The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-03-19
MIXED WHEAT SENTIMENT
a. SHOW OF STRENGTH BRINGS
A SLIGHT ADVANCE.
Corn n shade Down and Oats Mark
eddy Weak-PrOvisiOn Market
Is Disappointing.

CHICAGO, March 1s.-Bad wheat crop
news was the leading factor in the recov-
cry Of strength in the wheat pit after yes
terday's weakness. The warm weather in
fiuenced lower prices in all grains at the
opening, but wheat lent of it's strength. and
at the close May wheat was sake higher,
corn only a shade under and oats sc down.
Provisions closed unchanged to 21zc higher.
Trade in wheat, as in other grains,
started out slow and irregular. The warm
er weather in the winter wheat country
and still more predicted naturally killed all
the cold weather influence. At the opening
there was plenty of wheat for sale, partly
as a result of lower cables. Shorts, how
ever, covered freely and there were sew
eral fair reactions. Then bullish news be-
gan to arrive. Bredstreet's report indi-
Gated a decrease in the worlds available
supply. This helped prices, as did the re-
Ceipt or the worst crop damage complaints
yet received from Kansas and Oklahoma.
1t was reported that Manitoba wheat was
arriving freely at Duluth, and this proved
a bearish influence. On the other hand
prices for Manitoba wheat, which a week
ago were &c under local May options, were
to-day only 112c under. The Western ana
movements were cuIlaIlSu dS
compared with last years figures. On the
whole, though early May wheat prices were
under Mondays closing figures, the crowd
was inclined to play for a recovery. May,
which opened a shade lower to a shade
higher at 1412Q14Ssc, eased to 1850 and then
reacted TO 75kc. St. Louis was a depress-
ing factor. and the weather also prevented
better prices. May closed firm and S412c
higher, at 75c. Local receipts were seven
ty-three cars. one of contract grade; Mime
apolis and Duluth reported Ss2, a total OF
43o, against 3S last week and oS a year
ago. Primary receipts were $1,000 bushels,
compared with Isl. 200 a year ago Sea-
board clearances in wheat and flour equaled
1886, 900 bushels.
cables were lower and the warmer weather
West worked against the demand, Dased on
the expectations of greater feeding REQUIRE
heavy, though the market had numerous
dull spots. Country offerings were still
small, but the recovery attended the show
OF strength in wheat. Receipts were sun
light. though larger to-day than estimated.
May opened al to 2s61kc lower, at 61%c
TO sligo. When wheat recovered May corn
sold 10 62Lc. Offerings still were Sulnclent
10 supply all demands and May closed with
a slightly easy tone. a shade lower. at 61zsc.
Receipts were ISL cars.
There was a little furry in May oats
early. Traders had some selling orders to
execute, and as the market declined numer-
Gus stop-loss orders were met. and before
the market steadied May lost Use Nervous
ness still is manifested by traders over the
May deal. Both July and September were
fairly steady all day and huctuated with
the other grains. May, which sold as low
as 49ssc. recovered much of its loss but
closed weak. SIC down, at 442sc. Receipts
were 155 cars.
Provisions were very dull and fuctuated
narrowly. Bulls suffered a disappointment
over the action of the market, which, in
the face of a falling short of 1900 head I'm
the hog receipts under estimates, showed
little life. The market did not feel the eff
feet OF the fluctuations in grains. May
pork closed PFC higher, at S15.S71z; lard un-
changed, at 1896, and ribs 212c higher, at
S.35.
Estimated receipts for to-morrow-Wheat,
30 cars; corn. 20; oats, IS; hogs. $1,000 head.