The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-03-06
BULL DAY in CEREALS
WHEAT AND CORN MAKE Small
FRACTIONAL ADVANCES.
Oats, However, Are Somewhat Lower
Provisions Also Are Down, Chiefly
on Heavy Run Of Hogs.

CHICAGO, March 5.-Speculation on the
Board of Trade was again dull to-day
Fluctuations were over narrow range,
and. though the tone ruled firm the greater
part OF the day on bullish crop reports, the
close showed May wheat and corn only "a
14c higher and oats 1sqAc lower. Provi-
sions closed NC to zoe lower.
Wheat bulls had fair encouragement soon
after the opening. Cables were only slight
ly higher, but Northwestern receipts were
much reduced. Added TO this was the bull
ish factor Of dry weather reports from the
Southwest. The effect Of the early bullish
surroundings was not felt with full force
until nearly an hour after the opening.
Trade IN general was slack, but the crop
conditions finally awakened buyers from
the country. The Southwestern markets
were active. St. Louis advancing May
prices 1c. May here opened a shade lower
to unchanged. at 76c to 761sq765<c. and grad
ually advanced to 76%4c. Shorts had COW
cred to some extent, though many specula-
tors paid little attention to the damage re-
ports. The small receipts in the Northwest
started the story that the crop yield had
been overestmated. Elevator stocks there
were decreased. There was no prospect or
moisture
prices built on this basis did not hold when
liquidation began near the close. May
eaSed off TO it's lower opening price and
closed barely firm at 1850. Local receipts
were thirty-seven cars, three of contract
grade; Minneapolis and Duluth reported 20
cars, a total Of $50, against 562 last week
and 3S2 year ago. Primary receipts were
10000 bu, against 6O7O0O last year. Sea
board clearances in wheat and flour equaled
Gil 900 bu.
Corn was given some support by the big
local bulls and prices ruled strong for a
time. Dizziness, however. characterized the
trade in general. St. Louis did some buying
here and helped early, and increased re-
ceipts had little effect. as traders were con-
fidently expecting a falling off in farmers
offerings May opened shade lower TO a
shade higher, at 6l24c to 6l1sc, and on Liver
pool buying sold up to 6212c. Foreign mar
kets were rather Indifferent to our advances,
cables being about steady. The Southwest
was still bullish; the cash demand improved
a little and the same people who bought
Yesterday renewed business. But the steam
blew off the market on dullness and late
liquidation and May reacted and closed
barely firm, 1sQkc up at 6l3sQ62c- Receipts
were 119 cars.
There was an early demand in oats
which, together with the strength in other
grains, held prices firm There was, how
ever, little change to the situation. May
was nervous and the crowd was uncertain
to action. Country offerings were light
and commission houses took some May,
sending 1t up to 445sc. Later the early buy
ers wanted to get rid of their holdings, and
az the demand slackened May sagged and
closed easy, sc to A4c down, at 44lsqH14c
Receipts were LOG cars.
Provisions suffered from the influences OF
a heavy run of hogs at the yards and con-
sequent lower prices. There was a fair
show of firmness early on buying by pack
ers. but later the crowd turned in to sell
and May pork closed zoe down, at $1510;
lard 712d10c lower, at S9.271a, and ribs 7I5c
lower, at $S.2711.
Estimated receipts for to-morrow-Wheat
30 cars; corn, 10; oats, 20; hogs. 40 900 head
Leading futures ranged as follows: