The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-14
SHARP WHEAT ADVANCE
REPORTS OF DAMAGE TO WINTER
WHEAT THE BULLIsH FACTORS.
Northwest and Southwest Both Good
the Main Factor i'm Corn.

CHICAGO. April 13.-Pessmistic reports on
the condition of the winter crop caused sharp
advances in wheat to-day. Compared with yes
terday's close. final figures to-day showed net
gain Of lac tor the July delivery. Corn is up
PC. oats SsaAc higher; provisions Zoe to
l5c up.
Extremely light receipts here and in the
Northwest caused firm tone in wheat at the
opening. the July option being a shade to Ad9sc
higher at s5ssc to sac. There was an active
demand from the start. covering by shorts being
noticeable feature during the first hour of trad
ing Numerous crop damage reports from all
sections OF the country were received. Indiana
particularly sent in a great many messages re-
garding ruined wheat fields. The Southwest also
continued to keep the trade informed of the
poor prospects in that quarter. AS the session
advanced reports of the Northwest became
An urgent investment demand developed. The
long interests had apparently been quite thor
more the domestic news was of such a bullish
tenor
LITTLE WHEAT FOR SALE.
Comparatively little wheat for sale
cept on decided advances. Both the Northwest
and Southwest were good buyers here. contribut-
ing materially to the strength of the situation.
All outside markets strong. and this also
\ feature in trading was an announced in
terest in the September delivery. that option
III
Iouenea $3.50, prices mace some recession on
p pI taking but the market held strong, July
closing at ST4GS7ssc. May sold between 923sc
and s4c and closed 934sc
Clearances of wheat and flour were equal to
pared with 10000 bu year ago Minneapolis.
Duluth and Chicago reported receipts of II cars.
against al cars last week and 13s cars year
CORN FOLLOWS WHEAT
Strength in wheat the main influence in
the corn market. Owing to clear weather.
rather easy tone Prevailed at the start. but when
wheat prices began to rise a better feeling
manifested. Local receipts small, and that
also contributed to the improved tone. Commits
sion houses We're early sellers. offerings being
taken by tie principal long. Later in the day
the big bull turned seller. but the market
held firm by good demand from sealpers. The
close was near the high point
After opening shade lower to &c higher at
4s5sa4s%ic to Soc July sold between 1880 and
sac and closed at 50l2c. May ranged between
51l5c and Sc and closed at the top. Local
ceipts were 100 cars. with 30 of contract grade.
WHEAT AND CORN AFFECT OATS.
Oats were affected by the strength in wheat
and corn. the market ruling strong after
easier opening. An improvement in the cash
demand bull factor and small receipts
also helped in the upturn There was some good
buying at times by an influential trader. while
the selling was scattered. The market closed
opened lsG4c lower to a shade higher at $3.50
TO &c, sold between 3J&c and 37%4c and closed
at 3fSsc. Local receipts were II
PROVISIONS STRONG.
Provisions were strong in sympathy with
grains and lighter receipts of hogs with
higher prices at the yards Foreigners were
credited with buying lard, and packing houses
did not hold owing to liquidation by pit traders
but the market closed firm. with July pork up
12l1c. closing at $6.715G6.S0. Ribs closed Toe
higher than last night s6.6