The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-04-12
MAY WHEATGAINED11-8C
MARKET FACED ABOUT ON REVIVAL
OF FOREIGN WAR GOSSIP.
Bears Surprised by the Sudden Life
Displayed by the Bulls-Other
Markets Score Advances.

CHICAGO, April 10.-Wheat to-day exc
cuted another of the somersaults which
have characterized that market of late. the
May option closing strong at a 1lsc adj
vance. The warlike turn of affairs at the
Greek frontier scared shorts and their COW
ering made very strong market all day
Corn, oats and provisions were similarly
affected, corn advancing CSC, oats 1zc and
provisions 7l5d15c.
The bears in the wheat pit were disagree
ably surprised at the opening. English
consols declined Sic for money and 9-16 for
the account on the morning newspaper re-
ports of the Greeks having crossed the
Turkish frontier and encountered the troops
of the latter power. A European war has
on former occasions made so many for
tunes for bull operations in wheat that the
merest shadow of the possibility of such
another chance makes them grab in a body
for the lucky card May wheat, which was
only worth 6i7sc yesterday afternoon,
started with buyers at from 66is to 6614c,
and kept backing up and filling within NC
per bushel of the opening figures during
the greater portion of the forenoon. Liv-
erpool opened with a gain of I'D. Minneap-
oils and Duluth reported 2S4 cars against
2o6 week ago and asa on the correspond
ing day of last year. Chicago receipts were
seven cars. Bradstreet reported the week
shipments of wheat and flour at 2,O37, 900
bushels, against 2,464,0O0 bushels on the
week before and 900 bushels year ago.
Reports about prospects for winter wheat
and concerning spring wheat seeding were
both bad, and to many it seemed that they
were bad enough of themselves to warrant
all the advance in the days prices. and a
good deal more. A report from ST. Louis
was received to the affect that the State
the condition at 80. The government
report to be issued this evening was eX-
pected to be about in line with the Cincin-
natl Price Currents estimate of 300, 900 600
to 310000,000 bushels as its total The con-
clifton of 81 for the whole area would indi-
cate crop Of about So5, 100000 bushels on an
May wheat was from 65a4c to 669s Q66l2c, and
the closing price was 66c. July fiuctuated
The general impression with regard to, the
visible for the week is a decrease of about
i, 900 bushels.
Corn ruled firm all day. The market was
influenced chiefly by the stronger wheat
and the war news. and there was an active
covering by shorts, with little for SALE Ex-
ports were small. being $1,000 bushels. May
opened asc higher. at 233sc. sold at 2314c,
then advanced to 23$4c, closing firm at 23la
Q23%c
Oats participated in the general better
feeling, and unusually large business was
credited to the days market. The main
feature was the buying of shorts. especially
those who sold yesterday. Exports amount
ed to 50, 900 bushels. May opened &c higher,
at 16hG16Ac, advanced to 161ac and closed
at 1855 a161ac.
Provisions were very firm on the war
scare and on light hog receipts. The mar
ket opened at a slight advance, and under
good buying by spackers prices advanced
steadily. English packers sold pork to a
limited extent. At the close May pork was
15c higher, at $S.35; May lard 71ac higher, at
s4.2o. and May ribs about 1212c higher, at
S46715.
Estimated receipts for Monday-Wheat.
cars: corn, 40 cars; oats, 22o cars. Hogs,
%. 900 head