The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-03-27
WHEAT LEAVES OFF WEAK
DOUBT As TO EXTENT OF INJURY OF
WINTER WHEAT CAUSES DECLINE.
At the start the Market Was Strong
Big Purchases by Influential In
tcrest Feature of Corn.

CHICAGO, March 26-Doubt as to the severity
OF injury inflicted upon winter wheat led many
traders to lquidate to-day, causing weak
close Compared with last night, final quota
tions on July wheat are down BG1.e. Corn is up
&c oats are also ap &c. Provisions are prac-
tically unchanged.
Freezing weather throughout Kansas and as
far south Oklahoma caused an active gen.
eral derrand for wheat when trading began to-
day. There rush of buying orders from
commission houses. shorts and pit traders, but
apparently little wheat was for sale. The open
ing quotations on July. at sSc to SSSsc, showed
a gain of lzqSc to 7saic over yesterdays clos
ing figure. The opening figures were at the
higher point of the day.
For time the market held firm under the
influences of the buish news from the North
west The cash situation at Minneapolis was
reported as strong. with a good demand there
for No. . red wheat. well as for lower grades
Reports from the same source told OF good flour
sales.
SENTIMENT CHANGES SUDDENLY.
Toward the latter part of the session senti-
ment suddenly changed, and considerable liquida-
tion set in. The selling was due in part to an
impression that little harm would come to the
growing plant ; a result of the sudden changes
in temperature. and partly because OF a desire
among local scalpers to even up over Sunday.
Offerings met with little demand, and, IN con-
sequence. the market weakened perceptiby. July
closed at the bottom with loss of lsGAc. at
s7l4c. After selling between s51sc and s6c May
closed at 95i5c.
CIcarances of wheat and flour were equal to
ia. 800 bushels. Primary receipts were $4,000
bushels, against 1890 bushels a year ago.
Minneapolis. Duluth and Chicago reported re-
ceipts of 22o cars. against 396 last week and
1y9 year ago.
n
Purchases OF half a million bushels of May
and July delivery by the leading bull interest
we've the feature in trading In corn. There was
d fair scattered demand. but the support from
the principal long was the main influence in
OF Ioor quality of seed corn were minor factors.
Offerings came largely from small holders, but
Prices received some setback late in the ses-
sion, due to the weakness in wheat. but the
higher. at 5O5sQ5Oa.c July sold between 5OSsc
and 0&q503sc. closing at 50SsQ5Gi2c. Local re-
cepts were 126 cars, with two OF contract grade.
OATS FOLLOW WHEAT.
Oats showed greatest strength during the early
part of the session. There active covering
by shorts on small receipts and good cash de-
mand, while offerings were only moderate. on
the break in wheat commission houses became
free sellers and easier tone developed. The
close was steady. The opening on July was IA
ing between sSc and 3sAc the close was 3Sq3slsc.
Local receipts were 13o cars.
PROVISIONS GAIN THEN LOSE.
Provisions were firm early in sympathy with
| higher prices for hogs, and on the strength in
| grains. There was a fair scattered demand
packers caused a loss of nearly all the early
| gain. The close was steady, with July pork &C
higher at slS35 July LARD was unch h ms, at
/ Leading futures ranged folIows.