The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-25
GRAIN MARKET I r
BEARS HAD THEIR WAY FOR A TIME
UNTIL THE RALLIED.
better Export Demand for wheat
Acted as a strengfhener-Proyi-
sions Record Declines.

CHICAGO, April 2.-The heavy demand
for and sales of cash wheat at Chicago was
the feature of the days Board of Trade
business. which in the end finally overcame
some persistent short selling and closed the
market at an advance of A9$c for July,
with May at the same price as on the day
before. May corn closed 1sc higher, and
May oats &c higher. Provisions finished at
slight Declines.
Wheat closed yesterday weak and defect
ed, but opened strong and in good demand
to-day. 1t kept up it's spirits for a time, but
heavy selling of shorts became the feature
of the trading for an hour, and there was
SO much more of it than the buying orders
could absorb that the price soon began to
give way, and from 60ssc at the opening for
May there was a decline to 591sc, and a drop
in July from 61Ac and Size about the open
ing to 601ac. The strong opening was due to
the continuance of the dry weather in the
wheat country and the strength of the Liv-
erpool market in the face of, Yesterdays de-
clineS here. The market recovered from the
prices last quoted to near the level of the
opening quotations., but the short sellers
We're in readiness for it, and again gave the
bulls more than they could carry. depressing
the price again to 5s1sc for May and to 60asc
for July. A very heavy cash business was
done here, although New York reported no
inquiry there. Armour & Co. reported 80, 1000
bushels sold by them for export, and j. j.
Bryant reported having sold five cargoes,
already amounting together to about 100000
bushels. Primary market receipts of 2S5, 200
bushels. against ILL., coo last week and 49, 900
a year ago, and exports from the Atlantic
seaboard of only about 100, 600 bushels in
wheat and flour together were reported. The
cash business done here was the chief infu-
ence near the close, and the persistent sell
ing by the bears all day was overcome.
Buyers finally wanted wheat after the bears
had bailed themselves out, and, there being
little more for sale, the price rose buoyantly
in the last twenty minutes of the session to
near the highest price of the day for July.
The latest trading was at 597sc for May and
Francisco that the seven or eight million
bushels of wheat belongings to the Fair es-
depressing the markets on the Pacific coast
was one of the influences which the market
mand was such that 61ssc was bid for July
before the traders left the floor.
The corn market was d lrs9. ed about ho by
47Ec down to 4sAa4ssc and back again to
a Similar course, selling off to 474c and back
to 47&@47Bc in the end Receipts to-day
were170 cars.
feeling, influenced by a similar feeling in
wheat and corn. dry. weather and some coy,
up to 2S7sc, down to 2811c and closed at 2SBc;
Tuly ranged from 2Sc to 2Sssc and closed at
2SAc bid.
The provision market was dull, and prices
had a somewhat ~ownwa tendency. In
the end. compared with closing prices of the
day before, pork was l21ac lower. lard .o712c
and ribs .O5c lower. The lays run OF nogs
numbered 5000 head, and Tor tomorrow
25, 600 are expected, the increasing receipts.
with lower prices at the yards, causing the
easier feeling.
Estimates for Thursday-Wheat, 80 cars;
corn, 225 cars; oats, 10 cars. Hogs, $1,000
head.