The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-05-27
WHEAT MAKES LAC GAIN
THE MARKET WAS NERVOUS AND
TRADING WAS NARROW.
Unsettled weather Had BuIlisb Effect
Upon Corn and Market Closed
Neutrality-suspicious. zoe Up.

CHICAGO. May 26.-Nervous suspense
characterized wheat trading to-day re-
suit of uncertainty concerning what might
be done regarding supposed open trades OF
John W. Kaufman, suddenly deceased. In
consequence, business was restricted in
volume and price changes were narrow.
July wheat closing at a gain of &c. Corn
is also up &c. oats show an advance of &c
and provisions. 1Oc to 20c.
For a brief period at the start. the wheat
market exhibited a firm undertone. opening
sales of July being up lsc to sc at S61sc to
s6ssc The question of the amount of Kauff-
mans short interest in May wheat exerted
at first considerable bullish influence. off
setting temporarily the effect of increased
Northwest receipts. and of continued IA
vorable weather. AS a result. May was
strong, and for time deferred futures G.
fiected part of the strength. Steady cao.es
also tended TO support prices.
AS the session advanced, speculative
trading was affected by signs of weakness
in cash markets throughout the county.
Primary receipts were much larger and a
crop report issued at Cincinnati was quite
bcartsh. Trading in general was fathe I
light, and during the latter part OF the day
prices Euctuated ezra tically within a mar
INV range. The market closed firm with
July at S614c. after the price had touched
SGi2c Nav ranged between y51zc and &c
closing at $3.50.
Clearances of wheat and flour were ep!Ia
10 l06.G00 bu. Primary receipts were 54i,0ON
blu. compared with 522. 900 bu a year. ago
Minneapolis, Duluth and Chicago reported
receipts of l32 cars against SO cars a year
ago.
The unsettled weather and conflicting
| claims as to the probable movement in the
near future made trading in corn rather
| hazardous and in consequence the Volum,
Of business was extremely light. Under tht
| in uence of heavy rains throughout TIE
corn belt shorts covered moderately, hold
! ms prices iln the entire day. July 1pe1 e
| &c TO 14NSsc higher at 4Sc to iSIsG4Sl4c, sole
| off to 471sQ4Sc, and closed at 4S1sc Loca
receipts were 305 cars, with 81 OF contrac
! grade.
The monotonous dullness of trading IL
! other grains was relieved to a considerable
| extent by the activity in oats. The featuT,
| of the trading was covering OF May by
| shorts, who were alarmed at the small con
| tract stocks. There was also liberal buy
| inc credited to a big provision interest. OF
| ferings were light causing a strong ton'
| during the latter part of the session. Afte
| opening unchanged to a shade higher A
| 3Sisc to SS1s03Sl4e. July sold between sc anC
! &c, closing at 3S7sc. Local receipts wer'
/ 13i cars
Covering by shorts marked the trading il
provisions. Small receipts OF hogs and high
| or prices at the yards were the incentive
| To the improved demand Heavy shipment
| of meat were an additional bull fact n
! The market closed at about the highes
point of the day, with July pork UP zoe a
| Sl135 July lard was up 1215c at $3.50 Rib
were 10c higher at S6571zc.
i Estimated receipts for tomorrow: Wheat
10 cars; corn, SOC cars; oats. lis cars; hogs
| 20.O0e head.
|