The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-03-26
BULLISH DAY in CORN
NEW RECORD PRICE MADE BY THE
CEREAL AT ~ 1-2C.
Wheat Closed Weak and Lower After
"a Firm Sturt-Oats Unchanged
y Good Gains i'm Hog Products.

CHICAGO, March 25.-Corn took up the
strenuous life to-day. and not only closed
ss@4c higher. but formed the chief sup
port of the other grains. Wheat, however,
closed Ad2sc lower and oats unchanged.
Provisions showed a closing rally of 1212c
TO 30c.
The corn crowd came into the pit In a
bullish frame Of mind, and at once began
the strenuous activity which made the
coarse cereal the feature of speculative
trade. May opened sc higher, at 4l%q
417sc, and advanced early to 42c. with but
slight opposition. New ground being brok-
en-, bears offered what looked like the
whole crop. but the ranks of bull profess
SIGNALS, alarmed shorts and a goodly force
of out-of-town traders absorbed every
thing with an easy nonchalance which
soon had the effect of again reducing the
opposing pressure. May, with scarcely any
reaction. climbed to 42$sd4215c, and closed
strong. %GAc over yesterday, at 42Ssc. De-
spite the scarcity of offerings at times.
the volume of business, as a whole. was
heavy. The secret of the days trend or
prices lay in light country offerings, I'M
settled weather, light receipts and in the
belief that only small stocks are now
~ at NOuiliy idhWd oSAcH "H
farmers are already too busy with spring
work to haul more corn to the cars. The
visible increase of $4,000 bu was too small
an addition TO the moderate stocks to
check bull enthusiasm. Primary receipts
were 527, 600 bu, against 1,l5S,WO a year ago.
Local receipts were 2y cars.
Wheat opened firm on higher cables and
moderate worlo 5 shipments and was spar
ingly offered during the .rst hour, A
strong contingent of active local traders
of optimistic temperament attempted to
create a feeling of strength, but the mild
spring weather, liberal receipts and lack
of vigor in the export demand were rae
tors against them and May, having opened
sake TO sc higher, at 1890 10 l64 l6ssc,
sagged during the forenoon to 15AqI5sc;
The corn strength and heaVy SeaDoard
clearances caused covering by shorts, I'M
der which May later rallied TO I6Ac. but
plenty was for sale on the rally ana May
again sagged off and closed easy, Aussc
lower, at 1850. The market, as a whole,
was dull and local. The visible decrease
was only 400, 600 bu, which was not en-
couraging from a bull standpoint. Export
ers reported 10 loads taken, 10000 bu being
sold here. Seaboard clearances were S0S,-
600 blu, while primary receipts aggregated
935, 900 blu, compared with 81, 600 last year.
Minneapolis and Duluth reported 62l cars,
against 700 last week and 73l a year ago.
Local receipts were 90 cars, 3 of contract
grade.
Oats were so dull and heavy that all the
corn strength could was to
hold this neglected market stable. May
sold between 247sd25c and 25lsc, and closed
unchanged at 25isc. Receipts were a4 cars.
Provisions were rather quiet, but had 4
strong undertone throughout, although
prices were slight easier at the opening,
under the influence of hog receipts. which
were 1900 head greater than had been ex-
pected. The corn strength, a good cash de-
mand and good support from packers coun-
teracted this, however. and a rally from
the recent decline resulted May pork sold
between $3.50 and $l5.7 10 and closed 30c
higher. at SIS. 20: May lard between $3.50
| and $S.O2is. closing 121zc up. at IS. and May
ribs between $7.S2l2 and $.91la and IS, with
the close PFC improved. at S.9112.
Estimated receipts to-morrow-Wheat, 30
| cars: corn, go cars; oats, 26 cars: hogs.
5000 head.