The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-04-01
ACTIVE AND IRREGULAR
THE GRAIN MARKETS FLUCTUATE
UNDER VARYING INFLUENCES.
Wheat Closes Unchanged and Corn
and Oats at Fractional Advances
provisions a Shade Better.

CHICAGO, March 31.-Speculation in
grains was active and nervous to-day. fol-
lowing the irregular antics Of the corn pit.
Trade was largely of a manipulative char
acter. which puzzled the public. At the
close May wheat was unchanged, corn so
&c higher and oats 12c higher. Provisions
were weak for a time, but closed unchanged
to 21Ac higher.
There was good strength in corn at the
outset, due to the influence of the cold
weather West and Southwest. This was
a good excuse to start covering and buy
ing. but the crowd which has been active
of late in a bull deal in July options jumped
into the pit and sold one million bushels Of
that delivery in about ten minutes. Specu-
lators were staggered for a time and all
prices lost in consequence. July lost Ic
straight to 6O1sc, and May, which opened
Bq14c to Aq%c up at 6Olsc to 6OAc, slipped
down to $3.50. 1t was thought that the bull
crowd had intentionally bid up the open
ing prices preparatory TO the heavy selling.
After this break corn seemed to be alb
sorbed in a quiet manner and ii was sup
posed the cereal was finding its way back
to it's early holders. There was a dispo-
sition to cover on the bull deal talk, and
prices advanced gradually. The close was
firm, May BGAc higher at 6O1sc. Receipts
were 1T cars.
A natural reaction from Saturdays de-
cline and the effect of the corn strength
caused wheat to open a shade to 1sQ4c
higher at 14c to 12sc. Statistics, except
the increase on passage, were bullish. Cold
weather, though lightly spoken of, had its
effect on corn. The early tone was almost
strong and was aided materially by COM
mission house buying. All this show of a
reviving market went glimmering, however,
when corn broke. The market was very
unsettled. The Southwest was bearish at
times and sold heavily here. Stop-loss or
ders were reached and May prices reached
a new low mark for the season-70Ec. Late
in the day there was some talk of crop
damage in the Southwest, but most of the
spectators were inclined to treat the argu-
ment lightly. Receipts were 70 cars, none
/ contract: Minneapolis and Duluth reported
391, a total of 40 cars. against 541 last week
and 562 last year. Primary receipts were
$4,000 bu, compared with SCI 900 a year ago.
Oats were dull and almost featuFeless.
The price was easy at times in the alb
sence of demand and on the weakness in
other grains. Oats did not show as much
weakness as the other grains. May sold
to 421sc, and closed firm and 12c up at 42c.
Receipts were 132 cars.
Provisions were active and irregular.
There was an early strong feeling in the
face of a weaker hog market. but 1t did
not last long. Commission houses liquidated
for outside longs literally, especially in
May and July pork. This depressed prices
and showed that the bulge of the last week
was mainly caused by short covering.
Packers came TO the rescue of the market
by buying through brokers, and even sent
prices above Saturdays closing figures.
Realizing sales toward the end brought dips
again and May pork closed unchanged at
1865, lard unchanged at s9.771R and ribs 211c
up at $S.S0dS.90.
Estimated receipts for tomorrow: Wheat,
% cars; corn, 13 cars; oats, 100 cars; hogs,
$4,000 head.