The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-04-09
WHEAT AND CORN ARE UP
sBEARS SHAKEN FROM THEIR POSI-
TION on THE SELLING SIDE.
Good seaboard CIearances of wheat
Oats Are Lower-HoG Products
show Small Advance.

CHICAGO. April S-After having had
things comparatively their own way for
some lie, bears in grain speculation
wavered from their position to-day, and
becoming less confident of a big crop Of
winter wheat. allowed prices to be pushed
up. AT the close May wheat was sc higher,
corn &q7sc up and May oats sc lower.
Provisions closed 21zc to 71zc higher.
Wheat trade, the greater part of the day.
was dull and dragging. At the outset cables
were barely steady and foreigners were in
different. There was almost no outside in
terest, farmers being occupied with their
farm work. September was sold early in
liberal amounts and yesterdays small gain
was wiped out The first bit Of decisive
news was the report of 926,0O0 bushels Of
seaboard clearances. This gave a decided
snap to the market for a time and resulted
in an upturn in prices. The early short
talent covered and there was some fair
buying on the anticipation of bull turn
before delivery day. Receipts continue very
light and crop reports in some instances
have been rather unsatisfactory. The gen
eral tenor of the market after the extreme
. early dUllness was much improved, though
the advance was trivial May wheat opened
1s@Ac 10 a shade lower at nlsc TO 1lAc,
eased to tic and rallied quickly to n&ae.
The close was firm, May CSC higher at 1l5s
QI1$4c. Local receipts were seventy cars, one
of contract grade; Minneapolis and Duluth
reported 100. a total of 2S5, against 20 last
year. Primary receipts We're $4,000 bushels,
compared with $4,000 year ago. The sea-
board reported fifteen loads taken for ex-
port.
Corn, which has seemed to be without
friends for some time past started in again
to-day on the downhill road. Cables were
lower, trade was dull and there was mod
crate liquidation. Sellers have been some
what diffident for day or two and the
bear side has been aided mostly by tired
longs and a few very cautious short sell
ers. The bear trend the market has taken,
however, left a large short interest. Trade,
therefore, needed only the upturn in wheat
and short estimate of only thirty cars to
be received at this point tomorrow 10 set
shorts covering heavily. The dullneSs,
which lasted till almost midday, gave way
to active buying and May corn advanced
5712c early but closed strong at its top
figure, &U3sc higher, at 5SAc. Receipts
were ninety-nine cars. Two loads were
taken at the seaboard.
There was free selling of May oats,
caused by an increase of $4,000 bushels in
contract stocks. Corn weakness kept prices
down for a time and the rally only brought
partial recovery. Trade was not heavy
nor was the f1uctuation wide September
and July had small trading. May sold down
to age and closed steady, 1sc down, at
423sc. Receipts were 127 cars.
Provisions were only fairly active. There
was free selling early on the part of pack
ers, and prices declined. Some support was
offered late and on the bullish hog situa-
and advanced to a steady close. May pork
sold as low as $162l12 and closed PIC up at
SIS IS; lard closed 26c higher at $3.50 and
ribs 715c up at $S.S212.
Estimated receipts for tomorrow: Wheat,
II cars; corn, 30; oats, s.; hogs, $4,000 head.
Leading futures ranged as follows: