The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1897-03-16
WHEAT IN FERNEHT
CROP DAMAGE STORIES AND DE-
MAILS CAUSED AN IRREGULAR
PRICE MOVEMENT.
GENERAL TREND UPWARD
AT THE CLOSE THE MAY OPTION
WAS THREE-QUARTERS AD-
VANCED.
Provisions Fairly Active All Day
and Closed at the Best-Coarse
Grains Steady.

CHICAGO, March 15.-Crop damage reports
and denals of them kept wheat in a ferment
today, and caused considerable irregularity
in the fluctuations. The general trend, how
ever, was upward, May closing at 9s@Ac adj
vance. Provisions made another big jump,
closing at 21hG5c higher for lard to 221zc
higher for pork. Corn closed a shade higher
and oats a shade lower.
Crop damage reports were plentiful on the
opening of the market, not only from Illinois,
but also from Indiana and Kansas, and espe-
cially from the latter state. Wheat on that
account opened strong. May which closed
Saturday at 73A@733sc, opened at from 1890
73Ac and in the course of the first hour s
trading it got as high as 74Ac. The Spring
field report, which gave the area OF winter
killed in the state as SO per cent of the whole,
received confirmation from private reports
from the country. The only thing that pre-
vented those crop reports from more serious
ly influencing the market was the fact that
only a week ago kilograms from similar
sources said wheat thought to be winter
killed growing finely under the influence
of two three days Of fine weather. The
damage to winter wheat was not the only
bulish feature of the days news, although
nothing else had any particular effect on
prices. The quantity on ocean passage de-
creased LOCO, 600 blu last week. and the do
nestle visible supply decreased 1,318,000 Blu,
compared with decrease Of 473, 900 the cor
responding week of the year before. The
worlds shipments of wheat and -four to
Europe last week were only 36S8,0OO blu,
against SOLO, 900 blu the corresponding week of
last year. The English visible supply is es-
timated to have decreased 469 600, against an
increase of 344, 900 blu last year. Chicago re-
ceipts were IL cars; the year before they
were q. Minneapolis and Duluth received 302,
against 254 Monday week ago and SAG the
similar day of the year before. Some reports
of more gratifying character regarding the
crops were received after II o'clock and
caused decline to 1870. After that prices
fuctuated nervously until renewed damage
reports, this time affecting the French crop,
were received which caused a recovery to
| 74c. The market closed 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, a shade higher and at PASS @241zc
for May, and an improvement to 245sc fol-
lowed. The market became weaker on in
creased offerings from receivers, presumably
on Indications of larger receipts, May finally
getting down to 24Ac, and closing steady at
243sc bid Oats were firm at the start, chiefly
through sympathy with wheat and corn, but
under persistent short selling prices de-
clined. The closing f1rmness Of wheat caused
some reaction from the low point, the mar
ket closing steady, with very small price
changes for the day. May opened 1sc high
er at 17A@173sc, declined to 16%@17c, and
closed at 171sc. Provisions were again fairly
active at advancing prices, the highest point
of the days range being at the close. The
improvement was started by another small
run of hogs, and under good buying by pack
ers and covering by shorts advanced stead
lily. At the close May pork 22Mc higher
@4.3O, and May ribs 10c higher at $4.721s.
Estimates: Wheat q; corn, us; oats. 800;
hogs 10000.
The leading futures ranged as follows: