The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-05-03
WHEAT OUTLOOK BETTER
AMERICAN POSITION STRENGTHENED
BY THE FOREIGN SITUATION.
Corn Closed Unchanged, Other Cereals
at an Advance-PrOvision Mar
ket Went to Pieces.

CHICAGO, May 2.-The wheat market
was dull but firm. helped by higher Liver
pool cables and a bullish feeling among
traders. closing AQAc to Ad%c improved.
Corn closed unchanged and oats sc to &C
improved. Provisions suffered a sharp
break closing 171sc to 421zc lower.
Considerations presented at the beginning
of the session In the wheat pit were the
strength of Liverpool dry weather in the
central area and frosts In sections Of the
West and Southwest. following rains in
Nebraska and Kansas. The Liverpool ad-
vance was encouraging. 1t indicated an APP
probation of the general bullishness of the
situation, as viewed from an American
standpoint. They appeared to have con-
cluded. as has the bull party in Chicago.
that Argentine shipments had passed their
weekly maximum, and that with only that
country and America to depend on for sew
en-eighths of their wheat till next Sep
TENDER there was danger in lowering their
bids below the present level. There was a
fair cash business hereto, 900 bushels-and
export bids were nearer the market New
York reported rs loads taken for export
The speculative trade was light and dull
Early deliveries remained liberal Brokers
acting for elevator people were active
changing-buying May and selling July at
1%c difference. May, therefore was rela-
lively stronger than July. First figures
were nc over Mondays close, and there
was a small advance early on covering by
shorts and a fair export demand but the
| bulge gave way later on freer offerings,
but part of 1t was recovered before the
end of the session. Seaboard clearances in
wheat and flour for two days were equal to
900 bushels Primary receipts were 444.-
| 600 bushels, compared with 100000 bushels
last year. Minneapolis and Duluth reported
| 305 cars, against 260 last week and 2SS
| year ago. Local receipts were % cars, none
| of contract grade. July opened asQ1sc over
Monday at 6S5sc to 67%c, sold between 67a4c
and 67ssc, closing hdAc improved at 67as@
671sc. May sold between 657sc and 6511Q65ssc.
and closed Aq3sc improved at 65tsc.
Corn was firm. but not generally active.
Gables were higher, receipts light-144 cars
| here-and the wheat strength was an early
support. There was a fair trade, but the
| ing the feature. There was a slight mar
| rowing of the MayJuly difference. Deliv-
cries were about 100000 bushels, mostly
taken by two leading bulls There was
| good export demand, New York reporting
| 60 loads taken for foreign shipment July
sold from 41Ac early to 4o7sc, closing I'M
| changed at Ale.
Oats were firm, May especially Ele
vator people took May with such persist
ence that the spread narrowed from 1lsc to
| sac. The cash situation was declared i'm
proved, the export demand good, and there
was no apprehension over dry weather. De-
liveries of May contracts were 10000 BUSH
els. Receipts here were 11S cars. July sold
| from 23Ac to 235sc. and closed sc higher at
] 231kQ23Ac. May closed &c higher at 227s@
| 23c.
The provision market was weak, and the
| trade in hog products generally quiet. al
| though there was squirt OF nervous &C
| tivity early. The opening showed a severe
| break and great irregularity In prices. Hog
receipts were heavy and the market at the
yards weak, two considerations at the be-
| ginning of the session. There was no par
| ticular demand. and plenty of stuff for sale.
and In consequence there was very little re-
covery. July pork sold from Sl2.45 to $l2.05
| and closed 421kc under Monday at S12.17R:
July lard from s7.021a to $500. closing zoe
| down at $685., and July ribs from s6.S21z to
| S. 72lk, with the close 171Ac depressed at
IS. 771R tt
The rule limiting trading in futures on
the Board Of Trade to sixty days went into
effect to-day
Estimated receipts tomorrow: Wheat.
| Is cars; corn, 100 cars; oats, 152 cars; hogs,
| 1900 head.