The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-12
THE BULLS SURPRISED
QUANTITY or WINTER WHEAT
LOADED BACK INTO ELEVATORS.
Fractional Declines in All Cereals,
with Provisions Finishing Weak
and Lower.

CHICAGO, April 11.-Wheat broke sharp
~ to-day on the report of the loading back
into elevators of wheat that had been held
in vessels May closing sc lower. May corn
lost &c. May oats lost 1zc. and provisions
finished at decline.
The government report, which gave the
condition of wheat at S1.4, made very little
impression on the market. The price opened
just shade under the rate ruling at the
close of yesterdays session, but soon the
slight decline was taken advantage of by
some of the shorts to lessen the bulk of
the previous sales May sold at 55c at
the opening, and eased off to 541sc, which
latter was the point at which the shorts
bought. The buying by shorts got fur
Their incentive from the reported sale of
100000 bushels of wheat taken for ship
ment to Baltimore early in the forenoon.
The price rose to 55lac under that and
rumors of the likelihood ofs con-
siderable more buying worked before
the day was over. The Northwest
ern receipts were light Minneapolis and
Duluth reporting only 200 cars, compared
with 1913 the corresponding day of last year.
Liverpool was quoted unchanged in price,
but holders were very firm New York
wired here early in the day that foreigners
were free sellers of distant futures in that
market. Al the ADVANCE ndHleu ABOVE Hdf-
bridge and those who had calls likewise
sold with considerable confidence and ow-
ing to the further fact that on tomorrow
there will be no session of the Board of
Trade the bullish feeling was suppressed
for time and the early rise was lost. the
price getting down again TO 55c. AT about
that stage 1t became rumored that an OPP
orator who had carried lot of wheat all
winter in vessels because IT was cheaper
to do SO than to pay the regular storage
charges, and had reserved the privilege
of unloading IT back into the elevators
again, had seen fit to exercise the latter
privilege. The market had further break
when the latter report got into circula-
ton, and it sold as low as 545sc for
few minutes. and closed with buyers at
that
Corn was strong early. and weak later.
It opened at 457sc. for May sold off to
% n1nsed to c tqm ns back
were los cars, and 100 estimated for
tomorrow. The advance at the start was
on good demand for May. which started
some shorts to covering. although the early
buyers of May sold to an equal extent. The
later weakness was due to the drop in
Until within an hour of the close little
of Importance transpired in the oats mar
somewhat higher on fair buying and sym
pathy with wheat and corn. The change
for the Amos seypd Spd as sns rn1 ss
at one. time, including longs. elevator peo-
pie and the crowd in general. ]. j. Linde-
heaviest disposers. The early advance of
lsGAc was lost, besides nc additional. May
started at &c, sold up to 1914 @29%c, and
dropped to 2s5sc, at which price the mar
ket closed.
The provision market opened strong and
closed weak at 15c loss for the day in
pork, Csc in lard and .07lac in ribs. The
hog receipts were 22,000 with 1900 esti-
mated for tomorrow. The weakness was
the result of lower prices for live hogs
and the break in the grain markets.
Estimates for Friday-Wheat, So cars;
corn, $50 cars; oats, 1870 cars; hogs, 1900.
Leading futures ranged as follows: