The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-29
BIG BULL DAY In WHEAT
RUsSO-JAPAN WAR TALK AND AR
GENTINE NEWS CAUSE ADVANCE.
Corn and Oats and Provisions Also
strong. and Close mt Gains over
Last Weeks Final Prices.

CHICAGO. Dec. 2S-Continued reports OF in
creasing prospects Of war between japan and
Russia and delay in harvesting the Argentina
crop were the two prominent factors which
caused a very bulish wheat market to-day
and put the May option within &c Of IS cents.
The market closed firm. with May up sake.
May corn is ssas4c higher and oats sc up
Provisions gained 212c.
The wheat market opened strong and prices
continued advance a good demand from
commission houses local bulls and shorts.
Reasons for the advance were various. The
one most frequently mentioned at the start
was the possibility Of war between Russia and
Japan. Something Of more immediate infiu-
ence, however. a report from Argentina
that heavy rain was again prevailing in the
wheat districts and that harvesting was being
delayed.
Foreign markets showed gains as a result Of
these advices. and the higher prices abroad
We're largely responsible for the strength here.
After opening &c to nc higher at S37s ds4isc.
May advanced steadily s47sc, gain of
cent from the low point Liberal selling by
longs and some by shorts resulted in easier
tone. General selling in during the last
half hour on rumor that the big bull operator
was unloading and much OF the advance was
S4ssc
Ss4 goo bu. Primary receipts were 55;usz'OOO pu;
against 1,606, 600 bu a year ago. The amount
on passage decreased l,2l20N IL bu while the
visible supply increased 1slS.OOo blu; Mime
apolis Duluth and Chicago reported receipts
Of 1852 cars. against s67 cars last week and
937 year ago.
STRONG CORN MARKET
Corn firm at the opening. due to higher
cables and light receipts. The market increased
in strength throughout the session. with only
small offerings. Reports from the country drew
attention to the poor results Of husking and
the demand from feeders at higher prices than
could be obtained elsewhere. In spite of favor
able weather. local receipts were still small and
no Improvement in trading was apparent. Some
scapers were inclined to fight the advance and
sold early but offerings were readily taken
by commission houses and longs The demand
covered later in the day. adding to the strength.
The close was strong. with May at 45lsc, after
S SPsn Esitn @be to qe higher at 14@Ss
were 527 cars, with three OF contract grade.
BULLIsH DAY IN OATS.
Oats were firm. with local shorts doing con-
siderable covering and the long interests TAX
ing hand in forcing the advance. The strength
was moderate realizing on the up turn and part
of the advance lost. although the close was
strong. May opened &c TO 1saAc higher at
3l%sc TO SI4sQ3I1sc, and after ranging between
373s and 377sq3Sc. closed at 37%G37zc Local
receipts 464
PROVISIONS ADVANCE.
With hogs selling at lac advance and grains
all acting strong. shorts in provisions deemed
it wise to cover Their efforts in this direction
caused strong opening. There good buy
ing for investment account and prices were
well maintained despite important selling in the
way of profit-taking. The close was strong,
with May pork 12zc higher at sl255. May lard
was up 2isc at 1921, while ribs were &c higher
Estimated receipts tomorrow: Wheat. Is cars
corn, go cars; oats. 155 cars; hogs, $1,000.