The Indianapolis journal., 1904-01-14
BROKERS VIEWS ON THE
WHEAT AND CORN MARKETS
Wheat Was Dull Yesterday and
Lower Early Lack of War News
SuppOrt-Closed Steady.
Meyer & Kiser.l


CHICAGO. Jan. 13.-The professional crowd in
the wheat pit were treated TO the same milking
process common OF late dull days. They
sold their wheat and went short on less war
like news lower cables and heavy receipts. The
long interest took their wheat and the market
reacted, closing firm at about last night S
figures. Liverpool cables opened lower, closing
at a loss. Consols opened 1-16 higher and the
feeling abroad seemed TO be inclined TO the be-
lief that would be avoided. The heavy
Southwestern receipts brought selling orders
from st. Louis. The official precipitation re-
corded shows sensational deficiency in mois-
ture in California and the Pacific coast dur
ing the months of November and December The
map to-day showed no moisture cover
ing in the Southwest. There were heavy SHOWS
through the Ohio valley and a trace in Nebra ska
Iowa and Missouri Minneapolis reports the de-
mand for good wheat excellent, but poor for the
low qualities Thirteen loads were reported
taken for export. Estimated receipts to-mor-
row. twenty -flve cars.
Independent of the early weakness in wheat
The light country offerings and the poor quality
OF local arrivals were the features most talked
of. Our Peoria house bought nothing on last
nights bids. The cash market strong and
ket closed higher and very frm on account of
the light stocks. The poor quality of the pres
ent crop ana the quality or the good grades
will tell on the May price this spring.
IPorterfield & Col
CHICAGO. Jan. 13.-The crowd is bearish on
wheat and there has been a demonstration to-
day against present prices. st. Louis houses
have been pretty heavy sellers This was done
presumably on heavy Southwestern receipts.
The leading bull interest has not been con-
spicuous-a moderate buyer early. There has
not been much corn for sale to-day except from
scalpers. Bartlett, Frazier * Co. were the best
buyers.
IA. r. Thompson & Col
CHICAGO. Jan. 13.-Wheat-Consols were higher
and the news was less emphatic The local
mood has been decidedly bearish but the market
has had persistent support for May on the breaks.
The fluctuations have been narrow. between ssIkc
and size The crowd kept on the selling side
until IL exhausted itself and then rallies fol-
lowed. This has been the days story. Gables
were lower from Liverpool and London Argen-
tine news was Of both sorts. one cable reporting
considerable damage and another reporting dam
age light Cables reported the Danube closed
The market is only made ineligible by remem-
bering there is a great MAY line I'm existence
which is steadily held. The seaboard reported
fifteen loads for export.
Corn has been taken to-day bv the inferes,
which has been conspicuous on the buving siSs
for some time. Comstock cleaned up tho Julv
The crowd. which has been incredulous of ann
advance was little more disposed 10 cover -.
day The market advanced &c but would hav.
done better but for the dulness. Cash corn w.
&c nc higher. Offerings were light There
has been some improvement in the demand ca
bles were unchanged. Light country Offering,
the feature OF the cash situation.