The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-03-05
GRAINS A LITTLE HIGHER
EARLY BEARISH TENDENCY OVER
COME IN LATE DEALINGS.
Small Fractional Advances Estab-
lished i'm Wheat, Corn and Oats
Provisions Shade Up.

CHICAGO. March 4-Trade in grains to-
day was exceedingly dull, but the tone was
somewhat firm. Corn strength helped other
pits and the close showed Nav wheat &c
up. corn 9sc higher and oats 14c higher Pro-
visions closed unchanged TO a shade higher.
Opening conditions in wheat were bearish,
but the sentiment soon changed, and.
though the trade hung fire, the tone held
bullish. Bearish traders were fearful to
sell short during the present uncertain state
of the winter crop. Commission houses
bought a little and claims were made that
st. Louis and the Southwest were buying.
There still no moisture in the South
west, but weather conditions were favor
able otherwise. Corn strength helped some
what, but the extreme dullness, due partly
to brokers idly watching in vain for the ar
rival of Prince Henry to view the pits, took
the edge off the gradually growing bullish
sentiment. Gables were somewhat lower
early but improved 'as Bradstreet's report
of the worlds visible was bearish. May
opened Ease up to a shade lower, at 7524c
to 76c, worked up TO 76AQ769sc and closed
steady, &c higher, at 761s47614c. Local re-
ceipts were forty-seven ears. three of con-
tract grade; Minneapolis and Duluth re-
ported 2S9 cars, a total of 1886, against 474 last
week and 3S2 year ago. Primary receipts
were 10000 Blu. compared with 539, 900 last
week. Seaboard clearances in wheat and
flour equaled III, 900 bu
Corn acted strong Immediately after a de-
pressed opening Cables were lower and
buying orders were scarce, but offerings
both here and West were very light. The
early selling was over in a short time and
the buying improved. though in general
business was dull. The later sentiment was
bullish and a better export demand was re-
ported. The Southwest was as bullish as
ever and prices advanced on the fear that
the country movement West would de-
crease. May opened 3sd1Rc to a shade low
er, at 6024c to 611sc, sold to &c and closed
firm, sc higher, at 61$4d617sc. Receipts were
152 cars.
Oats were dull though somewhat nervous.
Some May stun was offered at the opening
which, with the early corn weakness,
caused lower opening. Fluctuations con-
gained in strength May worked UP a little.
At one time the buying IN this pit was the
strongest on the floor Commission houses
and pit shorts did most of the buying. On
the advance a good many long oats came
out and the market for time turned weak
and closed only fairly firm. May &c up, at
HSsc. Receipts were 107 cars.
Provisions were dull and flucUuated over a
very narrow range. The opening was fair
~ strong on the light run of hogs at the
yards but pork weakened on scattering
selling for the outside account. The de-
mand later picked up on buying by pack
ers. Lard and ribs had an upward tend
ency. May pork closed unchanged at $3.50.
lard a shade up at 50 35@9.3 and ribs un-
changed at $S.35.
Estimated receipts for to-mOrrow-Wheat
Is cars: corn. So: oats. 60; hogs 40 900 head,
Leading futures ranged as follows: