The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-02-18
RISE in CORN UNBROKEN
MAY OPTION MAKES A NEW MARK
ABOVE FORTY-ONE CENTS.
Wheat Firm i'm the Face of Adverse
and Hog Products Depressed.

CHICAGO, Feb. 16.-Corn was again the
leading deal on the Board of Trade to-day,
May breaking the options high price rec
ord, and closing with net gain of Sane.
Wheat was dull and narrow. and closed I'M
changed. Oats closed AQ2sc higher, and
provisions 21k@5c depressed.
The corn market concluded bull week
with its activity and strength undimin-
ished and prices a new and higher
level 1t approached the environs of the
natural squeeze which George Phillips
predicted during his November corn deal.
The talk of empty cribs of farmers
who showed no disposition 20 sell and of
the exceedingly poor showing of new ar
rivals when they came under the eye of
the inspectors. Many big elevators re-
ported absolutely response to bids sent
into the country last night. May corn
opened B@Ac lower at 1850 to 40Ac. under
pressure from outside interests who sold
through commission houses. The crowd.
however, was bullish almost 20 man, and
gobbled up all offerings with SO much en-
thusiasm that the market straightway
rallied to 40$c. On the advance there was
heavy outside buying, led by st. Louis in
terests, who were influenced somewhat by
continental advices of pressing require
ments and inadequate stocks. Bears on the
selling side yesterday covered at a loss.
This advance tempted realizing sales, un-
der which May reacted to 403sc Here the
market became almost bare of offerings and
under heavy demand the price shot up to
4lAc. and closed NQ%c over yesterday at
41B@HAc. with the demand still clamorous
ha CT he
Strengthening all around" OF the days
receipts, 3O1 cars. but one graded contract.
The Spartan spirit of the bull interest in
wheat became apparent when, with only
the reflected strength Of corn to help IL.
the wheat price was maintained against a
collection of bearish news. Liverpool and
continental cables were weak Australian
previous week, while enormous world s
shipments and big increase on passage
were indicated. May wheat opened LG%c
lower at 75Ac to 751sc. and allied with corn
to 75s4c during the forenoon. Following this
the market responded 10 the freak in corn
by dropping to 75AG75ssc. The final up
turn in corn carried wheat up to 7515G755sc
and the close was unchanged at 75Isc. Sea-
board clearances in wheat and flour were
equal to $4,000 blu. Primary receipts aggre-
gated $4,000 bu, compared with $1,000 bu
the corresponding week last year Min
neapolis and Duluth reported All cars,
against 356 last week ana 502 a year ago.
Local receipts were As cars, two OF which
were equal to contract requirements.
Oats were fairly active -he market
opened easier in sympathy with other
grains, but met with steady support
al ound 25lxc, on which May finally rallied
sharply TO 25zc, and although outside Of
ferings became more liberal the market
held firm and closed at the top. AQ2sc
higher Receipts were PSI cars.
Provisions were moderately active The
market opened lower because of heavy
hog receipts. An advance followed in re-
spcnse to the corn strength, but this mere
ly served to cause selling by local inter
ests and the market reacted and closed
easy. May pork sold between sl49O and
s1f.071k. and closed &c lower at S1415; Nav
lard between $3.50 and s7.55. closing 21.G5c
down at $7.506l7.5219, and May ribs between
depressed at $40.
Etimated receipts on Monday: Wheat, a
cars; corn, 360 cars; oats 295 cars; hogs,
81 900 head.