The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-03-15
WHEAT PRICES ADVANCE
GOOD MILLING DEMAND AND DE-
CREASE IN VISIBLE THE CAUSES.
Prices Make Net Gain of IL to Csc
Corn Market Weak and Prices Low
er-0ats Weak, Provisions Lower.

CHICAGO March 14.-An active milling de-
mand and large decrease in available stocks
finally turned the scales to-day in wheat. the
close, after much uncertainty. being a net gain
OF laq5sc. Corn is &c lower; oats of Aqssc
and provisions TIC to 22Izc up
Owing TO conflicting reports to the con-
dition of the growing plant. the wheat market
ruled nervous There heavy selling on all
advances. On reports of snow in Kansas the
opening weak. with pit traders decidedly
bearish. May of 1c TO 1izc, initial quota
tions being at csc to 95lzc. July opened shade
to safe lower. at Gle to s1ssc.
Official adyices to the wather bureau failed
to confirm the report of snow in Kansas the
map showing practically snow there during
the past twenty -four hours. The bulls were ap-
parently encouraged by this state OF affairs, an
improved demand being soon in evidence Out
side markets were strong. and prices here be-
gan advance.
prominent long active buyer Of May.
causing that delivery to rise to S74c July sold
up 10 913sG92c Outside business light. With
corn showing considerable weakness. offerings Of
wheat again became liberal resulting in another
setback.
BIG DECREASE IN VISIBLE.
decrease of 1.962. coo bushels in the visible
supply caused renewed buying later in the day.
The -four situation at Minneapolis reported
bulsh and local exporters claimed higher bids
being received for wheat for foreign ship
ment.
SIC. while July was forced up to S21sc. Realizing
sales caused some recessions from the high
point, but the close was firm with May at Sotsc
Final figures July were s1Sd9l&c
Clearances of wheat and -four were equal to
bushels compared with $4,000 bushels year
ago. The amount on passage increased 1.7l2.OOO
ported receipts OF Gal cars. against 634 last
week and 6S5 cars a year ago.
PROVISION INTEREST BUYS CORN.
Under the influence of the weak wheat market
there was easier tone in corn at the start.
The sentiment soon changed. however and on
active covering by shorts the market became
strong. The feature in trading purchases
by prominent provision interest. The demand
from this checked the selling pressure
and helped TO maintain prices around Saturday
closing figure.
lower. at SAC to 541sc. After selling up to 54a.c,
the price declined to 53ssc. The close was at
closing a shade higher at 5la.Q5l7sc Local re-
cepts were 22I cars, with four of contract grade.
OATS MARKET WEAK.
Heavy selling of May oats by some of the
large commission houses responsible for a
weak market in the oats pit. Prices showed
only slight losses. however. owing to fairly ac-
tive support by shorts. The close easy
and near the low point. May opened a shade to
l.Ghc lower, at 4lhc to f7sc. sold between 4Ic
and 41h042ac. and closed at 41hc. July closed
bahc lower. at 3shc. Local receipts We're 1873
GOOD TRADE IN PROVISIONS
There good trade in provisions. and
business was of quite a general character The
market showed some firmness early on buying by
packers. but weakened later realizing sales.
decline of &c in the price of hogs had
depressing influence Closing prices were near
the bottom. May pork being 22l1c lower, at
sH021z. May lard was down 121sc. at s7.25, and
ribs 7lac at s727lz.
Estimated receipts tomorrow: Wheat. 80 cars;
corn. go cars; oats, 272 cars; hogs, 1900 head