The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-02-07
CORN WAS FEATURED
e THE CHICAGO GRAIN
WITH AN ADVANCE OF L 5-sC.
Wheat from Early Weak
ness and Crossed 1-4c H-isher-Oats
and Provisions Also Rose.

CHICAGO, Feb. 6.-Aided by liberal buy
ing and vigorous covering by shorts the corn
market led the dance on the board to-day
and at times to a rather merry tune. Corn
closed with a gain of 15sc and wheat &c per
bushel. Provisions fooled it heavily, but
managed to work their way up q triiing
extent. Oats finished t11ac higher for May.
Wheat opened weak at Ac per bushel
lower than it closed yesterday. The chief
reason for the opening weakness was the
small amount of actual cash business re-
ported as having been done at the board
yesterday and the fact that much of the
buying which caused yesterdays advance
here was credited to the influence of the
improved -oreign demand. Everything re-
ceived by wire in the first two hours of the
session was bullish and an advance soon
succeeded to the opening decline. The re-
ceipts OF wheat at the prin ary markets were
almost sensationally small, and exceedingly
SO in comparison with those of the last two
years. The total primary market receipts
was about 1000 buhels, compared with 1885,
coo bu on last Wednesday,, and All, 900 on
the corresponding day last year. The early
cablegrams quoted Liverpool I'D higher, but
rather shaky. Paris was 10 centimes higher
and Berlin from Ia to liz marks higher.
Bradstreet made a net increase of 942, 600 in
the stocks of the world. The closing cables
came weak from Liverpool and quoted a de-
cline Of Hd from the opening figures. Paris
was unchanged and Berlin had but l mark
of it's early gain. The great strength dis
played by corn was very helpful to wheat
and caused a further advance after that
which started from the early strength of
foreign markets and the small receipts were
apparently on the turn. The weakness of
the closing Liverpool cable dulled the buy
tno rIo owl nc tha ,arIx - cd
rather heavily in the last hour of the ses-
sion. From 5stsc at the start, the price of
May dipped to $3.50, then rose to $3.50, but
the strength in corn again Influenced the
price and May closed at SAC.
Corn opened with but little change at 44c
for May, and influenced by the early weak
ness In wheat, touched 4s4e. At nat price
offered and the price started up with a
whirl, shorts covering vigorously. The mar
ket began to sag after reaching 45G45sc and
for a time acted heavy and dropped back to
443sc. About ten minutes from the close the
buying was renewed with more vigor than
before and in the end the price was 4514c
and the pit full of excited traders, buying
and selling at that when the closing. bell
sounded. Through billed corn was in brisk
demand In the carload market at 1Ac adj
vance. Buying orders ercm st. Louis were
numerous.
generally good demand and sympathy with
corn, prices were higher. May sold from 29c,
ally advanced to 29lac. at which price the
market closed. The cash market for oats,
while not very active, was also ccEsiderably
the advance in the speculative crowd. The
anticipated storm for tonight rather en-
coura ged holders to await developments and
perhaps obtain better prices, as the receipts
for tomorrow are fixed at only s-xty-five
cars.
important. The fluctuations appeared to be
controlled entirely by the course OF the
grain markets and as the receipts OF hogS
We're less than expected, provisions ruled
firm. May pork opened at slo0ls, as COM
TO S1O.22lA and closed 20c higher at 5000:
May lard rose .02H at the opening and did
not vary from that over .Q21@ above or pc
low. 1t closed at 6.6I1a nc as compared With
6.621kc yesterday. Ribs closed with sellers
at 5.321sc against 5.221ac ye:rerday.
Estimated receipts for to-morroW-W neat,
Is cars; corn, so cars; oats, 65 cars; hogs,
5000 head