The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-04-28
BROAD. TRADE in WHEAT
MARKET ACTIVE AND STRONG,
GAINING MORE THAN A CENT.
Corn Quiet, but Firmly Held, Oats
EuIar 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 &c TO Ac
higher, was rather quiet, but the oats mar
ket showed considerable activity, closing
sake 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
73hc 10 73zc, and without material re-
verses advanced firmly to 741hc and closed
1850 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
5000, 600 bu, 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 5000 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 incursion
of insects, notably Oklahoma. Bankers in
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. I'm
wheat and -four, were equal to +2 900 blu.
Primary receipts were 445, 900 bu. compared
with $4,000 last year. Minneapolis and
Duluth reported 253 cars. against 263 last
week and 222 a year ago. Local receipts
were 90 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 nave evinced a disposition
to hold tightly TO their corn were willing
of a sudden TO sell quantities aggregating
1000, 600 bu. The effect of this was to
create bearish sentiment in the pit. and
for a few minutes Phillips, the bull leader,
did some active bidding 10 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 477sG4SAc. and closed I'M
changed at As Lice; July ranged between
45Ssc and 457sG4sc. closing Is to Ac higher
at 457sc. Receipts were 175 cars, two OF
contract grade.
Independent strength characterized the
oats market. A strong spot market and
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 demand ana
covering by pits shorts. May sold between
26ssQ27c, and closed $sQEc higher at 2SHd-
&c. Receipts were PAP cars.
Provisions were duh. Buying of pork bv
a 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 121zc higher at S4.6l12;
July lard unchanged at S.OoGS.0l1a, and
july ribs a shade down at S.9547.S1n.
Estimated receipts for Monday: Wheat,
Go cars: corn, $50 cars; oats. 26O cars; hogs,
50. 900 head.