The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-03-08
FIRMER AT The CLOSE
GRAINS RALLY SHARPLY AFTER A
VERY DULL SESSION.
Good Export Demand and Crop Dam
age the Dominant Inhuences-Pro-
visions Also Close Higher.

CHICAGO March 7-Speculation in
grains was again a waiting game to-day
until just before the end Of the session,
when the development of fair export bust
ness augmented the influences of the usual
crop damage reports and gave all markets
an upturn. May wheat at the close regis
tered net gain Of sc. corn &c and oats
CSC. Provisions closed sc TO 15c higher
Wheat was slow most of the day because
of the divergence os opinions on the crop
condition. Weather predictions were for
showers throughout the suffering country
to-day, and even rumors of light showers
came to hand. The damage reports, how
ever, showed Kansas in a bad way, and
bullish advices kept coming in from Okla
homa, Texas. Indiana and Ohio. Gables
were firm and Northwestern receipts were
very light. These influences brought firm
condition shortly after the opening, which,
because Of rain predictions, started May &c
lower. For the greater part of the session
fluctuations were narrow and trade was
stagnant The rain reports from Kansas
eased May temporarily to 76ssQ761zc. after
having sol at 76s4c, but with the arrival Of
information of a better export trade there
came good bulge. This market worked
10 loads and New York reported 30 loads
taken for export. Shorts began covering
and some fair buying developed late. May
sold up with a squirt to 774sc and closed
very firm and ssc up at T7Ac. Local re-
ceipts were IL cars, none of contract grade
Minneapolis and Duluth reported III cars,
a total Of 1SS, against 400 last week and AIS
year ago. Argentine shipments were l.
O6S,VO bu for the week, against 900 the
corresponding week last year. Primary re-
ceipts were 356 900 bu compared with $50 900
bu year ago. Seaboard clearances In
wheat and flour equaled $4,000 bu.
Corn was dull and followed the lead Of
wheat. Cables were Indifferent, and the
firmness of the market was due chiefly to
the absence Of selling pressure. Trade in
general was a Scalping affair. Offerings
were small and receivers reported no ac-
ceptances of cash corn from the country.
Traders were looking for a gradual falling
on OF receipts for some time 10 come The
opening tone was firm and few commits
sion house purchases advanced prices.
Fluctuations, however, were very narrow
until wheat spurted. Then corn followed
in a measure and May touched 621sc. clos
ing firm and go up at 62q621sc. Receipts
were 102 cars.
Oats were very dull but firmed up bit
on light offerings. Talk of an improved
cash demand helped the speculative mood,
though traders were fighting shy Of May
options. Country offerings continued small
and receipts were only fair-lOl cars. May
sold as low as 44c, and with corn and
wheat rallied TO 44ssc, closing sc UP at
441Ac.
Provisions opened with good tone on an
improved hog market Trade was quiet,
but commission houses were fair buyers,
taking lard mostly, and the market held
well and advanced Offerings generally
were small and the cash demand fair. May
pork closed 15c up at $3.50 lard sc higher
at $e.421z and ribs 5971kc higher at $s.3715
0S40
Estimated receipts for tomorrow: Wheat,
Is cars; corn, Jos cars; oats, 80 cars; hogs,
q, 900 head.