The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-03-23
CORN PRICES BREAK;
WHEAT HOLDS STEADY
CROP DAMAGE IN KENTUCKY WAS
BULLIsH FACTOR IN WHEAT.
This strength Was Offset by the
Weakness i'm the Corn Market
Oats Prices Close Lower.

CHICAGO. March 2s-weakness Of coarse
grains Offset to-day in the wheat Dit the effect
OF crop damage officially reported from Ken
lucky Wheat closed practically at yesterdays
final fgues- Corn is OF 7salc- Oats are down
1c. Provisions closed sc lower TO sc higher.
Marked inclination 10 buy wheat was mani
lower to i<a@sc higher, at Sc 10 sic. May
From the start the volume OF commission house
buying was larger than for some time past.
Possibly the most important influence respon-
sble for the increased interest was the Issuance
50 rer cent deterioration in the eonSitlen of TIE
growing wheat plant. as compared with The
Presumably on the basis of this report q
rumor was started that the next government
that the Southern markets had small receipts
today while making big shpments-St. Louis
in the aggregate and shipping 3l2 600 bushels
market.
COLD WEATHER BULL FACTOR
Cold weather was predicted. and this too had
a stimulating influence purchasers de-
of 600. 900 bushels in the worlds available
stocks as shown by Bradstreet's. was another
bull factor.
While prices in the wheat pit were advancing
grains were experiencing a heavy SELL
decline NV
Late in the session the weakness in corn ana
oats brought out number of realizing sales
in wheat and caused loss OF about a cent from
the high point in July. The top figures Of the
steady at s6IsassI4c May sold between sis.o
and 92Nc. closing with gain OF &c. at s2i.c
25S. zoo bushels. Primary receipts were $500
bushels. compared with 1886 500 bushels a wear
ago. Minneapolis. Duluth and Chicago reported
receipts of 32e cars. against <is cars last week
and ls2 year ago.
HEAvS LIQUIDATION IN CORN.
For the first half hour the corn markets ruled
firm. influenced by the steady tone OF cables
and by unfavorable weather There was u,
tie, tie demand nowever and when some Of the
purchasers. which resulted in gradually weak
ening OF values.
on contract at discount. be voted to-mor-
row. probably the OF the lack OF de-
mand The sentiment became decidedly weak
late in the session on general liquidation
The close was near the low point. May being
off %q%e, at 52as2Sc July opened shade
tween exc and 5Ossc. and closed at 4sxc Local
receipts We're PSI cars. with IL of contract
grade.
OATS FOLLOW CORN.
Oats showed inclination TO follow corn
than wheat. There was frmness early. in SYM
patty with wheat: but when weakness developed
of oats snd pces he decined rand selling
Larger receipts with more of contract grade
were an important factor. The close was an
opened nc higher. at SS5sc. sold between GAG
and $3.50, and closed at 37s4c Local receipts
were 1913 cars.
PROVISIONS CLOSE STEADY.
Provisions Were strong early in the day. under
the influence of small hog receipts and higher
prices at the yards. There was a good general
trade with active demand for lard and ribs
On the break in corn there was free selling
| by pit traders and packers. which resulted in a
| loss OF most of the early gain The close was
lard closed sc higher, at s6971z, while ribs
were up 2izc at $3.50
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