The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-03-24
MAY WHEAT WAS HIGHER
BAD CROP REPORTS RESPONSIBLE
FOR a SMALL ADVANCE.
Other Markets Were Generally In
active, Corn. Oats and Provisions
Closing Unchanged.

CHICAGO, March 23.-Wheat closed to-
day at an advance of ssc for the May OPP
tion after opening at &c decline. Crop
damage reports were of a rather lurid hue
and were responsible. for the advance, the
extreme dullness of trade probably prevent
ing them from having a greater effect.
Corn, oats and provisions were inactive and
showed but little change at the close.
Wheat had much more reason for weak
ness at the opening than was the case on
Monday. Liverpool quoted wheat from Id
To lad lower. English consols were from
Is per Get. to 3-16 per cent. higher and
Minneapolis and Duluth reported receipts
of 40 carloads, against go Tuesday a week
ago and 100 the corresponding day of last
year. The consequence of the impression
created by those items was that for a few
seconds there were sellers of May at from
Iz4c down to 1212c, against yesterdays
closing price of i2asc. But there was found
TO be a host of buyers at more money. The
price was &c in a few moments more and
I3Ac soon after. What the rank and file
OF the local traders were uniformed of at
the opening was the extremely bad crop
reports, especially from Indiana and Hi
hols, which commission houses received IN
their mali. 81. LOUIS soon gave an indlca-
llon OIL their character by crowdlng Inelr
NN~05 W lAS OINCIS dAlu
steaulIy pushing the price OF July up IN
their own market until in about hair an
hour they had the st. Louis price up Use
over where ii closed yesterday. New YORK
sent one Duiiisn item or news by stating
that wheat taken Tor export there yeSter-
Gay aggregated 360,VJO bushels, l44. O0U BUSH
ems OF "hicn was Tor prompt shipment. An
utter absence or export inquiry was re-
ported to-day, however. Chicago received
10 cars OF wheat, against 40 u year ago.
Inc trade here was rather more strongly
impressed by the bad crop news in the lat
ter half than in the fOrcpart OF the session
and Bradstreets report showing 4.96O.0V1 bu
decrease in the worlds visible also came to
the assistance of the bulls, resulting in the
at BIC. The bad crop reports had a more
decided effect Oh the July option, which
advanced l1sc.
Corn was firm, but very dull, the fluctua-
to &c. There was but one feature to the
market, enormous seaboard clearance,
which amounted to 1,SS9,000 bus. This served
to keep prices firm and caused &c advance.
2issM244c and closed at 2i5sc.
Another day of extreme dullness was
passed in the oats market, with absolutely
nothing in the way OF news to report.
Prices were confined to a very narrow
range and were controlled entirely by corn.
Seaboard clearances were 5l.OO bus. May
opened a shade higher at 111snl7Ac, set
tied at TIC and closed at that figure.
Provisions were inclined to heaviness
early in the day. although hog receipts
were much less than expected. Yard prices
were weaker and affected provision brok-
ers to a certain extent. Near the close
about all the early loss was recovered on
good buying by English houses. May pork
closed 21ac higher at S. 80: May lard, a shade
at $4.65 bid.
Estimated receipts for Wednesday,
Wheat. IL cars; corn, 40; oats, 10; hogs,
Leading futures ranged as follows: