The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1894-03-08
OATS LED AT CHICAGO
The Bull Movement, However,
Quickly Permeated Other Pits.
Advances i'm All Cereals Induced Liberal
Trading and the Improvement In
duced Rise in Pork.

CHICAGO, March There was a more
general speculative activity on Change to-
day than has been seen for months. Wheat
corn. oats and provisions all participated
IN the revival OF trade, and each made
money for their respective holders. Wheat
is up 12c, corn sc, oats nearly &c and pork
zoe. Oats started the bull whirl, and cleo
trffed the corn and wheat pits when the
two leading cereals found themselves being
wagged by their usually humble follower.
Wheat opened easier at 59%c for May, as
against 60lsc at the close of the previous
days session. 1t showed no symptoms of
rallying power for about fifteen minutes,
but at the end of that time 1t began to
stiffen up. and rose to Coo. The weaker feel
ing at the start was due to the mildness of
the weather, which over the winter-wheat
area was several degrees warmer than on
the day before, but receipts here were only
70 cars, compared with 1e9 at the same
period year ago, and 1t was pointed out
that zero weather was not possible The
change from the opening weakness to the
strength indicated by the recovery from
$3.50. the lowest point of the early decline,
to 60ssc, was to some extent due to the
pronounced firmness at Minneapolis and
Duluth, which, on a little encouragement
from here, shot ahead of Chicago. While
the rise was in progress Minneapolis wired
that receipts were likely to fall off ma
tertally there before long, although it is
difficult to see, with the premium which
cash wheat demands there, that any falling
of Is possible so long as there are stored
stocks in the interior elevators which can
be coaxed to the front. Some of the
strength in the market was likewise due,
1t was said. to the preparations of the
shorts to encounter what they fully eX-
poet will be a very bullish report from
Washington Saturday regarding the
stocks Of wheat on the farms The very
publish feeling in oats and corn also con-
tributed toward inspiring the wheat shorts
with a desire for relief from their out
came in firm. pri Hs showing from Is to 3
confines advance in flour, and Berlin q
mark gain In wheat. Seaboard clearances
were comparatively light amounting to
only about 10000 bushels in wheat and
flour from the four principal Atlantic ports.
quick. fluctuations between 6OAc and 602sc,
and the higher figures with generally rapid
rallies from each slight break. The market
was active and firm toward the end. clos
In corn there was pretty good buying by
some of the large concerns while the offer
was due largely TO the prospective smaller
movement, advices from the interior indi-
eating lighter offerings at country stations.
and also to the active demand for cash.
which is in urgent request at higher prices.
Local room traders sold early, but bought
back on the advance. which caused prices to
advance sharply. To-day's arrivals were
small at 273 cars. forty-three of the same
grading, and tO-mOrrow's estimate is placed
at 235 cars. The market bulged quite rapidly
on the announcement of the light arrivals
for tomorrow. The market opened with a
fractional loss and sold down slightly, when
the demand improved, shorts Fastening to
cover and prices were advanced &c, receded
There was an active trade and very
strong market. Shorts bought literally and
there was also good general buying, which
absorbed the offerings readily.
The strength in the cash oats market and
the active demand there had much to do
with causing prices to advance 5s6D7sc and
close at about the top with a net gain of
the sale of a round lot of 100000 bushels No.
2, in store, at 30Ic, or 12c under May Re-
ceipts were small, with no increases ex-
pected tomorrow.
Provisions opened steady on a lighter run
of live hogs at the yards than estimated
and an advance in prices Free covering
by the shorts, especially in pork and lard
| and the strength developed in wheat sent
the market up with only slight reactions, a
good advance being scored. The brokers
and commission houses were the principal
buyers. good volume of business was
transacted, except that ribs were compare
lively neglected. Trading fell off later on,
A little realizing sent prices down to a linn
tied extent, but they speedily reacted on
moderate buying and then fell off slightly,
the market closing steady for pork and easy
for lard and ribs.
Estimated receipts for tomorrow are
Wheat, 60 cars; corn. 235 cars; oats. 120 cars
hogs, $4,000 head. Leading futures ranged