The Indianapolis journal., 1904-01-19
WHEAT GOES STILLHIGHER
MARKET TAKES STRONG UPWARD
TURN DURING LAST HOUR.
Decrease i'm Worlds supply, Large
Flour Business and Drought in
Southwest Bull Factors.

CHICAGO. Jan. 1s.-A curtailment OF the
worlds supply figures to-day helped sustain the
wheat market. Another factor was unfavorabe
crop news from the Southwest May closed at
from the Southwest. May closed at a
gain of na4c. May corn showed advance
of SIC. sake and provisions 2lsa5c.
War not needed TO make firm
market in wheat. Diminishing supplies were
striking enough for that purpose. In addition.
the big bull operator was an active buyer
throughout the session Opening prices were
somewhat easier on an advance in British con-
soils and an Argentine report stating that all
conditions are now favorable to the wheat crop.
May was hg%sc lower TO shade higher, at
steadied at sS%c. Buying by brokers. supposed
to be for the account Of the big long was the
means or checking the early declining tenaehcy.
Local traders disposed to sell, but the
demand from the prominent holder discouraged
Later in the day factors which had been over
looked earlier took possession OF the minds OF
developed Among the strengthening Influences
were smaller worlds shipments, decrease in
the amount on passage and the flour situation
STILL DRY IN SOUTHWEST.
In addition to these factors report was cir
culated late in the day that advices from the
Southwest claimed the condition of wheat was
about bad ever known and that rains
were greatly needed. The leader of the longs
market became strong, May advancing 10 $3.50,
but lost part of the gain on profit taking. The
close was strong, with May at SSisc.
Clearances of wheat and -four were equal 10
72S 900 bu. Primary receipts were SSS.sOO bu.
passage decreased "a 900 6u, with an increase
in the visible supply of 10000 bu. Minneapolis.
Duluth and Chicago reported receipts OF $50 cars
against $50 last week and 500 a year ago.
STRONG TONE TO CORN.
There strong tone in the corn market
and higher prices were realized. A little easier
feeling prevailed at the start, due to liquidation
by small holders who intimdated by a
small advance in consos and the lack OF any
definite war news Offerings were not large.
mission houses
Later the market advanced with wheat and
held strong the remainder Of the session May
opened 5sq14c TO 1.d9sc lower, at 4s5sg4Sc, and.
$lag4s1c Local receipts were 299 cars. none
of contract grade.
OATS FIRM
Oats were firm, except for a brief period OF
easiness. in sympathy with the leading grains
early In the day. The chief strengthening in
fuence was an active demand from the leader
of the bull crowd. This started a general com
After opening a shade 10 lsQhc lower at AKA
41l2c, May sold between 4lAc and 42c, closing at
41Ac. Local receipts were 2S7 cars.
PROVISIONS MAKE GAINS.
Provisions suffered a little early weakness on
liberal receipts of hogs. with lower prices at the
yards but later the market became firm. in
sympathy with the strength in grains. All OF
the opening loss was regained and closing prices
showed slight gains. A feature in trading was
the demand for lard for foreign account May
up l21sQ15c at $40, while ribs were 2lzC
higher, at se.6614.
cars; corn $40 cars oats. 215 cars; hogs 1890
head