The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-01-22
WHEAT TURNED UPWARD
STRONG ARRAY OF BULLIsH NEWS
ADDED CENT TO THE PRICE.
Corn Stronger in a Minor Degree and
Prices of Hog Products.

CHICAGO. JAN 21.-Small worlds ship
ments, higher cables and a strong cash
situation were potent factors in an adj
vance in wheat to-day, May closing 1q1bc
higher. Corn closed 1sc up and oats UNI
changed. Provisions, at the close, were
2i.a121sc lower.
May wheat opened 1sGssc to a shade
higher. at 74AQ747sc. Liverpool was the
influence, showing an advance in the face
OF the decline here Saturday, but so much
long wheat was for sale that the first
sales were at widely varying figures and a
moment later the market TOUGHER 74sc
The situation, however. was bullish
Worlds shipments were only 5,32S,O00 bu,
compared with $4,000 blu the week previ-
Gus. Antwerp reported the breaking out
Of the bubonic plague in Argentina. and
was said to have bought heavily of wheat
at San Francisco. Buying by sold-out
bulls and covering by shorts began at the
tap of the gong and continued in a mod
erately active way to the end of the ses-
SIGN, the market advancing with only frac-
tional checks occasioned by profit-taking
A decrease OF $4,000 blu helped sustain the
advance. but the main support came from
the strength of cash wheat. The amount
taken by exporters was constantly added
to until, at the close, the seaboard was
claiming al loads. Export sales from
Western and Northwestern points aggregat-
ed nearly 100000 blu. May, during the
forenoon, rallied to 75lsc. A reaction TO
74s4@747sc then took place but this was
followed by further rally to 1880 and the
close was strong, May 1Q1Bc higher, at
75Ac Primary receipts aggregated 49,
0Oo bu. Minneapolis and Duluth reported
$40 cars, against 649 last week and 4S7
year ago. Local receipts were 66 cars,
two of contract grade. The amount on
ocean passage showed an increase of 49,
600 blu.
Corn was moderately active, but the
range was narrow. The market early fol-
lowed wheat closely, but the pace later
back almost entirely on an independent
basis. The news was hardly as favorable
for the coarser grain as for wheat. Cables
were easy, receipts graded better and the
visible increased ILL 900 blu. Shorts
the best buyers early and the trade, gen.
orally speaking, was in local hands all day.
Receipts were 54S cars. May sold between
3S&c and 39Q391sc, and closed firm, &c
higher, at 3S1s439c.
Oats were moderately active The mar
ket felt the wheat strength, but during
the afternoon eased off on selling credited
to an influential operator. Receipts were
80 cars. May sold between 25AQ252sc and
25c, and closed unchanged at 25c.
The tendency in the provisions market
was easier. Hog receipts We're under the
estimate, but the prices at the yards, new
ertheless, were weak and this was reflect
ed by a decline in provisions at the open
ing. Buying by a prominent specuator
caused a rally later, but it was not sup
ported and the close was easy. May pork
sold between s1410Q14.121a and $3.50, and
closed 215c lower, at s13.92l5; May lard,
between $3.50 and s742k, closing 21ac down,
at S.4215 and May ribs between $40 and
s7o215, with the close depressed at sos.
Estimated receipts tomorrow: Wheat,
95 cars corn, 700 cars; oats. 3O5 cars; hogs,
$4,000 head.