closed
strong at considerably higher prices. Wet
weather over O considerable area of the
winter wheat belt and evident manipula-
ton with q view to bringing the May and
July futures into their natural respective
positions in the market started wheat
weak. The clique sold puts on July freely
on the curb yesterday afternoon and
was buying Oh the breaks to-day. IL was
rumored that it has made private settle
rnents since yesterday on the basis of CIV
ing May in exchange for July at 1lec per
bushel discount If the rumor be correct
the exchange was profitable one Tor the
clique. Speculative interest was confined
more and more as the day wore on to the
probable action of the bull clique In the
near future. The signal service report at
noon indicated cold weather, with freezing
in some sections over the wheat country
This did not influence the trade. nor did
Bradstreets report of decrease of 2, 4gO. 600
bushels in available stocks. May wheat
opened Ao lower and prices further de-
clined lac, ruled steadier. and the closing
was easy, 40 from inside figures. July
future opened lac lower and declined 40
more. tbcn advanced ssc. again weakened
and solo Oft asc, ruled steadier at "a &c from
the bottom for the day.
In corn the temper OF the crowd was
rather bearish. influenced manly by
wheat. The principal feature was the
widening of the premium of July. the free
selling of May and buying of Jnly, making
the difference at one time 3 O2c. There
was o slight rally after the frat break on
| covering by some of the local shorts, and
at the close May showed q loss of ESQ., while
July was about &c lower.
There was a large trade in oats and q
| lower range of prices. The feature was the
| liquidation in May, which caused re.
| action from yesterdays close of 20, and
the finish was at nearly the bottom.
An idea prevailed in the provision pit
that there was covering of stuff going on
| yesterday. The hogs were posted ct q, coo,
| and. although this was O liberal supply.
both packers and Shippers reported
| good buyers ut 0l0c advance Later there
was good buying of pork by Logan and
| Steever and Schwartz. buying OF ribs by
| Harvey, Swift and Norton w or tn ingtoD.
| The close was strong at about the best
| prices of the day, with September pork
showing a gain of $50 over last night, Sep
| tember lard .07i2c. and ribs .12lfc.
| Estimated receipts for tomorrow are:
| Wheat, 80 cars: corn. 100 cars: oats 49,
| cars; hogs $4,000. There was a light de-
| mand for vessel ROOM and rates were lower.
| Charters were made early at la for wheat
| tn Buffalo. ana later boats were offered at
| 1l9c. Corn at lac and oats at lsc. The
| leading futures ranged as follows: