The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-19
GOOD BUYING OF WHEAT
EXPORT SALES AND WAR REPORT
FROM EAST BULLIsH FACTORS.
Weather Reports Also Helped Market
Advances-May Closed 3-4c Higher
Firm Tone TO Considerations.

CHICAGO Dec. 1s.-Disqueting reports OF an
imminent clash between Russia and japan. to-
gether with heavy export sales. caused active
buying OF wheat here to-day. AS result the
market ruled strong May closing &C higher.
May corn up l4c oats &c higher. while
provisions closed steady
There unusual interest I'm the wheat pit
and a very strong market. number OF factors
entered into the situation Of a nature 10 create
anxiety in the minds of shorts. and the buying
from this ource Of good volume. A
marked reduction in the number OF cars received
at Minneapolis and Duluth. steady cables and
unfavorable weather conditions in Argentina
were early influences that tended TO create q
bullish sentiment among traders. The opening
on May was shade TO bGbsc higher. at slsc TO
sllkGSlssc. and from the time the first sale was
made until the final tap Of the bell prices showed
constant tendency TO advance. A cablegrsm
from Argentina TO a local firm stated that there
had been frosts in the South. and that the dam
age to wheat was estimated at Is per cent. A
little later in the session a circulated
on the floor that japan had declared war
Russia. Though this report denied there
a big decline in consols and japanese
tiles in London, which was en- added incentive
to the crowd. and the buying became general
Advices from the Southwest 10 the effect that
many complaints were coming in OF insufficient
southwestern and southeastern sections of
winter wheat belt We're taken as indications or
possible shortage next year In addition TO
these influences the export business OF the sea-
board contributed further strength late In the
day, ~ loads being reported taken for export.
Closing prices were close to the top, May being
CiearanceS OF wheat and -four equal TO
5H600 bu. Primary receipts were Gao 800 bu.
%hea and hour for e the weeE S reposd Sg
Bradstreets, 3. sos. 900 bu. Minnea polls Du-
luth and Chicago reported receipts OF 326 cars,
against 4ss cars last week and ass cars a year
Corn had firm undertone. but the volume Of
trading was small There seemed 10 be a little
tions OF stormy weather. Poor roads would
barrass the country movement, which has picked
up some OF late. Late IN the day the market
was influenced by the heavy export sales, Is
was some selling throughout the day by small
holders, but the majority of traders in
ciined to favor the bull side After Opening un,
changed TO &c higher at 4311@4Sssc. May sold
between 43izc and 43AQ435sc. closing at <34c-
Local receipts were los cars with one OF con-
tract grade.
shorts were the best buyers OF oats and the
selling was largely by scalpers. The strength in
wheat the principal influence that brought
out the demand although small receipts and
good shipping business helped 10 support the
market May opened shade lower to shade
higher, at 36% H365sc ranged between 36&c and
36xG3Ic, closing at S65sgS1c. Local receipts were
"a cars.
The provision market was governed almost ex-
exclusively by the situation the yards Lib
eral receipts and decline OF lOc were early fac
tors that caused some selling by packers. Later
and provisions gained part of the early loss
The close steady, with May pork a shade
higher at Sl.s May lard was unchanged. at
s6.57I. and ribs shade lower. at ss7sz.
Estimated receipts for tomorrow: Wheat a
cars: corn. so5 cars; oats. 80 hogs. &c. O00
THE LEADING FUTURES RANGED AS