The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-03-26
STORM PUTS GRAINS UP
WHEAT CLOSED 3-S TO 1-2C HIGHER
NORTHWEST NEWS BULLIsH.
Private Crop Report Claims Bad Out
look for Winter Wheat Crop-Corn
Left on 5-Sc Advanced.

CHICAGO. March 25.-Fear as TO the effects
of the widespread storms and floods caused
net advance of A9zc to-day in wheat. Corn
gained &c oats are up &c and provisions sc
to lOc
The opening in wheat was firm. in sympathy
with higher prices in foreign markets. July
unchanged TO &c higher at SIC to Si4e.
There urgent demand from the start,
the pit crowd being active buyers on prospects
of decided drop in temperature in the South
west Commission houses also had plenty OF
buying orders. Offerings. however. were light
AS the session advanced the market became
stronger. The situation in the Northwest was
an important bull factor, wheat market at
Minneapolis being decidedly strong, owing TO an
excellent cash demand. Notwithstanding the shut
down OF eighteen mills.
There was considerable buying here for North
west account. and the Southwest was also a fair
purchaser in this market: private crop report
OF winter wheat was far from good. me condi,
ton at the present time being worse than than tnat
Cured July advanced TO SS&sc.
on the bulge many of the early buyers turned
sellers. causing a decline OF nearly cen,. ne
closing tone however. was strong, with July
at s7asdS7lsc. After ranging between 94Ac and
Clearances of wheat and flour equal to
900 bu: Primary receipts we're Az 500 ou
and fioIr for the week according to Bradstreet's
were equal TO 500 bu. Minneapolis, Duutn
$40 cars last week and 233 cars a year ago
Minneapolis. Duluth and Chicago reported re-
ceipts of 346 against 349 cars last week ana
233 cars a year ago.
BIG INTEREST BUYS CORN.
The feature in corn was the buying Of about
one million bushels of May by a prominent oper-
ator who was recently long May wheat. The
buying from this source induced the pit crowd
TO follow, and il was not until late liz the ses-
sion that any general selling pressure developed
In the meantime the price of the May delivery
haG advanced nearly cents from the opening
al, ana nr inc 81 ENG more distant futures up
ward In sympathy. The sentiment was neipeu
somewhat by the bulsh advices from Illinois.
There was considerable profit taking late in
the day. which resulted In decline from he
May at SIC, after 1t ranged between 5S4sc and
SIC July opened a shade to b4Ac higher AT
1880 to 49%c. sold between 1850 and 5OAc and
closed at 50b95oAc. Local receipts were LII
cars, with ten of contract grade
FIRM TONE TO OATS.
The strength in wheat and corn was the prfn-
| cipal factor in maintaining a firm tone In oats.
| One or two bull interests were liberal buyers
during the early part of the session, but later
| in the day the demand became slack. =,
Scattered selling due 70 the iate neaG h IN bn
| close firm. July opened 1sc TO hQAc higher
! at 37%c to s7Ssq37%c, sold between yIssgS'Ac
| and 3S1.c and closed at 3f%Q3Itsc. Local re-
ceipts IA
PROVISIONS STRONG.
Provisions strong apparent support
| from packing interests. Strength In grains Off
| set lower prices at the yards. There was some
| realizing on an early advance. but the market
| closed firm July pork being up 7tsd1oc at s13. 30
| July lard sc higher at $I.l5 and ribs up %
| 715c at sI.O0. No estimated receipts given out
L