The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-02-12
COVER FOR THE HOLIDAY
SHORTS IN CEREALS AFRAID To
LEAVE THEIR LINES OUT.
with Fundamentally Better
Tone-Provisiops n Little Up.

CHICAGO, Feb. u.-Timidity among
spectators in the grain pits over what
might happen during to-morrow's holiday
on the board led TO covering. and with
few bits of bullish news helped toward
better prices all around. May wheat regis
tered a net gain OF 1k65sc. corn &c and
oats l4Q9sc. Provisions closed shade TO
21Ac higher.
Trade in wheat was still much in the
rut Of the past week Information was di-
vided rather evenly between the opposing
forces, and it was largely the evening up
over tomorrow that brought out the scan
~ strength that held to this cereal. North
western receipts were light. but advices
had it that there was plenty of wheat there
that would soon come out. Reports from
Oklahoma and Kansas were unfavorable
for the winter crop and were regarded
merely the forerunners of a long series
of complaints about crop disaster that Will
accompany the opening of spring. Some
strength developed early in corn and oats,
and when Bradstreet's reported a decrease
in the worlds visible supply compared with
a large increase a year ago wheat was
helped upward. Liverpool cables were
steady at the start, but eased off. Bear
ism influences, such as light export de-
mand and good crop report from Mis-
souri,, worked against the advance some
what. May opened shade TO sc up. at
TI3.c to UqQ773sc, sold to 7Sc and then
eased back to opening prices again as corn
and oats lost strength. Later there was
a revival of good feeling and May closed
firm at it's top figure-1z06sc higher, at
1S1Sc. Local receipts were twenty-five cars.
Minneapolis and Duluth reported 2l5, a total
of 240, against 302 last week Seaboard
clearances in wheat and flour eQualed ILL.,
600 bushels. Primary receipts were $4,000
bushels.
Corn was lower at the opening on lower
cables and some forced selling for st.
Louis. Sentiment was divided for some
time and the Southwest began sending in
some beariSh news, which, however, did
not influence prices Shortly after the open
ing corn was trenSthened by reports of
fair sales at better prices for the sea-
board. Covering and the better tone in
wheat and oats did more to push prices
upward. May, which opened as low az
6l3sQ6112c, rallied TO 62lsc and closed rather
firm and &c up, at 6194Q6i3sc. Receipts were
102 cars.
Oats practically made up all their recent
loss on purely local conditions. The gain
was on the overSold condition Of the mar
ket after yesterdays raid and another at
tempt at the same tactics again this morn
ing. Shorts covered and without any out
side help prices got to within 1ec of Satur-
DAY close. Trade was nght. May, Whlcn
sold early to 42Ac, sold up to 1850 and
closed firm and 12q5sc up, at 43c. Receipts
were LAG cars
In spite Of big general receipts provisions
were strong. Opening prices We're lower
with the lower hog market and some early
selling for packers. A good commission
house demand for pork brought a sharp
reaction, and though much of the gain was
lost as the market quoted toward the
close, the general tone was very good. May
pork closed 212c higher, at Sl595; lard a
shade up, at $9.521AQ9.55, and ribs shade
higher, at $S.571aGS.6O.
Estimated receipts for to-morrow-Wheat
| 10 cars; corn, 50; oats, 30; hogs, $1,000 head.
Leading futures ranged as follows: