The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-04-10
ALL CEREALS ADVANCED
BULLIsH NEWS PREVAILED on THE
CHICAGO BOARD YESTERDAY.
Liquidation for Profits Caused Dips,
but Prices Were Higher at Close
Provisions Also Better.

CHICAGO, April 9.-Bullish news pre-
vailed in grains again to-day and brought
fair activity and better prices all around.
Liquidation for profits made the mar
kets dip at times. and brought a
restless feeling. Bull spectators, how
ever, had the pest of it, and continuing
the tactics of yesterday brought net
gain in May wheat of ssc. May corr
1sc and May oats sc Provisions closed
5Q10c higher.
Speculation in wheat was better than
for some days past. Conditions favored
the bulls from the start. Gables were high
er, receipts were very small only six cars
here, two cars at St Louis and one car
at Duluth, and clearances were nearly
double all receipts. There was a decided
sentiment that the market was OH the up
turn and good buying set in. some from
the country. Covering augmented the ad-
vance and advices from the Southwest
that the cold weather was not helping
wheat growth set many 10 buying. There
were continued reports of decreasing stocks
and Bradstreet's showed the worlds visi-
BILE supply decreased by 2,3O0.OOO bu, where
it was increased $4,000 bu last year.
Weather over the wheat States is cold
and dry, where the warm and rain season
is due to help make good the previous dam
age TO the winter crop. At times there
was profit taking that brought reactions,
but voluminous buying orders from the
southwest, where 1t seems crop conditions
are becoming worse brought good rallies.
Traders argued that the scspulative de-
mand for futures from that section gave
confirmation to the damage reports In
spite or the better tone, however, export
bids were out of line and the cash bust
ness was not very good May opened ia
14c to 14Q$sc higher at 71hd72c, sold to
72l.c, eased 10 715sGn&c and then spurted
TO 72lec, closing firm, 4sc up, at 72AQ321sc.
Local receipts were six cars. none of con-
tract grade; Minneapolis and Duluth re-
ported rs cars making a total for the
three points of only 81 cars, against 327
Primary receipts were 234, 600 bu, compared
with $4,000 bu last year. Seaboard clear
ances, in wheat and flour, equaled 433, 600
bu, against 100000 bu last year.
Corn started out with a good show of
the strength that put prices up yesterday.
Receipts were very small and reports from
the Southwest started good buying. Kan
sas City and ST. Louis did good buying
and their markets were up sharply. Shorts
covered freely, and at one time it looked as
If there would be a big bulge. Offerings
at the better prices and fair profit TAX
ing brought repeated dips, which the rail-
lies only barely overcame. The cash de-
mand was much better, st. Louis selling
for shipment $4,000 Blu, out of a total stock
there of $4,000 bu. Kansas City stocks
were reduced $4,000 bu. The temporary
loss of the advance in prices was due
largely to an absence of vigorous de-
mand. The late rally in wheat helped ma
terially. May sold at 591zc. eased to
5S1a@5S3sc, and closed barely firm, &c up,
at $3.50. Receipts were % cars.
Oats were quiet. but were aided some
what by the strength in other grains. Re-
ceiving houses were early buyers but for
time prices eased on corn dip. Some
support was given on the news that the
! Illinois crop had suffered from the cold
weather and that much Of il would have
to be reseeded. Trade was Indifferent,
May sold low 4214c and closed &c
! higher a 4215c. Receipts were 60 cars.
Provisions held firm against the de-
pressing influence of a weak hog market.
/ Lard and ribs were in good demand on
| a supposedly improved cash situation.
! Pork at times showed weak spots. but
| the whole list was supported by packers.
| May pork closed &c up at $3.50 May lard.
/ 1Oc up. at $500, and May ribs, ~ advanced.
/ at $3.50.
! Estimated receipts for tomorrow:
| Wheat. Is cars; corn. So cars; oats, los cars;
/ hogs, 5000 head.