The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-20
Big BULL DAY in WHEAT
TRADING LARGER THAN FOR SOME
TIME-COyERING By SHORTS.
Further Reports of Russian-Jnpnnese
Trouble Started the Advance
Corn and Oats Strong.

CHICAGO. Dec. 1s.-The possibility of be-
tween Russia and Japan paramount to-day
in affecting prices OF wheat. On active general
demand May closed with a gain of 1Ac. Other
grains were helped by the strength in wheat May
corn closing &c to sc higher. while oats were
up nc to &c. Provisions were strong closing
sc to 17Isc higher
Trading in wheat very large scale,
and the market showed greater activity than for
a long time. Local holders appeared to have the
utmost confidence In the situation. Although
the market advanced TO the top price the
present crop. little disposition manifested to
take profits. The extremely liberal export bust
ness OF the past two days and the continued
small receipts caused good demand at the
start. Opening prices WIRE firm, May being a
shade TO hdAc higher. at s2Aqs2%c. Shorts
were the best buyers during the opening hour
although there some buying for investment
Offerings were very meager. and prices advanced
with the session. Reports of war between Japan
and Russia were abundant, and toward the end
OF the first hour the demand had become general.
shorts became alarmed at the attitude of the pit
crowd, and In renewing efforts TO cover added
greatly to the strength in the market. While
there was some liquidation on the advance, the
ehect was slight. and closing prices were about
the best OF the day: After selling at sshqSsssc
Clearances of wheat and flour equal to
i2s 500 bu Primary receipts were $500 bu,
luth and Chicago reported receipts of 1913 cars.
against Oh cars last week and 5lS cars year
ago.
Corn prices were carried up by the strength In
wheat and because of the wet weather prevailing
all over the central West. While receipts We're
larger to-day than they have been for several
weeks, indications pointed TO a big reduction in
the movement on account of poor roads. Com
mission houses were the best buyers. The selling
was scattered. After opening shade to 1sc
higher, at 437sq437sc to 437sc. May sold between
43<c and Alsc, closing at 44g441sc. Local re-
ceipts were 800 with three of contract grade
Oats were strong. along with other grains.
There was fair general trade and some evidence
of further accumulation by the prominent long
interests. The demand from this source, In con-
junction with buying by local traders. started
shorts cover. With small offerings prices
showed good advances. Receipts continued
small. and good shipping demand was reported.
May opened a shade to lsdHc higher. at S7a37hc.
ranged between sc and 31Nc closing It 371zc.
Local receipts were 109 cars.
Provisions were firm, with considerable outside
buying still in evidence The bullish sentiment
encouraged by the action of grains The
advance met with some selling by English houses
and also by local packers, but prices held up
well. The close was strong. with May pork up
15c to 17izc. at S11 $50 971z. May lard was DC
to The higher at s6.6212q6.65, and ribs were TIC
better. at s6.35.
Estimated receipts for tomorrow: Wheat, SO
corn. 800 cars: oats, 230 cars; hogs, $4,000
THE LEADING FUTURES RANGED AS
EOII OIVS.