The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-06
RENEWAL OF DEMAND
GAVE CASH GRAIN a NEW IMPETUS
AND WHEAT ADVANCED 3-SC.
Corn Was Stronger, Making a Small
Gain, While Provisions Were Less
Firm and Declined.

CHICAGO, April "a renewal of the de-
mand for cash grain gave wheat an up turn
to-day, and May wheat closed asc higher.
May corn closed 1sc higher, and May oats
unchanged. while provisions finished at de-
clines.
The first transactions in the wheat pit
We're at an advance of &c over yesterdays
close. and another Nc was quickly added
to the first There was a great struggle to
buy May at 55Ac up to 551sc, and then a
further and somewhat excited endeavor to
get rid of as much of it as cost over 55Ac.
after which the market became quite dull
and quiet, and the dulnes lasted through
out the remainder of the forenoon. The eff
feet. of yesterdays great cash trade
still working upon the minds of the traders
at the start, and that was the cause of the
opening scramble for wheat by the shorts.
When that demand was satisfied some of
the fresh developments of the day, which
were of rather bearish character, began to
have their effect. The seaboard clearances
were light The total exports from the
principal seaboard inclusive of New Or
leans. amounted in wheat and flour to only
$4,000 bushels. The receipts at primary mar
kest were heavier than on the day before.
and the weather bureau predicted quite
good rains for the winter wheat crop. Total
amounts received at the primary markets
was 10S,0O0 bushels, against $4,000 bushels
yesterday. The price was stoutly main
tanned after IL o'clock at about 5514c on the
renewal of the demand for cash wheat. A
sale was effected of about 100000 bushels an
hour from the close, with several other
parcels under negotiation and expected to
be worked before the close. A miller in
southern Ohio bid 5512c on board cars here
for thirty carloads of No red wheat,
which he needed for his mill. Those were
the influences the market during the
afternoon, and they impaired a very firm
undertone to the later trading. A sale of
1000 bushels of cash wheat from ter
minal elevators at Minneapolis to local
millers at 11Ac over May price the last
piece of news, under which May closed at
$3.50 bid.
Trading in corn was light. The confirma-
ton OF yesterdays estimate of very small
receipts started the price at about Ac over
the closing rate of yesterday. The opening
price substantially the highest paid
during the day, although corn had the sup
port of firm wheat market TO help 1T. Liv-
erpoOl was quoted firm and Il C higher. May
opened at 1870, sold sparingly at 46bG48c,
and dropped to 1880, closing a 4634c sellers.
steady. The range for the day was from
295s to 297sc for May, closing at 2934c. The
steadiness resulted from the similar feeling
in corn
within the last hour, when the previously
firm feeling gave place to weakness under
the free sales of Schwartz & Dupee. Hog
receipts smaller by 1850 head
expected tomorrow. That gave the market
its early firmness, under which PORK gained
15c 1t afterward declined Soc to So for May,
and closed with a net loss of l21ac at
S12.071a. May lard lost .0212c and ribs .0712c
of yesterdays values
Estimates for Saturday-Wheat, % cars;
corn, 125 cars; oats, 145 cars; hogs, 5000
head.