The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-01-06
BROAD JUMPS in GRAIN
WHEAT is UP THE MAJOR PART OF
TWO CENTS.
Corn Nearly n Cent Higher and Oats
Three Eighths-Provisfons Very
Strong, with Pork Leading.

CHICAGO, Jan. 5.--The course of wheat to-day
was ruled by sentiment, May closing 1&G17sc
over yesterday. Corn closed &c and oats sc
higher. May pork closed Csc. May lard. 17isc and
May ribs Zoe improved.
At the beginning and at the end OF the session
in the wheat pit bullshness Of a decidedly
strenuous order made the market exciting one.
while the period between these extremes
marked by nervousness amounting to specula-
tive ague. The market almost entirely
creation OF sentiment. based the stock
tivity and rumors Of Wall street interest in the
local grain market. But at that, with the news
legitimately influential in determining prices
eliminated, May wheat doomed to the TOP price
of the present session. May opened &c 80 lac
higher at 7Sz to 79Ac. under heavy buying pres
sure, wherewith rumors connected the name or
James r. keene, the New York stock operator.
minutes, longs catering TO the hungry f'louths
opened to them with such liberality that the
price of May dropped back to 1s7sc. Trade be-
came moro quiet. but feVerlshiy nervous Tor the
next hour. May rallied to sac. bur dropped
hack again. Offerings We're light and the price
was gradually worked up again to 79c. At this
mark more profit taking together with some
short selling attempted Meanwhile COM
mission houses had received more buying orders.
The readiness with which orders disappeared
into this department alarmed the short interest
and in a sharp burst of activity May jumped TO
1gl5c, the high price Of the present season. A
reaction to T91sc followed this bulge but the
market was aggressyely strong and the close
was 12Hlkc higher at IyLus-1sc- Casa BIDS
were out of line with the advance and no bust
ness was accomplished. Scaboard clearances, in
wheat and flour, were equal TO $500 bu- Pri-
mary receipts aggregated $1,000 bu, compared
with 57s 0oG Blu last year. Minneapolis and Duluth
reported 40 cars against 1S1 last week and $50
a year ago. LEGAL receipts Were So cars Of
contract grade. Liverpool did not respond 10 the
advance here yesterday II was predicted that
worlds shipments would aggregate 61,eooV00 bu,
about = 0J0, 600 under the previous week.
The bull fever spread TO corn, as II did 10
other leading speculative markets The market.
however showed independent strength based
on the continued light receipts and poor grading.
despite the perfection OF the weather for moving
the crop The market for a time, was contented
with its opening rise, holding steady on broad
VAS forced by the wheat strength and the close
was strong May sold between 37Ssc and 3Sisc
closing &c higher at 3SssT3slzc receipts
s27 cars none OF which graded contract.
a big cash business. according 10 report, and
the receipts, 2Z7 cars, as well as the wheat
strength contributed TO strength in the oats mar
ket May sold between 2fssI2i5sc and 25lsc, and
closed &C higher at 25Sc.
Strength in pork was the feature in provisions
although lard ard ribs also firm. An In
fuential local operator bought lard and ribs
literally while commission houses took pork
The whea. strength moderate hog receipts and a
Nav pork sold between s13.32iz and -Sl3sG and
closed CSC higher at sl3 50. May lard between
s7i1iz@7. 40. closing I'VE up at s7.32is and May
ribs between s6S2s4 and SOS. with the close 2oc
improved az S.os
ESTIMATED receipts Monday: Wheat. 10 cars;
corn $40 cars: oats 30 cars.shogs. o. 900 head
Leading futures ranged az follows: