The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-03-27
GREAT BULGE in CORN
MAY OPTION WELL ABOVE THIRTY
EIGHT AT THE CLOSE.
Wheat After Following Corn Reed
ed and Closed Weak-PrOvisiOns
Strong and Oats Unchanged.

CHICAGO, March 26.-The corn market
was broad and aggressive to-day. leading
the other markets. closing strong, May Is
Q1zc over Saturday. Wet weather and
small stocks were factors. From the top
the market yielded on the heavy receipts.
Wheat was influenced considerably by corn
and provisions, but succumbed finally to
the bearish statistics, closing weak, May
sc down. The provision market went soar
ing because a large demand met with scant
offerings. closing from sc higher for May
lard TO zoe up for May pork. May oats, at
the close. were unchanged.
The corn market early assumed a COM
handing air on the floor of Change. and
held it by virtue of its strength and ac
tivity, from which the other pits were glad
to borrow. Wet weather in the West and
small stocks were the only reasons to ac-
count for the advance from a statistical
standpoint. Undoubtedly. however, the
buying by coterie of bulls, who were not
advertising their reasons, was influence
of Importance. There were plenty of men
whose eyes are on the crop and supply
situation to aver that the present stocks
are equal to the demand. May opened
shade over Saturday at S7AQ377sc, and in
moment of abstraction the market touched
37Sc. Then it gave a startled jump. and
in the course of an hour had clambered to
3SAc. The bulge met with heavy profit
taking, but the price was holding fairly
well against this when Western reports
dribbled in which showed receipts aggre-
eating 1,152. 900 blu. and this, on top of the
daily reports which have recently been
harping on the light country acceptances,
caused a recession. An explanation of this
deluge of corn was that IL was being
rushed in to take advantage of low rates to
the Missouri river, which expire April TO-
May eased off to 3Ssc and closed strong.
Sq1zc over Saturday. at SS1sq3Sl4c. Local
receipts were $50 cars.
The strength of corn was sufficient to
pull the wheat market away from the bear
ish clutch of the big increases afioat and
in worlds shipments, but the downward
tendency Of the market took, the fullest
advantage of the reaction in corn and
closed weak. Cables were firm, but the ex-
port demand was not very encouraging.
Provisions, as well as corn, were some sup
port. May opened shade over Satur-
day at 655sG65$c, touched 655sc and then
advanced. with corn and provisions the
guiding factors, to 66Ac. Primary receipts
were large. and this fact, with the reaction
in corn, caused decline, and the close
was 1sc under Saturday, at 651zc. Local
Minneapolis and Duluth reported 731 cars.
against S9S last week and 500 a year ago.
Primary receipts were $1,000 bu, compared
with 10000 bu last year. New York re-
ported fifteen loads taken for export, and
seaboard clearances in wheat and flour
were equal to Is. 900 blu.
The provision market was strong and &C
tive, helped by the corn strength to de-
gree, but chiefly by. the light offerings
which greeted a large general demand
The opening was a shade to PIC under
Saturday. in sympathy with weaker prices
at the yards but the depression was only
for a moment. May pork ranged from
$il.70 to s12, and closed zoe up, at $1l.921a;
lard from s6.171kd6.2O to s6.271aG6.30. closing
at s6.25. and May ribs from s6271kd6.3O to
s6321a with the close 711q10c improved, at
$40.
The trade in oats was not of importance,
but the market held firm, in sympathy with
corn. The discount between corn and oats
at one time was 1hzc-the largest so far.
Local receipts were 321 cars. May ranged
from 241sc to 24Ac, closing unchanged from
Saturday. at 24bc
Estimated receipts tomorrow: Wheat,
100 cars; corn, 925 cars; oats, 400 cars; hogs,
% 900 head.
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