The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-01-06
WHEAT'S RAPID PACE
LEADING CEREAL SET IN WITH
LIVELY TRADING AND GAINED nc.
and Provisions Were In Lively
Demand.

CHICAGO. Jan. 5.-The wheat market
showed more bullish. vim during to-days
short session than il has for month
back and at the close had gained a clear
1c per bushel on yesterdays final prices.
Wheat set the pace for the other mar
kets with the result that corn is CSC higher
for the day and oats &c higher, with the
speculative articles in hog products also
UP tri1e.
New York's buying OF wheat through
numerous commission houses and August
Brosseau's heavy purchases gave the mar
ket it's final upward impulse.
The wheat market perceptibly needed
something to keep it up at the opening to-
day. The scalpcrs seemingly had the en-
tire crop for sale at from 57Ssc down to
57lac during the first ten min
utes of the session. The market received,
at a critical moment, all the support it
required and soon the scalpers were as
unanimously trying to buy as they had
previously been DESTROYS of selling Re-
ceipts We're lighter than ever and foreign
stocks small and their market steady.
Chicago received forty-one carloads Min
neapolis reported receipts of l22 cars and
Duluth 62 cars, or 1S4 together compared
with 322 cars on the corresponding day
a year ago. The United Kingdom stocks
OF wheat and -four were given by Beer
Doim s at 12,00OO00 bu, as compared with
100000 bu the corresponding day of the
year before. One item of news was to
the effect that the Argentine wheat crop
is anywhere from 20 per cent to IS per
cent smaller this year than last and of
inferior quality. Several cables gave fur
ther confirmation to the above erect and
heavy buying orders, based, 1t was sad
on the Argentine crop failure were re-
celved from New YORK. The market, from
being rather weak, became very strong.
May, which opened at from 57Lac to 579sc
was cavorting around $3.50 near the close
A great deal of business was done and
May closed at 5Slac.
Corn opened very weak, but screwed up
its courage when the bold advance In wheat
was under way The opening price for May
was Also, and from that down to 47Ac, as
compared with 471ac at the close yesterday
1t rose in sympathy with wheat to 4Sc and
closed at 477sc.
Oats were active throughout the session
and quite a heavy business was trans
acted. Early in the day Counselman and
broke the market from 30s4c to 30iac. Then
the disposition to buy began to improve
Wheat and corn CON menced to advance
and the shorts in oats became alarmed and
bid freely. The price started to go up and
continued to do until 311sc was reached
at that price the market closed.
Provisions were very steady, and. in the
| end, rather firm. The strength of wheat
helped to sustain the hog market at the
slight advance which marked the opening
| prices. May pork started with advance
| of 2Rc, and, after dropping for a while,
picked it up again and closed with that
much gain for the day. Lard and ribs
rested at .021ac over the closing price of the
| $4,000, as compared with $4,000 estimated.
Estimated cars, Monday-Wheat, 70; corn,
| 400; oats, 1856; hogs, $4,000 head; hogs, next
week. 10000 head. fS
rrn1 fNl1n