Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-05-02
GRAIN FUTURES
SUFFER DECLINES
Cold Weather Reports Cause
Sharp Breaks.

CHICAGO, May 2.-Grain prices were
irregular in trading in the Chicago grain
market today. The market opened gen
orally higher, but news that the cold
weather had damaged crop prospects
caused slumps.
Provisions were irregular.
May wheat opened up 1Ac at $1.32%,
and gained an additional 1&c at the
close July wheat was up nc at the
opening at $1OS%, and closed 12c higher.
May corn opened up 1c at 5Sc, and
gained additional &c at the close.
61%c, and declined &c at the close. Sep
TENDER corn opened up &c at 64Ac, and
later gained 1sc.
May oats opened up &c at 35s4c and
slid off &c at the close. July oats Were
up &c at 3S2sc at the opening and ad-
vanced lie at the close September oats
opened at S9Ac, up sc and closed off 44c.
(By Thomson & McKinnon.)
May .
Wheat-The strong cash position, as
exemplifed by the fact that there were
no deliveries in any market on May
contracts, has given the wheat market
considerable strength. There being no
definite change in the character OF the
crop news, the market has encountered
considerable realizing. Although the
crop news is generally favoHble it is
significant that one local authority notes
a reduction of per cent In the con
dition during the month of April. mas
much as weather conditions have been
considered favorable, this statement should
be kept In mind as 1t furnishes grounds
for belief that the character of the crop
news may change at any moment. The
total visible supply, 10, 44S.000 bushels, is
the smallest for this time of year, with
one exception, for thirty years past: Of
the total visible, only 80 per cent OF IT is
available for domestic purposes, the bal
ance of it being located at the sea-
board ports or in position for quick
shipment Export business slow, today,
although the seaboard claimed that a
reduction in freight rates from Atlantic
ports would probably result in some bust
ness. Outside of the cash position, there
Is nothing in the way OF crop news to
undgly stimulate the demand. This be-
ing so, today's realizing sales may bring
about a moderate reaction, but we very
much doubt any permanent weakness so
long as the movement from the country
continues small, as at present, and so
long as actual export clearanees continue
of the present volume.
Corn and Oats-The very small deny
cries Of corn on May contracts strength
ened the entire market. 1t is notlcea PIE
that there il more friendly feeling IN
both corn and oats, although the e& se
port demand for corn has dropped on
considerably and the distributing demand
is still slow. There is, however, a better
domestic demand for oats with fairly
good sales aud charters being made TO
Buffalo and other Eastern points; we
anticipate a steadines in values, although
not expecting any really Important ad-
vance
Provisions-There was some buying OF
lard and ribs by packers brokers', but
beyond this the market was devoid OF de-
mand Transactions have been mostly In
the way Of changing over of May con
tracts to deferred deliveries. General SIT
uation is considered healthy, but motive
for Immediately higher prices is not dis
cOverable.