The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-03-16
WHEAT PRICES GO HIGHER
GOOD DEMAND FOR CASH ARTICLE
HELPED OPTION MARKET.
Corn Moved Nervousiy and Trading
Was n Small ScaIe-Cash Corn
ruIl-Oats Follow Wheat.

CHICAGO. March 15.-An unusually active de-
mand for cash wheat buoyed up speculative
prices to-day and caused strong finish May
wheat shows a net gain of sc and July 1l.9
nc. Corn is up nc. oats are off sc and pro-
visions are unchanged to sc lower.
Bearish sentiment pervaded the wheat pit at
the opening. the cause being lower Liverpool
cables and liberal Northwest receipts. Initial
quotations May were off AGssc. at ssA 20
$3.50 July was down Aassc to Ia65sc at 91h3
91%c
In the absence of any material support the
clining to s5lzc and July to 90ssc. On the slump
there was good buying of July from influen-
prices finally yielded and started upward. Shorts
covered freely on the bulge and there was also
good commission house demand.
OUTSIDE MARKETS STRONG.
The advancing tendency was coincident with
an unusually strong cash demand and hrmness
in outside markets. Reports of a remarkable
scarcity of cash wheat and of the strenuous
efforts milers were making to get material for
hour We're pronounced factors in creating a
strong tone during the last hour.
one or the reports was TO the effect that st.
Louis had sold 200.O 600 bu of wheat to go to
offerings were hard to find. In view of this con-
dition and the active demand closing prices
Clearances OF wheat and flour were equal TO
4o1 goo bu Primary receipts were 5s6.O0O bu.
worlds visible showed a decrease of 100000 bu.
minneapolis. Duluth and Chicago reported re-
ceipts OF 443 cars. against 316 cars last week
and 20 cars a year
HEAVY SELLING OF JULY CORN
Heavy selling of the July option characterized
early trading in the corn pit. and in consequence
the market ruled weak The disposition TO sell
was largely the result of lower cables and weak
ness In wheat good demand. however, soon
developed for the May delivery. with one OF the
principal bull traders the leading buyer.
A firm tone soon became manifest, and the
session advanced the firmness turned to strength.
the close was strong and practically at the top
price May opened AGNc lower. at 531aq53tsc.
After selling between 53lzc and 547sc the close
was at 5f%sc. July ranged between Sic and 52hc
and closed at 52i2c, with net gain of kQ%c.
Local receipts were 20s cars. with six of con-
tract grade.
OATS CLOSED LOWER.
The action of other grains was largely the
dominant influence in trading in oats There
was considerable selling of May early in the ses-
sion. resulting in a weak tone Later the mar
ket became frmer, In sympathy with wheat and
caused recovery of nearly all the early loss.
The close was steady at small decline. After
opening 1sd11c lower. at 405sG4lc. May ranged
between 40hd40Ac and Ale and closed at Ale.
July closed with loss of 1sc, at 39639Isc. Local
receipts we're 2e9 cars
PROVISIONS FOLLOW GRAIN
The weakness in grain brought out selling or
the market showed weakness. but, with
the advance in wheat and corn. better demand
for hog products developed. resulting in stead
Ter tone The close May pork a shade
lower. at sl4q1402l3. May lard unchanged
at 81 p and ribs down sc. at s7.22la.
Estimated receipts tomorrow: Wheat. l.
cars; corn. ITO cars; oats. lis cars; hogs. 1905
head.