The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-31

The governing factor in the local grain mar
ket the past week has been the weather. The
weather affected the market by cutting down
receipts OF corn 20 1885, 80 bushels according
to the Board Of Trades weekly inspection
statement given out yesterday from l'',7d
have been unable to get corn in here prompt
~, and this has helped 10 keep the receipts
tion made worse than at any time during
the movement Of the present crop the past
week By the heavy SHOWS and the severe cold
THE movement of corn to this point would
be great deal larger right If the roads
could handle the stuff already loaded and
ready TO ship" yesterday said Joseph Gehring.
Indianapolis manager of the Cleveland Grain
Company who has spent the week travelling
through the territory tributary TO this mar
ket We have got several hundred cars of
corn on the road loaded at our different sta
lions and scattered along the roads far
west as Champaign but the companies can
move out very little Of 1t. Everybody else Is
fixed the same way, and If all the stuff en-
route would be delivered next week. for in
increase. AS long the weather stays cold
the corn laying along. the road will keep in
good condition. but il it should turn warm
much Of this corn would be badly damaged
: = =
The break in the May delivery down to s7A
cents. the lowest point since the possibility
Of between Japan and Russia began to
terest got into actual control of the market,
and Of the July delivery down to SOh cents.
and the development of a fairly large trade
in the middle-of-the-summe option delivery.
the features the option wheat market
the past week. The liquidation by Armour of
other long holders. including one line Of pos
sibly 5000 90 bushels, which began the latter
part Of this week. and Tuesday the bot
tom hgures on this movement were recorded
noted prices. Armour must have sold a good
deal OF wheat on the decline. but he had to
to support the market: one day he took as
much as 100000 bushels. SO it is hard 10
changed the size Of it's line this
week. Wednesday the market changed
movement continued Thursday and Fri
day. when the high prices since the break We're
recorded. Friday the May left off at 9Ostc, after
being considerably higher than that figure.
and the July finished the day at S3Ac. Yes
| left of at 90lsc in the May and at S2Isc i'm
the July This is exactly where the middle
! lost nothing by the weeks liquidation. The
! May closed the week at loss of &c from
| been relatively the stronger option this week,
on account OF more general buying of it than
who closed out their long lines of May during
the decline Monday and Tuesday and the latter
1 part of last week, bought the July the last
| part Of the week on the ground that this de
livery will go into the summer with the ad-
1 er this is very good reasoning 1T is hard to
say now. One factor which played such a large
! part in wheat the several weeks previous to
4 this one. the operations by the short interest
did not seem to have very extensive part
/ in the market the past week. After being
whipped and sawed back and forth by the war
! scare and the Armour operations for weeks
| the shorts had good chance to get out OF
| the May on the break. either at about an
| even break or at small profit, and most OF
| the short interest is thought to have been
| closed out.
| Contrary to the predictions, based on the de-
| creased receipts of corn, the local stocks in
| store show an increase of 3.1OO bushels for the
| week. compared with an increase of little
| more than 17,000 bushels last week The wheat
| stocks showed decrease of 20,502 bushels for
| the week. against decrease of q, 200 bushels
\ last week.
The output Of flour by the local mills thu
past week 1857 barrels against 6 40
barrels last week. The increased output is mo-
| due to increasing foreign business but /.
due probably to the fact that Of the Iarg,
! mills which shut down all last week op
Grated this week, and also 10 a slightly in
! creased demand from local sources.
The following figures. given out by the Boart
| of Trade yesterday. show the weeks grair
inspection, the stocks in store and the hou
output, compared with previous weeks