The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-03-22
COMMERCE.
Review OF the Local Grain. Produce, and
Provision Markets

Provision Markets
INDIANAPOLIS, March 81
Unreasonable weather continues to affect
trade unfavorably, yet, with the exception of
the grain markets, prices are steady and quite
firm. The grain markets, both at home aud
abroad, have found q level where the weather
and the outlook for The coming season are
more important factor than the statistical stu
alton, which is now thought to be pretty well
understood. Prices declined early last week,
but there was recovery later The receipts of
wheat at seven Western points the week ending
March were 1,o74,7s9 bushels, against 1,237,
500 the week before; corn, 2,207, 500, against
1,496243. The exports are not very large.
There is an embarrassing oversupply of -four.
The Pillsbury A mill at Minneapolis has made
100000 barrels of flour in the past five months,
said to be the largest quantity ever ground by
one mill in so short period. 1t is thought that
Washington Territory and eastern Oregon will
ship much of their wheat to Minneapolis after
the Northern Pacific road is completed. Walla
Walla is to have elevator ready for tie next
harvest. 1t is somewhat novel to go to market
by land route instead OF water route be-
cause it is cheaper, but it saves the expense of
grain-bags, insurance and interest for the long
voyage round the Horn to Europe. OF ship
ments down the Mississippi, thence to Liver
pool, very little has been said of late, but 1t is
claimed that there are 1,0O0,O00 bushels of corn
on the Mississippi which is to be landed in
Europe below the rates prevailing on the Allan
tic seaboard. Corn is receiving greater atten-
ton than formerly in Russia, which has been
steadily beaten in competition with our wheat
growers. A reduction of freight rates on wheat
is proposed in India; but that country will still
be handicapped by methods of cultivation in
ferlor to those of this country. The grocery
market as well as other markets, has been
little offsh for O day or two volume OF trade,
yet prices are firm. Even sugars and coffees
ruling strong at quotations. The passage of the
tariff bill seems to have stimulated the sugar
market Other influences are at work to bring
the long-continued depression in the sugar mar
ket to an end, and to start reaction which may
result in steadily continued advance. Cuba is
rapidly advancing prices upon what appears to
be we!l-6ased expectation of crop of less
than 100000 tons, against about 100000 tons
last year. The British and ether West india
Islands are advancing prices for the same rea-
son, viz: less crop than anticipated, and less
than last year. The Philippines are locally
speculative, and advancing under the i'm petus of
large chartered tonnage TO load in the next few
months. The Brazil crop is virtually at an end, and
only half a crop. The excess In the United
Kingdom is diminishing, and the next beet crop
is uncertain Under these Influences with only
moderate stock TO draw upon, and much OF that
held for the reduction OF duty on June 1, there
is no course open for the United States to obtain
a continued supply of sugar except by paying the
prices demanded. Hence the position is ex-
tremely strong, and is likely to continue so, for
the fact is constantly before us that the coun-
tries on which we mainly rely for full supplies
Will not this year meet our requirements, and we
must look elsewhere for a very considerable
amount of sugar. kilograms from Cuba state
that all offerings are taken up. Speculative de-
mand owing to short crop The exports from
10000 tons against 10000 tons last year,
and the stock in the five principal ports was
10000 tons, as against IL 900 tons last year. As
the above reports from the five principal ports
include about 10000 tons of old crop, it appears
that the new crop is at this time over 10000
tons behind the last crop in receipts. The coffee
situation has developed little tirmer tone, with
more inquiry, but the volume of BUSINESS con-
tlnues light and little or speculation has been
INDUCED in. Rio grades are held on the basis of
ga cents pound for fair cargoes. Teas seem to
be in satisfactory condition and steadily gain
ing strength. Desirable grades OF all kinds
getting scarce.
GRAIN.
The local wheat market shows no improve
ment, dealers showing no disposition to trade
The Board Of Trade Price Current says of wheat:
Dizziness broods over the wheat market Chicago
is barely steady at yesterdays prices while
New York is lower The increase in visible SUD-
ply has yisibly increased the prevailing weak
ness. 1t is high time the spectators were kill
ing the growing crop. If prices are to be sus-
tanned. Let us trust the wheat may remain I'M
injured Locally our market is spiritless Ar
rivals somewhat freer. Bids for No Medi-
terranean, in a small way, pretty we'll sustained,
and are virtually nominal. For No. red ST O6
bid, at which our millers would be free buyers
Cash wheat on New York market would net
about 81 at Indianapolis. We quote:
No. Mediterranean, track. 81. ga
No red, track. ........-............1 LOG
No 3 red track 90
4naISi, .rhSh ------ --..----------------- Lug
April, track ---.-------------.----- O6lo
May, track. Observation-Disclosures. LOS
Rejected, track LOO
Unmerchantable, track. 80
Corn-Quiet to prices, with fair demand
for choice grades, especially yellow, which