The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-03-13
WHEAT JUMPS 2 1-8C
LIVELY SESSION OF CHICAGO BOARD
OF TRADE YESTERDAY.
BuIIish Government Report Alarmed
mand FoIIowed-Porl1 Is Up.

CHICAGO March 12-wheat gave a start
ling exhibition to-day After numerous err
ratio evolutions covering 114c range the
market wound up 21sc higher for May. The
bullish government reports started the adj
vance and scared shorts did the rest. Corn
gained 1sc for May and oats gained &c, but
provisions ended YEARLY, with pork up
slightly, and lard and ribs a trifie lower.
The government report was the whole
thing in wheat at the openeing, and there
being no possibility of any but a bullsh
construction being placed on the figures an
immediate advance of &c per bushel was not
unexpected. May, which closed yesterday
at $3.50, and apparently weak at that.
started this morning at from 56asc to 565sc.
Notwithstanding such unusual advance
over night there was less noise and ex-
element than accompanied the little Ac
jump on last Saturday morning. The small
er shorts covered their wheat. but the heavy
class of shorts looked on the government
figures with more than doubt Still there
was no radical reaction during the fore
noon, and such evidence of confidence on the
part of the bulls kept the shorts on the
rack. May slid off during the first ten
minutes of the session to 56Sc, but worked
gradually back again to $3.50, and such
moderate quantities as were offered for sale
up to noon found ready buyers at from
56Ac to 561ac. Gables were higher, French
crop damage reports were repeated and
Northwestern receipts were light Brad
streets visible statement did not affect the
market to any. great extent. It showed
stocks east of the Rockies 900 smaller
than week ago. and $4,000 bushels on the
Pacific side European af1oat showed an in
crease of 672,000 bushels, the net decrease
In the world for the week being 1884 900
bushels The prices did not give indlca-
lions of dropping materially, there being
shorts willing to take all the offerings of
long wheat up to about fifteen minutes of
the close at around STAG During the last
moments of the session. however the offer
ings became liberal and May closed
at 56Ac
The corn market was very strong at the
opening and continued firm throughout the
session, and for the same reason that wheat
was higher-the bullish government report.
Liverpool market was quoted Id per Genital
higher, and those matters, together with
shorts on the anxious seat all day, although
the opening bulge was too strong to last.
4, few trades were made at the opening at
be disposed of the price was 47c, and it did
not take long to break it down to 1880,
during the remainder of the day was be-
tween 1890 and 465sc. with 1880 the clos
Oats were strong. also. but it was all
through sympathy. Bradstreets report
showed decrease in oats of 122 900 bushels.
not assisting the advance. May started
A@ssc up from yesterdays last price at
29Ac. sold at 291se and again at 29ac.
Provisions were firm, but did not sus-
tain their opening promise in the extent
of the advance. May pork started with
rapidly following, but 1t declined gradually
to and closed at $l1.50. or only 24c over
yesterdays close. Armour & Co, it was
thought by the pit traders, were supply
ing through brokers all the demand which
cropped up. The English market was quoted
firm at Sd advance for bacon and Cd for
lard. The hog receipts We're $4,000, and
10000 are estimated for tomorrow, the lat
ter being the controlling factor after the
early advance. Lard and ribs opened
trife higher but closed with respective
losses of .0712c and .05c.
Estimated receipts for tomorrow: Wheat,
80 ears; corn 120 cars; oats, 100 cars; hogs,
40 900 st