The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-03-15
WHEAT WENT UP 11-8C
OTHER GRAIN sYsfPATHIzED AND
GENERAL ADVANCE RESULTED.
Flood Of BuIIfsh News STAYED on TN
til After Midday, When shorts
Coveresl-Pork Gained doe.

CHICAGO, March 14.-Whcat was slow to
respond to the bullish news which flooded
the market to-day, but shortly before the
close 1t started up with a rush, ending 1lsc
higher for May. Corn rather reluctantly
followed, closing &c higher, and May oats
gained &c. Provisions were strong and
made marked advance.
Wheat started at a shade better than
it closed last night. Much of the early
steadiness resulted from bullish estimate
by the Cincinnati Price Current. Calcu-
lating on a basis of u5Ooo,Oo9 bushels in
farmers hands, it indicated a reduction of
the stocks of wheat to 4. coo bushels on
July l. That will represent the visible, the
invisible and in fact the total of all Of
the wheat in the country at the estimated
rate of consumption and present rate of
export, according to the authority referred
to. Minneapolis and Duluth received to-
gether 273 cars, against 3S1 cars last week.
Primary market receipts all told were &c.,,
000 bushels, against $4,000 bushels on the
corresponding day of last week. The ex-
port trade from the four principal Atlantic
ports amounted to 10000 bushels, includ-
ing both wheat and -four. The foreign mar
lxets showed considerable independence of
each other. Liverpool was I'D lower, but
steady at the decline. The English and
French country markets and cargoes off
coast and on passage We're firm Closing
quotations from Berlin were ia marks high
er. There were numerous reports from
Kansas of wheat damaged from the freez-
ing and thawing. and letter from Texas
said that fields were being plowed up there
The market gave very little response to the
flood of bulllsh news which was received
until noon. The fluctuations, which for the
most of the forenoon were confined to a
range of from 56c 20 56Ac broke bounds
about fifteen minutes after midday and shot
up rapidly to 5714c. The quick advance
set shorts to covering vigorously, and the
finish was firm at 574c for May.
The corn market was sluggish and dull
1t gave very little response to the com
parative firmness in wheat early in the
day and gave not great deal of strength
to wheat as displayed during the latter
part of the session. Receipts were Ill cars
opened at 457s@46c, sold at 455sc, and closed
at 1880.
There was fair general trade in the
oats market, all in small lots and scat
tered, however. The strength IN corn and
wheat was principally influential in Great
2Sase, sold down to 291s@2914c. back to 29lac,
and closed with sellers at that price.
The provision market opened strong. Pork
opened Pie up, rose another soc in the
course or the session, and closed with
a net gain for the day of 4oc. Lard was at
its highest about the close, and left off
with gain of .121ac. Ribs rose to .15c over
the previous closing price. The covering
OF heavy line of shorts for a prominent
provision firm said to underlie the
days dealings. and the packers were free
sellers near the end
estimated receipts for Friday: Wheat, II
cars; corn, 100 cars; oats, 140 cars; hogs,