The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-01-27

The Barreled Product for May Touched
$3.50 and Closed at $3.50.
Wheat Hangs Around the 7Sc Mark with Firm
Persistence, Closing lsc Above, with Corn
and Oats in Full Sympathy.
TRADING AT CHICAGO.
Bradstreers Reported Increase In Wheat
NraE ODa


Bradstreets Reported Increase in Wheat
Makes Operators Nervous.
CHICAGO. Jan. 25.-Wheas seemingly
begged at 7Sc and pork touching SIS. SO, the
high point of the year. were the features
to-day on the Board OF Trade. Every thing
on the list closed with gains over yester-
days resting prices-wheat lso, corn lsc In
the July future, oats lsc. pork THO, lard
12l2c and ribs .O7l3c Wheat started easy,
but became firm near the close. Cables
came dull and shade lower and the Price
Current reported wheat well protected by
snow Bradstreet's report of the available
supply was the most bearish factor. The
trade has been expecting il would
show good decrease bus instead of that
it reported /, 10000 bushels increase east of
the Rockies and 134. 600 bushels decrease on
the Pacific coast, and added that one ele-
vator system In the Northwest had ac-
cumulated 4 100000 bushels during the last
month, which had not been included in
Bradstreet's totals. This left the trade In
doubt as to whether this big amount should
be added to the ], 75O. 600 bushels increase or
not, and made operators timid and bearish.
Fsrnum seemed to lead the selling. acting.
it was thought. for Wright Partridge
bought freely, and seemed disposed to
cover portion of his short line. During
the last hour the crowd began Co pay
less attention to Bradstreets report.
and the advance in provisions also
helped wheat some. The opening was
about 40 lower than yesterday. advanced
Ac. the market touc hing the closing figure
of yesterday. then declined $50 or 10 the
lowest point reached yesterday. at which
the market received considerable support
in a speculative way then improved again
lac. ruled steady and the closing was about
$50 higher than yesterday.
In corn first trades were fraction under
the final figures of the previous session and
upon moderately free offerings. sold off L4c,
the receipts overrunning the estimates,
and weather being bright and favorable to-
gether with the action of wheat. making
the local trade take the short side of the
market. Prices afterward rallied IS lac
in sympathy with wheat and provisions
and finally closed with a slight gain.
An effort was made in the oats crowd to
force prices lower by bringing ont stop
order holdings. At lac decline the demand
improved, and there were many orders at
342c for May that brokers were unable TO
fill. owing to the limited Offering Prices
reacted Il o and the market closed quiet.
At the opening there was every indica.
tion of q heavy and lifeless market in pro-
visions. Before the close of the day lard
was run uD to about the highest point of
yesterday. when Bloom cepitulated, and
pork sold 2hc over the high point on the
sensational advance three weeks ago. The
hogs for the day were $4,000. causing an
easier feeling early. Estimates for Friday
were but 10000. and again started the
buying. 1t was given out by the wise ones
In the pit that Armour has the pork and
Fairbank the lard. and that prices will 90
Just where they wish to put them. For the
day the buying of pork was led by s. l..
Dunham, who took bout 10000 barrels
Floyd bought heavily as q scalper. In lard
the Hateleys SIMPLY stopped selling, and
the shorts put the price up very quickly.
Ribs again moved mp less than other prod
ucts. Provisions closed strong at some
thing under best prices
Estimated receipts for tomorrow are:
Wheat. 230 cars; corn. 300 cars; oats. 1872
cars; hogs. 10000 The leading futures
ranged as follows: