The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-29
WHEAT ADVANCES AGAIN
COLD WEATHER AND RAIN IN AR
GENTINA BULL FACTORS.
SpecuIutiNc Trading i'm July Option
still Incrcasing-Both May ana jury
Close the Day Higher.

CHICAGO Jan. 2s.-Severe cold weather
throughout the West and Southwest. with rain
in Argentina strengthened wheat prices to-day
A gain in the price Of cash wheat in the North
west also contributed TO the advance The close
was firm May being up Ease. May corn closed
l4assc higher. but oats were precisely where
they left of yesterday. Provisions were un-
changed to sc lower.
Early news in the wheat pit was OF bearish
nature Gables were lower. the price Of consols
steady and crop news generally was of an en-
couraging Character The Fit crowd was in
clined to favor the bear side OF the market anu
sold quite freely at the start.
MAY opened isGI.c lower a shade higher at
S9kGS9Izc but soon sold of to sec. The Armour
interest then came to the support of the market
and. on buying by this interest. May quickly
advanced to sszc. There was renewed selling
by locals on the upturn. and. with let-up in
the demand the price gradually declined TO sec
The sentiment improved later in the day on
the strength of the cash article at Minneapolis
and on confirmation Of rain in Argentina
prominent commission house had a private dis
patch from London which stated that the war
cloud was again assuming alarming proportions
A decline in the price of New York stocks caused
ana buying orders were most in evidence during
last part OF the session
MAY MOVES UP.
had reached sOAc. Realizing sales late in the
day caused a decline of &c, but the close was
firm at Ss7sc. a gain OF kQSsc over yesterdays
final figures. The speculative demand for the
July option showed some increase. oo,,. ,Ao.
After ranging between Sllzc and Sz1zc that
month closed hd&c higher, at SZ>sc. Fears OF
damage to the growing crop by tine pe eo1 of
Clearances of wheat and -four were equal to
Sc 1888 bu Primary receipts We're ASS. 800 blu.
against 800 bu year ago. minneapolis Du-
luth and Chicago reported receipts OF SOi cars,
against 356 cars last week and Al cars year
CORN INFLUENCED BY WHEAT.
The corn market was influenced mainly by the
action of wheat There early selling by
local bears. due to the easier tone in wheat, but
when prices in the wheat pit advanced a mod
crate commission house demand developed.
sulting in a hrmer feeling The shipping de-
mand was fairly good but the cash business was
The close in speculative trading firm.
lower to shade higher. at 4s14q4s7sc. and prices
ranged between 4s1sc and 4s5sc Local receipts
OATS FOLLOW OTHER GRAINS.
Oats followed other grains. huctuating within
| narrow range and closing about unchanged
from yesterday. Commission houses were buy
ers in a small way and the selling was scat
tered May opened unchanged to &c lower, at
! closing 425sc. Local receipts We're 81 cars
PROVISIONS CLOSE STEADY.
Liquidation of lard by the leading bull inter
ests was in force in the provision pit early in
the day. and the whole list weakened in conse-
! quence. Later. however. the market recovered
most Of the loss scattered commssion-house
demand brought out to considerable extent
| by the frmness in grain prices. The close was
steady, with May pork unchanged at SIS. 321s
May lard dowr &C. at S7.4211. Ribs OF
| 21hc at &c. 1000. 72k.
Estimated receipts for tomorrow: Wheat, 80
cars; corn, 225 cars; oats. rs cars; hogs, 81 900
| head.
Leading futures ranged as follows: