The Wichita daily eagle., 1896-07-09
DAMAGE NEWS SENT
INDIANA CROP REPORT CAUSES a
JUMP IN WHEAT.

Wheat is Dull and Lifeless-Conventien
Bulletins Distract Attention From the
Wheat Pit-Reports From Both Spring
and Winter Wheat Areas Continue to be
of Damage to the Wheat CroPs-Anticl-
patton of the Government Report
Causes a Mild scrambIe-Corn Ex-
tremeIy Ouiet-Provisions Declining.
Chicago, July s.-All grain markets
were affected more or less by the con-
tinued reception of crop damage re-
ports. The Indiana state crop report
caused a jump in wheat. Corn closed
unchanged and oats Il cent higher.
Provisions were weak and declined so
10 cents.
Wheat was dull and lifeless. The con-
vention bulletins naturally distracted
attention from the pit and the market
all day moved slowly within ssGA cent
range Advices from the northwest
We're in the main confirmatory Of the
damage reports previously received and
the same was true Of the adyices from
the winter wheat sections and the trade
got the impression that the government
report, which IS due next Friday, can
hardly fail TO show material reduction
in last months estimate. This started
some covering by shorts and encourag-
ed some buying for the long account.
The apparent backwardneSs in the
movement of new wheat has proved a
disappointment and helped 10 develop
a bullish sentiment. ST. Louis buying
orders were plentiful, due, 1t was
thought, to the unfavorable nature of
their business returns from the tribu-
tary territory. The market had a sharp
upturn during the last hour, prices
touching the highest figure of the day.
an Indiana crop report being the stinu-
liant, and exhibited about AQ3s cent ad-
vance.
Corn was extremely quiet Wheat
was the sustaining influence, huctua-
tions keeping all day within a 4 cent
range September opened unchanged
at 27s cents, declined TO 2e7s cents,
rallied, and closed steady at 271s cents
Ia
Trading in oats was very limited, but
prices ruled firm and slightly higher,
caused by the firmness of wheat. Sep
tember opened Is cent higher at 1524
cents, and ranged between 15H cents
and 152sG151a cents, closing at the lat
ter price bid.
Provisions turned radically weak at-
ter the first hour under offerings by
packers. Stop loss orders were uncov-
cred and prices dropped to the lowest
point Of the season. September pork
closed 10 cents lower at $50, Septem-
Der lard 10 cents lower at 3.75 and Sep
ifo,,, l., 49, 2 a
Q3.721k.
Estimates for Thursday: Wheat 143
cars; corn 545 cars; oats 10 cars; hogs
5000 head.
AVAILABLE GRAIN SUPPLY.
New York, July Especial cable and
telegraphic dispatches to Bradstreet's
covering principal points of accumula-
ton, indicate the following changes in
available grain supplies last Saturday
as compared with the preceding Sat
urday:
Wheat--United States and Canada
east of the Rockies, decdease ! 1,S42, 900
bushels; afloat for and in uErope. in
crease 1,640; total decrease in worlds
available supply, $4,000.
Corn---United States and Canada,
east of the Rockies, decrease 5000 bush
els.
Oats---United States and Canada, east
Of the Rickies. decrease $50. 600 bushels.
The only material decrease in availa-
Bile stocks of wheat in the United States
last week not reported in the official Wis
ible supply statement were 75O. 900 bush
els at Fort Williams, Ont, and 249, 900
bushels in Chicago private elevators.
The largest increase in available
wheat stocks last week not in the official
visible supply statement was only 45, 900
bushels, at Galveston.