The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-05-17
GOOD DEMAND FOR WHEAT
Local News Indicated Higher Prices and
Holders We're Not Selling.
The July Future Showed sic improvement,
Corn Advanced lsc and Rye for July Took
Sudden Jump Of 2l2c Per Bushel.
TRADING AT CHICAGO.

Provisions Were Steady and Strong, Pork
Closing 5Jc Higher.
CHICAGO. May 16.-There seemed less
anxiety regarding the financial outlook on
Change here to-day and the weather was
not all that could be wished for the growth
of the wheat plant. The result was to
more than overcome the effects OF the
stormy weather In England and France.
July wheat is 4o higher than last night.
Corn was firm and closed at $50 Improve
ment. Rye for July delivery took q Jump
OF 2lao per bushel. Nobody would sell any
TO a few anxious shorts who thought they
must have 1t. Provisions ruled strong and
closed with O gain of $50 for pork. .22lac for
lard and .171zo for ribs.
The feeling in wheat was a little tame at
the start. influenced by the lower English
cables and the Australian failures. but at
New York the railroad stocks were higher.
and the market here was a short one. con-
siderable wheat having been sold recently
on the belief that financial troubles would
carry prices down still further. With Signs
of . strengthening market these sellers
were disposed to cover, and there was q
good deal of buying on the part of shorts.
The higher Berlin market was q strength
ening factor. The opening was about the
same as yesterdays closing to u shade bet
ter. then became weak aud prices declined
as ID Vac. but soon grew stronger and prices
were advanced with slight fluctuations 10,
rnled eteady and the closing was about the
top.
Corn at the start was steady, first trades
being at yesterdays closing prices, but
there appeared to be an inclination on the
part of the Shipping concerns TO break
nrtnaa nffarfnn a m ran ain Or aQ Tho dnU nd.
vsnced, the price going off 40. The offer
ings were quite readily taken by some of the
lar ger commission houses having Eastern
connections and the price soon rallied. re-
covering the early decline, and closed with
q slight gain for the day. A good cash de-
mand was said TO exist. and the report OF
400.000 bushels being worked OF helped TO
sustain she advance.
Oats began with an easier feeling In
/ earlier prices. declining Is "a &c. Good buy
ing of the near futures by the shipping
houses and she strength in wheat caused
an advance of Y "a l5c and the close wal
steady at about the top prices. with q gam
of "a a for the day.
With the receipts of live hogs only q
moiety of what was anticipated, provisions
opened excited and strong at o fair adj
vance, which continued TO improve on two
prominent operators buying pork. They
absence of disposition TO sell. The volume
of trading was consequently light. Lard
and short ribs advanced in sympathy. The
rushing in of a few shorts TO cover added
TO the strength. but there was a moderate
reaction near the close. There was n fall
ina off In the demand for shipment on DO
mestlo account. owing to the financial
troubles. while the export trade was almost
in q dormant condition.
| There was q better de msnd for vessel room.
and rates were steady at lsc for wheat
and 10 for corn TO Buffalo. Estimated re-
ceipts for tomorrow are: Wheat. 30 cars;
corn, $50 cars; oats. lis cars; hogs. "a, 900.
The leading futures ranged as follows:
ODLious. IOD'ni,,1I HtohesfI LoIcesf. IClosi,g