The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-03-17
TWO CENTS IN wv DAYS
WHEAT HAS ADVANCED RAPIDLY
M Is STILL GAINING.
Corn and Oats Closed n Shade Higher
in Sympathy-Mixed Changes i'm
the Hog Products Market.

CHICAGO. March 16.-wheat was active and
strong to-day. adding &c to its gain of yester-
day. Corn and oats closed each a shade higher.
and provisions 2lsc TO Tic lower to 1Oc higher.
Liverpool cables came as a distinct disappoint-
ment. and. as Northwestern receipts were lib
eral. May opened 7sc 10 &c lower at 76hd7sHc.
Seasonable weather was a contributory bearish
factor. accounting for considerable OF the outside
selling early. Buying by st. Louis interests
through half a dozen local houses checked the
decline and caused a quick rally to 1850. Longs
sold literally. and this. together with pressure
from bears, caused a reaction to 76Aq7sasc during
the first hour. The ST. Louis buying continued.
ard. as the cash demand was reported good and
considerable apprehension was felt over the
serious tone of cables concerning the difficulty
between England and Russia, the market turned
bullish. May sold up TO TSsc, shorts trying to
cover and sold out, longs endeavoring to rein
state their lines sold earlier in the day. The
close was strong. May sc higher at 77isc, making
an advance of &c since yesterday morning. Sea-
board clearances, in wheat and flour, were equal
to 4S6. 600 blu. while primary receipts were 6SS. 600
bu. compared with $4,000 bu a year aga Local
receipts were IS cars. none of contract grade.
Minneapolis and Duluth reported 42e cars. against
1888 last week and ga the corresponding day a
year ago. Exporters reported % loads taken.
Corn was a fairly active market. The OPEN
ing was easier, in sympathy with wheat and
easiness at Liverpool. and on the good weather
and improved grading Of receipts, to-day's ar
rivals, 329 ears, containing "a cars Of contract
grade. Commission houses sold literally during
the first hour, but when the wheat strength be-
came a bull influence in corn they came 20 its
support in company with the majority of profess
sional traders, and the market finished the ses-
sion in a firm condition. July was in the best
demand and ruled a shade over May. The latter
option sold between 414@413sc and 41Ac and
| closed a shade higher at 4lSsc.
oats were moderately active. but the volume
of business was light. The market ruled easy
early with other grains, and responded later to
their strength. S~tOp-lOss orders from shorts
caused liberal selling on the advance, but the
close was steady. May sold between 25lsc and
25Sc and closed a shade up at 25Ac. Receipts
were 100 cars.
In the market for hog products the activity
as less marked than IL has been recently. The
market ruled rather strong early on light hog
receipts. commission houses buying. Later lard
pork, although subjected to the same pressure,
held firm. May pork sold between $3.50 and
$l5.65 and closed Ice higher at Sl5. 30; May lard
between 81. so and $40. closing SC TO 7l@c down
at $40, and May ribs between SI.5lz and x.49,
with the close 2l2c depressed at $7.47ls.
Estimated receipts on Monday: Wheat, ~
cars: corn. 25 cars; oats, $50 cars; hogs, 32,OOO.
Leading futures ranged as fOllOWs:-