The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1898-04-11
LITTLE TRADE IN WHEAT
CHICAGO TRADERS PREFER TO
AWAIT MONDAYS DEVELOPMENTS.
Price of May Advances to S1.O6 on Ex-
Lower and Provisions Higher.

CHICAGO. April 9-Wheat to-day closed
at practically unchanged figures for July
and September, but cent higher for May
The latter was helped by good cash sales.
Trading was excessively dull, traders pre-
ferring to await the developments at Wash
ington Monday Corn and oats were easier
and closed about isc lower Provisions adj
vanced slightly.
With the exception of a little activity
around the opening, trading in wheat was so
dull as to be hardly worthy of mention.
There was a general inclination among
traders to await Mondays developments at
Washington before committing themselves
very much, and this and the absence OF
any incentive in the way of call quotations
confined trading almost altogether to a slow
and narrow scalping business. The opea-
ing was steady in July at S4$40S5c, COM
pared with yesterdays closing price of S424c.
There was evidently still some nervousness
among shorts on account of yesterdays
heavy buying movement, but the demand
from this source soon died away. Most CT
the spectators in the pit were bearishly in
clined on account of the favorable crop re-
ports from Ohio and Kentucky. The Ohio
State report put the wheat condition at e
against 67 last month, while the Kentucky
crop condition was placed at 1O1, compared
with 81 at this time last year. AS the
government crop report on Monday is eX-
pected to be favorable, there was a little
selling pressure for a short time after the
opening, in a decline to 1850. This was
removed and buying stimulated somewhat
by New York advices to the effect that for
eigners were good buyers there against lib
eral acceptances of yesterdays offerings,
and the prices to-day recovered to S5c, the
high point of the day. The local and North
west wheat movement rather favored the
bulls. Minneapolis and Duluth reported Ill
cars against 299 last week, and 2S4 u year
ago. Chicago receipts were forty-five cars.
The additions to contract stocks to-day
were lighter than of late, amounting to but
$4,000 bu, including twenty-eight cars from
regular sources and twenty cars and $1,000
bu from mixing houses. After the advance
to SIC in July, the market gradually sold Off
again to S4IadS45sc under realizing, and for
the rest of the session did not move Ac
either way. September followed July close
ly in the matter of fluctuations. There was
little revival of interest in May which
has been practically at a standstil all week
and a number of trades were made in it at
$1.06, a cent above yesterdays price. Lett
ers sales of 100000 bu to go abroad to-day,
big business considering the holiday
son; was apparently factor in this adj
vance. The market was almost at d stand
still toward the close July closed at 1880
s434c shade under yesterdays final price.
Corn was easier moderate amount of
trading. Belief that the short interest had
been almost eliminated by yesterdays buy
ing and rains in the corn country encour-
aged sellers, and prices ruled lower all day.
Freer country offerings, following the
higher prices was also weakening factor.
May ranged from 297sc to 295sc and closed
12c lower at 291sc.
Oats were very dull and practically with
out features of interest. The feeling in
general way was easier with corn. Bust
ness entirely of d scalping nature and
price changes very narrow. May ranged
from 25s4c to 252sc and closed a shade lower
at 259s@2534c.
Provisions were steady within narrow
range Firm hog prices caused small adj
vances at the opening Under moderate
selling by packers this was lost, but the
demand improved later, market ruling
steady to the close. May pork closed sc
higher at $9.S719, May lard 213c higher at
$500 and May ribs 21ac higher at $500.
Estimated receipts for Monday-Wheat,
100 cars; corn, 100 cars; oats, 200 cars; hogs,
10000 head.