The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-04-24
ALL GRAINS ARE HIGHER
CORN AND WHEAT MORE THAN TWO
CENTS UP AT THE CLOSE.
Oats Nearly n Cent and a Half Ad-
vnnced-PrOvisions Also strong,
but Not Very Active.

CHICAGO. April 23.-Bun enthusiasm was
paramount in all speculative pits on the
Board of Trade to-day The influence was
a well-developed weather scare and shorts
were the sufferers Trade was excited in
general and stuff was held so tightly that
when the bull movement got into swing
prices advanced with big jumps Wheat
made gains of from 2ssc to 2&c. corn 2Hc
to 25sd2s4c. and oats lie to 17sc. May wheat
closed PIC up. corn 2hc higher and oats
lssc advanced. Provisions closed l5d171ec
to 3Oc higher.
Wheat went booming from the very start.
There were numerous bulish incentives
and the crowd turned bulls to man. Ca
bles started out strong and advanced. This
unexpected and started the upturn.
Then came the crop damage scare that set
everyone buying. The rains in the winter
wheat belt yesterday. though enough TO al
lay the heat were reported far from suf
fcient to save crops. Added to this came
the weather report that freezing tempera-
lures probably would be reached in some
parts of the Southwest tonight. Receipts
also were exceedingly light and argued
rapidly decreasing stocks. Higher outside
markets. especially in the Southwest where
1t was argued the spectators had informa-
ton nearer at hand. augmented the up
turn. Reports, both government and pri-
waite, persisted in the advice that crops
were being badly damaged. The Millers
Association of Kansas reported the crop
of that State at condition of So. Indiana
was said TO be suffering and advices stated
that from 20 TO 25 per cent. OF the sOwn
fields would be plOwed up. There was a
lot OF liquidation for profits on the early
advance. but commission house buying
started renewed spurts. The wheat trad
ers were seriously aroused over the criti-
cal condition OF the crop and bought with
the conviction that there was money in
Ii. Trade was enormous possibly as large
as on the big bull campaign last Decem-
Der. There was practically no time when
the market was not advancing and at big
jumps. May opened AQ$sc up at 747sq75c,
and scared to Tic, closing very strong and
excited, 2he up at 767sc. July closed 29sc
up at 7Sisq7Sl4c, and September 2sc ad-
vanced at TSLc. Local receipts were %
l09; total Of 1875. against IA last week and
2S6 a year ago. Primary receipts were 203 900
bu. compared with 49, 900 bu last year Sea-
board clearances in wheat and -four equaled
229, 900 bu. Cash business was good and
the seaboard trade improved.
Corn had the influence of the wheat boom
to start il advancing, but the real bull in
centive in this pit was the renewed heavy
buying by the big commission house which
Ii was reported several weeks ago was try
ing TO corner July options. Wall street is
said 10 be behind this crowd, and as the big
lines were accumulated "tailers" followed
and bought feverishly. The local crowd
bought mainly on the theory that a bull
manipulative campaign was on foot. There
was considerable liquidation at times for
profits and at these moments the market
eased a trifie. Upward spurts Immediately
followed. however, and. as offerings were
never excessive, additional gains were
made. The market was strongest at the
close. The Southwestern markets were
even more builish than Chicago and influ-
enced prices here. May opened CSC to &c
higher. at 625s962s4c. and advanced to 64sl c,
closing strong. 2hc up. at that figure July
sold to &c and closed %G1zc higher, at
657sc. Receipts were sixty-three cars.
Oats were strong throughout on the influ-
ence of the strength I'm the other grains and
the fear that there might be serious dam
age TO the new crop from lack of moisture.
There was also a good cash business, which
added to the strength of futures. Trade
was of good character, receiving and COM
mission houses buying. Scalpers sold to
some extent Crop damage reports from
Iowa and elsewhere were bullish incentives
May sold from 431ec a strong close, 1850
advanced, to 445sc. July gained 1850, closing
at 371zd379sc. Receipts were seventy-five
cars.
Hog products had a strong and advancing
market, Influenced by steady hog market
and the grain bulge. Trade. however was
| not very active, considering the rapid ad-
vances made. Buying was good. particu-
| larly by the local crowd i'm the way of COW
ering Packers sold moderately on the up
| turn. but supported early. The country
was on the buying side. Heavy shipments
| of products was bullish incentive Lard
| was particularly i'm good demand. May
pork closed SOC higher. at SIS IS; lard 1715c
| up. at s9.S5, and ribs l5c to l7lec higher. at
| 1920.
Estimated receipts for to-morrow-Wheat,
| 20 cars; corn, 50; oats. 1855; hogs. % 900 head
| Loading futures ranged as follows.