The Indianapolis journal., 1903-12-15
GRAIN MARKET STRONGER
SMALL RECEIPTS AND WEATHER
LEADING BULLISH FACTORS.
The May Option Closed 1-2c Higher
Corn Strong I'm Sympathy with
Wheat and on Small Receipts.

CHICAGO. Dec. 14.-A reduction In worlds
shipments. compared with general expectations
small receipts and reports of rain in Argentina.
caused net advance in wheat to-day. although
the market quite unsettled. Closing prices
were strong, with May izc higher. May corn
closed itc higher. oats were shade lower. Pro-
visions showed a slight decline
Wheat exhibited rapid changes in values. From
a strong start the market suddenly developed
weakness only to again become strong. The
opening was strong on its falling of in the
worlds shipments and higher prices at Liver
rool. Small receipts in the Northwest-about
half what they were year ago-also contrib
uted to the bulgish sentiment. May opened k8
sc to %@hc higher at sl5c to SlAc. Ccmmis-
sion houses had liberal offerings and these was
liquidation. While there was a good gen.
eral demand at the start, the selling became so
urgent that the market was unable TO withstand
the pressure and prices declined. May selling
fears of damage to the winter wheat crop by the
cold wave brought out good commission house
demand later 81 IN the day ,,, 49,. ,,,u
was also factor In the latter part OF the ses-
sion: Offerings. too. were much lighter than
earlier In the day. After an advance to S2QS2sc
May closed at si%@sI&c. a gain OF Nc. Clear
anccs Of wheat and flour were equal to 262 go bu
on eeses to S
Duluth and Chicago reported receipts of 655 cars.
against 1,166 cars last week and l.257 cars year
Corn opened strong in sympathy with wheat
and on continued small receipts. There were free
offerings from local Spectators on the advance,
the opinion among sellers being that the cold
weather would improve the condition Of the
grain and also increase receipts AS a result OF
this selling the market became easier. Late
buying the strength in wheat caused a rally
and closing prices were firm. May opened a
shade to hQhc higher at 43zc TO 4Sssc and after
yelling between 43c and 43sq43lac. closed at
43Ad43ac. Local receipts 2sS cars. with
one of contract grade.
Oats were steady at the opening in sympathy
with the strength in other grains. But as the
session advanced an easier tone developed and
closing prices showed slight losses. Influential
houses were heavy sellers during the day and
the demand only Hight and from scattered
sources, After opening shade to hQkc higher
at 37Q371sc, Nay ranged between 36ssq36Ac and
27lsc and closed at 36Ac. Local receipts were
2c9 cars.
Provisions were steady early in the day. infiu-
enced by the strong hog market, but prices re-
ceved a setback under selling of lard by sew
eral commission houses for foreign account.
There was also some evidence of packers selling
ribs. The late weakness in prices at the yards
was a bear factor during the latter part of the
session. May pork closed a shade lower at S11. so.
May lard was down 2l3Q5c at s662l2, ribs were
of 2kq5c at Sc. 30I6. 32h.
Estimated receipts for tomorrow. wheat, 1lo
ears: corn. 25: oats. log; hogs. So 900 head.
Leading futures ranged follows: