The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-03-31
CORN MAKES GOOD GAIN
ARMOUR BUYING CONTINUES THE
PRINCIPAL FACTOR IN CORN
Favorable weather Conditions Coun-
terbaIance Strength of Cash Arti-
Gle i'm the Wheat Market.

CHICAGO March 30.-Corn was the real fea-
ture of the grain markets to-day. 1t closed at
a net gain of 1hqlAc oats are up &C. Pro-
visions off 2Izc to sc. Wheat left off prac-
tically unchanged.
The sentiment in the corn pit extremely
bullish. due largely to the attitude of the Armour
house The big long active buyer Of
both May and July during the entire day. and
owing to such influential support the majority
Of traders loath TO take the selling side.
Small receipts and unfavorable weather for
the movement were additional factors in creating
strong Prices advanced gradually
through the day. closing figures being at nearly
the high point
July opened a shade TO isaAc higher at Size
to SIC, and after selling between 5l7sc and $50
53lsc. closed SIC. May closed at 55$4 a557sc.
after ranging between 547sc and soc. Local re-
ceipts were % cars
Lower prices at Liverpool and rain throughout
the greater portion of the Southwest caused an
easy tone in wheat at the opening July being a
shade TO Aa?sc lower at S1lsaSI&sc The pit
crowd was quite generally bearish on the favor
able crop news from the winter wheat belt. In
consequence there was little demand at the start.
= Tee market became still weaker on liberal Of
ferings from commission houses. July declining
10 So>4c before any support was encountered
STRENGTH IN CORN AFFECTS WHEAT.
Strength in began to be felt in the
wheat pit. however, the market gradually be-
coming frmer. Prices advanced rapidly
when a circulated that leading long
was buying heavily of old July wheat. pur-
chases of 900 bushels being credited to this
operator. UndS the influence of the buying
ascribed 10 HIM there a scramble among
early sellers to repurchase wheat:
The demand was increased by the bullish cash
situation here well in the Northwest and
Southwest. Sales of cash wheat were made here
at advanced prices. and the cash demand every
OF 100000 bushels to Texas mllers at &c over
export price was reported from Galveston.
An Offset to the strength in the cash market
AS the session drew near the close the numerous
bearish reports from that section brought out
july declining from u ssRe to s7@c The close
was about steady. with July at S7k4S73sc. May
Clearances of wheat and flour equal to
$500 bu. Primary receipts 334. 900 bu.
against 1853 900 blu year ago. Minneapolis Du-
luth and Chicago reported receipts of ga cars.
against 277 cars last week and 2lO cars a year
ago.
OATS RULE STRONG.
Under the leadership of corn. and in sympathy
with higher prices in the cash market. oats ruled
strong. Shorts and commission houses were ac-
tive buyers. but offerings were comparatively
light coming largely from scalpers The close
was strong and practically at the top.
at SSizc to SS3sc and after selling between SSisc
and 39Ssc, closed at 39A q39Sc. Local receipts
were 90
PROVISIONS CLOSE STEADY.
A heavy run of hogs, with lower prices at the
yards, led to considerable liquidation in provi-
sions during the early part of the session. The
selling met with little response from buyers,
and in consequence all products showed losses.
Later the market became firmer under the in
loss being regained. The close steady with
July pork 2I9c lower $13 22i5. July lard closed
at a loss of 2l4c at $40, while ribs were down
The Board of Trade will be closed Good Friday.