The Indianapolis journal., 1893-05-08
CHICAGO MARKET STRONGER
Wheat Surprises Operators with 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 Gain of 55lac.
CHICAGO. May 6-There was q boom in
wheat to-day, the market bordering almost
on excitement. A fair speculative bust
ness vas transacted. and the feeling devel-
oped was stronger and prices showed
further ADVANCE. the closing being &c high
er. In corn the market was active most of
the session. price changes covering q u "a
$50 range. closing with slight gain. Oats
advanced IS 34c aud closed strong at the
outside prices. Pork closed 57lac higher.
and lard and ribs .l0c above yesterdays
last figures, with O moderate trade only.
The wheat market opened with buyers by
the hundred and sellers scarce. with prices,
at the moment of opening, anywhere from
76l4o to 769so for July. compared with 75s4o
at the close of Fridays session. Reports
concerning the condition OF the crops here
and abroad and the advanced prices in In
gland quoted in the early cablegrems were
the main causes of the sgItated advance.
There WAS good shipping business and
this was made o feature of the day, shorts
covered freely. especially during the last
half of the session, and II looked as though
there were some motive power under The
market besides the influences mentioned.
The receipts at primary markets were
slightly smaller than the preceding week
and the exports larger. and it is far TO ex-
pect that the visible supply will show n
decrease. Receipts at Duluth were 70
cars. and at Minneapolis Isl cars. total of
ia care. against 32S cars yesterday and %
cars for the corresponding day ayear ago.
Local receipts were 252 cars, of which l34
cars were OF contract grade.
In corn the conditions were little
changed. but there was change of front
among the leading houses. The bullish-
ness of the wheat market, the cold weather
over the corn belt. the dIscouraglDg re-
ports from planting. the firm and higher
cables the light receipts and the strength
in other markets contributed to stron q
opening. Receipts were small at 1S0 oars.
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 44l9c for May. asa seller for
July and 461eo for September.
There was n good trade IN oats. but the
volume was not so large as Tor several day 8
past. An unsettled feeling prev vailed. Good
buying on the weak spots and the late
advance In wheat and corn created
strength. and prices advanced IS 0a.c and
the close was strong at the outside tigures
for all months beyond May. the latter
showing u net loss for the dsv OF $50.
The volume of trading In pork was very
light The opening sales exhibited an ad-
souCo VI lST2Cs Dut ou eOno ecliluR p1 tno
local crowd the market declined, and then
reacted on active bidding Some offerings
by q local operator forced the market do wn
SOc, bnt IS soon as they were with
drawn 1t improved 12hc, and closed
| strong. 574o higher than yesterday. The
offerings OF lard were quite limited and as
n result trading WAS light. A firm feelin &
| 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 .02l9c better Offer
Ines were scarce. and with the advance in
| pork this market responded TO the extent
| of .10c, and closed with that advantage.
Estimated receipts for Monday are:
Wheat, 200 cars: corn. 1l5 cars: oats 2lO
| cara; hogs. 5000. Freights were Glow and
| rates remained steady ct 1lsc for wheat
| and 1c for corn to Buffalo. few small
| loads were offered, but no charters made.
| The leading futures range as follows: