The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-26
LL'ifh the Grain Brokers;
Present Market Conditions

soils ane London stocks are lower reaching war var
country and would cause apprehension 10 grow
ing wheat IN many sections New YORK reported
al It's 9 Son{saet wheat sold 70 mn. a5 tbeir sup
plies from the West now. The cold snap VIII
very mhateIiaay improve the erS to the cash
keeping the demand small Receipts Of corn
and oats Will likely be larger this week
1.-The exports Of flour for the year 1903 are
exceedingly satisfactory TO the American milling
trade a whole" says the Northwestern Mill
er. though some sections Of the milling field
She I ITeyious year The center Of the export
flour movement seems 10 be shifting toward
the reads leading TO the newly-developed gull
ports has been far mole progressive and en-
lightened in the handling OF hour than that
wnien has controlled the rigid and arbiu AIRY
trunk lines connecting with the Atlantic sea
board. The Vision OF giving hour Tor export
good, ii nos better rate than wheat is De-
ginning to show in the annual returns. Thanks
solely to the enterprise OF the southwestern
lines to the gulf, the grand total Of flour ex-
ports for the year 1903 exceeds that Of the pre-
barrels This breaks the record exceeding the
figures for 1901, hitherto the largest, by some
lesser but stin considerable degree has been the
developing and liberal policy of the HUI rail
way interest in giving the miilers OF the MID
die West an opportunity TO obtain share OF
the Oriental trade.
+ r
One thing was proven conclusively by the
wheat market last week-namely: that the big
concentrated Armour holding for May delivery
was the handspring of the recent advance, and
the prospect possibility of war between
Japan and Russia. So far the Eastern polit-
zeal situation was concerned, the developments
of the week decidedly more pacific Eng
lish coEsols We're notably hrmer and foreign
grain markets notably indifferent. How much
OF the May strength in the Chicago market was
entirely the concentrated holding and
the fear of a corner because OF the small con-
tract stocks is a problem. The wheat situation
as a whole remains practically unchanged a
strong one from a domestic standpoint in a
60Od many ways, but weak one from the
standpoint of foreign markets and foreign de-
mand. European markets continue Indifferent
to the advances this side. Liverpool Is no
higher than when May wheat stood here at nc,
and is now, in fact, cheaper than the May price
time shown any uneasiness over the war pros
pect and the foreigners are apparently count
J ing on such liberal supplies from the Southern
hemisphere that they can AFFORD to be indiner-
ent to the advances on this side. Shipments
from Australia and Argentina are fair already,
and will be much larger. Little export business
is doing, and what there is is almost altogether
| in hard winter wheats, which selling at the
| gulf around Sic or 10c under the Chicago May
| placing the seaboard stocks from the South
| west The weakness in hard winter wheats is
| in fact almost altogether at the gulf The
1 last sc SC advance in May wheat at Chicago
/ has been followed at Kansas City. While re-
| ceipts there continue more liberal than a year
ago. there has been falling off in the last week
or two.