The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-04-23
ALL HIGHER BUT WHEAT
CORN AND OATS WEAK EARLY, BUT
CLOSE WITH GAIN
Wheat Depressed by Clouds and
tistics-Provisions Little Up.

CHICAGO. April 22.-Weather was again
the ruling factor in grain speculation to-
day AT no time was trading heavy. though
throughout the session strained, nervous
feeling was present. May wheat closed
shade lower. corn 3sc up and oats sc adj
vanced. Provisions closed 212c TO 5Q71ke
higher.
Reports of rains i'm the wheat belt tended
toward an early Generalization of the
wheat pit. Advices kept coming in, how
ever, telling of the almost parched condi-
tion Of the ground before the showers and
stating that the rains have been by no
means sufficient to save crops. Those who
thought prices would so rafting down soon
moved to replace their short lines. The
Southwest had weakened materially on the
rains but soon advanced above Chicago
prices. Clearing weather was reported
where the rains were most needed and an
unexpected rise in prices followed. May
wheat opened Sale to i4Q3sc lower, at
14l4c to 742sc, and sold off to 737s674c. Then
came Bradstreet's report of a heavy de-
crease in the worlds visible supply and
good buying resulted. Commission houses
that had sold literally early for the South
west bought back rapidly. The local crowd
oddly enough, was bearishly affected be-
cause the weather was somewhat cloudy In
Chicago. This, with reports of more rains
Southwest caused a little late selling, and
after May had sold to 751sc it closed steady
a shade lower, at 745sc. Local receipts were
fifty-seven cars; Minneapolis and Duluth
reported 10, total OF 236. against 134 last
week and 500 year ago. Primary receipts
were 30l 900 Blu. compared with 361 900 bu a
year ago. SeabOard clearances in wheat
and flour equaled 211,0O0 bu. The seaboard
reported twelve loads taken for export
Corn was largely under the influence of
the wheat market and was something of a
waiting affair. Early in the day prices
sagged of OH the rain influence in the
wheat pit. though the natural condition of
corn would not permit of as marked weak
ness was shown early in the other GER
cal. Selling was liberal and developed until
May prices sagged off from 61xc to size.
When wheat rallied corn accompanied it
and showed better relative strength. There
was a bulling movement talked of by the
crowd that was conspicuously bulish in
July corn several weeks ago. This added
TO the growing strength. Although the in
terror movement was a little better than of
late, the crowd looked at the receipts DULL
ishly. May sold up to 621fc on the reaction
and closed firm, sc higher at 62ILc Re
ceipts were 40 cars.
Oats readily felt the bearish influence of
the rain reports, but rallied quickly with
the other grains. Trade was quiet but the
late buying on the reaction in the other
pits was OF good character and brought in
tailers. The rains as yet have not been
sufficient to relieve the fears for the new
crop and the general news of the feed sit
uation is not encouraging. May sold as low
as 425sc and high 431zc, closing firm,
Sc up. at 43Ac Receipts were PAS cars.
Provisions were weakened early owing to
weak hog situation. There soon deVel-
oped strong cash market and operations
in futures were restricted. Packers offered
fair support, especially in ribs, which adj
vanced best of the list. All prices closed
firm, May pork 212c higher, at s1645; lard
211c up, at ss.6711. and ribs 5q71zc higher, at
S9O2lka905.
Estimated receipts for to-morrow-Wheat
45 cars; corn, 65; oats, los; hogs, q, 900 head.
Leading futures ranged as follows.