The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-04-17
GRAINS VERY IRREGULAR
ARL STRENGTH DIssIPATED BY
RAINS AND LIQUIDATION.
Corn the Heaviest Loser, Closing
and Hog II. oducts Declining.

CHICAGO, April 16.-There was sharp
and irregular action in the grain pits to-
day. Dry weather reports were strength
ening influences early, but rain came TO
the relief OF the bears and prices were
forced down. May wheat closed Ssq&c
lower, corn nc down and oats unchanged.
Provisions lost 2l9q5c TO 15c.
Conditions in wheat favored better prices
at the opening. Gables were strong at good
dvances and dry weather reports continued
to come from the suffering Southwestern
wheat country. Rains were reported in
oklahoma and Kansas. but mail advices
generally stated that the recent rains were
not sufficient and that much of the stand
ing grain would have to be plowed W. In
huential interests were buying early after
a momentary reaction, and prices for some
time held strong. Near the noon hour a
selling movement was started on reports
of rain in Iowa, where there has been much
misgiving of late. Some of the st. Louis
crowd were heavy sellers, as were commits
sion houses. The corn collapse was a
strong bearish factor, and though the out
slider was buying literally, the day closed
with much lower prices. May wheat started
a shade to sQAc up, at 74q741sc, sold az
1880 and then worked up to 1850. On the
decline May sold at 731sQ73Ac, closing SO
&c lower, at 7SAc. Local receipts were for
ty-eight cars, one of contract grade; Mime
apolis and Duluth reported ninety-six, a
total of IA. against eighty-one last week
and 203 a year ago. Primary receipts were
$4,000 bushels, compared with 1000 last
year. Seaboard c~learanceS in wheat and
-four equaled GIL 900 bushels. The seaboard
reported exporters idle and cash grain busi-
rn0lnnfa1 hnnnr tho ENnOIlCh dill
ties.
Liquidation in corn ruled the day. Early
influences of cables and wheat trade were
bullish and helped corn for a time. The
pit, however, was very nervous, and after
some fairly heavy buying early bears be-
gan to pound the market to force longs TO
let go. At top prices long corn came out,
but the holders did not press the stuff in
judiciously on a weakening market. st.
Louis, which was firm early, eaSed off, and
this market declined steadily. Trade at
times had dull spots. The last hours ac-
ton, however, was spirited and or average
pressing nature. The wheat decline was
a bearish factor. May corn slid off from
631sc to $3.50 and had only a slight rally
at the end, closing lac lower, at 6l%c. Re-
ceipts were very light at thirty-four cars.
Oats were quiet and were traded III on d
moderate scale, though fluctuations were
cratic. Corn was the leading influence
There was still some confusion over the
new grading of standard oats. The new
oats held their premium OF l3sc for. July
and 1850 for September. May 1uctuated be-
tween 427sc and 43Ac and closed steady and
unchanged at 4Sc. Receipts were thirty
four cars.
Provisions were liouidated to-day on the
influence of a weaker hog market. The re-
cent higher prices for hogs have been
bringing out increased numbers from the
country. On the decline in products pack
ers came TO the support and there was d
slight reaction late from the low points.
May pork sold at &c. 20 and closed 15c down.
at $l6.T715; lard closed 5Q71ac lower, at 81. 40,
and ribs 2ih45c down, at S915.
stimate receipts Tor to-morrow-WEeat,
40 cars. corn, 60: oats, 40; hogs. $1,000 head.
Leading futures ranged as follows: