The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-04-03
FIRMER WHEAT MARKET
BETTER CASH DEMAND GAVE MAY
OPTIONS 1-2C ADVANCE.
Both Sentiment and Operators Fa-
vOred the Bull side of the Market
Other Grain Was Weaker.

CHICAGO. April 2.-wheat was firm to-
day. the May option closing at 2sG1ac ad-
vance. A somewhat better cash demand
and crop damage claims were factors in a
dull market. Corn went the other way,
closing &c lower. Oats closed a shade low
er and provisions unchanged to I0c lower.
Opinion as gagged by the early fluctua-
tions in the wheat market was d trifle more
favorable 10 the bull side than at the close
of yesterdays session. Liverpool opened
without any change. the Northwestern re-
ceipts were smaller than they have been
running of late and the poor condition of
wheat in Missouri as reported yesterday by
the agricultural bureau of the State re-
ceived some confirmation from private tes-
timony. Duluth and Minneapolis receipts
were 2S9 cars, compared with 4SS the CORE
spending day of the week before. Chicago
received only 9 carloads. May opened at
rosa 7034c, against yesterdays closing OF
7012c, and during the first two hours OF
trading fluctuations ranged from 16sc to
7Os4c. with July keeping step at SIC per
bushel behind the others. The inquiry from
country millers was more in evidence than
it has been for some time. Before II o'clock
SO, 900 bushels had been sold for prompt ship
ment, and the most notable feature of the
country uGllldliu q bloN ~ NoS A"A VI
No. 2 spring and that 10000 bushels goes
West to Kansas City. One of the items of
news which helped the bears was the esti-
mate sent from Duluth that stocks there
would show an increase tor the week or
loo. 100 bushels and Minneapolis would only
decrease 2UU. go bushels, which Indicated a
probable increase in the visible or at least
a very small decrease, closing cables being
of a rather mixed character. The market
ruled hrmer after u O'Clock and May
showed a tendency to improve faster than
July, indicating apprehension of the result
among short sellers should the country de-
mand for spot wheat show much further
increase in view of limited available supply.
The foreign adviceS were not only unfavor-
French crop. but the Russian crop was also
said to be unpromising. The market had
several violent fluctuations in the last half
hodr, May dropping suddenly from ioS4c 10
10$sc and recovering again In a lew min
utes to Tic. May closed at 701sQ7lc and July
at 701sq I0Ac.
dependence of wheat by declining when that
market was advancing. The market was
strong and somewhat higher during the
early hours, helped by light receipts, wet
weather all through the corn belt and good
exports-56i. 600 bushels. Later talk from
Illinois and better offerings and realizing
by longs caused a decline. May opened a
shade higher at 25Q25lsc, sold at 25lsc, then
declined 10 24ss424a4c, closing easy at zt94c.
The market in oats was OF much the same
character as corn, although less ACTIVITY
was shown. Prices were firm early, but
when corn declined oats immediately 1ol.
lowed. Fair support developed and some of
the decline was recovered. exports We're
Il. 900 bushels. May opened unchanged at
11ssd171hc, sold between f12c and 1Il4c and
closed at Use.
Provisions were very dull: TRANSACTIONS
were small and at long intervals, with
prices on the decline from the start. The
weakness must have been for reasons pc
culiar to the speculative features or the
deal. for the usual causes to which the
traders ascribe higher or lower prices did
not suggest lower prices. At the close May
pork was lOc lower, at s.. 4712; May lard un-
changed at S4.25, and May ribs &C lower, at
81. 621ad4.65.
Estimated receipts Saturday-Whea 10
cars: corn, 1f7 cars; oats, la cars; hogs,
II. eco head.
ooJ;nn f,,trroS ronoad q c follows.