The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-03-16
CROP DAMAGE REPORTS
WHEAT WAS NERVOUS. But THE
GENERAL TREND WAS HIGHER.
Other Grain Closed shade Lower
but Provisions Advanced, Pork
Gaining 81 1-2c.

CHICAGO. March 15.-Crop damage re-
ports and details of them kept wheat
in a ferment to-day and caused con-
siderable irregularity in the fuctua-
tions. The general trend was upward. May
closing at ss024c advance Provisions made
another big Jump. closing from 212d5c high
er for lard to 22iac higher for pork. Corn
closed a shade higher and oats a shade
lower
Crop damage reports were plentiful at the
opening of the wheat market not only
from Illinois but also from Indiana and
Kansas especially from the latter State
Wheat on that account opened strong
May. which closed Saturday at 73A6732sc
opened at from 1850 10 73s4c and in the
course of the first hours trading it got
high as 74lsc. The Springfield
report which gave the area of
winter wheat killed in the State as
SO per cent. of the whole. received partial
confirmation from private reports from the
country. The only thing that prevented
those crop damage reports from more Sc
riously influencing the market was the fact
that not only week ago kilograms from
similar sources said wheat previously
thought to be winter-killed was growing
finely under the influence of two or three
days of mild weather. The damage TO win
ter wheat was not the only bullish feature
OF the days news. although nothing else
had any particular effect on prices. The
quantity on ocean passage decreased 1000
O00 blu last week and the domestic visible
supply decreased BIS goo blu, compared with
a decrease of i73.OO0 bu the corresponding
week of the year before. The worlds ship
mentS of wheat and flour to Europe last
week were only 3,6SS, 900 bu against 6,O01 900
bu the corresponding week of last year.
The English visible supply is estimated to
have decreased 10000 blu against an in
crease of $4,000 bu last year Chicago re-
ceiptS were IL cars: the year before, q
cars Minneapolis and Duluth got 302
against 254 Monday week ago and $40 the
similar day of the year before. Some re-
ports of q more gratifying character re-
garding the crops We're received after IL
O'Clock and caused decline to 1850. After
that prices fiuctuated nervously until re-
newed damage reports. this time affecting
the French crop. were received which
at that price.
Corn was not much affected by the agita-
ton over crop damage to wheat after the
first half hour of the session. The opening
was firm and a shade higher at 243sG2SIbc
for Nav. and irnpr ovArnent 24ssc fol
lowed. The market became weaker on in
creased offerings from receivers, preSum-
May finally getting down to 24lzc and clos
ing steady at 24$sc bid. Exports were
Oats were firm at the start, chiefly
through sympathy with wheat and corn,
but under persistent short selling prices
declined. The closing firmness of wheat
caused some reaction from the low point.
May opened &c higher at 17l4d17asc, de-
clined to 167sT11c and closed at 17hc.
Provisions were again fairly active at ad-
vancing prices. the highest point of the
days range being at the close The i'm
provement started by another small
run of hogs, and under good buying by
packers and covering by shorts prices ad-
vanced steadily. At the close May pork was
2212c higher at $7.S212: May lard 212GI5c high
er at A2ll9g4.3O, and May ribs lOc higher
at A.7215
Estimated receipts for Tuesday: Wheat
q cars: corn, 2l5 cars; oats. 800 cars: hogs
20 coo head.