The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-04-05
A HURRICANE OF BUYING
CORN SWEPT TO THE HIGHEST
PRICE FOR SIX YEARS.
with a Rush-Wheat Up Nearly a
Cent-The Bulge I'm Oats.

CHICAGO April 4.-This was a day of
gain and provisions was bewildering in
its enormity. The corn and provisions pits
were the centers of interest, but all over
the floor the effect of an increasing de-
n;and was felt. The news generally was
tullish, but it was overshadowed by the
irresistible buying fever. May wheat closed
s4d7sc. May 17sa2c. May oats 7s@1c,
and provisions from 221zc to 45c higher than
Mondays final figures.
May corn opened sc to h95sc over Mon
day, at 1890 TO 40c, sold to 41lzc, the highest
price since May, 1885, and closed strong
and buoyant 17sQ2c improved at 41asc. These
figures tell the story of a demand that
seemed to know no fulfilling. There was a
ciamor for July as well as May. and con-
trary TO recent practice, the shipping bids
followed the advance. Eight loads were
sold here for direct export-a bit of news
rescued from the total of the days bust
ness items. There was liberal profit-taking
losses by shorts. 1t was expected that Of
ferings, which were light early, would be
more free over 4Oc. but the market passed
scarcely tremor. There seemed to be no
leadership-just big general scramble for
corn for all sorts of uses. In the field of
news were the Liverpool advance which
was considered by shorts early; news of
serious damage by floods in Argentina and
the usual light country offerings. At 4lc
offerings for profit We're more liberal and
the price was coaxed back to 4O5sc, but
they were hungrily swallowed and the
market shot up again to 411Ac, closing
shortly after this point was reached. Lo-
ca! receipts We're 722 cars Atlantic port
ClearanceS were 1,112,000 blu. Primary re-
ceipts were l,O6OOOO bu. compared with u.s.
100 year ago.
May pork opened 25@55c over Monday
at sl3Q133O sold to s1345, the highest price
since 1894, eased on profit-taking to 1910
and closed 45c improved at $13.20 Fluctua-
tions in lard and ribs were less wide. May
laru ranged from S6.671z to $685. closing
221ac up at $50, and May ribs from Sc so
to 1922. with the close 271zc better at
sC:sOa6S21a. As in corn. the session was one
OF great activity and strength. An adj
vance In hogs of zoe since Monday, the
bullish showing of stocks, and the upward
trend of corn, were the main influences
ihere was heavy demand from commits
sion houses and packers, and shorts were
compelled to do a deal of covering The
trade, much of the time, was too large to
be intelligently followed
AS q speculative market wheat broke Its
own record for year, so those in the pit
said. The trade was excited, the pit
crowded, but the general feeling in the
sufnciency OF stocks to meet all demand
Vas such that the excitement did not ap-
preach the wildness ap2arant IN corn and
provisions. May opened CSC higher at $40
6issc, influenced by higher cables and re-
Forts or damages TO crops in France
Largely under the influence of the corn
and provisions tho market rallied later to
6SAc. The bulge met profit-taking and May
eased back to 67%c, but steadied and closed
strong, %Q7sc improved, at Csc. St. Louis
and the local talent both were short and
bad to cover The Northwest sold. The
hears were not without statistics to bring
forward in support of their positions, but
buying. Atlantic port clearances in wheat
and flour were 10000 blu, all but 10000 of
1t in -four. Primary receipts were 665. 600
bu, compared with $4,000 last year. Min
neapolis and Duluth reported ga cars,
against All last week and 300 a year ago.
Local receipts were los cars, one of con-
tract grade.
There the same experience in oats
as in the other markets. general de-
mand, big enough to overshadow all else.
One hundred thousand bushels were re-
ported sold for export. The strength in the
reighboring pits was the chief influence.
of July. Local receipts were AL cars.
May ranged from A5sc to 2512c and closed
| kd1c over Monday at 25Ikc. July sold from
244c to 25ss@251sc, closing 11sQ1Ac i'm
proved at 25ssc.
Estimated receipts to-morrow-Wheat.
81 cars; corn, 600 cars; oats, go cars, hogs.
$1,000 head.