The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-26
ARMOUR SELLS WHEAT
THE NAY OPTION BREAKS OVER .
CENTs-JJLY NOT so WEAK.
Coming Ont of stop-Loss Orders
When May BcEnn tn Break.
fastened the Decline.

CHICAGO. Jan e. sensational break OF Ssse
occurred to-day in the price OF MAY wheat. sales
Of millions Of bushels for May delivery 10y The
Armour interests was the prime factor chang
ing strong market into OF utter weakness.
There was a little recovery from the Low point.
but the close weak. with May &C under sat
urday's final figures. Other grains suffered with
wheat May corn closing al loss Of PC and
oats sc. Provisions ruled strong and closed ''<e
to lilac higher.
Extreme cold weather gave rise to spprehen-
sion among wheat traders that damage to the
growing plant was probable. As result Of these
fears there urgent demand from shorts at
the opening
May @saiac ig1sc higher. at si7sas2'1c.
Little wheat was ofrersd at the start, ana tne
price rose 10 s2Ssc But at this figure tie wheat
began to come out. The selling was increased
weakness. and alto by the large worlds snip
ments
brokers who were said to be acting FOR the Ar
rour interests. In consequence % tnis change
OF front the part OF the leading holder the
market started 10 break.
STOP-LOSs ORDERS CAME OFT.
On the down turn great many stop-lozs orders
into the pit and FASTENED the decline.
Enormous quantities OF wheat were thrown upon
the market. the big long alone being credited
with disposing of anywhere from and one
half to seven million bushels
When the pressure to sell had subsidized May
was down 10 sec. drop OF csc from the high
point Shorts became active buyers the
decline and the demand from this source ad-
vanced the price More wheat out.
however on the bulge. and another reaction
followed.
The close was weak. with May e under sat
urdays close at SsSassiFe The July delivery
lisql.c higher al S2lsaSSssc. the price advanced
10 $3.50; but then declined to sllsc; a loss OF
clearances of wheat and flour equal to
$1,000 bu. Primary receipts We're 1900 bu
While tSe Visible supp Su
Minneapolis Duluth and Chicago reported re
l.OU3 year ago
CORN SHOWS GOOD STRENGTH.
In the face or the big break in wheat the corn
market showed surprising strength. Influential
buying by local traders. on the poor showing OF
the grain coming in maintained firm tone
during the early part of the session. Later
in the DAY. however. prices were unable to
Withstand the severe strain caused by the slump
the selling was only moderate node ate 'i'''D "'''''s
May opened lsc TO lac hIgner at 1874 dis5sc. sold
f9l.o. Local receipts were 450 two OF con-
tract grade
GOOD DEMAND FOR OATS.
There good demand for oats throughout
the greater part of the session offerings being
we'll taken until the close. when the selling
became too liberal for the demand. A slight de-
cline was experienced late in the day. and an
easier tone prevailed at the finish.
The bull leader was again an active supporter
OF the market. Small receipts and an excellent
shipping demand were bull factors May opened,
lsc higher. at 42l4c, advanced 42sc. and. after
declining TO 4lssc, closed at 4lAc Local receipts
were 80
LIBERAL PURCHASES OF LARD.
! The feature in the provision trade was liberal
/ purchases OF lard by outside concern. As a
| result OF this demand prices showed good gains.
/ There considerable realizing the ad-
|
up l5c. at SiS.4Iis. Lard 15c to i1l2c higher.
at 81 COO az. with ribs up 7lsc. at sesOG6 szls.
! Estimated receipts tomorrow: Wheat. 45 cars
| corn. s35 cars; oats. 2l5 cars: hogs. 1900.
| Leading futures ranged as follows: