The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-02-27
WHEAT GAINS A CENT
THE CHICAGO MARKET FLOODED
WITH BULL NEWS YESTERDAY.
Important Bit of Information Was
the Decrease of Nearly J,OOO,0OO
Bushels in the Worlds Visible.

CHICAGO Feb. ga gain of 1 per cent.
in wheat to-day made a red letter day for
the bulls. A decrease of nearly 100000
bushels in the worlds visible stocks last
week, $500, coo bushels of it occurring in this
country, shipments from exporting coun-
tries, which fell 100000 bushels short of
supplying the weekly needs of the impor-
tant nations and evidence that American
wheat is now the chea-est in the world in
the shape of an anxious inquiry for it from
abroad, were all elements in to-day's
strength. Country millers bought 10000
bushels in Chicago of red winter wheat
and New York reported thirteen boat loads
The wheat market opened firm and ruled
strong during the entire forenoon. The
Liverpool market was called firm at 11ad
advance and with upward tendencies Paris
was quoted firm, Berlin 4 mark higher and
New York reported continental demand
for wheat. The English supply which yes
terday was reported to have increased $780,
600 bushels last week, it. was found had
decreased about 100000 bushels, a mistake
having been made in the quantity of flour
said to have been imported, which made
the above difference of about 100000 bushels
in the result. The total quantity ahoat
from all the exporting countries last week
fell 5000 900 bushels short of the estimated
weekly requirements Of the importing coun-
tries and about noon it became known that
the stocks in this country at the points in
cluded in Bradstreet's visible had decreased
28oS,O00 bushels, compared with a de-
crease of only 5000 bushels at the same
places on the corresponding week of the
year before. The one solitary bearish feat
in the days announcement was the re-
ceipt of 6l5 carloads of wheat at Minneap-
oils and Duluth, but that is all spring
wheat worth from sc to 10c per bushel
more than the article which is being
speculated in.
Corn started strong without anything par
tlcu3rlY
ly known concerning it. The receipts here
were 339 cars, compared with 305 estimated
yesterday, but the course of the market
yesterday was not quite satisfactory to the
local shorts and they Were inclined to
roads. which was one Of the reasons gwen
for the firmness of the day before, was
again referred to and appeared to- be one
of the actuating influences again this morn
ing. Some confirmation of the effect of bad
roads was found in the fact of the esti-
mated receipts for tomorrow being only
100 cars. st. Louis sent bullish dispatches
and buying orders. The opening price for
May was 45Ac and very soon 1t touched 45ss
0D61ac, reacted to 45c and then became
strong again, advancing to 4515c and clos
Ing, with buyers at 1885.
accompanying the higher prices. The adj
vance was influenced principally by the firm
effect resulting from Bradstreets report of
decrease in oats OF 1ou,Ooo bushels. May
opsned at at 2sc sold a zsc down Si to ssA
it closed, an advance of 1s@i4c since yester-
day. The receipts of hogs were $4,000, and
that. confirming yesterdays estimated light
run, gave the provision market slight lift
at the start of about &c in pork and 2lac
in lard At the close that gain was lost and
at $102s, opened at $i0.271a anu sold as high
as 5000, dropped back to So.15. but owing
recovered to $40 22ls and closed at that.
Lard sold at 6.251sc and closed at 6.471ac.
Ribs sod from 530G5.25c and closed at
5.2712c.
Receipts for tomorrow are estimated at
Wheat, IA cars; corn, 100 cars; oats, 1J7 cars;
hogs $1,000 head.
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