The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-04-26
JUMP IN WHEAT PRICES
CASH ARTICLE ADVANCES TO Sf.2O A
BUsHEL AT CHICAGO.
All Markets Active and Higher. Fol-
lowing Rapid Gains Scored Oh
Foreign Markets.

CHICAGO. April 25.-An extraordinary
and almost uninterrupted rise took place
to-day on the Board of Trade in the values
of grain and provisions May wheat closed
sac higher than Saturday. July gained 33sc
corn and oats 1hc, pork 45c per barrel and
lard and ribs 10d12c each.
Sensational advances in foreign and out
side domestic markets, a decrease of over
100000 blu in the American visible wheat
supply and small worlds shipment; caused
the upturn in wheat, which all other mar
kets followed. Although Liverpool opening
cables to-day quoted wheat at sac a bushel
advance, this market displayed a halting
tendency after the first rush of trading and
throughout the session gave evidence of
heavy liquidation hard spots. While in
the first half hour of the session Liverpool
had risen the equivalent of sac a bushel
New York 2hc, Minneapolis and Duluth &C.
Chicago in the same time was only up &c.
English country markets showed gain of
TIC a bushe, since Friday last and Mark
Lane Nondon) 3s4c, while Berlin was quoted
21Ac q bushel higher than Saturday. Liver
pool continued to climb until at the close
the futures showed a gain of 512q6Ac per
bushel. Duluth and Minneapolis added to
the bears torments by reaching point Ss4c
above Saturdays close. This market final
ly got started and from around Gle rapidly
climbed to 93c. May, which had started
only 1c higher at Sill, suddenly jumped
with &c between trades to $1.2O, the highest
in several years. Chicago receipts were 141
cars, against 10 last year. Minneapolis and
Duluth received 492 cars, against SOB the
previous year. OF Chicago receipts SO cars
were contract The Atlantic port clear
ances of wheat and flour for the day
amounted to 612OO0 bu. The worlds ship
mens to EuroPe as1 Too W Seo h were of fb
The quantity on passage was reduced $751;
900 bu last week. The domestic visible sur
prised the trade by showing decrease OF
100000 blu, against a reduction for same
week of last year of only $4,000 bu- The
heaviest decreases were at Chicago, MIN
neapolis, Duluth and New York. May
dropped back to SLY, but rallied to $1,2O.
closing at 81. 192. sellers. a net gain OF sac
After the advance in July to 93c,. the market
became very feverish, selling Off to SIC. up
to 93lsc down to 9214c, then up to 92alc, clos
ing at 9215c. Five minutes after the close
9315c was paid on the curb for July
the session. Sales for export of about
100000 blu, an advance at Liverpool OF l12c
and of 2Ac at Mark Lane Londonl were
the chief factors. The visible supply de-
creased 3,26S,O00 bu; on ocean passage de-
creased 2,480OG0 blu. July opened AQ%c
higher at 4112c, advanced on neaVy tradiIg
to 351sc. The close at 349sc. Local receipts
were 443 cars.
Scarcity of offerings in oats, advances
abroad and the strength of wheat and corn
helped the oats market early and contributed
to an dvance of 1Bc in May and 1Ac IN
July. The visible supply decreased 81 600
bu Local receipts were $50 cars. July
opened 1s@Ac higher at 24asc, advanced to
25asc, closing at 2514@25ssc bid.
Provisions were strong and active: War
news and heavy outside speculative. buying
were the chief factors. Packers bought
sparingly. Liverpool was up from cd TO Is
on bacon. after a rise of is Cd on Saturday.
july pork sold between s11. 1O011.47, closing
with a net gain of 45c at $l145 July lard
a net gain of 121ac July ribs sold at $3.50
6567. closing at $780, a net gain of lOc.
Estimated receipts for to-morrow-Wheat,
24,O00 head