The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-06-03
ALL GRAINS ARE HIGHER
HEAVY BUYING AND SHORT COVER
ING ADVANCE PRICES.
Gains Range From 3-4c I'm Oats to
1-2 I'm COrn-PrOvisiOns Strong,
Closing at Good Advances.

CHICAGO, June 2.-Trading was active in
all markets to-day, and higher prices ruled,
July wheat closing 1ssc higher, corn Csc to
21zc higher. and oats up &c. Provisions
were strong, September closing from 7lzc
to 32l5c higher.
There was a big trade in wheat, and
prices were decidedly strong. the storms and
floods in the West and Southwest, and the
reported destruction of thousands of acres
of grain. with the advances at st. Louis
and New York yesterday, being responsible
for the excitement at the start. 1t was
entirely a weather market, the foreign mar
kets, with the exception of London, being
closed. and, although there was an advance
at London, statistics were bearish, worlds
shipments being large, and there being an
increase in amount on passage of 1,2So000
bu. July opened 1bq1Ac to 1%@1%c higher
at 74&@75Ac. but under heavy liquidation
by local longs the price eased off somewhat,
July declining to 744sc The Northwest was
a good buyer. and with a decrease in the
visible supply and on the strength at st.
Louis the market again advanced. July sell
ing up to 751sc. The strength was we'll
maintained, although there were some re-
cessions toward the close. Final figures
July were 1ssc over Fridays close. at 751s@
75Ac. Clearances of wheat and flour were
equal to 1,SlS.0OO blu. Primary receipts were
10000 bu, against 43l. 700 bu a year ago. Min
neapolis and Duluth reported receipts of $40
cars, which, with local receipts of SO cars,
none of contract grade made total of 575
cars. against 233 cars last week and 15S cars
year ago.
The opening in corn was even more excited
than that in wheat because il was the gen.
eral supposition that the prevailing floods
undoubtedly would cause the most damage
| TO the corn crop. and there was wild
scramble among shorts to cover. AS a re-
suit of their endeavOrs prices showed wide
| variations, difference of 1c being noticed
| in bids at the same time in different parts
OF the pit. July was up 11sc to 2lsc at the
for sale, although there was considerable
realizing later on. Offerings were we'll
taken, however, and prices were well main
tanned; After selling between 46%c and 4Sc
Receipts were 1,243 cars, 1O3 Of contract
grade.
| Oats ruled strong, in sympathy with other
| grains and on the unfavorable weather
! Shorts and outsiders were good buyers.
| There was some realizing on the advance.
which caused a slight decline. Closing
prices were strong, With July &c higher at
34Ac, after. ranging between 341zc and 351sc.
Receipts were 359 cars.
Provisions shared In the general up turn.
| The strength In the grain markets. the
closing of the packing plants at Kansas
! City, and an advance of 10c to 15c in the
price of hogs stimulated a good demand for
| all products. There was good buying by
outsiders and shorts, and further advance
| was made, but later realizing caused a par
| tial loss of the early gain. The close was
! strong, with September pork 3279c higher at
s17.0215, lard 15c higher at $685. and ribs up
ne at s92711.
Is cars; corn, 107 cars; oats. $50 cars; hogs,
| 80 900.