The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-02-10
WHEAT RECOVERED 5-8C
PRICES FORCED Up PRINCIPALLY BY
MORE ACTIVE DEMAND.
Corn and Oats Were Active and Firm
err, in Sympathy, and Provisions
Made Material Gains.

CHICAGO, Feb. 9.-Wheat to-day recov-
cred twice as much as it lost yesterday,
the May option closing at a full sc adj
vance. There was no particular occasion
for the advance far the days news
was concerned, but the bulls were once
more in the majority, and prices were
forced upwards. Corn recovered sc and
oats advanced 1kGHc. Provisions closed so
15c higher.
Wheat opened weak at from 7615c to 76Ac
for May. against 761A@76ssc. its closing
price yesterday. The Liverpool market,
which recently has displayed a good deal
of readiness to follow declines on this side,
opened at I'D decline. The chief reason
for this weakness here which may also
have been an influence in Liverpool, was
a statement made by the Liverpool Corn
Trade News to the effect that the worlds
stock of wheat and floIr, which decreased
10000 900 bu between Jan. 1 and Feb. ! in
1886, only decreased 100000 bu in the SIM
liar time this year. This statement was a
surprise TO the trade, as the reverse of
such result of supply and consumption this
year compared with last had been gen.
orally expected The later cables showed
recovery in the English market. Explana-
tons from the other side limited at the
political complications which might result
in case of war. This became a factor
in the market. The heavy Northwest re-
ceipts of 352 cars were offset by the -four
sales of $1,000 brls and the talk of mills
paying May price for wheat and prices
then started to mend. After the recovery
was fairly started the trade got bull helps
st. Louis messages revived the crop-injury
talk. Central Illinois points sent COM
plants of Il serious nature. New York re-
POI ted liberal exports for the day The
four ports cleared $4,000 blu in wheat and
flour. The buying on the foreign-war talk
before midday put the price of May to 171sc
Bradstreets report OF the worlds visible
showing only 5i9.0 900 bu decrease last week
caused the price to react to INC, where it
closed, the board adjourning at 1915 D. m.
to enable the members to attend the fu-
neral Of the late Hugh Mcmillan.
Corn was easier at the opening with
wheat. and frmed up later the same
account. Speculative business was rather
letter than the recent average, and was
port clearances were liberal-S23, 00] bu
May opened a shade higher at 2ic. sold at
237sG24c, reacted to 24Ac and closed steady
at 2402i6c.
Oats were fairly active and firm. The
selling pressure was less urgent, and shorts
showed u disposition to take profits. The
firmnesS in wheat and corn also helped
cats. May opened unchanged at 17Ac. sold
to 1112411Ssc and back to 17&sQ1712c, where
it closed.
Business in pork was of moderate di-
mansions, and prices improved considera-
by. Some of the Improvement was cue to
the disappointingly light hog receipts and
some of it TO the rise in wheat English
concerns were again good buyers at the
close. May pork was about 15c higher at
May ribs about 1Oc higher at $4d4O2H.
Estimated receipts for Wednesday -
Wheat. 10 cars; corn; $40 cars; oats, $50
ca RS; hogs. 10000 head.
Leading futures ranged &c follows.