The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-05-26
WHEAT GOES 3.8C LOWER
PERFECT WEATHER AND LOWER
CABLE THE BEAR FACTORS.
May Option Jumped from Csc to Csc,
Corn lie Higher-Oats 3-Sc Up.

CHICAGO. May 25-Perfect weather and
lower cables caused a weak undertone in
wheat here to-day. At the finish July
wheat was down sc TO 1zc from yesterdays
final wheat quotations. Corn is up 1sGAc;
oats show gain of CSC, and provisions SC
TO 15c.
From the start growing weather in Amer
lea and weakness in foreign markets had a
depressing influence on wheat the July
option opening shade TO Adssc lower, at
s61sc to s6ssc. During the first half hour a
little frmer sentiment was manifested. the
tone of the market being strengthened by a
reported settlement of the grain shovelers'
| strike at Buffalo.
Small primary receipts in the Southwest
also tended to encourage bull traders. The
demand, however. was not sufficient to
cause any considerable advance. the high
point on July being reached at s67sc. Num-
erous bearish crop reports were received
/ from the Southwest, and, being accom-
panied by selling orders from st. Louis
houses. the result was a gradually weaken
/ ing of values.
feature of trading was the wide fuc-
tuations of the May delivery, the price of
that option suddenly jumping from CSC to
yoc' anu lnen as quickly reactng TO 9412c.
/ lnlsmuch as the short interest in that
! month IS apparently inconsequential in
| amount, no particular significance was at
| tached TO this sharp advance and subse-
| quent decline.
Transactions in all deliveries were so
| light that the market was easily affected
either way. After selling down TO s524c.
94l2c and CSC, closing at CSC
Clearances OF wheat and flour were equal
TO l4l,lW bu. Primary receipts were 1876,
hfr cr.a
Minneapolis. Duluth and Chicago reported
receipts OF l29 cars, against 81 cars last
week and 136 cars a year ago.
On a fair demand from a large provision
| interest firm tone prevailed in corn.
There was some purchasing on a forecast
of frost for Kansas. The belief that the
| lake tie-up is near an end caused consider
able covering by shorts. Country offerings
| of cash corn were. of moderate proportions
but IL was necessary to pay higher prices
to secure them. The market closed near
| the high point of the day. July opened
| Sc to 1sdAc lower. at 4719c to 471aG47ssc
sold up to 4Sc and closed at 477sc. Local re-
ceipts were 200 cars. with % of contract
| grade.
In sympathy with other grains, oats
showed an easier tendency early in the
session. but a fair demand from shorts
! soon caused firm undertone. The posi-
bic early settlement of the lake strike. il
| accomplished. will release about 100000 bu
of oats now held for buyers at lake ports
had Strengthening influence. After open
ing lsc lower, at 379sc. July advanced tc
3slsc and closed at the top. Local receipts
We're 1O1 cars.
"A large run of hogs, with lower prices al
the yards caused some weakness in pro-
visions at the start. but enormous ship
melts OF meats brought out a good deman nc
from shorts and a strong tone resulted. 4
feature Of early trading was buying Of
July lard by a big packer. The market
closed at about the high point. with jelly
pork Up l5c at s11.15. July lard was up 5,
at s6.3I19. Ribs were 712c higher at s6.47Ia
Estimated receipts tomorrow are: Wheat
cars: corn, 302; oats, 126: hogs, 1000 head
The Board of Trade will be closed Mon
day. May 80.