The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-05-08
JULY WHEAT UP AGAIN
BIG DECREASE IN WORLDS VISIBLE
SUPPLY e TO AN ADVANCE.
The Leading Cereal Rose n Cent,
Provisions Closed Unchanged.

CHICAGO. May latter a sharp break
to-day wheat went up with a bounce. en-
couraged by a big worlds visible decrease,
and July closed 1c higher. July corn gained
1sc. July oats sc, and provisions closed
unchanged.
Thsre were a great many buying orders
for wheat at the start. The cables brought
lower quotations from abroad, the country
was still being wet down in an irregular
way by the numerous thunderstorms, and
primary market receipts continued to belle
the theory Of any much greater scarcity
behind the visible than is usual at this sea-
son of the year. About the only bullish
feature in the early news was the official
report of the Kansas Agricultural Bureau.
That reported II per cent. smaller acreage
sown last fall than on the year before,
and of that reduced acreage the report
said that 80 per cent. had been rendered
practically useless. The receipts at Mime
apolis and Duluth were 3S9 cars. compared
with 32S a year ago. Primary market re-
ceipts were z 1000 bushels. against 259, coo
on Tuesday Of last week, and 167, 0O bu
on the corresponding day of the year be-
fore. Export clearances Of wheat and flour
for twenty-four hours from the Atlantic
seaboard amounted to 342, 200 bu. BY spe-
cial cable to the Board of Trade the Ar
gentine shipments for the week were given
as 1.S4O.0O bu, and those of Russia at g.
10000 bu. The temper Of the crowd was
very bullish until after the receipt of the
Bradstreet statement Of the weeks changes
In the worlds visible. and that proving to
be a decrease of 100000 hu. instead of only
2.50,0O decrease, as had been calculated
on. it turned the general sentiment and the
49,. -
exclusive contemplation of the bearish feat
ures of the situation. Then il became
known that 1t had been arranged to ship
two cargoes of wheat FROM here to Toledo,
and that still further increased a desire
to buy, which the Bradstreet statement
had started. New York reported about the
there, destined for a German port, and
that. coming at the same time with an
advance Of mark to IA marks quoted
enlarged scale Of the bullishness which
characterized the market at the opening.
July opened at from 62ssc up TO 62sc, as
yesterday. During the most of the fore
noon the tendency was to get rid Of the
advance. 1t sold off to 61$c In an irregular
manner. but gradually recovered to around
62Ac, making a further advance of 1c per
bu in a much more rapid style. 63Ac being
paid at the close.
The corn market was very tame and
characterless until wheat began to recover
from its early bearishness. 1t then showed
COIlSlutTdDlc Split. IL tuidn LOT CASH
corn is good. and the speculative crowd
express much confidence In purchases at
present prices. Receipts were l7 cars. and
market receipts were 171.00 bu, against
$4,000 on the corresponding day of the
year before. The price of July at the open
vancing to 49%c lit reacted to about the
opening figures previous TO its final bulge.
1t rose to 5O5sc and closed at that price.
Up to within an hour or SO Of the close
the oats market was quiet. The feeling
was easier in sympathy with the other
grain markets. Toward the close business
picked up somewhat and prices were firmer,
partially due to a similar action in wheat
and corn. The stocks of contract oats
showed an increase Of $4,000 bu since last
week, and was credited with weakening
the feeling in the market at the start.
Bradstreet's report showed a decrease of
351. 900 blu. and helped the later advance.
June sold from 8hQ2Sssc to 2SAc, declined
to 2S1aG2S5sc, advanced again to 2S7sc, and
closed at that price. July started at 2SAc,
sold at 2S1sc w to 2Sac and rested there.
Provisions were dull and rather weak,
but, as on the day before, closed without
any material change in prices since yester-
day. Hog receipts were $4,000, and the
market from sc to 10c decline.
Vessel room is in fair demand, with large
charters at 11sc for wheat and 1c for corn
and oats TO Buffalo. The Erie canal took
a lot of wheat from Buffalo for New York
Estimates for wednesday-wheat, 20 cars;
corn, los cars; oats, 15 cars; hogs, 24,c00
head.
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