The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-05
WHEAT SHOT UPWARD
SUDDEN TURN TO THE CHICAGO MAR
KET JUST BEFoRE 1T CLOSED.
Heavy Decrease for March Reported
from OBSERVATION-DISCLOSURES Masss.
Moderate Advances.

CHICAGO, April AFTER a rather list
less session, wheat wound up with bounce
to-day, closing CSC higher on the reports
of heavy cash business. May corn closed
&c higher, May oats &c lower and pro-
visions at moderate advances.
The wheat market opened at about the
same price as it closed at yesterday, but
weakened in the course of the forenoon
and declined from nc to ssc The feeling
was not radically weak, however, for at
each decline there were enough buying
orders uncovered asto cause rapid upward
reactions to extent equal to the pre-
vious declines The domestic receipts were
considerably smaller than of late, and that
following on the heavy export clearances
of Tuesday and Wednesday had an effect
on the spectators which prevented them
from being enthusiastic sellers. Their in
clination was rather to buy on small de-
clines. The primary market receipts were
only 1853, 900 bushels, against 90, 900 week
ago. The foreign markets were about un-
changed The Cincinnati Price Current re-
marked that wheat required more moisture
and the signal service intimated there was
probability of it's getting some more soon,
as low barometer prevailed in Ne
braska, Montana, Dakotas and Minnesota.
That and some rehashing of the Argentine
wheat situation formed the staples of the,
morning gossip. In the afternoon it be-
came known that good inquiry for cash
wheat for shipment existed. Nearly every
handler of the article was approached by
people who had orders to buy, and although
a considerable quantity was worked, a very
much larger amount would have been
placed If the holders had been willing to
was &c below May. Seeing the extent of
the demand, the owners of the grain natu-.
that which was sold was at 5sc under. and
some of it at 12c under with the full May
4 telegram from Liverpool reported de-
crease in stocks of wheat and flour in Eu-
March this. year, and on April the total
supply in the position referred to ,o was 20
York reported a large business done for
export there and under those combined in
huences the market became strong and
price of May was firm at soc bid after
having previously touched 551sc for a few
fives The market held stih1y around 55c
to the close. that being the latest trading
Corn was inclined to be weak early, but
became nrm when the small receipts of
us cars to-day were supplemented by esti-
mated receipts of only so cars for to-mor-
acter, however, and even the boomi.g char
acter of the wheat market near the end of
the session did not infuse any life into the
trade. There was small demand for corn
to go to Iowa, but 1T was not large enough
to be much considered. Il is the absence
of demand in face of the very small move
ment from the farms which keeps down
bull speculation. Primary market receipts
were only $1,000 bushels. May corn opened
at 461ac, sold at 1870 and closed at 1880
bid. 80 fa73
Oats sold rather slowly, yet there was
a good disposition to get rid of them, and
an easier tone to the market was the re-
suit. A fairly active session was passed.
Counselman a free seller and the crowd
in general were offering. The slight
strength in wheat and corn prevented oats
from selling lower than they did. May
started at from 295s@29a4c to 295sc, sold to
2slsc@2s5sc and rallied, to 2sAc, at which
price the market closed July ranged from
2S5sc to 28s4c and rested at 2Sssc.
The provision market ruled firm and
prices recovered some of the loss of the
day before. Opening prices were about at
the closing rates of the day before, but
began Immediately to respond to some
good buying orders. which cropped up. The
result of the days business was an advance
of 71ac in pork .021ac in lard and csc in ribs.
Estimates for Friday-Wheat, 20 cars;
corn, 80 cars; oats, 40 cars; hogs, 5000
head. Leading futures ranged as follows: