The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-04-03
STRENGTH in WHEAT
MANY INFLUENCES CONTRIBUTE TO
A MUCH BETTER TONE.
Result Is n Small Advance, Other
visions Also Are higher.

CHICAGO, April 2.-Bullish sentiment up
held grains to-day and induced good in
acknowledging in wheat. The upturn in
wheat was all that relieved the board of a
day OF very dull speculation. AT the close
May wheat was Aqzc higher. corn Sc up
and oats sc higher. Provisions closed 212Q
171zc up.
Many things contributed to the strength
shown in wheat. Northwestern receipts
were small. the weather was cold and in
terror and Northweste elevators reported
decreased stocks. There were also some
doubt expressed as to the outcome of the
winter crop. Yesterdays Washington
weather crop report was bearish, but some
experts sent in depressing news from the
Southwest. Seeding was backward and the
freezing weather has been paralyzing the
growth of wheat. Cables were much lower
than last comparisons on Thursday. and
there was a slight dip in prices after a
fairly firm opening. Both the Northwest
and Southwest were reporting higher prices
and bought literally here. In spite of the
bearish influence there was additional buy
ing by the bull crowd that has been manip-
ulating July corn. Cash trade was improved
and sample people reported that indications
pointed toward a resumption Of export bust
ness. May wheat opened 1sqAc to AQSsc
higher at 12sc to dye, eased to 1Ac. and
by gradual stages advanced to I2lsc. Trade
at no time was heavy or excited. May
closed firm, AG1sc up az nc. Local receipts
for two days were 116 cars, two Of contract
grade; Minneapolis n Duluth reported
211, a total of only 327, against 17 one day
last week and 1000 for two days a year ago.
Primary receipts were 1900 bu, compared
with $4,000 last year. Seaooard clear
ances in wheat and flour equaled 527, 600 blu.
The seaboard reported eighteen loads taken
for export.
Corn trade was disappointingly slack. The
big manipulators in July options were not
In evidence, and the market settled into
its normal condition. Trade was mixed,
with little desire to trade one way or the
other, but the buying was better than the
selling side. Cash conditions helped the
market materially. though weakened cables
were somewhat depressing. At times there
was marked anxiety over what the bull
happened. Southwestern news was bullish.
but the outside influences were only slight
ly effective. Wheat strength aided some
what. May corn opened steady, sold down
to 6Oc, advanced slowly 70 605sc and fiuctu-
ated very narrowly; closed firm, CSC up, at
601zc. Receipts for two days were 2l6 cars.
Oats were dull. Receiving houses did
some buying. The market was fairly
strong. but the range OF fluctuations was
narrow. Cash strength and the tone OF the
other pits influenced better buying than
selling. May sold between 42c and 42%c and
closed firm, sc up, at the latter figure. Re
ceipts were us cars.
Provisions were fairly active to-day and
showed marked strength. The early hog
market was good. but this Influence was
soon withdrawn as the tone at the yards
eased. There was little disposition TO sell.
a large cash business at Western points
was reported and packers bought literally
of lard and ribs. Later pork was the most
active product and showed the best tone.
May pork opened l0c to l212c higher, sold
between S16.65 and $16.S0. and closed 171Ac
up at SIG. 721z; lard closed 212c higher at
$3.50 and ribs TIC higher at &.97h.
Estimated receipts for tomorrow: Wheat.
80 cars; corn. los; oats, 10; hogs, $4,000
head.