The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-04-24
WIDE SWINGS In CORN
RANGE is FORTY-srX To FORTY-SEv-
EN CENTS, A NEW RECORD.
Wheat Lower Under Liquidation, and
Oats Down i'm Sympathy-Provi-
sions Carry Easier Tone.

CHICAGO, April 23.-May corn broke the
crop price record again, to-day. and closed
lac higher Wheat broke under liquida-
ton, closing lhc lower. Oats closed 1sc
down, and provisions 2i9a5c to Eye de-
pressed.
The corn market chung firmly TO its
strong position. and while to-day's trade
was probably less than yesterday, in point
OF quantities changing hands. IL was. never
theless, quite active. The motive for spec
ulative activity was that of yesterday
namely. the concentration of long May
corn in the hands of George II. Phillips
and his following. The desire for profit,
which is always a factor, was gratified TO
a limited extent, but the basic strength
Of the market was not impaired. At the
opening longs offered literally, but so sharp
was the demand that in the confusion sales
were made simultaneously from Acc to 461sc.
compared with yesterdays close of 46Ac.
Offerings. both of May and July. the lat
ter being also in excellent demand, sud-
denly ceased, and both shot upward. May
touching 47c, making a new high record
for the crop. Realizing sent May back 10
Acc. This was followed by another rally
TO 47c. During the closing hour of the
session the wheat weakness caused some
increase in the offerings by longs. and
May worked down TO 46Ssc, but the close
was strong. &c over yesterday, at 46i2c.
July sold between 442sd H1kc 10 45Ac. clos
ing hc lower at 44Nc. Phillips was credit
ed with buying 100000 blu of July. Re-
ceipts were 1872 cars. IS of contract grade.
Much wheat with which the bulls loaded
themselves yesterday was dumped back
into the pit to-day. because Liverpool failed
TO follow the advance on this side. May
opened hQ%c lower at 72Q72hc. and it took
the combined influences OF the corn
strength. heavy seaboard c%learances and
confirmation OF very unfavorable crop pros
poets in Prussia to get the market up TO
72ihc. AS the short interest was small
and the cash demand slack, while domestic
crop advices were as glowing as ever, longs
sought to take profits. and in so doing
broke May to NC. The close was heavy,
ton mentioned. the trade was featureless
and Of a scalping character: Exporters
reported "a loads taken. Seaboard clear
ances, in wheat and hour, were equal to
$4,000 blu. Primary receipts aggregated
1851. 900 blu. compared with 3ol.WO blu last
year. Minneapolis and Duluth reported a
total Of 1914 cars, against 100 last week anu
aga a wear ago. Local receipts were los
cars. none of contract grade.
Oats opened steady, advanced early IN
sympathy Win corn, anu dilHouSh thc
bulge was lost on profit-taking. the close
was steady. The general trade was scat
tered. Receipts were Az cars. May sold
between 26asc and 25%c, and closed sc lower
at 25%@25hc.
Proft-taking sales, coming on a dull mar
ket. caused the provision list to ease on.
Julv pork closed l21sc lower at Sl4.45; July
lard 2ib@5c down at T.9711qS, and July ribs
21hN5c depressed at $7.s7RM7.9O. -
receipts tomorrow: wheat, 40
cars; corn, 65 cars; oats, l5 cars; hogs
~. 600 head.