The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-03-15
GOOD STRENGTH in CORN
FOR a TIME IN DOMINATES ALL THE
GRAIN PITS.
Wheat Weakness, However. Leads
Oats Astray, Only Corn Closing
Higher-ProvisiOnsI Irregular.

CHICAGO, March 4.-Corn strength dom
mated grains for the greater part OF the
session to-day. There were bearish fac
tors at work in wheat. which finally pre-
vailed in that grain, but the coarser cereal
retarded for some time the looked for de-
cline and itself held firm. At the close May
wheat was Sq2lc down, corn sake higher
and oats 1sc lower. Provisions closed a
shade lower to sc higher
Local bulls took corn in hand shortly
after the opening and easily forced prices
up the better part of a cent. Many bears
went home last night with short lines,
pectinS further decline to-day on yes
terday's weakness Cables however, were
remarkably steady, there fear OF
general spread of the cold wave in the
Northwest and leading bull started in
early TO bail out the offerings in the pit.
The feeding demand was good and the
West had nothing TO sell. Kansas City was
reported bidding 1c over Chicago in Iowa
yesterday. Receipts were very light, and
shorts, in order to get out Of their tight
place. had to bid up for the scarce offer
| ings. The cash situation was much i'm
proved. New England was buying and the
Southwest was still bulish. The buying
here was good, but mainly by local people.
The sentiment for a time was mixed, but
eventually sided with the bulls. The break
in wheat had nothing but a temporarily
easing effect. May started unchanged to
Ac up at 617sQ621sc, advanced to 625sa62&c,
eased momentarily, but closed firm and ga
12c higher, at 62Aq622sc- Receipts were
ninety-two cars.
Wheat at one time during the session felt
enough of the corn strength and the below
zero weather in the Northwest to acquire
flrm tone and sell above Yesterdays clos
ing price After the slump of yesterday the
cables had very steady tone. Commits
sion houses were executing fair buying or
ders early; shorts became uneasy and COW
ered; Inc Illinois crop report, indicating
cOndltl0n or 10, compared with 81 in April
a year ago. was not considered bullish. as
the authorities said there was nc complaint
OF winter killing and the roots seemed
strong and the plant IN good color. The
market was fairly active and showed a
fair amount of strength up to noon. The
coarse grains aided materially in the situa-
ton, but later when statistical journals
announced the Western condition favorable
in the extreme heavy selling set in. ST
Louis and the crowd were very bearish
and prices suffered serious relapse. May,
which opened a shade to kGAc up, at 1890
154c, and sold up to 757sc dropped quickly
to weak close and 5sG&c lower, at 747sc
Local receipts were thirty-five cars none of
contract grade. Minneapolis and Duluth re-
ported 200 ears. a total of 295, against 27S last
week and 4l6 year ago. Primary receipts
NNAO tlfsVOV buStlSlSs COHlpdIHu WIFI % i,UUU
year ago. Seaboard clearances in wheat
and flour equaled $4,000 bushels. The sea-
board reported thirty-five loads taken for
export.
oats were dull and ruled fairly steady
Cash business was reported somewhat i'm
proved, and the corn strength aided toward
better prices. The late break in wheat,
however, caused some selling and decline.
Gossip has it that the leading bull pro-
fessonal, who has been credited with hold
ing 100000 bushels of May, had gradually
been transferring his holding to July
Traders were predicting that the later OPP
ton would go even higher than May has
been selling at. To-day May was dealt in
very sparingly, opening lower selling to
46c and closing 1sc down, at 1850. Receipts
were seventy-twO cars.
Provisions early were weaker in SYM
pathy with a lower hog market Some fair
buying was done through brokers for pack
ers, but the late trade was dull. For a time
prices advanced WELL but the close was
steady. May pork closed &c higher, at $15.45;
lard a shade lower at S9.4OQ9.421a. and ribs
unchanged at IS. 40QS4212.
Estimated receipts for o-morrow-Wheat,
80 cars; corn, 95 oats, 60: hogs $4,000 head
Leading futures ranged follows: