The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-04-29
BROAD TRADE in WHEAT
MARKET ACTIVE AMI STRONG,
GAINING MORE THAN A CENT.
Corn Quiet. hut Firmly Held, Oats
with Independent strength-Irrc-
guinr Changes i'm Provisions.

CHICAGO. April 27.-There was a broad,
strong market for wheat to-day, and the
May option closed 1ssc over yesterday.
Corn, which closed unchanged TO rsc to &c
higher. was rather quiet. but the oats mar
ket showed considerable activity, closing
$dlsc higher. Provisions were dull. clos
ing 121sc higher TO a shade lower.
The market for wheat was the broadest
in weeks. May opened Il to nc higher at
7SAc 10 7312c. and without material re-
verses advanced firmly to 74lec and closed
1ssc higher at 1850. The days news de-
veloped a feeling of cheerfulness. To start
with, Liverpool cables showed a good adj
vance and the spot market revealed re-
newed strength. Receipts were moderate
and continental tidings were favorable to
holders of wheat. Broomhal reported that
the weeks sales to the continent aggregate
10000 o blu, 100000 being to Hamburg.
During the halliday session New York ex-
porters advised of AZ loads taken for for
eign account. while cash sales here. OF
mixed grades. reached a total of $1,000 bu.
Texas sent further reports of damages,
asserting that in some parts Of the State
the crop was a total loss. Other South
western points noted the baneful incurs;on
VI A'tOtSs iONdbiS I'm ~
the latter territory predicted the loss of
half the crop. At the opening large guam
titles of wheat were for sale. but this con-
dition speedily gave way in the face OF
the strong demand, and thereafter it was
found necessary to increase bids In order
TO fill buying orders. The volume of bust
ness was large. but was chiefly for the
local account. Seaboard clearances, in
~ - 49, 900 70 40 oD hn
Primary receipts were 445, 600 blu, compared
with $4,000 last year. Minneapolis and
Duluth reported 253 cars. against 26S last
week and 222 a year ago. Local receipts
were SO cars, one of contract grade.
For the consideration of the corn trade
there were reports of freer country accept
ances. 1t was said that country holders
who for months have evinced a disposition
to hold tightly to their corn were willing
of a sudden TO sell quantities a~ggregating
1000. 600 blu. The effect of this was to
create bearish sentiment in the pit, ana
for a few minutes Phillips. the bull leader,
did some active bidding to support the mar
ket. He was aided by an improvement In
the cash situation, and during the remand
er of the session the market held steady.
Business was comparatively light, many
traders having deserted TO the superior at
traction of the buoyant wheat traffic. May
corn sold between 477sd4S4c, and closed I'M
changed at As Lice; July ranged between
45esc and 457sd46c, closing Is TO i4c hlgner
at 45&c. Receipts were 10 cars TWO Oh
contract grade.
Independent strength characterized the
oats market. A strong spot market ana
delayed farm work were factors. Elevator
Interests. replacing Yesterdays heavy cash
sales, were the leading buyers at the start.
This demand was supplemented later by a
general commission house deman ana
Covering by pits shorts. May sold between
26ssd27c, and closed ss@19c higher at 26sg-
&c. Receipts were 22 cars.
Provisions were dull. Buying OF pork pv
n packer advanced that product and held
the rest of the list against the easier ten
dency engendered by a drop in hog prices.
July pork closed l2l2c higher at sl4o.1z;
.ulv lard unchanged at $S.O5MS.OI12, ana
July ribs a shade down at $7.95W7.9Ilh:.
Estimated receipts Tor Monday: wheat
CO cars; corn, $50 cars; oats, 2oO cars; hoss,
5000 head.