The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-05-07
CHICAGO MARKET STRONGER
Wheat Surprises Operators with a Boom
the Closing Price Being &c Up.
At the Same Time the Corn Market Was Act
i've Fluctuations Coming Fast. Within q
Comparatively Narrow Range. However.
TRADING AT CHICAGO.

Provisions were Higher from the Opening.
Pork Scoring q Gain of 5sl2c.
CHICAGO. May 6-There was Q boom in
wheat to-day, the market bordering almost
on excitement. A fair speculative bust
ness was transacted. and the feeling devel-
oped was stronger and prices showed q
further advance. the closing being &c high
er. In corn the market was active most of
the session. price changes covering a 40
$50 range. closing with q slight gain. Oats
advanced 5000 aud closed strong at the
outside prices. Pork closed p7Ac higher.
and lard and ribs .l0c above yesterdays
last figures, with q moderate trade only.
The wheat market opened with buyers by
the hundred and sellers scarce. with prices.
at the moment OF opening, anywhere from
76Ac to 76ssc for July. compared with 752c
at the close of Fridays session. Reports
concerning the condition of the crops here
and abroad and the advanced prices in En-
gland quoted In the early cablegrams were
the main causes Of the sgitated advance.
There was q good shipping business. and
this was made q feature of the day, shorts
covered freely, especially during the last
half of the session, and 1t looked as though
there were some motive power under the
market besides tho Influences mentioned.
The receipts at primary markets were
slightly smaller than the preceding week
and the exports larger, and it is fair to ex-
poet that tho visible supply will chow a
decrease. Receipts at Duluth were 23
cars, and at Minneapolis Isl cars. a total OF
ia cars, against 325 cars yesterday and 2 2
cars for the corresponding day a year ago.
Local receipts were 212 cars, of which 134
cars were of contract grade.
In corn the conditions were little
changed. but there was q change OF front
among the leading houses. The bullish-
ness OF the wheat market, the cold weather
over the corn belt. the discouraglng re-
ports from planting. the firm aud higher
cables. the light receipts and tho strength
in other markets contributed TO q strong
opening Receipts were small at $50 cars.
and the weather q little more improved
over the West. but IL 10 still wet and cold
in many places. The market entirely re-
covered from the early selling before the
close. and the last prices were better than
on Friday. at 44lac for May. 49, seller for
July and 46l5c for September.
There was O good trade In oats. but the
volume was not so large as for several days
past. An unsettled feeling prevailed. Good
buying on the weak spots and the late
advance In wheat and corn created
strength. and prices advanced ss0&c. and
the close was strong at the outside figures
for all months beyond May, the latter
showing a net loss for the day of $50.
The volume of trading in pork was very
light. The opening sales exhibited an ed.
$500 49, ~ az
local crowd the market declined, and then
reacted on active bidding. Some offerings
by q local operator forced the market do wn
zoe. but as soon as they were with
drawn 1t improved 12l9c. and closed
strong. 571ac higher than yesterday. The
offerings OF lard were quite limited. and as
q result trading was light. A firm feeling
prevailed. in sympathy with pork. the mar
ket advancing .10c, with very slight re-
actions, and closing with that gain over
yesterdays final figures. There was q
steady feeling in ribs early. the opening
sales being around yesterdays closing
prices for September to .02lec better. Offer
Ings were scarce. and with the advance in
pork this market responded to the extent
of Toe, and closed with that advantage.
Estimated receipts for Monday are:
Wheat, 200 cars; corn. 115 cars: oats. 2l0
cars; hogs. $4,000. Freights were slow and
rates remained steady at 11sc for wheat
and lc for corn to Buffalo. A few small
loads were offered. but no charters made.
The leading futures range as follows: