The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-02-06
ALL GRAIN ADVANCED
WHEAT LED THE MOVEMENT, GAIN
ING ONE CENT FOR MAY.
Bulls Considered 1t Time to Buy, and
the shorts Were Caught in "a Tight
Corner-Proyisfons Up.

CHICAGO, Feb. 5.-Wheat turned vicious
~ on the bears and short sellers to-day,
gaining 1 cent for May. The strength came
from better cables and reported buying by
foreigners at the seaboard. May corn
closed &c higher, May oats sc higher and
provisions at advances.
May wheat, which closed yesterday with
sellers at 52s<c, was wanted at the opening
this morning at from 53c to 531sc. 1t rose
to 5SAc. Later, after selling down again
to 53hc, it advanced to 534@535sc, and after
another slight reaction it rose to $3.50, and
was bringing the latter price about 1:30
O'Clock. The Chicago receipts were q cars,
against 11 a year ago, and Minneapolis and
Duluth together reported 1876 cars, COM
pared with 333 last year. The total amount
received at primary markets was 15S,000
bushels, compared with Us, 600 on Tuesday
a week ago. and with 4O2, 900 bushel on the
corresponding day last year. A most sig
nificant feature of the receipts at winter
wheat points was that not a bushel was
received at ST. Louis, and shipments from
there were $4,000 bushels. The export clear
ances from Atlantic ports comprised 10000
bushels of wheat and the equivalent of u.s.
600 bushels in the shape of flour. The sta
tistical figures of the domestic movement
were favorable to holders. The foreign
orders to buy were, however, the most
potent agents of the strength displayed.
New York reported acceptances of cable
offers made yesterday and fresh bids at 1c
per bushel advance over the limits set on
Saturday last. Firm with upward tendenc
was the general tenor of advices from
Liperpool. Paris quoted a moderate advance
in remote futures of flour, with wheat un-
changed, while Berlin quoted II mark gain
in June wheat and no change in nearby
futures. The buying here was fair and
May closed at 53%c.
The corn market started without any bias
in either direction. 1t soon, however, began
to develop considerable strength and in the
end led the advance in the grain markets.
Receipts show a tendency to run light, with
on that account. The cash demand was
good both by local consumers, warehouse
men and shippers. Receipts to-day were
29 cars and to-morrow's estimates are only
100 cars. Primary market receipts alto
gether were only $4,000 bushels, compared
with $4,000, bushels on the corresponding
day of the year before. May sold at the
opening at 427sc sparingly, but more freely
at 43c. 1t worked steadily upward to 44c
and closed there.
Oats participated in the general frmness
and fluctuations were principally influenced
by the higher prices in the other markets.
A fair business was transacted. There We're
not many more oats offered in the cash
market than could be easily consumed, and
with strength the principal feature here, it
extended quickly to- the speculative crowd,
The stocks of contract grain in Chicago
elevators showed a decrease of 200 BUSH
els since last week, and this was credited
with assisting the ADVANCE. May sold from
2SA@29c and closed at 28B@29c.
The provision market was firm, but dull.
The receipts of only 1900 hogs instead of
26,OO0, as estimated, gave the market a lift
at the opening, and ..e bullishness of the
grain markets kept it advancing in a quiet
but determined way during the remainder
of the session. May pork, which closed yes
terday at 800, began at 1896 this morning
and ended at $40 bid, after sales up to $10.05.
Lard and ribs closed with csc gain each.
receipts for tomorrow: Wheat,
"a cars; corn, 100 cars; oats, 107 cars; hogs,
$4,000 head.