The Indianapolis journal., 1896-01-21
WHEAT AND PORK Up
BOOM IN CHICAGO MARKETS con-
TINUED MOST OF THE DAY.
The Leading Cereal Gained a Cent
Over Saturdays Prices, with Corn
and Oats i'm sympathy.

CHICAGO, Jan. 20.-The speculative mar
kets were all lively to-day, led in the first
place by provisions, but later wheat headed
the procession, and compared with the price
1t closed at on Saturday made gain of 1c
per bushel closing with net betterment of
$4c. Corn and oats were strong, in sympa-
thy with wheat and provisions, and the lat
ter looked for a time like runaway mar
ket. At the close pork still retained sc Of a
6Oc advance. Lard closed with a gain of 15c
and ribs pc.
There were good many selling orders ON
the market at the opening, and some of the
big professionals were marketing wheat
freely, some for the short account some in
the way of realizing, and some in the way
of hammering presumably to get prices off
in order to find good spot for buying. But
the weakness was only temporary. Liver
pool cables came higher. New York sent
there was a good foreign demand there.
Worlds shipments for the past week were
reported at only $4,000 bushels, or l, 100 OOO
bushels less than the theoretical consump-
ton. The amount on ocean passage de-
creased 100000 bushels. and. as New York
reported a decrease of 100000 bushels in
her stocks, the trade began to look up for
an. unusually large decrease in the visible.
In addition to this, there was big boom in
provisions-pork especially being buoyant--
and this helped to develop additional
strength in wheat; Shorts got considerably
trade broadened and the volume of local
speculation was materially increased. May
opened trife easier, at 605sq6O7sc, gradual
61Ac in about twenty minutes and before II
o'clock reached 61l2c, with heavy busi-
ness. On the bulge. however, there was
free realizing, and as the final visible sup
ply figures did not show as much decrease
as expected, the price went off about &c
by noon. Prices near the close got as high
as 61%c on rumor that 100000 bushels had
been marked for direct export, and, al
though the rumor had no basis in fact, the
market closed firm at 615s@61%c. Dispatches
from New York saying that gold was bring
that between 81 00O, 900 and 5000, 900 in gold
would go out by Wednesdays steamers,
had no effect on wheat.
Corn was strong, and large business was
done In the pit. The strength came in a
large measure from the strength in
the advance Sort of provisions which
opened unchanged at 2sNc, and after ,ad,
vancing to 1850 ii reacted again to 291sG
29Ac, but reacted to 29asc. with the bulge in
Oats were firm and higher, with a very
good business doing. The f1rmness was
caused by the. eagerness of the country to
get SUM-, ana sympathy Win wheat dnC
corn. May opened &c lower at zoe, sold ur
to- 20Ikc, back TO 20Ac ard 20ssc and closed al
20S4c bid, an advance of 14c since Saturday.
Another heavy days business was done ir
provisions, and the tendency of prices was
strongly upwards. Pork lard and ribs were
equally bullssh, and there appeared to be a
heavy short interest, which became serious
ly alarmed. May pork, which on Saturday
stopped at $780, opened this morning a,
s1O40 and at an early period of the session
1T was up to $1,000 and closed at $l0.S0 MAY
o~I nt41, laff - Ca&. Z Or
started at from 5.971k96c and rose to 6.05@
60712c, and was bringing 6021ac at the close
May ribs from 5221ac advanced to 54Oc and
closed worth 5.3715c. Disappointment at the
small run of hogs, compared with the num-
ber expected, gave the market it's strone
send off,
Estimates for to-morrow-Wheat, IS cars
corn, 800 cars; oats, 325 cars; hogs, 21,OOt
head.