The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-05-20
MORE WHEAT IN DEMAND
CHICAGO PRICES FIRMER AND
CLOSED AT MARKED ADVANCE.
France VIII Not ReimpOse the Duty
Until 0ctOber-PrOvisiOns Dull
and Lower Yesterday.

CHICAGO, May 19-The wheat market
took an upward swirl about an hour from
the close on a report that France will not
reimpose the duty on wheat until next Oc-
tober. Final figures were sc higher for May
and nc for July and &c better for Septem-
Der. Corn was strong to begin with and
much stronger little later, netting gain
of A@ssc for the day. Oats followed corn,
but closed unchanged. Provisions were dull
and easy and closed 171ac lower each for
pork. lard and ribs.
Wheat got to call price to-day. but closed
under the top. 1t was a short market, puts
having been good for several days. The best
advance was in the last hour on cable ad-
vices from Paris that the remission of the
wheat tariff might be extended TO Oct l,
the Chambers of Commerce having petit
toned for that action. Liverpool cables
showed decline for the day from 9sd to I'd
a Genital. The continental markets were tax
ing holiday. There was a continuance or
favorable weather in the West. The Price
Current was rather bearish. Joseph Letter
had a bid to-day for another heavy line or
wheat from the same people to whom ne
sold 100000 bu for shipment to France
about two weeks ago. Chicago receipts were
small, being 237 cars, against IL last
year. Minneapolis and Duluth had 437 cars,
compared with 4S6 cars the year before The
total of the domestic receipts at primary
Western markets was again surprisingly
heavy compared with those of last year,
to-day's being 1111,OO0 bu and last years
474, 900 blu. Atlantic port clearances of wheat
and flour were equal to 365 900 blu. The
opening strength here was added to by re-
ports emanating from st. Louis that COM
plants of rust in wheat were received there
from Missouri and of course as the local
sentiment was based almost entirely on the
unblemished reputation OF the coming crop,
shorts took fright Immediately on the
shadow of suspicion being cast. on it. The
market became strong and the previous
dizziness was succeeded by an hours activ-
ity. July had previous to that sold down
rose, respectively to $1.O7A and $3.50 on
the rust scare. Julyswheat opened &c high
er at $lO6 sold up &c $1O65s. declined to
$l.07 asked. September began Ac higher at
SS3sc, advanced to SSS4c, off to SSAc, rallied
to S95sqS4e and then reacted to SSbc at
close.
Corn was firm to-day compared with last
cent over Wednesday. There was a lot of
buying by the bull side, which yesterday
apparently sold out. Receipts, 626 cars July
opened &c higher at 353sc, advanced to 361sc
declined to 35asc and closed at 35ss @351ac.
Oats merely followed corn, being off early,
puI dl the CIOSe. lie cash DEMAND
was slack. Receipts were 2S2 cars. July
opened 1sc higher at 261sc, sold up to $3.50
261ac, declined to &c and closed at 261sc
The provision crowd traded on the theory
that there was selling by the packing
houses. Everything averaged a little lower
although the market was somewhat irreg-
ular. Hogs are up sc. receipts, $4,000 head
July pork opened 712c lower at 1920, adj
vanced to 1890 declined to $12 and rallied
at the opening, rose to $662G6.65, sold back
to $6.471s and closed at $6.4712Q6.50. July ribs
began PIC lower at $6371a declined to S. 1715
then up to s6,2212 at the close.
Estimated receipts for -morrow-Wheat,
goo cars corn, 500 cars; oats. go cars; hogs,
5000 head.