The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-05-22
LITTLE LIFE In GRAIN
WHEAT CLOSES LOWER AFTER A
SMALL OPENING Squirt.
Corn and Oats Hold Part of Their
Small Gains-Hog Products Lower
from the Start.

CHICAGO. May 21.-Activity in grains
was short lived again to-day. Traders gen.
orally were waiting for signs of something
new. but once more had TO rely on the
weather as factor. July wheat closed "a
sc lower corn lsGAc up and oats 14Q2sc
higher. Provisions closed 21zG1Oc lower.
Wheat was dull save in spots. Early
there was a show of good strength on the
corn bulge and on reports of a good ex-
port demand and purchases of September
supposed to be for foreign account The
local crowd started to bull the market and
succeeded for a time. When the move
ment had carried prices along fairly well
for a time corn sagged and wheat turned
very dull. Liquidation then set in, and
inasmuch as the shorts had covered early
and there was no demand for stuff from
that quarter when selling began prices
had pretty bad tumble Moreover, the
expected export demand did not material
ize. General conditions were favorable to
the selling side. The weather was clearing
Northwest and rains fell in the Ohio val
ley, where they have been much needed.
In spite of the constant talk of late seed
ing Northwest, advices from Minneapolis
stated that the general spring acreage
would be about as large as last year. July
wheat opened 1sGAc TO &c lower. at 1850
to 7415074Ssc, advanced to 751s675lc and
slumped TO a weak close and 13d%c de-
pressed, at 74Lc. Local receipts were
twelve cars, two of contract grade Mime
apolis and Duluth reported ninety-three
cars, total of los, against 146 last week
and 2S9 a year ago. Primary receipts were
wit Ia St
year. Seaboard clearances in wheat and
-four equaled $4,000 bushels
Corn had very good early support. but
could not hold the advances that were
made during the first hour. AS on yester-
day. the principal bull factor was the very
small run of cars here, only thirty. Com
mission houses bought literally for a time
and leading bulls sold freely without de-
pressing the market. Bulls also were
claiming very small country acceptances,
but in this connection it was reported that
bids to holders had been reduced and that
farmers and receivers would not sell at the
figures offered. This, it is said, accounted
for the reduced offerings. After July had
sold up from else to 62Ac the demand fell
off and selling ensued. The crowd of shorts
who had covered early took advantage of
the lapse into dullness and sold short
again. Prices dipped and most of the day 5
gains were lost July closed only firm and
IsQAc up, ct 621kG62Ac
Traders in oats were guessing to-day as
TO what deal is on in their favorite grain.
Early in the day the same sort of buying
that started prices upwards yesterday set
in again. There was little pressure to sell,
especially when wheat and corn were
strong. Prices advanced well for a time.
but were affected by the reaction in other
grains The close was barely steady in
most options. with July showing the best
advance-AQ3sc higher, at 371sQ374c. Re
ceipts were 134 cars.
Provisions were slow and showed de-
clines in everything on the list. Hogs were
lower and started an easier market. Some
support was met that stayed the decline
for a time, but the close depressed.
July pork closed 10c down, at $17.0712; lard
2l9c down, at $l0.15, and ribs 5Q712c lower
/ at $9.5712G960.
Estimated receipts for to-morrow-Wheat
! Is cars; corn, IS; oats. 30; hogs. 10000 head
Leading futures ranged as follows: