The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-03-02
CEREALS ARE IRREGULAR
CORN Is STRONG: AND GAINS A QUAR-
TER CENT ON THE DAY.
Oats Firm in Sy mpathy-Wheat Weak
Mixed Changes from Thursday.

CHICAGO. March 1.-~Irregularity marked
the course of the grain markets to-day. the
heaviness of wheat forming a contrast with
the corn strength and the sympathetic firm
ness of oats. Com closed &c and oats a
shade higher, willie wheat showed a net
decline of sake Tor the day. Provisions
also were irregular, closing 21565c lower to
sc higher.
A strong market for corn existed through
out the session and the volume Of business
transacted reached an imposing total.
Speculative inter- st was centered in this
market and the pit was congested by an
influx of SPECTATORS attracted from other
parts of the floor by the activity of the
play. Commission houses operated heavily,
but the pressure was nicely balanced gen.
orally, and it remained for the prominent
operators to maze or break prices. Ex-
cepting an English estimate making the
Argentine export BILE surplus 7~2,OO0,0O0 blu,
there was little news, leaving the market
still the toy of sentiment. pure and simple.
May opened unchanged TO Sc higher, at
4OBc TO 41Ac. Shorts became alarmed at
the strong character of the buying and
covered, forcing the market up to 4l15c.
The wheat weakness proved influential on
the advance, and, some corn bought earlier
was u~nloaded. My dropping back to 4lAc,
resisting stubbornly. The close was firm
at hat price, hc over yesterday. Local re-
ceipts were $50 cars, two of contract grade.
Under the influence of light Northwest
receipts. a decreaSe in Argentine shipments
last week and ny steadinss of cables May
wheat opened a shade higher, at 75zsc TO
76c, and sold to a limited extent at 76d761sc.
Heavy pressure was brought to bear on the
market and Mas dropped to 75HG75%c.
some long wheat coming out on the decline.
The aggressive strength of corn caused
covering by shorts, under which May rail-
lied TO i5Hu76c. Persistent selling by a big
long and the lack. of outside encouragement
caused renewed Neaviness and the market
during the after aeon broke to 75hd75Nc.
On the dip shorts took profits and the mar
ket reacted to 10: s@751kc and closed at that
price, SsI12c lower and rather heavy in
tone. Export business was reported dull.
Seaboard c~learances in wheat and flour
were equal TO 3l5. 900 blu, while primary re-
ceipts aggregated $4,000 blu, compared with
$4,000 blu last year. Minneapolis and Du-
lutn reported 80 cars. against 54l a year
ago. Chicago receipts were twenty-five
cars. two OF contract grade. Argentine
shipments were $4,000 bu last week, 200, 900
bu less than the previous week and more
than 100000 bu under last years corre-
spending week.
Oats were a dull and local market. but
eoHS was Hrnl' III sympathy with corn.
May sold between 251zc and 259sc and closed
a shade higher. at 25RQ25asc. Receipts
were z03 cars.
In the provisions market lard and ribs
were fairly active, but pork was generally
neglected, though comparatively firm. Out
side packers were liberal sellers of lard and
ribs and prices suffered in consequence.
May pork sold Between s13. 971 and sl4.O71s
and closed sc higher, at s14.071k; May lard
between N.45 anu $7.3112M7.40 40, closing 21al5c
down., at $40, ard May ribs between 81 and
81. y3UO.9412. with the closed dc danraeSaH
at 81.
receipts to-morrow-Wheat, So
cars; corn, no cars; oats, 275 cars; hogs,
2, 900 head.