The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-27
STILL ON HI BULGE
WHEAT DIPPED 1-2C Y THEN
JUMPED UP, GAINING LIS CENTS
Evidence that the Bears Have Fallen
Into Their Own Trap-Provisions
Range Higher.

CHICAGO, April 6.-After an early din
of 1ac on the rains, wheat advanced sharply
to-day on reports of heavy buying for ex-
port. and with shorts covering vigorously
July close 11sc higher. Corn gained &c. July
oats sc and provisions closed slightly
higher.
The weather map showed a moderate rain
fall. with a prediction of more rain and of
a more general character in the winter
wheat belt to-day and tomorrow. A num-
Der of the local spectators We're waiting for
rain as an assurance that wheat would GER
tainly be a sale for 1c per bushel on its
appearance and that contingent of the crowd
We're free sellers at the opening from IA
CSC below the closing price of the preceding
session. The demand at the concession sur
prised the sellers and in a few minutes the
latter were clamoring to get their wheat
back at 12c per bushel more than they had
sold at. There were numerous buying or
ders at the opening, from New York, and
those were reported to be in consequence
of similar orders received from the United
Kingdom. The foreign markets were all
higher Liverpool bids to New York ex-
porters were at an advance from yesterday
OF &c per bushel and advices from there
were that the movement of wheat from La
Plata was practically over for the season.
The latter being very important, If true.
and it came from a highly respectable
source, had double this to do with the
strength which succeeded the early weak
ness here. About two hours from the open
ing New York crowded the wires with dis
patches stating that there was a good in
curry there from exporters. and followed
that up by advising sales of about thirty
ooatloads, twenty of them for LIVERPOOL.
July wheat. which sold at the opening as
low as G07ho md had rioor ~,l,, -. 4
5lasc, sprung to 62Ac on the export bust
ness reported from the seaboard. The do
but bullish. The total received at the pri-
mary Western markets were 239, 600 bushels.
compared with $4,000 bushels on the cor
responding day of the year before. The At
lantlc seaboard exports amounted to only
1000 bushels of wheat and 1900 barrels Of
flour. The number of boatloads taken in
New York was swelled Indefinitely by the
rumor here before the close and 1t became
known that some portion of the New York
ington worked $4,000 bushels here from d.
rect export to 7 verpool and one or two
ported to have been disposed of, but could
not be traced to a confirmation. The shorts
became very much alarmed by those re-
ported cash sales and ran the price of july
wheat up to 62alc, and 1t was still bringing
62ssQ62l2c at the close.
The corn market was weak at the opening
on account of the heaviness in wheat. The
rains were also conducive to the comfort
of the shorts, but with the great improve
iHeHl III the demand IOr wheat, which so
quickly sprang up. the shorts began to feel
less comfortable and, like their neighbors
in the wheat pit, they were soon buying
back their rainy weather corn at a loss.
was rather light and. in the end,
the price of May and July closed at 471bc
for the former and 4sc for the latter, which
was the highest price of the day. Receipts
to-day were 284 cars.
Oats were active and about steady. Early
in the session prices ruled a shade lower,
by free offerings. Later. how
ever, buying was good and that. with the
strength in wheat, caused values to rally.
July was especially strong, being wanted,
principally. May started at 28ssc, sold up to
and closed at 28Ac bid. July sold from
2S&c to 284c and closed Ac higher at 2SAc
and 2SAc.
The provision trade was moderately active
in spots during the remainder of the ses-
sion. Only 5000 hogs were received to-day
and but 5000 are estimated as the run for
tomorrow. Opening bids were at yester-
closing prices and the first trade was
at the lowest value of the day. After an adj
vance of 12l5c, July pork closed with a net
gain of sc. Lard, in the end, was unchanged.
Estimates for to-morrow-Wheat, so cars;
corn, 265 cars; oats, go cars; hogs, 5000
head. F&