The Indianapolis journal., 1904-02-03
LCifh the Grain Brokers;
Present Market Conditions

Corn vas more ectivc than wheat in the option
markets yesterday. The May delivery Of corn
went 20 a new high point on this movement
52c. The highest price on this movement previous
to yesterday was reached about two weeks ago
when the May was around 5lkc. The close was
at 5l7s split The July was not as strong as the
early 6elivery. getting at the high point for the
Gay only &c above Mondays close. Bartlett
Frazier & Co were buying a good deal OF corn
some tine is probably adding 20 its line again
since the high point two weeks ago this in
terest had sold quite extensively up 10 this week
Wheat was also a strong market yesterday
So far as the closing prices are concerned the
May left of at nearly the same advance at
which May corn closed the Cay. The May wheat
left of at s15sc split against 9OE.c. the previous
DAY mai prize. The July delivery was not
Of the Russo-Japanese situation and short COW
ering We're responsible for the advance in wheat
A. W. ("Sandy') Thomson-Tuesday's wheat
market showed further advance over Monday.
There was not much in the news either way.
May option is congested and dangerous to play
with 1 look for good scalplng market and ad-
wise operating In July and September for the
present at least Corn continues to gain ground
each day. The local crowd in Chicago is less
bearish and shorts are inclined to cover Should
May corn break back TO soc I think II a safe
purchase should # advance IklIa.c over Tues
day believe il can be sold for a scalp Provisions
are back to closing price Of Friday. having re-
The strength is occasioned no doubt by the
strength in grain. A sharp break in grain
tsS. would mean a sharp decline in provisions. when
believe they can be sold for profit.
Bartlett. Frazier & Co. wire Meyer & Kiser
as follows concerning the movement: I'VE
bought at all country stations during the
months of December and January $4,000 bushels
Of corn, compared with 73S 900 bushels the same
period last year. In other words the move
ment this season is s. per cent. greater on a croD
OF los.oOO,9O0 bushels less Furthermore, the
country elevators last year well filed.
Now very few Of them are. The movement in
Nebraska IS falling OFF,. and the demand from
ieedefs IN Iowa Is good"
Bert A. Boyd has the following from Hull
burd. Warren q Co. Chicago: The purchase
OF corn future by a country dealer against his
country cash purchaser to-day is simply taking
on two speculations instead of one. The fact
is, corn buyers are getting scarcer here every
DAY, and those who are buying it are getting
III more anu more indifferent Their customers in
the East fully realize the poor quality Of the
corn Eastern cars are so scarce here that trans
SHOWS and cold weather make it's progress To
destination, after getting started exceedingly
condition Will be improved very slowly. and IL
seems TO US that under this state of affairs the
from the farmer faster than he can ship il out
Is putting himself in way 10 suffer serious
losses later on"
The provision people believe the big line of
lard which is held through private wire con-
Germs with the cotton traders on their lines. is
eontipuully being added TO. The pit assumes
one line of 10000 tierces Of lard is held through
one concern. The market has not advanced any
Tor week the outside buying just about being
offset By the liberal hog receipts and by the
rather more aggressive selling by the manufac-