The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-17
BROKERS VIEWS ON THE
WHEAT AND CORN MARKET
wheat was Weak Early and Sold on,
but Turned Strong Late on Armour
Buying-Corn wns Strong
Meyer & Kiser, Indlanapolis.l

Meyer & Kiser. Indianapolis
Dec. l6.-The market was nervous
and irregular. 1t was weak during the morning.
with local traders favoring the bear side and
looking for some encouragement 10 sell After
noon the market turned strong, presumably on
buying of May by the bull party. The profess
sional traders were forced 20 cover. helping the
advance. The Argentine news was buliish. some
damage being reported from rains This had a
steadying effect on the Liverpool market. Our
news was or the same tenor A
says that owing to insufficient moisture the crop
prospects are the poorest since the failure or
1898. There is no precipitation shown In the
winter wheat belt on to-day's weather map. ana
indications are 1r continued clear Sondaro e6r;
export via the gulf. and New YORK Is sald 10
have sold a cargo to Lisbon to-day Inc sea-
Five thousand bushels of red winter wheat was
sold here at Ss cents over the December. Inc
M SS@f Ssmena m is n9t a 7e i kssn TO as be OF WORKING aats; a fr
lower wheat values. The Liverpool market
closed lower. Estimated receipts tomorrow,
Corn was strong, all Gay. The local Profes.
SIGNALS were buIlish and worked that side. At
the same time there was some Improvement In
the commission house trade Country purchases.
market was about steady. The Iowa State re-
port makes the crop 2sO,o 600, 900 bushels, compared
frmer with a good demand, closing higher.
Estimated receipts tomorrow. l3O cars.
IA. r.. Thompson & Co.. Indianapolis-1
CHICAGO, Dec. B-The wheat market oe-
veloped much strength late to-day, after being
weak on local selling during the early selling.
There was an early decline Of about nc, but this
over the Tuesday close. There was the same
experience in all the UNNECESSARILY weakness
but strength later. The result seemed to come
from a general selling out, leaving the market
strong when any new buying was to be done.
Gables were a little lower. The Argentine news
was positively bullish. cables reporting the crop
premiums paid for the No. . red, ss cents over
the December. To-day's rally was a natural
reaction from a period of persistent selling.
while the big line was merely held.
Increased trade has probably been the potent
influence in corn. The commission house demand
was strong from the opening; The cash market
Css,ss str %n1s b With the The car Iowa. aots reS sgaG made Slsh the
yield 230. 900. 900 bushels, against 2yI,0O.OVo pusnels
last year. These State reports have not been
they have drawn attention to the small yield,
compared with last year. in the big States The
has been considerable changing between Decem-
Der and May.
[Porterfeld & Co.. Indianapolis.1
CHICAGO, Dec. TIL was a great OPP
portunity for the professional scalper to-day.
Wheat options, around previous closing prices.
sold down to put prices, s0ssc, and hung around
the low price until Northwest receipts and bull
markets got dull also. Then an authentic cable
claimed damages by rain to Argentina crop;
with final prices at s1%c. The news favored
the bulls. Think II a sale on bulges. but would
Cables were little lower. exports light. some
crop damage reports from South and North
west. but there was nothing but the regular
calamity howl We get annually.
Corn was strong throughout the day, gaining
a sit on n the ea bears are persistent in their areu-
ment that the cold weather means more corn
shipments, so far they fail to materialize and
and well scattered.