The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-30
Local Clearing,

Local receipts Of corn this week will not ex-
ceec 10000 bushels unless to-days receipts show
an enormous increase over the past five days.
Last weeks receipts amounted to a little more
than 1850 bushels. The receipts the past four
days amount to 81 cars, or between 5000 and So
900 bushels. Yesterdays receipts were 10 cars,
and it is not likely that the inspection to-day
will make a much better showing. Last
Monday the inspection showed 1O1 cars, but all
of this cannot be counted as Mondays receipts.
as it included the previous days arrivals. But
look as if the weeks Inspection will run much
more than 141,oO0 bushels
A w. ("sandy') Thomson.-There is little of
newness to report in Fridays wheat market.
Armour is said to be in control. The action of
the market would indicate 1t 1t certainly
ouires a good student of the pit 10 be able even
to make a scalp out of wheat these days. Corn
opened up strong. closing half cent higher than
Thursdays close. At no time yesterday did il
show weakness Should we set sharp break
In wheat corn will necessarily follow, 10 an
extent in sympathy. on any setback of half
to three quarters corn can be bought for quick
turn Provisions seem pegged for the present
waiting for a leader. good break would be
healthy for this market, and in the absence of
strong HANDS taking hold or the long side am
inclined to the opinion that a break is close
at hand Should this occur, recommend buying
II for lust as soon as receipts or hogs begin 10
decrease the product is bound TO advance For
the present receipts are equal 10 those or last
year, and the price for the product considerably
lower
The Armour interest is not so vigorous now in
its manipulation of the wheat market during
the early part of the week. Both the May and
July options made further gains yesterday and
closed at an advance over Thursdays final
prices The course of the market was not sensa-
tionaI like the advance last week. and the break
the first of this week. There seems TO be some
thing more in the advances and declines now
han the operations OF the Armour house But
this does not mean that Armour Ism In control
of the market any longer. He is simply doing
tbines "a little more quietly now. The May at
one time Yesterday touched yli4c. mat ngure
was the ton OF the opening range. The bottom
above Thursdays last price. The July opened
from S3s4c down 10 SIC nat, went to sac, back
10 S2Ssc and closed at the top opening.
The Price Current says: The growing wheat
condition is maintained. Generally small top
growth. Healthy root growth is believed in most
cases Wheat movement moderate. No material
betterment IN corn condition. Packing in West
for week go OOc hogs. against $4,000 last year.
Kansas City reports say: Minneapolis has
bouaht over 100000 bushels of wheat here within
a week. Wednesdays purchases were 10000
bushels There are about 1000 600 bushels OF
wheat now under contract to go from here TO
MINNEAPOLIS. Besides this the millers OF the
central West continue 10 buy freely nOtwith-
staaGing the utter absence Of export demand
Tor -four The wheat receipts here in February
n,obabIv will not be over half what they have
been this month. II begins TO look as II this
market that has so long dragged behind Chi
carc will show more strength from now on"
2
There has been turn IN the wheat statistics
from, bearlsh to somewhat bullish. The North
west cars are now each day less than last year.
and the total at primary points is now also les:
| each day than last year. The Southwest wheai
raceiots than but almost
| invariably 1t. Louis and Kansas city shif
more wheat than they receive. The new sitVa
| ZION makes the burden less the bull than il
Mas. Il takes efrort 10 support prices OF