The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-02-18
WHEAT HELD FIRMER
Covering by Shorts Led to an Ad-
vance of 1-4c at the Close.
Strength in the Leading Cereal Boosted
Corn and Oats with a Small Gain
i'm Provisions.

CHICAGO, Feb. was generals
ly firm to-day and closed with a &c gain
for May at soc. Covering by shorts, less
pressure to sell, smaller receipts and bet
ter cables were responsible for the better
feeling. MAY corn closed &c higher, May
oats &c higher and provisions slightly
higher all around.
The wheat market opened without ami
nation and apparently with few orders in
the market. During the first half hour
May sold off from 5S$c to $3.50 and up to
Soc. The volume of trade was much lighter
than for a week past, suggesting that
anxious holders had been quoted and ag-
gressive short sellers satisfied for the time.
The early market news was not all Of one
character. Both bulls and bears could pick
from 1t some palatable morsel. The re-
ceipts for the day and the cables were fair
ly satisfactory to the bulls. The weeks
shipments and the dullness of business
gave comfort to the bears. New York re-
ports that foreigners were fair buyers of
wheat there early in the day. The weeks
clearances from both coasts amounted in
wheat and flour together to zoos, Az bushels,
the lightest since in January, 1892. The
price reacted to 591sc for May before it
met with a reverse. AT the price named,
ONSF1A 4A1I Noo AZ E0AC lAAtlAl a
wanted. and it sagged to $3.50 before it
again met with a surplus of buying orders.
Exports were more liberal than for several
days, and to that was ascribed a rally
which succeeded the reaction, and which
again carried the price up to 591sc. Near
the close 59Ac was touched for o moment,
and that was followed by a reaction of
Ac, 59c being the trading price as the mar
ket closed, with May lac from the top.
In corn a moderate business was trans
acted. the most of which was between room
traders, fluctuations for the day covering
AqAc range. The feeling displayed was
steady and no essential changes occurred
In values. The opening was a tri1e above
the opening of yesterday, and after selling
turn in wheat at the time. Later the price
receded a little on the car lots for Monday
coming fairly liberal at $50 cars and wheat
easing off caused corn to sympathize.
There was a light trade and a stronger
feeling In oats due to fair buying by heavy
traders and to the light offerings. Prices
advanced 1suAc and closed at the top. The
receiots We're only "a cars, which aided in
firming the market.
The receipts of live hogs at the yards were
again below the estimates and prices were
slightly higher for them. AS a result pro-
visions opened steady about a point above
yesterdays closing figures, but eased off to
a moderate extent on the offerings. which
were light, being In excess OF the buying,
the local crowd realizing, On the strength
declined on further realizing. Later on the
offerings became quite scarce, and, as a
consequence, the market advanced to the
outside prices of the day, a very firm feel
ing prevailing in response to the continued
strength in wheat. There was very little
doing during the last half Of the session
and a strong feeling prevailed at the close,
with prices at the days top figures. Com
pared with last night May pork is 2lsc
higher. May lard -U2l5c higher and May
ribs .071Ac higher.
Estimated receipts for tomorrow are:
Wheat, 63 cars; corn, $50 cars; oats. 125
cars: hogs, $4,000 head. Leading futures