The Indianapolis journal., 1897-05-01
QUICK BULGE IN WHEAT
AN ADVANCE OF / 1-4C IN MAY, IN
USUAL FOR 4 CLEARING DAY.
Firrnn ess Extended 20 the Other Mar
thing TO Thursday's Prices.

CHICAGO, April 3O.-Wheat closed firm
to-day at an advance of nc for May and
1870 for July. This on delivery day." is
something unusual for May. The chief fac
tor at the bottom Of the confident buying
was probably continued reports of retro
gression in the growing crop. Germ, oats
and provisions all added a little TO the pre-
ceding days closing prices.
Wheat opened with an appearance of
irmness, yesterdays closing prices being
bid and sellers scarce, but the strength
thus displayed was of short duration. July
commenced with trading at 702sc and 701ac,
not much pro1urable at the lower quotation,
then improved to 7034c and followed that by
a decline TO $3.50. A quick reaction of 12c
succeeded the decline. The second upward
turn was carried a little farther than the
immediate 1sc recovery, when New York
kilograms began to comment on a conti-
mental demand for spot wheat which very
early in the session was reported to have
absorbed anywhere from thirty to forty
boatloads between New York and Balti-
more. The price, on that information,
climbed up to 71Ac. Chicago receipts were
only four carloads. Minneapolis and Du-
luth got 37S cars, against 325 a week ago
and 468 the corresponding day of the year
before. Liverpool quotations at the open
ing showed no change. San Francisco tele-
grams reported dry weather in California
and no prospect of rain, which impressed
the crowd considerably, Delivery of wheat
on May contracts, which begins tomorrow,
had apparently no terror for the people to
whom the deliveries were coming. On the
contrary, the elevator people were taking
what May wheat was for sale at Ac over
July. After touching nAc reaction to
70%c enSued on realizing by ScalperS, who
are slowly coming into the market again:
But during the last hour the top prices of
the day were made, July advancing to 717sc.
Offerings were not sufficient to- satisfy the
demand, and especially after the builish
Modern Miller crop report was issued. The
closing price was 71%c asked.
Corn was quiet, with most Of the business
in the way of changing from May to July.
There was some weakness for a time, but
the market followed wheat when that GER
cal started upward and held firm for the
rest of the session. Exports were rather
25Ac, sold at 251sc, then advanced TO 253sQ
2512c. The closing price was 259sc.
There was an active business in oats,
mostly changing Of May to the more de-
ferred futures Prices were firm, following
the course of corn. Exports amounted to
233, 900 bu. July opened 1sC lower at 17%c,
advanced to 1Slt1S12c and reacted to 1850
1Sc. where it closed.
Provision dealers We're largely occupied
in changing over May deals. The market
started firm and slightly higher with the
improved hog market and good advance
followed. This was not all sustained, but
the market was firm a the close Iith July
pork NC higher, at SS.6212; July lard, PIC
higher, at S4.20Q4 2212, and July ribs shade
higher, at $4.70047212.
Estimated Receipts for Saturday-Wheat
cars; corn 150; oats, 245; hogs. 1900 head.
Leading futures ranged rs follows