The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1893-04-05
THE WINTER WHEAT.
Reports That the Crops is Seriously
Damaged.

CHICAGO, April S.-The winter wheat
crop is either seriously damaged. or re-
ports being received here are much ex-
agVerated. The bull clique today were
buyers OF both July and May and had no
difficulty in frightening the shorts and
advancing the price tic from the days in
side prices. July closed tc over Sstur-
DAYS closing prices and May 20. Corn
was firm and gained 3c. Provisions were
nervous and irregular. closing weak. close
to bottom figures for the day and. COM
pared with Saturday night, 424c of for
pork. l5c for lard and 224c for ribs.
Wheat opened for May about s@sc
lower than Saturdays closing and recsded
&c or so more, then became stronger aud
prices were steadily advanced I3c, then
weakened of slightly and the close was
steady. The weakness at the start was
due to the reported failures caused by the
break in provisions Saturday. These
failures caused some eRsiness among
traders and induced some selling. But
good buying for May turned the market
and caused the advance. Bad crop re-
ports rec lived from the Southwest. from
Central Illinois and Indiana. Dry weather
continues in Kansas and Missouri. There
was some talk Of "bullish" Illinois state
crop report, which is expected within a
day or 80. The July future sold within
about SIC of May, but the difference
widened out later to SIC again. The v ST.
bic supply decreased less than generally
Dtln 4
ago decreased PSI 600 bushels. The total
supply was reported 1864 600 bushels,
and a year ago at Al $3.50 bushels. The
receipts in the Northwest continue large
and oca receipts also exceeded the esti-
mates. Export cleRrances we're larger.
In corn the initial transactions were at
/ about the final quotations OF Saturday,
and on selling by longs and local crowd IN
general the price broke tc when SC re-
action set in, the early sellers turning buy
ers, due TO prospects OF decrease In the
visible. The advance did not hold, how
ever, the upturn bringing out more ne ing
orders. nnder which the market s8gged
back Hose rallied again and closed with
ia 90 ADVANCE for the day. The local
crowd o. arentiy continue TO hold bear
ish views, and on any advance are in
clined to cell, notwithstanding the steady
decline for some time back. The large
stocks and slack inquiry for the contract
grades is the principal depressing factor
There was q liberal trsds in oats. but
| fluctuations confined TO &c, and the close
was about the same prices as on Saturday.
| The feeling was nervous. The provision
market Was a puzzle, each product hav-
| ing to stand on its own merits and
al times some of them appeared to
| have no merits The market opened
nervous, with prices at about the bottom
figures on the bad break on Saturday
The first thing in order was fair recov-
cry under lead oil lard. This product was
bought for September by the leading SELL
ers OF Saturday. and prices recovered SOC TO
40c from the lowest point. Pork and ribs
made a good recovery at the time. Then
the market got irregular and the trade
shakv. While lard held well, pork and
ribs got slaughtered late in the day 4
lot of pork sold by George Parker was said
to be for Armour. Long stuff kept COM
ing out from all quarters on the wav
| down. The posting OF the failure of TWO
concerns-Smon q Co. and Snodg grass,
both thought TO have. been hurt by the
slump in provisions Saturday added to
! the shsky condition OF the market Simon
was thought 10 be loser on 1000 tierces
of lard. and Snodgrass was said 10 be IN
the gap for larger line OF stuff held for
Ryan of Dubuque. The estimated re-
ceipts for tomorrow are: Wheat, 400 cars /;
corn, 235 cars; oats, 2l5 cars, and l., 900
hcgs. There will be no session of the
board of trade tomorroW-e election day.
The leading futures ranged as follows: