The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-02-07
But ONE CAR OF WHEAT
OLE ARRIVAL OF LEADING STAPLE
AT CHICAGO ON THURSDAY.
Receipts of other Grains Also Light
Prices FrnctionaIly Improved
Small Gains i'm Provisions.

CHICAGO. Feb. 6.-Speculation in grain
was dull again to-day. and the markets
were characterized by much hesitation. At
the outset the sentiment was bearish, but
with the advance of the session traders
seemed to be ready for a bull turn and
prices reacted well. May wheat closed 50
15c niger. corn &c up and oats Sc ad-
vanced. Provisions took a good squirt and
closed 7l5q1Oc 10 17kc- higher.
Conditions for wheat traders were little
changed. Gables were only slightly lower.
early reports of the conditions of the grow
ing crops were rather favorable, and May
opened, with some selling, 1sc lower to un-
changed at T7ssq77Ac and dipped TO nag
T3sc. Proft-taking by shorts set in soon
after the opening, and spectators began to
change front. A prominent trade paper re-
ported the growing plants unusually sus-
ceptible to weather conditions, which had
some bulllsh effect. May gradually sold up
and ~fiuctuated very narrowly. There was
some fear that the market might be over
sold. but small advances in the outside
markets and a slightly better cash situa-
ton, as indicated by a better export bust
ness at the seaboard, probably helped most
IN the late squirt. Receipts were so limited
only one car ~tO-day-that bulls began
talking of tenacious holding by first hands.
But, though there was some effect from
this FACTOR, the reports that shipments
would be good if cars could be had neutral
lied this influence. May at one time was
selling at 7S4c, and closed after another
dip, firm, $sq12c higher, at 7SlsQ7SAc. Min
neapols and Duluth reported pa cars. a
total of only 2lS, against 34l last week and
331 a year ago. Sales Of 10000 blu since
yesterday for the seaboard and twenty
four loads at New York were reported.
Primary receipts were 331 900 bu, compared
with $4,000 last year. Seaboard clearances
In wheat and flour equaled LIZ. 900 bu.
Corn worked much the same way as
wheat. There was some little bearish SEN
tlment at the start on lower cables and
selling that brought lower prices. Fluctu-
ations were limited TO a range of 1aQ4sc,
following largely the lead of wheat. Stocks
at both Kansas City and ST. Louis were
were very small, and the tremendous dis
crepancy of this years exports was shown
In the report of the total seaboard ports
OF only $3.50 bu, as compared with 6S2. 200 a
year ago. Shorts covered 10 some extent,
and on the upturn May sold at 632sQ631ec,
closing rather firm and nc up at $3.50. Re
ceipts were 20 cars.
Oats had another comparatively fiat day.
The early support came largely from wheat
and corn, though later there was some
small show of independence. Trade was
narrow and OF a local character. Inc OPEN
ing was slightly bearish. but toward noon
the bullish sentiment held sway and May
sold up TO 44as44412c. closing firm and &C
higher at 1850. Receipts were Al cars.
Provisions were dull until just before the
close. Late in the session packers bought
literally, and after a dip from the early
firm prices products sold up strongly. lay
pork closed 171kc higher at $16.021a, lard 71aa
10c VI at $9.55 and ribs 10c higher at $S.571b.
Estimate receipts for tomorrow: Wheat,
cars; corn, 20 cars; oats, 80 cars; hogs,
10000 head.
Leading futures ranged as follows: