The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-02-21
WHEAT AGAIN
1T TAKES THE LEAD WHICH CORN
HAS HELD FOR A WEEK.
Coarse Cereal Also S~tr0ng-0ats Ac-
I'm n Much Stronger Position.

CHICAGO, Feb. @.-Inauential local spec
ulators were active supporters of the wheat
market to-day, and the close was firm, May
asd1c higher. Corn was comparatively
quiet. The market withstood considerable
selling pressure and closed Ad&sc improved.
Oats at the close were &c better and pro-
visions &c to 10G12hc up. There will be no
session of the Board of Trade on Friday,
Washington's birthday.
Indifference of the Liverpool market gave
rise to expectations of lower prices for
wheat here. bat the tap of the gong found
offerings valued sCmew hat higher than
they were at the close yesterday. May
opened unchanged TO &c higher, at 1850 TO
75Sc. The first batch of buying orders be-
ing satisfied. the market became quiet but
firm on moderate Northwest receipts and
rhe fact that large areas of the wheat belt
are without snow protection. There was
even a bit of gossip concerning Hessian fly
In Nebraska, but ii is r9ther early for that
insect TO be much OF a factor in fixing the
price of wheat. The bears derived some
comfort from an unofficial estimate giving
south Australia an exportable surplus OF
$685. 900 bushels. Later buying by leading
operators, seaboard advices of a better ex-
FORT situation and covering by shorts who
were made nervous by the strong character
of the buying caused a sharp bulge to
s63sc. A profit-tal<ipg movement greeted
the advance, but the close was strong. May
ssq1sc ever yesterday, at 75A476c. Export
ers reported seNenty-two loads taken for
foreign shipment. while seaboard clear
ances in wheat and flour were equal TO
$4,000 bushels. Primary receipts aggre-
gated 1853, 900 bushels, compared with $4,000
oils and Duluth reported 243 cars. against
ca last week and 504 a year ago. Fresh ar
rivals here were thirty-eight cars. one of
which graded contract.
Corn relinquished the leadership on
Change after the first hours trade, having
held 1t undisputed for a week. May opened
&c higher, at 4oHa4o1sc. under the iniu-
ence Of light receipts. The crowd bought
freely and May, having dropped to 40ssc.
reacted to 40%c. The market became quiet
on this advance and remained in that con-
strength helped to sustain prices during the
latter half OF the session. The close was
Lose higher. at 4oAsc. Receipts Were 27s
Oats were fairly active within a narrow
range. The wheat and corn strength were
influential. for while general conditions af-
fecting supply n demand were unchanged
there was good buying for the local ac-
25Ac n closed &c higher, at 25fsc. Re-
ceipts were 40 cars.
was strong, although business generally
was quiet. Hog receipts were less than
had been expected, and this, combined with
a good cash demand and the strength of
the grain markets, resulted in an advance.
which was firmly held. May pork sold be-
tween $14.07h and $14.15 and closed 1Oa121ac
higher, at l4.lOa14 121k; May lard between
$l.41h and N.521G7.55, closing 7hG10c up.
at $7.52Hqz.55. and May ribs between S7.07is
and $40, with the close sc improved, at
$40.
cars; corn. Us cars; oats, 1S5 cars; hogs,
5000 head.