The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-03-20
WHEAT PRICES HIGHER
SHORTS COVERED FREELY AND
THERE WAS An ADVANCE or .-sC.
Fractional Gains-PrOvisiOns. Con-
tinued to Advance.

CHICAGO, March 19.-Prices on the
Board of Trade showed a general improve
nent at the close of to-day's trading.
Wheat was most active and shorts were
induced to cover freely near the close of
the session on reports of heavy export bus
mess at the seaboard and a varied assert
ment of var rumoTs from the continent.
May wheat closed &c higher, corn &c
higher. oats BQLc higher and provisions
2l2c higher.
Wheat opened at a slight advance on yes
terday's closing prices, the demand at the
immediate start being more urgent for May
than July. 1t might. perhaps. be more cor
rect to say that there was more pressure
to sell the latter delivery at that time.
The extra pressure on July widened the
difference between it and May from lc per
bushei as at the close yesterday TO a half
cent about half an hour after the trading
began this morning. The opening advance
had in the time mentioned been trans
formed into a slight decline in May and a
somewhat more decided drop of July. cor
responding to the widening the spread re-
ferred to. The initial advance was caused
by Liverpool quoting an advance of Ad per
GENITAL, which it was concluded must be be-
cause of a better c~onsumptive demand in
III 1nllSu NlIlSQOlN. III lhaN lC iIctN-
been no encouragement from here the day
before. The shade of weakness which sue
ceeded the slight rise at me start was at
hrst more the result Oh the actlon OF a rev
heavy local scalpers T. OF further news.
In the course or an hour a private cable
gram reporting I'd of the opening advance
at Liverpool lost, helped the people who
had espoused the bear side. May got down
to I3c and July to lz12Qf2ssc, and after re-
covering 1sc trade almost died out Tor the
time. May wheat was noticeably scarce
when wanted, and the demand for IL was
stimulated by the revival of export bus
mess. New York reported thirty-one boat
loads sold for foreign shipment, all but six
loads, however, for May-June Shipment.
to domestic millers. The early short sellers
bid actively for May, and near the close
that option brought I5lsc. May opened 1sQ
Ac, advanced to 15lsc and closed at loc pa.
Corn was firm from beginning to end.
The continued large c~learanceS from the
seaboard. although an everyday occur
renee now for some weeks, were more phe-
nomenally large as compared with any pre-
vious season, and helped the price con-
siderabIy. The reported exports to-day
were almost 1000, 00O bushels. May opened
a shade higher at Z4tsc. SOLD Tor a moment
Lice lower, then hardened and was around
25c in the last half hour. but reached 2oasc
finally and closed with sellers at that and
25c bid.
were slow and no news of any account de-
veloped. The feeling early was inclined to-
ward easiness, but firmed up later, when
wheat did likewise. May started unchanged
sellers at the top price.
Provisions were fairly active and firm.
Packers were said to be quite heavy, sellers
of ribs through brokers. May pork, May
lard and May ribs each closed at a gain
of 212c.
Estimated receipts for Saturday-Wheat,
IS cars: corn. 1S5 cars; oats, 10 cars; hogs,
Leading futures ranged as follows: