The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-30
WAR NEWS RULES WHEAT
LIQUIDATION CAUSED REACTION TO-
WARD THE CLOSE.
Small Receipts md an Improved Cash
Demand Other Bull Factors i'm
Uhcat-PrOvisiOns strong.

CHICAGO Jan. s9-War rumors caused an
advance of sc to 1ssc IN the price Of wheat to-
day Part of the advance was lost on proh'-
taking. but the close was firm. with May sc to
7sc higher than yesterdays final figures Corn
closed with a gain Of sc to nc for May. Oats
up sc. Provisions are unchanged
sharp bulge occurred in wheat at the open
ing. due to reports that the crisis in the Tar
East was not far distant These reports were
given emphasis by higher prices in foreign grain
markets Opening quotations here showed May
sc TO lssc higher. at soi9QslAc. with July le to
lBc higher. OF S27t GSSc.
Buying orders came largely from shorts For
a time there was little wheat on the market
The leader Of the longs however, took the SELL
ing side toward the end of the first half hour.
and was Joined by smaller holders, with the re-
suit that prices declined about isc from the high
point May steadied around sOssc. and July at
S27sc.
DULL THE REMAINDER OF THE DAY.
The market lost its energy and ruled compare
lively dull the remainder Of the day. Long wheat
continued to come out on all small upturns. but
the demand equally good on every reaction
The market was helped by Argentine strike news
small receipts and Improvement in cash de-
mand in the Northwest. May closed at sO7sg
eOs.c. after it had sold down to so3.c. July fin
Clearances Of wheat and -four were equal to
COZ. 1OO bu. Primary receipts were $500 bu,
%eek aSeoT al S' to Of wheat and
-four were equal to 2.s0S,0 900 bu. Minneapolis
Duluth and Chicago reported receipts OF zoS cars,
against 366 cars last week and 3O3 cars year
WAR NEWS AFFECTS CORN.
The same influence which governed the wheat
market was factor In pit There
was good demand from commission houses and
shorts at the start due to the reported serious
of affairs circles. and opening prices
showed fair gains. on the advance tnere was
quite liberal liquidation by small holders. re-
A renewed demand from commission houses
late In the day caused another upturn ana the
at 50bsc to 59ssc May sold between soc and 5o5zc,
closing at 50.Q5O1sc. Local receipts were IL
cars, none of contract grade.
OATS FIRM.
Oats were strong throughout the entire day
Trading was not large, but this was due more
to the scarcity of offerings than anything else
| There was a fair demand from shorts early
| stimulated by the same bulish feeling over tn,
| foreign situation prevailed in other pits
| Scalpers were the principal sellers.
Toward the end OF the session general de
| mand developed, which carried prices still high
| err. and closing figures were at the top. Ma,
opened 4q%c higher at $3.50 to 421sc. sold be
tween i2hQ42Ac and 4Sc, closing at 4Sc. Loca
receipts were "a cars.
PROVISIONS STRONG.
/ Packers were moderate sellers OF provisions
and there was further liquidation of lard b,
bull houses. In spite Of this selling, in the fac
of lower prices at the yards. the market yielde
very little. closing practically at yesterday
| SUPPORTING feature MAY pork and lard close
| unchanged Ribs shade lower at s6.7
| Estimated receipts tomorrow: Wheat, is cars
| corn, 260 cars; oats, IS cars; hogs, $1,000 head.
F,s,,r fol1o