The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-05-01
CHANGING GRAIN OPTIONS
PRINCIPAL BUSINESS on THE CHI
CAGO BOARD OF TRADE
Business Dull and Prices Depressed,
Except for Wheat-Hog
Also Are Lower.

CHICAGO, April 3O.-Grain trade to-day
was largely restricted to changing opera
tions in preparation for to-morrow's deliv-
cries of May options. Back of the chang
ing there appeared to be a fair bullish
stimulus. but so quiet was business that
July wheat closed only 1sGhc Up. corn &c
lower and oats sc lower. Provisions closed
loo to 2c depressed.
Considering the fact that this was the
last day Of the month and preceded one of
the four big delivery days of the year.
there was a fair bull market in wheat.
True, trade was dull in the main, but prices
held well the greater part of the session.
Bulltsh news was present in good force.
Receipts were small and Duluth did not re-
ceive a car; cables were firm, Kansas Ie-
ports were still complaining of insufficient
rains and thirty-ive counties in Minnesota
and South Dakota reported a decrease in
the spring wheat area amounting to 20 per
cent. Some fair early buying by the lead
ing corn bulls started prices up well. There
was the usual changing. however. July be-
ing taken on May for July at 1Ac spread.
The quietness of the market helped bears
in their courage to sell the further options
and the advances were not held. Elevator
people predicted as much as 100000 bu by
deliveries of May, and, in spite of the big
decreases in the worlds visible supply re-
port, prices eased back To last nights close.
There was a slight rally at the end and
July, which sold early at 76l4c, closed a
tribe better than yesterday and ku4c up,
at I59sc. Local receipts were twenty-four
cars; Minneapolis reported lis, a total of
139. against 15 for the three Northwestern
points last week and 200 a year ago. Fri
mary receipts were 220,000 blu, compared
with $4,000 bu a year ago. Seaboard clear
ances in wheat and flour equaled 10000 bu.
The seaboard reported ten loads taken for
export.
Corn trade was quiet and uneventful. The
greater part of the business was that of
changing by elevator people. July stuff be-
ing taken for May at 1Ssc spread Wheat
lost an early support, but the encouraging
condition of crops and the dullness resulted
in light selling that brought a depression
toward the close. July sold early at SAC,
slumped TO &c and closed weak, hc lower,
at 63AQ63Bc. Receipts were eighty-two
cars.
Oats were dull, influenced by the other
grains. May did not show, any inclination
TO stampede the crowd, as had been ex-
pected when that option was thought to be
cornered. The May demand at times was
fair at current prices. Crop adviceS were
generally favorable. Country offerings were
small. Fluctuations were narrow. July
closed 1sc lower, at 36Ac. Receipts were 1sC
cars.
Provisions were weak. Influenced by lib
eral receipts at the yards, lower prices and
fair selling. AT the opening packers sup
ported, but the outside liquidated TO some
extent and with commission house selling
brought a depressed close. July pork closed
ac down, at 1850; lard l2hQ15c down, al
$.9I1sq10, n ribs 10c lower. at S9.40.
Estimated receipts for to-mOrrOw-Vheat,
40 cars; corn, 100; oats, $50; hogs, 27,00(
\ head