The Indianapolis journal., 1894-03-21
FIRMER AT CHICAGO
Wheat Had a Narrow Range, but
Closed at a Small Advance.
Other Cereals Developed Marked
Strength and Provisions Managed to
Hold Gain of &c i'll Part.

CHICAGO, March 20.-Wheat was firm
but quiet to-day, closing 14c higher for
May, after a range Of only 12c. Tie pros
poets OF cold wave. fairly liberal clear
ances and the small total afloat for Eu-
rope helped the price, while the warm
rains, lower cables and free selling on the
hard spots prevented a marked advance.
May closed only 1sc from the Top. Corn
was strongest toward the close. Oats were
very strong, with net advance secured in
corn Of 12c, and 24G7sc in oats. Provisions
made fair advance early, but lost nearly
all of it before the close.
The developments of the market news
during the afternoon averaged more favor
ably for wheat bulls. The price, after
hanging for over half hour within Lice
of the closing quotation of the previous
afternoon, began to respond slightly to the
few bullish features Of the mornings news
There was no encouragement in the early
cablegrams, which reflected the previous
days weakness here. The Northwestern
receipts were a little lighter than on the
day before. Reports from Missouri, Ken
lucky and Tennessee said that wheat was
Jointed, and therefore easily susceptible to
damage by late frosts, should they occur,
and the weather bureau here coming out
with prediction of a cold snap caused
enough apprehension among the shorts TO
induce some cautious covering up of their
exposed contracts. The New York clear
ances Of yesterday were quite liberal Of
wheat and flour, which likewise helped the
price a little when reported. The total
afioat for Europe was 5,6S2 600 bushels,
which Is at least 100000 bushels under the
estimated weekly requirements OF the i'm
porting countries. Under the combined in
tuences Of the foregoing the price of May
wheat rose from 57a4c and 577sc. around
to 5SQ581sc Business was rather light,
principally on local account, but with some
trade from New York. chiefly In the way of
buying. and with some orders from St.
Louis on both sides Of the market Brad
streets usual weekly estimates OF the
changes in warehouse stocks throughout
the world and af1oat for Europe gave a
total decrease Of $4,000 bushels. The same
authority estimated the decrease of the
was a continuation OF the inquiry for cash
No. spring wheat here, with $4,000 BUSH
els reported worked by Boyden & Co. early
In the session. 1t was said there we're or
ders in the market here for over 100000
bushels of No. spring at 12c under the
price for May. which, so far, the buyers
The closing cables brought slightly lower
quotations. for the price almost stood still
at 577scc for forty-five minutes in the last
May was 577sd5Sc, and OF July, 59$4c
The corn market was firm and made a
slight gain. The Liverpool market was
quoted at a slight advance, and the esti-
mated receipts for tomorrow show large
reduction from the recent average. There
was also a brisk demand from shippers
The opening price for May was 367sc, and
a gradual advance to 3714c took place. The
advance we'll maintained throughout
the remainder OF the ession.
A fair amount of business was trans
acted in oats at higher prices. The firm
ness In corn and a stronger cash market
was also favorable in retaining the slight
strength that developed early. May started
isc up from yesterdays latest quotation at
301sc, and sold up TO 30ssc. Towards the
close the market advanced to 307sc and
advance was caused principally by Car
rtnSton- Hannah, who bid the market up to
3Oasc when shorts were bidding freely.
The provision market firmer at the
opening, due to the receipt of only 16 900
hogs whereas q 900 had been the previous
estimate. There was some further advance
following the gain at the opening, but
packers showed disposition to sell at the
better prices Wolf was among the more
prominent buyers of pork early in the day.
Armour & Co, later on. We're sellers of
ribs 10 moderate extent, and Beasly was
a buyer for the Cudahy Packing Com
pany. 1t was thought Estimated receipts
of hogs for tomorrow are $1,000 head
Pork was relatively firmer than lard and
TO sell, as the market was coming to a
close for the day. and all the previous ad-
vance and 2lac besides was lost Pork.
after gaining l5c, closed with the modest
advance of &C. and ribs, after a rise of
.Q71ac. left off at yesterdays closing quota
tion for May.
Estimated receipts for tomorrow are:
Wheat % cars; corn, 160 bu; oats, $50 bu:
hogs, 1900 head. Leading futures ranged