The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1891-03-18
PRODUCE MARKETS.

CHICAGO, March 16-The visible supply
OF grain as reported for the board OF trade is as
follows: Wheat. 100000 decrease, 250.OOO;
corn, 2,27O.OCO, increase. $1,000; oats, 2,sI6OO0
decrease. 5000; rye, 10000. increase, $4,000;
barley, l.e6l,O00, decrease, $4,000. All OF the
early Indications for lower prices for
wheat. The indications held good for some
time, but the market finally improved sharply.
The early selling had been overdone. There
brief little squirt upward at the outset,
which was due to the higher prices prevailing
AZ Liverpool, The squirt was soon over
and values weak because Of receipts
rentes. The decline in the latter securities. il
was thought verified Saturdays reports #
financial trouble. Later il was found that the
lower quotation was due to the fact that the in
terest had been deducted and that values OF
the rentss were rea IL higher than on Saturday
This was therefore turned into a builish argu-
ment When il became known that there was
q respectable decrease in the visible supply
that the country elevator stocks northwest had
decreased heavily and that the early short
sellers were anxious to get out there was quite
little advance in values. May wheat opened
at S1.0l, sold TO $l.0lHd1.O151, off TO S1.0OX
and then bulged to $L0I{. Official closing
cables quoted Paris and Berlin lower and
caused a reaction here to SI.007s for May.
Foreigners were free sellers of July wheat in
New York. The large firms here seemed TO
have seal ping" orders early, as they were on
both sides of the market at various times.
During the bulge in prices Ryan bought 5OO-
600 bu. and Durham and Driver each bought
about half that amount. The London cores
pendent of Kennett, Hopkins & Co. writes as
follows under date of March z: Wheat mar
kets strong and advancing, the advance being
more conspicuous in forward cargOes than in
spot wheat as milers only pay advance asked
when forced to buy. There are continued and
increased reports of damage on the continent
from Holland. Belgium and parts of Germany.
Fears are also entertained OF damage having
been caused by the severe frosts in
Bulgaria and Russia but these we receive with
doubts. The reports from Spain very bad:
those from Italy and Hungary very good. OF
course the damage done in France is of most
importance. The minimum required to be re-
seeded is $500 0 acres, which is about 20 per
cent OF the total The seed for this amount
would seriously encroach on the foreign wheat
already bought and there is great risks of
spring sOwings in France not coming to ma
turity. Some of the repiowed lands will be
sown in other crops, barley and beets. Victoria
crop turns out a bumper. possibly 100000
bushels for export.
Corn was Aighty; the trade was quite narrow.
II was an easy matter to advance values as
few cared to go short of the market. This was,
of course, taken advantage OF. Bart
sold more corn to New England points than
at any time IN i've months, attempted to buy
e little May. There was none for sale. The
market which was previously inclined to drag
maze sharp Jump lOrua Td. May started at
605sc. sold to 605sc. to 621zc. and eased back
to &c.
Oats followed corn. May started at 505sc
sold to 5O3sc. and up to 5114c. The market
was quite nervous. Provisions fluctuated in a
lively manner over an extremely wide range
All of this range was upward from the opening
figure. Sellers were tifnid and shorts were try
Ing TO buy whenever values were advancing
but the trade at large ran quickly from liberal
offerings OF product. May pork started at
tl0s5 sold at SLIPS % to S11.O5, up to $11.35
and off before the close to S1l.15. Mccormick
& Co. started the early bulge by liberal pur-
chsses around Sl090 Lard and ribs were as
strong relatively as pork.
The leading futures ranged as follows