The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-05-04
ALL GRAINS ARE LOWER
WEATHER AND FAVORABLE CROP
NEWS ARE THE FACTORS.
i'm All Cases, However, Are
Only FractiOnal-Hog In
~dependentIy Strong and Higher.

CHICAGO, May 3.-Many bulls changed
their sentiment on the grain situation to-
day, and, although trade was for the most
part quiet and unimportant, lower prices
resulted. At the close July wheat was &c
lower, corn 5sQ24c down and oats sc lower.
Provisions were independently strong and
closed sc TO 7lkG1Oc higher.
At the outset wheat showed good
strength. Gables were firm and indicated
a generally strong foreign position, es-
pecially when the recent sales TO France
were considered. There was too much
rain Northwest to permit of early spring
wheat sowing, and the possibility OF a re-
tarded spring crop gave the bulls a higher
price argument. The government reports
still showed Kansas and Nebraska suffer
ing for want of rain. on these influences
July wheat opened bqAc to 2sq15c up, at
76&977c. Private messages. however, soon
began TO arrive telling of rains in Kansas.
This broke the market for a time, but the
foreign situation brought another rally.
The quiet nature of the market. however,
helped the bears, and when the Kansas
rains were considered again they put a
selling pressure on the cereal. July fell TO
75kc and closed weak and nc lower, at
76d761kc. Local receipts were 81 cars, one
of contract grade. Northwestern points
were reporting much freer deliveries Dy
farmers, receiving to-day in Minneapolis
and Duluth POI cars, a total OF ZS, against
1S6 last week and 2S3 a year ago. Austria
liam shipments were 10000 bu, compared
with 2S0,00O last year. Primary shipments
were $4,000 blu, against $4,000 a year ago.
SeabOard c~learanceS in wheat and Hour
equaled All 600 blu.
Corn was again weak, with commission
houses selling. based on excellent crop
news as the feature. Weather turned the
scale in favor of the bears. At the opening
cables were comparatively firm, and the
wheat strength upheld corn prices. Conot-
tons in the fields, however, were all that
could be desired, and speculative confidence
was badly shaken. Holder of long prop
erty all seemed DESTROYS TO sell. There was
no attempt made by the leading bull house
TO support the market, and many commits
sion houses were advising sales. Receivers
were reporting more disposition on the
part of country holders TO sell their cash
corn. Under these influences prices gradu-
ally sagged off. July, which sold early at
624c, closed weak, 5sQ%c down., at 6l12c.
Receipts were 145 cars.
Oats were dull, with a small trade over a
very narrow range. Crop adyiceS mol
Gated a favorable situation, ana orerlnss
were rapidly increasing. The cash situa-
ton was improved, and commission houses
bought sparingly on this influence. The
market, however, felt the depression in
wheat and corn, and July closed easy, sc
lower, at 2614c. Receipts were 226 cars.
Provisions were strong but quiet. Hog
prices at the yards were higher because OF
a small run. \ few Scalpers sold PRODUCTS,
but they were readily taken vi and prices
made good advances. July pork closed ~
aloe up. at S17.10d1T.1719; lard sc up, at
5000. and ribs 5q71ac higher, at $3.50
9.571a.
% cars; corn, $50; oats, 235; hogs. $1,000 head.
Leading futures ranged as follows: