The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-23
WHEAT UP 1873 CENTS
CLAM0ROus DEMAND AT THE OPEN
ING CAUSED A SPEEDY JUMP.
Perhaps 3o,000.00o Bushels of the
Leading Cereal Changed Hands
Provisions

CHICAGO. April 22.-After a wild squirt
at the opening and a slump in the middle
of the session, wheat closed 1850 higher for
May to-day. Heavy buying largely by shorts
caused the advance. May corn closed &c
higher, May oats sc lower and provisions
at a slight advance.
Wheat started up with a wild rush, open
ing trades being at 112c advance. Everyone
wanted to get May at 611xc and July at
621sc, and sellers. even at such tempting adj
vances over Saturdays prices, were few.
Almost instantly &c was being bid for May
and SIC for July, and 1t was only then that
it was found possible by the greater number
of the brokers having buying orders to find
plenty of sellers. The on-rush to buy had
obtained such an impetus, however, that
62Ac and 63Ac for May and July, respective
ly, were paid before the trading got into a
regular swing. The last-named prizes proved
the high point of the advance, and 1T took
only five minutes from the start to reach it.
TIL excitement gradually subsidized, and,
having done SO, the crowd began to look
around for the cause OF it's alarm. Liver
pool sent quotations of an advance there of
from liz to 2 per Genital. Showers had visit
ed the large area of the winter wheat coun-
try since Saturday; the Northwestern re-
ceipts at Minneapolis and Duluth numbered
All carloads, compared with only us cars a
WCch ago anu IA Cdt5 Oi thV responding
day of the year before. The total of the
days primary market receipts was 2l5,OC0
were SO6. 900 bu in wheat and flour together
from Atlantic ports. The visible supply de-
creased 1861 600 bu, against a decrease OF
year before. The English visible supply de-
creased 1,250,000 blu for the week, the amount
on ocean passage increased 1,92O,0O0 blu.
$40, 200 blu. compared with 2,6l6,O0 on the
9 a pa apd tha Vigihla Gl1nnlV decrease of
about 700, 600 blu less than had been looked
for, the price of May slumped to 60ssc in an
a large scale set in again and carried the
price back and up to 61ssc. which was the
Perhaps as much as SO,000,OO bu Of May
wheat must have been sold to-day.
Shorts where Te their presence Sa%s Was SsSeI SSmi
bers. The demand for that long-time-neg-
the market opened, as an advance of lie in
May and July at the start will Indicate: The
first prices were 4sasc and 4sa4c, respectively.
July at the close SATURDAY. Those prices
were quickly raised TO 4S7sc for May and
highest points of the days range. Suisse
quently there was a DECLINE In May to 47lac
and In July TO .4Sc, sellers. but In the end
May had recovered again to 4SAc and July
to 4S%c. both prices being bid as the session
was closing.
Oats started very firm and active. Shorts
were still anxious, and bought freely. The
advance in wheat and corn also figured con-
spicuously in creating higher prices early
in the day. May started at 2SSc and sold
at 29%c. Elevator people took advantage of
the high prices and disposed of their hold
ings almost regardless. The price dropped,
and during the decline and at the lower
prices buying was resumed and increased.
A wild and panicky session was passed from
that time on, Stacking up slightly at inter-
walls, but resumin again with greater ac-
tivity. May sold off to 2Ssac. rallied to 29c
and closed at that price. July delivery at
tracted the greater part of the attention.
At the opening sales were made at 29q29Bc,
the decline took the price to 2Sssc, the rally
to 2S9sc, where 1t rested, &c under Satur-
days last quotation. The visible showed an
increase in oats of 5000 blu. which was
quite influential in aiding the late weak
ness.
The provision operators had not a very
active day, but under the stimulus of the
big business doing in wheat and corn, a
moderate demand sprang up. Hog receipts
were $4,000. instead of 10000 estimated, but
for to-morrow's run only 1900 are expected.
Opening prices for pork, lard and ribs
showed advances of 15c in pork and .N12c
each in, lard and ribs. The first sales
brought about the best prices of the day.
At the close pork had established an adj
vance for the day of &c in May and 10c in
July, lard .10c and ribs from .O7iac in May to
.05c in July.
Estimated receipts for tomorrow: Wheat,
4s cars; corn, 326 cars; oats, 2S4 cars; hogs,
5000.