The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-20
LUith the Grain Brokers;
Present Market Conditions

The week in the speculative wheat market
closed with one of the most active markets In
the May and July options since the present Ar
mour operations were begun May closed yester-
day at ssssc the highest price for this option
since last August, and gain OF Zssc Over b as.
sion Yesterday was 1hc. and the advance over
Fridays last price is nc The Decemoer opt, ION
last 1 Drice week ago The July closed the week
1sc over the last price week ago. at "s4c.
xxs
Short covering probably had good deal 10 90
with yesterdays advance In wheat Short COW
erinc didn't start the market up. OF course Inc
upturn started from more reports OF growing
trouble between Japan and Russia, smaller re-
s.,,,s larger export demand and the bullish
renorts When the bulge was well started II IN, no
doubt was helped along by short covet hss; esne
ciai,v The MAY. there is little doubt and IL Is
thought the short interest grew larger Sn
ehs, wheat isn't worth the money, at present
nrces and that the advance has peen oue aiii .b
pitoaether 10 Armour manipulation; ana tns
ait3ge.nehs sat has gone the firmly convinced
has good part of the snort siue go, the
m wsqa A .o%e day it pieces LITERALLY
This opinion strengthened when , ,ne i r. was
hroke. the middle of last week, pecau'e' ~
6aured. Armour did little buying
r-,,. :, &c although Armour is in the market
,ha. General conditions do seem to be swapping
themselves more and more in favor OF the long
holder. Seventy-fve per cent OF the Noi'"".
err crop is marketed, according 10 rehapie
sources of information. the Southwestern Receipts
are getting little smaller ana for wheat
WIZ ;s larger apparently. than the supply:
The domestic situation has unqussu3hna ay beva
liz huiltsh all along. but the pears nav
pre,ysa that this condition did not warrant pres.
emit prices because this county ss last year by 50
Der cent. Now the export demand Is se''''s
larger. Ii seems xxx
,,ovament situation In this section has
-oso,,,oa itself into the question OF getting
49, rouer Country offerings have become
-.,hor liberal of late and the country elevators
90 f,u I'm many instances And the corn =, Is
now getting into pretty EoHu to this point now
ti i ,han the crop was wet and unht 10 snip
East At that the little corn that was IN sh
tion to s cnnId hardly get for Now there
e. moderately good supply OF ear st he roads
seeu on, able to furnish motive power
xxs
49,, .nact,on Of corn at Chicago is showing
so,,s announcement. There is more OF the NO.
and less of the no-grade. Corn people say inc
re-, will he willing to take No. corn ana they
predict with improvement IN me er aua,x b Sa
more natural shipping situation ana stronger
speculative situation as eoyered. the men who
In corn al. On IN the loc break Wells, the Cuda-
hys and others are believed 10 nave e. Zen VI
a1Id 70 he rather Indifferent now as 10 the maj
Vet But, while these big shorts nave So'eIeu.
80 mas bean more less shorting OF the mar
III. ~ the eleventh-hour traders. There wouo
ke' osorsiderable demand from this style OF bear
n ANYTHING started the price UP.
"The East Is beginning to take all new corn
for ar-ratl shipment for export says George
McReynolds the prominent Chicago commission
- ..Th,s demand and the large export bust
-. r.ported at the seaboard evidently mean
-, .hs foreisners who had been waiting for a
his movement OF our crop In the nope OF buying
hsaner have decided not TO wait any longer
They have probably been innuenced oy the Ar.
asntina situation. Our New York advices report
| ,hat Argentina shipments are gradually decreas
sng that offerings have fallen on sharply, thai
,n1sssners are showing more disposition TO buy ir
| this country, and mat they, VIII PiooaoiS pus
| more freely In few weeks
Saws the Northwestern's local correspondent o.
| the wheat and milling situation here: IF there
a ANYTHING in the of supply and demanC
| there certainly should be from now on yer,
| strong market In winter wheat. From all quar-
tiers of the winter wheat section there comes
| comnlaint of lack OF wheat receipts never known
| an twenty years With this lack OF wheat deliv
| cries relatively higher prices for what Is re
| ceiyed and the disappearance OF the flour buye
| the winter wheat millers lot Is not pieasan
| DAYS in the -four trade has apparently set In
| and hut little In the way of new business can b.
| expected this side OF Jan. l. After that Their
| will certainly be an improved demand for -four
INT this the miliers will hardly be able to suppl
\ except at very high figures unless the holder o
wheat is willing 20 change his ideas as 10 values