The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-04-05
WHEAT AND CORN LOWER
BEARIsH CONDITIONS PREDOMISATE
IN THE RAN PITS.
Oats, Independent of the Other Ce-
reals, Advance F~ractionaIIy-
Provisions Generally Down.

CHICAGO, April 4-Bearish crop advices
prevailed in grain speculation to-day and
worked against other strengthening innu-
ences TO depress prices. Trade was drag
ging at times, but prices ~fuctuated ner-
vousIy. May. wheat closed &c lower. corn
4sqAo depressed and oats &c up. Provisions
closed unchanged to 5Q7hc lower.
Wheat had only a momentary respite
from bearish news. The opening was lower
on the fair weather. lower cables and good
corn advices. Belated shorts had stuff for
sale and bears grew moro confident. At
the early low prices elevator interests
bought heavily Of May and July-very close
to 100000 bu-and the market began to
vance. The shipping demand was i'm
proved and shorts covered, sending may up
to 1a4c. after opening &c TO &c lower at
IO7s471c. At this point. however, the crowd
turned sellers again. The Ohio State wheat
crop report indicated a condition of "a,
against 81 on March l. This was taken as
partial confirmation of yesterdays bearish
crop reports and pressed on prices. Corn
was slow and exerted little influence on
wheat, but the wheat bears sold aggressive
~ in all the hard spots and succeeded in
getting May down to 704c. Some of the
later selling was supposed to be for the
elevators that bought early. May closed
only easy and Ac lower at 70Bc. Local
receipts were p cars. none of contract
grade; Minneapolis and Duluth reported
PIG, a total of 237 cars. There were no
comparisons, this day last week and a year
ago having been holidays. Primary re-
ceipts were small at $4,000 bu. Seaboard
clearances in wheat and flour equaled $751; 900
bu- Argentine shipments for the week
were 1,l36,OO0 blu, compared with ~1.224,OOO
last week and 1,696,Oo0 a year ago. The
seaboard reported 70 loads taken for export.
Corn was dull and dragging most or the
session. Fair weather and country adviceS
TO the effect that farm work was progress
ing well brought about selling orders by
commission houses. There was some de-
mand for September and small receipts
helped retard the decline. Gables were
lower and the cash demand inactive. These,
together with the late wheat decline. tended
to weaken corn and May sold down from
695ac to 5s7sc. and closed weak and Ss4Ac
lower at $3.50. Receipts We're only 63 cars.
Oats were dull and fiuctuated very mar
rowly. The cash demand was good and
receipts were light. There was fair early
buying on the opinion that May Is TO be
advanced. May sold 10 43hc and closed
steady and sc up at $3.50. Receipts were
IS cars.
Provisions showed some activity. but it
was mostly of the downward sort. Hogs
were weaker and started fair selling. The
outside liquidated literally and stcp-loss
orders were met. The cash situation was
tame. The only fair show of strength was
that Of lard. which was supported some
lower at Sl6. 37l5q16. 40, having sold as low
as $500; lard closed 2lec down at $9.57lz,
and ribs unchanged at $S.s71R-
receipts for tomorrow: Wheat,
Is cars: corn, So cars; oats, 20 cars; hogs,
1900 head.
leading futures ranged as follows: