The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-04-13
ALL MARKETS JUMPED
EVEN 2-CENT STRONG ADVANCE IN
NAY WHEAT At CHICAGO.
Firmness Extended to Other Grain
and Provisions. Pork Closing zoe
Higher on the Day.

CHICAGO. April 1.-THE bulls on the
Board of Trade were in high feather to-
day. Prices were advanced all along the
line and the bears were called on to settle
TO the extent of &c in May wheat. 1ac in
corn, sc in oats, zoe in pork. 7lsc i'm lard
and &C in ribs.
The order Of the day in all quarters
seemed to be covering up of short con-
tracts, the result of the recent hammering
process by which the bears forced wheat
for May delivery to 641ac on Friday last.
There was a fair trade and moderately ac-
tive market in wheat during the early
hours, but the interest increased consid-
erably as the session advanced. The feel
ing was firm, with first sales at a trife ad-
vance, and soon rallied 1Ac more. weakened
lc, rallied lac. changed some and closed
1ss417sc higher. The early strength was
due to the advance in Liverpool of Id. Ber-
lin also coming higher. There was a de-
crease on ocean passage of $50. 600 bushels,
and the worlds weekly shipments showed
some reduction at 2,373, 900 bushels, against
4.454, 900 bushels last week and 4.64O. 900 BUSH
els a year ago. st. Louis was strong and
higher and was active on the buying side
here and had considerable to do with the
rally. The weather map showed more rain
in Nebraska, and was looked on as unfa-
vorable. While war possibilities were not
quite so certain, there was a feeling of I'M
easiness among shorts" and many COW
cred. The government crop report was APP
parently not much or a factor, and Sug-
gested a crop OF about 35, O.0N bushels.
northwestern receipts were liberal and
were something or a factor. The visible
showed a decrease of 900, 100 bushels, against
a reduction of LOIS. 900 bushels last year.
Total quantity now in the same is 81, zoo, 900
bushels two years ago. Beerbohm cabled
tho - xwns liz g. $780,. 49,
the trade was inclined to discredit the
same. The English visible decreased TAI, 900
bushels Advices from the Northwest as to
spring seeding were rather bulliSh, report
ing that rain and floods would greatly de-
lay the same. Closing Liverpool cables
quoted futures a4q112d higher. Crop ad-
vices from France were again unfavOrable.
Exports were moderate. at 200, 900 bushels,
of which 1000 bushels was in flour. The
market advanced quietly later in the day
on coverings by shorts, room traders hav-
ing sold quite freely on the previous de-
cline. st. Louis sold up sharply, and this
market followed. Flood reports from the
Northwest were apparently the main fac
tor. Receipts at Duluth were 21 cars and
at Minneapolis 391 cars, a total of 662 cars,
year. May opened a shade higher, at 66Q
661sc, advanced to 61Ac, declined to 66i4c,
then turned strong and moved up rapidly
TO 6SAc, resting at 6lsq6Sc.
In corn. as in wheat, the shorts covered
freely. The sources from which the shorts
always expect TO draw their supplies had
Ilt up " a COilSNISl Dit tRltHl III OiN
noon. When from 2312c the shorts had
gradually advanced their bids to 2iAc they
got all they wanted and more. The visible
decreased 35l 900 bushels. compared with a
decrease of 142, 900 bushels the year before.
May opened a shade higher, at 239sc, ad-
vanced to 2i4c and closed at 24d241sc.
Oats opened with a sudden advance in
prices. accompanied by a very buoyant
feeling, which lasted throughout the entire
session, shorts maintaining the firmness
with free buying. sympathy with wheat
influenced the market to some extent, but
the main cause for the upward tendency
came indirectly through the continuance of
the wet weather and late seeding. A de-
crease of 329, 600 bushels in the visible sup
ply and a falling off in local stocks of 49,
600 bushels helped the advance. May opened
unchanged at from 16Sc to 16Ssql6i2c, ad-
vanced to 1880 and closed at 164c sellers.
In provisions trade was fairly brisk and
prices higher. Hog receipts We're 10000
head. instead of $4,000 expected. The higher
prices for wheat. corn and oats had a nat
urally stimulating effect on the provision
trade. May pork, which closed Saturday
at $S.25. opened to-day at $S.4212, sold about
the Same time at $40, advanced TO $S.771R
and closed at $s.55@S.571s. May lard. which
closed Saturday at $4.20, rested to-day at
$4.2715, sellers. Ribs. from S4.67la early in
the session. rose to $4.721lf, which latter was
the closing price. -.
Estimated receipts for to-norrow-Wheat,
6 cars; corn, 230 cars; oats, go cars. Hogs,
1900 head.
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