The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-05-20
CORN JUMPS Up 4 SIC
FALLS BACK AND CLOSES At AN AD-
VANCE OF 1 use FOR JULY.
ing 1 lee and I 3-Sc-The Rise Due
to "a COld-Wave Scare.

CHICAGO. May 1S.-Corn led the dance
on the Board of Trade. jumping 44sc and
closing 19sc higher. at 5Sisc for July The
cold wave scare caused the advance. july
wheat gained li2c; September oats l&c.
and provisions closed at advances.
Almost every commission man and specu-
lator of experience advised their customers
and told their friends before the market
opened that the inevitable break in the
wheat market would be realized to-day.
How much they were mistaken they began
to realize when, after a decline OF l2c per
bu, as the result of all the efforts of the
entire local talent, punched together on the
selling side. the price was gamboling
around 7212c per bu for July, about half
hour from the close. That was quite
a contrast with 69i2c, although some few
sales were made near the opening. July
started with sellers at zoe. but no buyers
until it had been offered down TO 6S$4c, and
in some instances as bow as 69l2c. 1t re-
covered gradually to 70asc, but for an hour
and a half there was enough wheat for
sale at anything. When, however. heavy
frosts were predicted for South Dakota,
Nebraska, Kansas and Missouri. threaten
ing the destruction of the corn which is
began to shoot skyward, wheat could no
longer be controlled and jumped about for
aos nsi to n09 ke pea on in about teen
minutes 10 1024c, rose again 10 124c and
closed with buyers al 7ls4c; The ordinary
market news not much needed apart
from what referred to the reported damage
to the growing crops The Northwestern
receipts at Minneapolis and Duluth were
2O7 cars. against 2S5 year ago. For this
week the carloards received at Minneapolis
and Duluth have been six hundred less than
or the corresponding week of last year
rnnlyf ola nt q nj
from both coasts were 2,3S7.0OO bu COM
pared with 2,sO5.OOo on the week before.
Corn started weak, but did not stay in
that condition very long. The prediction of
frosts sufficiently severe to make the re-
planting of corn necessary In the princ:-
pal States of it's production was the cause
rare intervals in the corn pit. July opened
at 51ssc and sold from that down to slice
a time fioundered in lazy way at around
5114c. Soon that was changed entirely and
it went scooting about like the shuttle of
jumped to 55$4c. back again to 52&c and
up once more to 55a4c. all in about ten
minutes. The heavy local receipts; number
and $50 cars estimated for Monday. did
not improve it, The reason for the bulge
has been stated. The latest trading was
at 53lsc.
Oats were active and secured heavy
business. Frost scare, good buying by
all assisted in advancing values. Septem-
Der attracted the greatest amount OF at
tention. June started at 2sssc. sold at 2Sss@
Oslo. advanced to 2sssc and closed at 2sAc.
September ranged from 26s4c TO 2Sssc and
closed at 2S3sc
The provision market was steady near the
beginning owing to the hog receipts be-
ing moderate. 1t became quite strong when
the corn market showed the way in such
excited fashion and to the advap e in that
article is TO be ascribed gain for the
day of 32iRc in pork, 12i2c in lard and l5c
in ribs ~
Freights are quoted at lac for wheat, 1sc
for corn and 1c for oats TO Buffalo
Estimates for MondayoM neat, 20 &C CARS prs,
Hogs next week. $4,000.
leading futures ranged as follows yester-
day