The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-02-05
GRAIN PRICES GO HIGHER
BOTH WHEAT AND CORN CARRIED
TO NEW HIGH RECORD FIGURES.
When May wheat Reached % lac n
Heavy Selling Movement set In
Corn Excited at the Opening.

CHICAGO. Feb. Am cereals made new high
record marks to-day Active buying the APP
parent certainty OF the Wheat
for Hay delivery at one time sold at 95lsc. a gain
of 1Ac TO 17kc over yesterdays close.
May corn went up 1850 to 1izc. touching $3.50,
while May oats advanced an cent 10 1850.
Closing quotations. were well in sight of the
top Provisions also were affected by the war
scare and closed strong.
owing to the critical state of affairs in the
far East wheat traders were keyed to high
pitch the openin Z. Shorts energetic
in their efforts to get under cover and the pit
was so bare of offerings that before the initial
up 1H@ssc to IIkdiSc above last nights close.
sales being made ar y4AQ95Ac. July was up &c
When May reached s51kc which is high
record mark for the crop active profit-taking set
in. Large quantities Of wheat were put out by
commission houses. and there was considerable
There was also some selling in July. which was
credited to Armour. This interest, however did
the session advanced the market became quieter
PRICES GRADUALLY EASED OFF.
Prices gradually eased off under The load of liq-
uidation until time July sold under yes
terdsys final figure, or at $3.50. decline of 1850
from the top. May sold off to 94c. with little
demand at the decline.
The market remained quiet and comparatively
rally occurred. on renewed rumors of warlike
moves commission houses became active buyers,
and shorts again started IN a. wild rush 10 cover:
The last few minutes of Trading were almost
the volume Of business exceedingly heavy.
Prices at the close had practically attained the
early high altitude. final figures May being
at 952sG951sc. net gain for the day Of 14c. July
closed &c TO lc higher, at S09sGS5%c.
Clearances of wheat and flour were equal 10
against incomplete figure of 159,l25 bu year
ago Min9esloiis Duluth ana 200 SniGss9 rep0re e
and S7l cars year ago
CORN EXCITED. THEN QUIET.
The opening in corn full of excitement
as was the early trading in the wheat pit. At
first it was all rush to buy May was up 1ka%c
to 1h@19sc. at 551z96s14c. All the big houses had
come into possession of buying orders over night.
and in addition to this shorts were extremely
anxious to
Within the first few minutes of trading May
sold at $3.50. but at that price the market ran
into heavy offerings from big holders At the
entirely subsidized, and for time the market
ruled quiet.
worked their way down until May had declined
to S5e shortly before the close s s ae
the top Sal figures on May being at 1SG rece met
2f0 cars, none of contract grade
OATS PRICES HIGHER.
Oats had the wild experience as the
other markets at the opening, prices going up
sharply on general commission house buying
and active covering by shorts May opened &c
to sc higher at f6lsc to Abhc, ana Wltnln H1teen
minutes had advanced TO 1910.
The decided rise in the price broe ght out heavy
liquidation, large part of which was said to
be for the account of the principal holder. Under
such selling prices declined, May going back 10
451zc Another rally occurred near the end of the
session. sympathy with wheat and corn, market
became active and a large part of the loss was
regained May closed sc higher at 46Ac. Local
receipts IL
BIG TRADE IN PROVISIONS.
Trading in provisions opened with big buy
ing movement. similar to the conditions wit
messed in the grain pits. Commission houses
seemed to have plainly of orders to fill that
side OF the market at first
offerings very light at the start, which
resulted in a considerable advance Later there
heavy selling OF May lard by prominent
long. With the break in grains the selling be-
came general and most of the early gain was
lost I he market rallied late in the day. along
with wheat and corn. and the close was strong.
Final figures May pork were up 11zc at
S19.7219, after the price had ranged between
$13.67lk and Sl3S5. May lard sold between $500
and ST. - and closed at S762ia, a gain OF 21zd5c.
Ribs closed shade higher at Sc. S2l2, after rang
ing between S6.S and $3.50. .
Estimated receipts tomorrow: Wheat. 25 cars;
corn, 175 cars; oats, 80 cars; hogs. 10000 head
Leading futures ranged as follows: