The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-03-30
THE SPRING ADVANCE
BETTER PRICES FOR GRAIN SET
TING IN on CHICAGO BOARD.
Dry Weather in the Wheat Belt starts
the shorts to buying and n Gain
of 1 Use Is scored.

CHICAGO, March pa combination of
foreign and domestic drought scares set the
shorts in wheat to covering to-day and
after 11sc advance, May closed sae higher.
Corn followed reluctantly, gaining &c for
May and May oats closed lac higher. Pro-
visions finished with but little change.
Wheat was irregular at the opening due
to the Weather Bureau reports as they APP
peared in the morning papers, predicting
rain for tonight and to still later fore
cast, issued at o'clock this morning, and
exhibited Change before the opening
promising fair and colder weather for to-
night and Saturday. The opening bids for
wheat We're 55lsc for May. but 554c was
paid almost Immediately. The price rose to
557s455a4c in the course of the first half
hour of the session. Shorts were good buy
ers, exhibiting considerable nervousness
over the crop situation. There was a sug-
gestion of trouble brewing between England
and France in the cable dispatches pub
lished in the morning papers, and it was
thought that some of the rather vigorous
buying of the forenoon was due to that.
Dry weather and conspicuous absence of
offerings were the chief reasons but they
were enough to put the price of May up to
Doc before IL o'clock. There were also rum
ors of further purchases of cash wheat
here and at st. Louis, which helped the
Buyers and increased the scare of the
previous sellers. Export clearances were
fairly liberal, amounting in wheat and flour
to 100000 bushels. Foreign markets opened
I ossd weak cn o go but Paris
to 10 confines for wheat and that caused
reaction here. The reaction from SIC reached
it's limit at 5512c, and after that it worked
upward again until 561sc was freely bid for
few seconds, with l-16c over that paid for
one or two lots. The market was active
ana nervous. with plenty OF sales the
big bulgeS and hosts of buyers moderate
breaks. It surged up and down between
55Ac and sec several times and finally closed
with sellers at 555sc
The corn market was almost completely
per bushel between the extremes of its
price for the day. The transactions were
cars or iess than estimated ve Were iSz
but for tomorrow 1870 cars are expected.
The = opening price as for q, May was 4sAc, but
touched 1870, the advance in wheat being
the on.y, apparent influence. The price
where it remained during the greater part
of the session, closing at 461ac.
good BUSINESS The Demand Mt1 waa
urgent and sales made readily. Seckel was a
heavy buyer Other buying. as well as the
May sold up from 291a@29ssc to 301sc, clos
ing, after a slight decline, at 297sc. July
high price Durin n the last two days 81 there ene
has been heavy business done for Eastern
Shipment IN caSn oats ana something close
to May price has been paid for anywhere
from, 10000 to 100000 bushels. The under
standing is that the inducement a
heavy cut in rail rates to the East.
The business done in provisions was fair
in amount and the fluctuations were over
a moderate range, with the average of the
days transactions at an Improvement upon
the closing prices of the day before. Shorts
covered rather freely on the decline, but
offerings Were at no time of the day heavi-
~ pressed. The demand for ribs was good
but buyers, rule did not bid for them
preferring to wait until they were offered
After an advance of 10c, pork closed only
PIC higher than the day before. Lard, in
the end, from .021Lc to Csc lower and
ribs without change, the steadiness coming
from the light receipts of hogs
Estimated receipts for Saturday-Wheat
50 ears; corn, 100 cars; oats. 80 cars; hogs,
12,000 head.