The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-04-11
WHEATDOWN, BUT CORNUP
OATS ALSO LOWER AT CHICAGO, BUT
PROVISIONS HIGHER.
Grain Traders Waited for the Gov
eminent Report and Tried to
Discount Its Effect.

CHICAGO, April 10.-Grain speculation
hung fire to-day while traders waited for
the government crop report and tried to
discount It. Conditions in wheat favored
bears all day, but corn more than made up
losses it met with early in sympathy with
wheat. At the close May wheat was 3sQ1zc
lower; May corn 1s@Ac up and May oats
&c down. Provisions closed 5G719c to 1Oc
higher.
Everything early in wheat was bearish.
Cables were lower. clearances small, the
weather warmer and the cash situation
poor. Added to these was the opinion of
many that the government report would be
bearish also. Receipts. while still small.
were not so conspicuously light as yester-
day. Under these influences May opened
AG2sc to safe lower at 72c to I17sc, and
gradually worked down TO 7l1kc. The crowd
showed little inclination to do anything one
way or another. There was some fair early
buying but 1t had only temporary effect.
Later there were some bad reports on
crops and better business reported from
the seaboard. Corn strength, which de-
veloped later, aided in strengthening the
market. May rallied to 72c but closed
weak, %sQ1zc lower at 717sc. Local receipts
were tWenty-SeVen cars, no contract grade;
Minneapolis and Duluth reported 137 cars.
making a total for the three points of 164
cars against pa last week and 245 a year
ago. Primary receipts were 262 900 bushels
compared to 416 bushels year ago. Sea-
board clearances in wheat and -four equaled
$4,000 bushels against $4,000 last year.
The seaboard reported twenty-five loads
taken for export.
Corn had the same sort of depressing
news TO start with as did wheat, but the
Southwestern cash markets overcame the
bearfSh influences and net gain was rec
Orded. Cables were lower. the weather was
warmer and the bulls early seemed indis-
posed to support the market St. Louis
and the Southwest were bulliSh and report
mission houses took most of the offerings,
much Of II for the Southwest. The move
ment OF corn was still small. Late in the
day large local interests came into the
market and bid prices up Foreign bids
had improved and New York reported cash
sales for Australian shipment. May
slumped early to 5S14 d5S2sc, but sold back
to 591sc and closed firm, 1sdAc up at $50
$3.50 Receipts were thirty cars.
Oats were dull and weak. Fair selling on
crop reports of good seeding conditions and
the early corn weakness easily depressed
prices. May was much weaker than the
movement hurt prices, but a report of good
cash sales brought a partial rally. May
sold down to 41&sc and closed &c lower at
H5sc. Receipts were 124 cars.
Provisions were active for a short time.
but lapsed into dullness with the general
wait for the government report. Hogs adj
vanced in price and packers supported lard
and ribs. There was a fair cash demand
for the former. Scattered selling for the
outside depressed values for a time, but
late buying sent them up again and
brought a firm close all along the list. May
pork closed 10c up at 1850; May lard 5G7lzc
higher at S9.65Q9. S7l2. and May ribs 5q712c
higher at $S.95GS9715.
Estimated receipts for tomorrow: Wheat.
10 cars; corn, co; oats, So; hogs, $4,000
head.