The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-03-09
STRENGTH OF CASH GRAIN
1T SENT WHEAT OPTIONS A FULL
THREE-QUARTERs UPWARD.
Corn I'm a Similar Position, with an
Advance of Nearly a Half-Oats
and Provisions Higher.

CHICAGO, March S.-Under the inspira-
ton of cash wheat strength at Liverpool
and New York, wheat futures on the
Board of Trade were active. and strong,
May closing &c over yesterday. May corn
closed 1kc up, helped by a good cash de-
mand, and May oats a shade higher. The
provisions market closed strong; May
pork, 17l4a2Oc; May lard, 5Q74c. and May
ribs. 71aQlOc improved.
At the beginning of the session in the
wheat pit there were two considerations
which were shortly afterwards lost sight
ot-easier cables and the Price Current"
assertion that the marketable supply of
wheat was much greater than could be
distributed before a new crop. With these
things in mind the market opened easier,
May BQAc down at 65%Q65hc to 65h@
6o5c.. The factors in the easiness were soon
eliminated, however, by the strength of
Liverpool for spot wheat, under which the
market here reacted. AS the session pro-
ceeded the bull position was further forti-
fed by the strength of New York for cash,
talk of a big export business-fifty boat
loads-which was reported to have been
done late yesterday. and some uneasiness
over resports of more plague cases in Ar
gentina. May advanced to &c early. and
chung around that figure for some time.
Near the end of the session, renewed buy
ing pressure resulted in a bulge which
carried May to 66ssc. The close was strong,
May &c over yesterday at 66%Q661ac. At
lantic port clearances in wheat and flour
were equal to 100000 bushels. New York
| reported twenty-eight loads taken for ex-
mort Primary raceintS were GAS. 600 bushels.
compared with 691, 600 last year. Minneapo-
lis and Duluth reported 54 cars. against
$50 last week and $50 a year ago. Local re-
cepits were twenty-three cars, one of con-
tract grade.
The corn market was strong and fairly
active. The opening was easy, May 1sc
lower at 347sq35c. in sympathy with the
early dip in wheat, but thereafter the
course was Upward. Country offerings were
very light, 1t was reported, roads very bad
for the movement, and receipts moderate,
while a big cash business was being done
here. Under these influences May turned
firm, selling for some time around $3.50
35Ac. Shippers and provisions people We're
good buyers. Later in the session the adj
vance was carried still further on reports
of an excellent export demand and in
| sympathy with wheat. May pushed on to
S5hc at which the market closed, %Q1sc
over yesterday. Local receipts were 23
cars, thirty-two cars under the estimate.
New York reported forty-six loads taken
| for export. Clearances were AL, 900 bushels.
Oats were dull but steady with corn and
closed firm. Receipts were moderate and
the shipping demand slow. Two hundred
and thirty-one cars were received here.
May ranged from 23ssc to 231kc and closed
4 shade improved at 23ssG231kc.
| The provisions market opened unchanged,
but the development Of a good cash de-
mand. both domestic and export, together
with light offerings and the strength of
grain caused a rally, and some activity.
Liverpool was Sd higher for lard and the
II WAN hare mos nonAofo11xy ~ W.
pork ranged from sio.57lL to s1o.So. and
closed 17hd20c over yesterday at $40. 771s6
1880; May lard from s5.s7h to s5.921sd5.s5.
closing 5G7hc up at s5.s21905.95, and May
ribs from S.s2lk to S.92i1hs. with the close
| 7kQ10c improved at 5.90Q5.9 2h.
| Estimated receipts tomorrow: Wheat,
20 cars; corn, 300 cars; oats. 2l5 cars; hogs,
$4,000 head.