The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-01-15
AT THE OPENING
AFTER THAT CHICAGO WHEAT AC-
CURED A BULLIsH TONE.
Firmncss and Extended to
Other Provisions Clos
ing roe Higher.

CHICAGO, Jan. 1i-Wheat to-day again
got squarely above the soc mark, the May
option closing with a sc advance. Enor-
nous seaboard clearances and active buy
ing by foreigners were the principal factors
in the strength which prevailed all day. All
the other markets were co~rrespondingly
strong. corn advancing CSC. oats about the
same and provisions 10d 20c.
Inewheat the only weak spot was at the
opening. and was caused as usual by the
Liverpool market, which opened Sad lower,
although this was only in line with yes
terday's decline here. The price of May
here began over a range of from 79lzc down
TO 79hc, as against 793sG79Ac the previous
afternoon. The owest of those opening
quotations happened to strike the bottom
for the day. An advance TO S0Iac by 1890
o'clock was not a straight undisputed rise,
however. After touching soc it reacted to
1850. and even after that there were mum
erous short-lived drops of &c or SO. The
seaboard sent the bullish news and the
early buying orders; later in the day st.
Louis became an anxious buyer. On the
first symptom of the latter purchasing,
local sellers dried up and not until the
May price was well over soc could they buy
much. Local receipts were IL cars, against
As a year ago. Minneapolis and Duluth re-
ported pa cars. against 200 last week and
43 on the corresponding day of the
previous year. Closing continental markets
were steady to firm. New York wired the
foreigners were doing considerable buying
there and some very bulliSh news from
Australia was put afioat. the substance Of
sending out about II, 900, 600 blu per year
she had changed TO an importing country
and would want fully 100000 blu this year.
The axnnrf clea hogan on r1U in tho
day 10 affect local speculation sentiment.
Boston commenced proceedings by report
ing 10000 hu cleared; then came New York
with exports of 100000 bu and in the end the
quantity was swelled to the equivalent Of
$4,000 bu in wheat and flour together. That
includes $1,000 brls of flour from Newport
News. This was the active influence I'm the
last hour. May finally sold up to S0asc and
closed at S0iaGS0%c.
Corn opened firm but unchanged at 241a9
249sc for May and under the encourage
ment Of a strong provision market and the
advance in wheat. 1t got up to 24sQ25c
near the ne end OF the session and closed at
days movement was the enormous clear
ances from the seaboard. which included
5000 bu from Newport News.
Oats were active, firm and higher. The
feature was the buying by several Of the
large shorts; Selling was moderate and
scattered principally among elevator men
shade lower at 1S2Q1S9sc. sold to 1S1zc. ad-
vanced to 1850 and closed with 19dl9Isc bid.
Inc nrSt sale or july TINS year was made
to-day at 1sAc. Later sales were as high
as 197sG20c.
Provisions opened with a full continuance
of yesterdays strength and held ii through
experienced in a long time. Receipts ran
much below the estimate. and this, with
the marked strength displayed by the grain
markets, was very influential in starting
the shorts to covering. Foreign orders
were also prominent. AT the close May
pork was 2212c higher at $S.15; May lard 10c
higher at ll1o. and NAV ribs Tic
higher at S4.20.
Estimated receipts for Friday-Wheat, IL
cars: corn, $40 cars; oats, 16o cars; hogs,
10000 head.
Leading futures RANGED &c ~follnus.