The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1901-03-31
CHICAGO GRAIN MARKET.
Trading in Corn Was the Feature of
the Days Business.
MAY CORN MADE NEW HIGH RECORD
Wheat Declined t-9, Corn Advanced 5-S
to 3-4, Oats 5-8 and Provisions
t2-1S2 to zoe.

Chicago. March 30.-Cnrried upward by
the bullshness of almost the entire West
the corn market today continued on It's
rccordbreaklng career. The volume OF
business was largeS than any previous day
this week. May closed su& over yester-
day. Oats were also eonspicuously active.
May closing with a net advance OF ~
Wheat ruled dun and at the close was lsc
lower. Provisions advanced l2&@2o.
Trade In corn for May delivery became
active at the tap of the opening gong.
within half an hour 1t had assumed vast
proportions Half the wheat pit had dc.
serted to II and many traders were q wd-
cd out OF bounds at times George Il.
Phillips, who stands for the country bull
ishness in many minds, aud II he has not
already control OF the market, Is at least
potent factor In il, took profits on n scale
approaching his operations of yesterday.
yet SO excited was the trade that he was
not more conspicuous than many others.
In fact 1t looked as If the piarkct was
beyond the control ~ this spirited young
bun or beyond the control OF any combina-
ton. LII the face of his realizing sales
and that Of certain conservative longs,
the market swept upward irreslstibly The
were selling to their own brokers and
still adding to their already big lines.
were heard on the floor, May opened a6l
n higher at aga IA. and early touched
die ON selling said to nave been for Phil
lips. The buying craze was on however.
and 1t struck this slight dip in full force.
May corn was bought and sold in such
quantities and with such rapidity by the
whole pit that individual trades were lost
to view. The price bounded to AM In
the next half hour, thereby again break
Ing the record for the season trade In
May options, The remainder OF the ses-
Sion 1t was give pnd take between the big
demand and offerings from enriched longs.
May was forced back to i4N, but was
strong aud closed 9s0A over Yesterday NJ
444M443s. Corn for July delivery mean
while dropped from shade, to, asc discount
terest in May is very small, as tue bears
are connnlng theiB operations to deferred
futures Changing of May To July was
feature of the days business. The news
was bullish, but probably was not needed,
Cables were higher country acceptances
small and the weather decidedly untavor-
able TO good roads Primary receipts were
$4,000 bushels. Local fresh arrivals were
236 cars.
In activity and strength the oats market
was second only to corn. The market, ordi-
narlly neglected and without even pit to
call Its own, made the wheat trade look
dismal by comparison, The hand OF lhll-
/
chnses during the day lag Appropriated
at 3,000OO0 bushels. This buying was
presumably on the theory that oats at
| present are cheap compared with corn and
that an advance In the latter IN bound 10
be reflected In oats. The recent heavy cnRh
business and reports of Diminishing stocks
| we're contributory factors, although today's
| advance cut sales down tof about 100000
| bushels. Some. OF the old bull crowd VINO
had been carrying load Of oats for weeks
In the face of the stagnant business took
| advantage of the advance to ease the press
| nrr of their loadS May oats opened at
2J5s@26 touched 25&. and later rallied to
-u~". CLOSING u higher ut 2o%. Recclp,s
were 241 cars.
The attenuated remnant of traders lett
| In the wheat pit was bearish nnn nud II
| not been for the c3rn strength II Is highly
| probable the market would have dechDcd
more than 1t did. Trade was lielt and
lower at T61s to T6@7Jls and sold early to
! a. on heavy Australian shipments and
favorable weather In sympathy with corn
reaction 10 1854 followed but despite
ket eased OF later and closed Bc under
| yesterday nj 76k. Primary receipts were
OT3,OO0 bushels. Local receipts were ~
ears Minneapolis and Duluth reported 1858
| cars. Australian shipments were 1,0N,0U0
| bushels and II was predicted by Beerbohm
that the worlds shipments Monday would
| be 100000.
Light hog receipts, the corn strength
were reflected In higher prices for provis-
ions. Pork was comparatively. dun but
there was q. good speculative demand for
lard and ribs while the cash situation
continued highly satisfactory to holders.
Pork closed poe up: lard lu3c higher ana
ribs 12I2c improved.
Estimated receipts Mondny--Whea Oh
cars; corn 165 caIs oats 600 cars; hogs
rho leaIlng futures ranged ms follows:
Articles. Uten. High. Low. Close.