The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-01
GRAINS CLOSE UNCHANGED
RAIN IN WEST COUNTERBALANCED
CASH DEMAND IN WHEAT MARKET.
Armour Moderate Purchaser of Corn
EarIy-Later Profit Taking by Pit
Traders Caused Reaction.

CHICAGO March 31.-Rain in western and
central Kansas had a counterbalancing influence
the wheat market to-day. ofsetting firm
cables and strength in cash grains Closing
prices in all pits to-day almost identical
with yesterdays final figures.
In spite Of reports of additional rain in the
Southwest there was temporarily active de-
mand for wheat at the opening. The principal
influences that were responsible for the demand
firm cables and the strength OF the cash
situation
The market opened firm. with July up lsHAc
to Sc. at s7z.c to s75sGssc. There was consider
able covering by shorts. due TO strength in corn
Receipts in the Northwest were small. the de-
creased movement affording further inducement
TO bull traders to take on more wheat Under
these conditions July advanced TO 8&sc.
Later in the session the rain that had at
tracted so little attention earlier in the day be
came an influential factor in bringing out nuTner-
Gus selling orders from scalpers Fresh re,
ports Of general rains in western and cen, ifsr
OF the drouth district, came as a reinforcement
10 previous advices
GENERAL SELLING FOLLOWED.
There quite generally selling, with con-
siderable decline in prices. July reacting to Ssc.
Part of the selling due to the fact that
the board viii be closed tomorrow. many traders
being disposed to even up the holiday. The
market made a recovery from the low point
covering by shorts The close was about
steady, with July at size. Nav sold between
CIearances Of wheat and -four were equal to
$500 bushels Primary receipts were 10000
bushels compared with 419. 500 bushels a year
ago Minneapolis. Duluth and Chicago reported
receipts pf 22l cars. against 81 cars last week
and 245 year ago
PIT TRADERS TAKE PROFITS IN CORN.
The attitude Of the leading long the chief
feature of consideration in the pit during
the early part of the session. The big holder
moderate purchaser of the July option. In
view of this fact many shorts covered May
sales. Market held strong until late in the
day when reaction occurred OH proft-taking
by pit traders The greater part of the early
gain lost.
The market closed steady with little change
from yesterdays final figures. July opened sc
to &c higher. 53lsc to 53lac. and after selling
between 527sc and 53Izc closed at 531sc and 53Lc
cars, with 10 of contract grade.
OATS FOLLOW OTHER GRAINS.
The action of wheat and the chief
strong a fair commission house demand for
May. Later in the session there quite liberal
liquidation. and the result loss Of almost
1sTAc higher, 39ssc 39izc, July ranged
between 3sl4c and 39ac. closing at S91sc Local
receipts were 100
DECLINE OF HOGS HURT PROVISIONS.
big run OF hogs and declines of 10c to 15c in
the price of hogs at the yards caused weakness
In provisions early in the day. There was good
buying on the decline however and the market
quickly recovered. Shorts became quite active
buyers late in the day, causing firm close. July
pork being up 12l2c. at s13.l5. July lard closed
&C higher. at S-l5. and ribs were up 7hc, at