The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-01-09
BROKERS VIEWS ON THE
WHEAT AND CORN MARKETS.
Wheat Pit Was FILLED with Selling
Orders Early, but Market Steadied
Later-COrn IMPROVE
INeyer & Kiser.l


CHICAGO, Jan. Slower cables, higher con-
soils and less warlike prior to the opening
brought a rush of selling orders in wheat which
carried May values &c under the previous days
close The offerings quickly absorbed and
the market turned firm although nervous, and
continued TO the close. Consols fell off, clos
ing Il to 3-l6 lower, and this, with frequent
rumors of hostities and strong points I'm the
domestic situation. the influencing factors
in the trading. Minneapolis reported all -four
sales accepted and millers the best buyers of
cash wheat. large land company in North
Dakota says that the wheat supply in the coun-
try was never small The weather
map showed no precipitation In the Southwest
The liberal run Of receipts at Kansas City an
peared to be about over and receiving houses re-
port consignments as falling of so per the
past week Liverpool market closed lower, and
Paris unchanged to lc lower.
The cash situation came to the front in the
slump making strong market The demand
from all quarters was unusually good. the
sistent in its inquiries for old corn, which ship
pers are not able TO supply in any quantity The
exn0rt prospects are steadily Improving Arpen-
tine shipments showed sharp falling of being
less than one-half as large as last week and
the decrease in the supplies from other sources
will bring Europe TO this market in the near
future. The cample market strong for the
best qualities and weak for the of grades The
demand Is only awakening and when it's full
higher
CHICAGO. Jan. S-Cables lower and
war news very tame at the opening and
consequently the pit turned sellers. The OPEN
ing range about the lowest figure for the
day. The news otherwise moderately bull
ish. Exports for the week larger than last
week and Minneapolis continues TO report large
sales OF -four. The shorts bought in when they
saw the offerings small and the wheat
market rallied 1c from the opening But the
trade then grew dull and narrow and part OF
the same as Thursday Probably the market
will be higher tomorrow as shorts fear to car
~ their short lines over Sunday with the for
egn situation unsettled.
Corn naturally responded to the early weak
ness in wheat but soon after the opening the
ferings and prices rallied. We believe the move
ment will put corn higher. The receipts are fall
ing of and any increased demand will cause a
quick advance.
IA. r. Thompson & Col
CHICAGO Jan. S-The only weakness shown
by wheat was the opening. when there was a
selling rush the fact that the consols were
higher These early offerings were absorbed.
presumably by Armour. on the swell following
there was wheat for sale. The war news was
scarce but consos closed 1-l6d higher. About
everything else relating TO wheat was buish.
bles were I'D lower. Minneapolis millers Were
taking wheat cut OF store. Seaboard reported
There has been a strong corn market and the
motive has been the cash situation. The futures
al their best were &alzc higher. There was a
rmsc with shippers buying There was a de-
mand for No corn for shipment. but IL was
not TO be had. This latter hgure was large
cause a little reaction. The Patten party is the
active bull interest The cash market was &c