The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-02-19
WHEAT AND CORN UP
OPENED LOWER At CHICAGO, But
REACTED AND CLOSED HIGHER.
The Advance Caused by n Marked
Decrease in the Visible Supply
Moderate Gain in Provisions.

CHICAGO, Feb. 1S.-Wheat started to-day
with the apparent intention of taking a
dizzy slide down the scale. but marked
decrease in the visible supply and reported
export business at New York brought prices
up with jerk. May closing Act higher
Corn followed wheat, furnishing Nc higher
Tor May and May oats closed 3sc higher,
Provisions ended with moderate gains.
The wheat pit at the opening was flooded
with selling orders at Nc below SATURDAYS
closing price. The latest trading on satur-
day was at $3.50 for May and at the open
ing very few buyers could be found a. 52Ac.
and there were even more sellers than buy ers
at 52lsc, so that SIC became almost imncdi-
ately the trading price. An anticipated de-
crease in the visible stocks since a week
ago OF only 100000 bushels was a potent
Dear factor. The Northwestern receipts were
lao carloads more than those OF the Ger
responding day year ago. The weather
also was favorable TO. continuance IF a
free movement from the farms and country
elevators of the Northwest and the foreign
situation was not sufficiently encouraging
to overcome the bearishness of the domestic
surroundings. A great deal of long wheat
was again offered on the break and at
around SIC and 521sc local shorts covered
abundantly. There was little reaction dur
session.
The visible supply soon began to give evil
dence or a mucn larger increase than had
Dsen looked for ana when the decrease
was ultimately found to amount to 1,5s9OOO
buSneiS or three times much as MANY
nau expected, the shorts commenced taking
back the wheat they had unloaded From
GS-iS quite weak az ozc, the price gradually
hardened until about two hours from the
opening 1t had recovered to 521Ac Primary
markets altogether received 2sooo bushels,
against I4o,Ov0 week ago and 100000 {,
year ago. The English visible SUNNY
showed a decrease of $780, 900 bushels follow
ing a decrease of 100000 on the previous
ness done there for export. The price al
vanced here to 52Ac and closed at 525sc.
sympathy with wheat and partly owing
to the liberal receipts. Later. wnen wheat
had recovered from its early depression,
corn responded to the change in tone of
its neighbor as well as to the result of
visible supply statement which showed
a decrease of 232,0O0 bushels in stocks since
last Monday, and compared with an in
crease of $4,000 bushels year ago. The
Atlantic ports had shipped literally also
orders. The Atlantic port cIearances
amounted to 10000 bushels. The total in
against i77S7. 90 bushels last Year o at the
similar period. Primary market receipts
were $4,000 bushels, against $4,000 bushels
last year. The opening sales of May were
pressing sales at that. 1t sold off to 437sc
before this recovery began, but reacted to
Trading in oats was very scattered and
of only fair volume Corn influenced the
fluctuations. The feeling was firm. Nav
started at from 2slac to 2Sssc and sold up
to &c. at which price the market closed
The, discount for February. oats was less
May at that fraction premium. The vsi-
BILE supply showed decrease in oats of
$4,000 bushels, thereby leaving the total
stock in store 6,942. 900 bushels.
Provisions started as weak as the grain
markets, but soon faced about and wound
up higher all around. The early weakness
resulted from the liberal hog receipts
but at the decline there was fair buying
much of which was credited to Armour
and Swift. The latter strength in grain ALEC
helped prices At the finish, May pork
was 17lzc: May lard, .0212c, and May ribs
.071hc higher.
Estimated receipts for Tuesday: Wheat,
80 cars; corn, 450 cars; oats, $50 cars; hogs,
1900 head.
leading futures ranged as follows to-day: