The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-02-26
CORN LED IN ACTIVITY
FLUCTUATIONS WERE MANY, THE
CLOSE EASY AND LOWER.
Wheat Made n Small Advance and
Oats Were a Shade Down-Sman
Gains In Provisions.

CHICAGO Feb. GA sharp combat be-
tween the respective leaders of the bull and
bear hosts in corn made that market the
center of attraction to-day. May closed &c
lower. Bullish statistics and steady cables
came to the support of wheat and the close
was &c over Saturday. Oats closed shade
down and provisions 2ikc to sc improved
Corn was an active and somewhat i'm
posing market The market was mostly pro-
fessional, governed by sentiment rather
than any deductions from the news. The
small contract stocks. and they have been
merely morsel.for some time, are the bone
of contention. 1t is a question whether
present prices of futures are too high or
too low, with the contract corn which could
be delivered as basis. In to-days re-
ceipts, 697 cars, there were twelve cars
which graded contract This was the best
showing new arrivals have made for some
time, with the possible exception of Satur-
day. May opened unchanged to Ac higher.
at 411zQ4ls4c and quickly touched h@q4l5sc.
under good commission house buying, led
by outsiders. The bull leader took in half
million Of May on the rise, but the COM
mencement of liquidation and short selling
by bears forced the market back to 41Ssc.
The bulls forced May from this to 4lis@
Also, but were unable to hold the advance
against the heavy selling pressure, and the
market broke to 401sc. A rally followed,
but the close was easy. May Ac lower, at
I14c.
Under the influence of steadiness at Liv-
erpool and bullish statistics. wheat opened
firm, May shade to AGssc higher, at 16l4@
7614c. There was a fairly active trade for a
few minutes, but when outside orders We're
filled the market became a featureless local
affair and lost some of its strength, May
dropping to 76ls@76Ac The strength devel-
oped by corn caused covering by shorts on
the Decline and May rallied to 76lsc. Heavy
selling by few local professionals, in
sympathy with the corn break, sent the
market back to 761sc The corn reaction and
a visible decrease of 146, 600 bu, combined
with the heavy seaboard clearances,
checked the decline. and sharp rally to
76%c ensued; The close was steady. May
1sc higher, at 7614Q763sc. Exporters reported
twelve loads taken. Seaboard clearances in
wheat and flour were equal to $4,000 bu:
Primary receipts were $4,000 bu compared
with 10000 the corresponding day last year.
Minneapolis and Duluth reported 524 cars.
against 495 last week and S3I a year ago.
Local receipts were 102 cars, 16 Of contract
grade. Worlds shipments were $685. 900 blu.
Oats were fairly active in appearance,
but the volume of business transacted was
light. Offerings were liberal on hard spots.
and bids good on small recessions. May
sold between 25stc and 26c, and closed a
shade lower, at 25a4Q257sc. Receipts were All
cars.
Provisions were quiet. but the market
had firm undertone. based on light hog re-
ceipts and higher prices at the stockyards.
May pork sold between $1415d1417A and
$l4.221a, and closed sc higher. at s1420; May
lard between y:55 and s7571 closing 21z@5c
up, at $I.55Q7.5711, and May ribs between
s715
Estimated receipts to-morrow-Wheat, Ills
cars; corn, 6S5 cars; oats, 425 cars; hogs,