The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-01-31
BRIEF SHOW-OF STRENGTH
AFTER a FIRM OPENING WHEAT
sAGGED TO THE CLOSE.
Corn and Oats Register Fractional
Advances-PFOvision Dull and
Lower in All Products.

CHICAGO, Jan. 3O.-A buoyant corn pit
was the dominant factor in grain markets
to-day and for a time tended to lift all
prices. But though bu!lish sentiment
seemed to have taken hold of speculation
again, higher prices tempted proft-taking
and the close brought loss of CSC for
May wheat and gains of hQssc for corn
and CSC for oats. Provisions closed sc
lower all round.
There was a big trade in corn and on a
generally higher range of prices. strong
cash situation has been developing gradu-
ally on the strength of the cold weather
and to-day stimulated speculation to ac-
tivity. Altogether this cereal was the
strongest and most active on the board.
The situation in the West and Southwest
was the principal factor. Kansas City re-
ported a clearing out of it's surplus and
improvement in the demand. Nebraska
was not offering freely. In general, out
siders were bullish. Shorts here covered and
commission houses put in good buying Or
ders. A good support developed and from
an opening a shade lower to &c higher at
625sc to &c, May advanced until at one time
it sold at 63%4c, At such prices, however,
profit-taking was popular and most of the
sc higher at 69G63sc. Receipts were only
| ffty-three cars.
The wheat market was not what could be
called strong at any time. For a few
minutes after the opening, on the strength
of better cables, small receipts and a few
buying orders, there was a short-lived
| squirt and the tone was firm. But later
selling orders developed and in spite Of the
good influence of corn the market slowly
| saSged off. There was little of Importance
| In the news. Foreigners were not in the
market to any extent Shorts covered at
| times on reports of bullish sentiment in
the southwest and of poor shipments re-
sulting from the bad weather. When the
| market turned quiet short sellers were en-
couraged and helped to press prices some
| what May opened a shade higher to a
| shade lower at 79c TO 7S1c, sold UP to 791k6D
| 79Ac, and closed Sc down at 7S19d7S5sc
| Local receipts were only twenty cars; Min
neapoliS and Duluth reported 321, a total OF
| Sil, against $40 last week and 39l a year
ago. Primary receipts were $4,000 bu COM
| pared with $4,000 a year ago. Seaboard
clearances. in wheat and -four, equaled $685.,
The strength in oats developed on the
! corn bulge, on a good cash demand which
| has been steadily developing, and on cover
/ ing by shorts. The market opened higher
/ ana strong, but compared with corn was
| quiet. Commission houses bought we'll but
late profit-taking eased prices. May sold
| as high as 45c and at the close was firm
] CSC higher at 445sc. Receipts were twenty
| four cars.
Provisions opened with a show of
| strength. influenced by a good hog market
| the grain strength and a fair show of buy
| ing orders. Offerings were not heavy, but
| prices lost after the early advance There
| were narrow fluctuations on selling infiu-
| ences and the close was easy. MAY pOrk
] closed sc lower at $3.50. lard sc down at
| S9421z and ribs sc lower at s.. az.
Estimated receipts for tomorrow: Wheat
Is ears; corn. 65; oats. So; hogs. 1000
/ head