The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-18
MADE A QUICK BULGE
DURING LAST FIFTEEN MINUTES
WHEAT JUMPED TO 81 IA CENTS.
Evidence that the Spring Demand
Supplies-0ther Markets Lower.

CHICAGO, April 1.-THE wheat market
got suddenly excited during the last fif-
teen r.linutes on the cash business which
developed here and at New York. May sold
to 57Ac against 551zc last night. The fol-
lowing were given as reasons for the squirt:
Sales of 100000 bushels here for shipments
East at the equivalent to May price; sales
of a round number of carloads-from % to
50-in addition to the above to go to a
Michigan miller and other smaller lots for
country millers; sales reported from New
York, thirty-four boat loads including
twelve al outports; cash selling to mllers
at &c over May. The big feature of the
situation was the claim that outside Chi
cage there is practically available
wheat for export or for interior domestic
milers. Traders in wheat appeared to be
much in doubt this morning. There was
not enough outside buying to greatly
courage local buyers. On the other hand the
buyers We're timid because the past two
days the short sales were getting risky.
There was no influence in the cable.
Routine news was somewhat bullish.
Northwest cars were 1874. compared with
262 a year ago. Western markets, all told,
had 172.G0O receipts. against 272,G00 last
year. Owing to the opening of naviga-
ton the forward movement of wheat was
sundry shipments gave 2,s4S,eO0 bushels,
where the New York dispatches yesterday
claimed 100000 bushels Russian and Ar
gentine. Michigan millers at five different
points bought wheat in this market. In
diana dispatches said many millers in that
State will depend on Chicago wheat from
now till harvest. Minneapolis and Toledo
dispatches were bullish in tone regarding
New Orleans cleared for the day 4S7 600
bushels in wheat and flour, On this the
The rains over the Southwest and favor
able growing conditions over most of the
country gave the bears encouragement.
for May at 56lac to 56ssc.. followed by
dip to 5614Q5sasc, a fair rally to 565sc.. Be
564c and second bulge to 56sc. Later
the market held quiet at 561ac, where the
cent Improvement ro mi TT from Saturday Ms ''aii
There was a surprise in wheat the last
hour Baltic and su IN Try shipments were
the crowd broke May price to 56lsc. When
New York reported eighteen boat loads sold
amounting to 10000 bushels. No 2 red at
May price, there was an attempt to buy.
mhe May @snt up c re s r. f so
May and 5S1sc July. Scalping short sellers
were punished.
The corn market was weak during the
greater part of the day, but closed about
Lie over the closing figures of the day
opened at from 45ssQ45Sc, and then worked
down to 61sc, with recovery later to
4514Q455sc in sympathy with the advance in
wheat.
There a big business doing in oats
and the market closed 1sQ14c lower than
yesterday Liberal selling caused the de-
cline, although the buying was urgent and
at times general. Brokers principally were
taking stuff in, while Ream and Bartlett
Frazier were offering freely. Other selling
was good. but not confined to any one
party. May started at 2s7sc, declined to
to 277sc and rallied to 2SAc, at which price
1t closed. July started at 26% Q26Hc and
closed q. 271ac.
The trading in provisions was light and
fluctuations narrow. Pork ranged from
81. 321@Q12.25 and closed at $3.50, or sc de-
cline Tor the day. Lard is 021ac lower for
May and unchanged for July. Ribs showed
no change in either the May or July de-
iveries. -aas~azrass- sr-g3,1-,,..s3es
The receipts for tomorrow are estimated:
Wheat, 20 cars; corn 120 cars: oats. 165
cars; hogs, 1900 head
leading futures ranged follows: