The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-01-06
BULLISH MAY WHEAT
LEADING CEREAL TOUCHED 60 3-SC,
HIGHEST PRICE IN WEEKS.
The Strength Extended to Other Grain
NEUTRALITY-SUSPICIOUS. Advanced,
but Later Lost 1t All.

CHICAGO, Jan. 4-The grain markets
were all active and strong to-day, the bull
ish tendencies of traders being especially
apparent in the wheat pit. May wheat
touched 6Ossc, the highest market for some
time, and closed with net gain Of &c over
yesterday. Corn and oats advanced 14c and
1sqAc. respectively. Provisions. after open
ing strong and higher. lost nearly all the
opening advance, and closed practically IN
changed from last nights closing.
All the conditions and most Of the news
favored better prices for wheat. Cables
came higher. the improvement being at
tributed in the dispatch to the political news
the trouble in the Transvaal. The exports
from both coasts for the week were 1866, 600
blu, or fully 100000 bu more than a week ago
and 100000 bu more than year ago. The
total available supply Is 100000 blu, or
100000 bu less than year ago. The
weather conditions, too. are unfavorable, as
considerable crop areas are unprotected by
snow. The indications seemed to warrant
the conclusion that there would be a large
decrease in the visible supply. The shorts
showed increasing alarm at the outlook,
and there was active covering, while good
many liberal traders, who have heretofore
been bearish, seemed disposed to change
their position, and take the buying side. SO
the advance was easy. but soon reached a
point which started free realizing, under
which there was some decline. Wheat got
hoist of from 1zc TO s4c per bushel as soon
as the opening signal permitted the buyers
to shout their bids. The first transactions
were at prices varying from 597sc to Coo, and
after some active trading at those prices
for few. minutes, the offerings being
all s absorbed omn it s Sestv Pines quickly
long wheat were disposed of at from Coo
up to 6019c The market here was very
nervous, but within a narrow range after
it had made its bulge to 60l2c for May and
after that were confined to 597sc for the
bottom Of the range and 601sG60t4c, with
Coo its resting place for the day.
Corn was again dull and trading confined
to small Scalping operations. As the fiuc-
tuations in May, the active trading month.
were confined within the range OF 2S1sc and
2SAc. the opportunities for scalping profits
were of course slender The severely cold
the firmness, which resulted In kc advance.
May, which closed at sc yesterday. sold
to-day at 2SAc, and 2SA sellers was the
state Of the market at the close.
firmness In corn and the cold weather had
their natural influences on the oats mar
ket and 1t ruled firm end closed with an
advance Of 3-16c in the May delivery. Ele-
vator men were free sellers against pur-
chases In the country.
Provisions started very strong because OF
an advance of &c In the price OF hogs at
the yard, but weakened on an unexpected
of hogs next week. Pork retained PIC Of
an early gain of 12Hc for May and i'm
proved 7iac for January. Lard and ribs left
off without change since yesterday.
Estimated receipts Monday-Wheat. 100
cars: corn. $50 cars: oats. ITO cars; hogs.
5000 head