The Indianapolis journal., 1904-05-05
NEUTRALITY-SUSPICIOUS.
STRENGTH CAUSED BY CONFLICTING
REPORTS FROM SOUTHWEST.
Corn Was Somewhat weak Early, hut
Turned Strong Later and Closed mt
Advance of 1-fc-Oats Higher.

CHICAGO, May 4.-Conficting reports re-
garding the condition Of wheat fields in the
Southwest caused a firm close in wheat to-
day. Final figures on July were a shade
higher than yesterdays Corn is UP Ac
Oats show gain of 2s@1kc and provisions
7lzc to l0c.
With an inclination TO weakness, the
wheat market opened at a slight decline.
July being down lsc to Ac at size to Si2sc
Fine weather everywhere and the fact that
spring seeding was progressing rapidly
were the principal contributors to the bear
ish sentiment. \ rumor that crop reports
of Michigan, Missouri and Ohio would show
moderate Improvement in conditions of
growing wheat increased the selling pres
sure.
Talk of possible general tie-up of lake
navigation also had some bearsh influence.
The selling quite general for time
and in consequence prices continued to de-
cline, July going down TO Silsc. But senti-
ment gradually underwent a change. One
of the principal traders seemed to be more
inclined to buy wheat. and the action of
this operator was the signal for an in
creased demand on the part of pit traders
REPORTS CONTRADICTORY.
Reports from the Southwest as to the
condition of winter wheat were decidedly
INlS gave lTeSI
encouragement to the bulls and brought out
additional buying orders. The market be-
came active and strong With only light
offerings the price of July advanced to S5c.
During the last half-hour there was consid-
erable profit-taking which carried prices
back about half cent The market closed
nrm, With July AT Si12dSi9sc.
Clearances of wheat and flour were equal
to 125, 800 bushels. Primary receipts were
20i.4OO bushels, compared with Zll,lW BUSH
NA1t nlrrth nd
Chicago reported receipts of 9S cars, COM
pared with "A cars last week and 119 cars
year ago.
CORN MAKES SMALL ADVANCE.
After exhibiting some weakness early in
the day as a result of decline in wheat,
the corn market displayed considerable
strength the remainder of the session.
Shorts bought freely and there was also
influential buying credited TO a big pro-
vision interest A decided decrease In re-
ceipts, with smaller percentage of con-
tract grain was a bull factor. An i'm
proved export demand also stimulated
buying. Late in the day the market lost
the close was firm. July opened shade
TO &c lower, at 475sG4Is4c TO 4I1sc. sold be-
tween 47Ss@4724c and 4S1.c. closing at $3.50
iSAc Local receipts were lO3 cars, with
only nine of contract grade.
OATS INDEPENDENTLY STRONG.
were influences that created independent
strength in oats There was an easier tone
at the opening in sympathy with wheat
and corn, but small decline the de-
maud became of such a general character
as to cause decided strength. Pit traders
bought July and September, while shorts
covered sales of May. The market closed
strong. After opening unchanged to a
shade lower at 3sssG3Siac, to 3S1ac, July sold
between 3S3sc and 39hc, and closed at 1875
TO 37lac July sold between 3Sssc and 39Ac.
and closed at 3S7sQ39c. Local receipts were
% cars.
PROVISIONS HIGHER.
Buying of shorts and packers caused a
firm tone in provisions. The market was
helped by the more bullish hog situation
and by light offerings. July pork closed
with a gain of 10c, at Sl1S2l2 Lard and
ribs were each up 715c. at $50 and So47l2q
$50, respectively.