The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-03-15
a RECOVERY IN WHEAT
ON CROP DAMAGE AND BRAD
STREETS SMALL SUPPLY ESTIMATE.
Wheat Climbs Up from 60 1-Sc to
20 3-Sc at the CIOse-Corn shows
Strength-PrOvisiOns steady.

CHICAGO, March H.-An unexpected small in
crease in the worlds stocks OF wheat to-day, to-
gether with substantiated claims Of crop damage
caused a recovery of 1c from the low point in
wheat and May closed with a net gain Of asai5c
Corn left off &c higher and oats unchanged Lard
closed without change and pork and ribs ad-
vanced phase each.
Complete Indifference at Liverpool to the rally
here yesterday. and large receipts in the North
west were the items OF information under the
influence of which wheat opened sc lower at
6s4d6ssc. half inch OF rain fell in northern
California during the twenty-four hours and tele
grams from San Francisco reported indications
Of general rains for the State. This started sell
ing by commission houses and the price got down
to 69sc before IL gave any indication OF improv-
ing Crop damage soon became the burden OF the
news that came to hand and the price gradually
recovered the loss it started with. The damage
reports came from wide and to almost
every commission house in the trade and in sew
eral instances supported by people on the floor
who had in from a personal inspection of
the wheatfelds.. Minneapolis and Duluth re-
ceved 500 cars, compared with 362 a year ago.
Chicago got 101 carloads. OF which three graded
contract. Primary Western market receipts We're
s35, 600 bushels. against Ss7. 600 last year. The
Atlantic port clearances of wheat and -four
amounted TO Rl,Vp puSneIs. REPORTS were cur
rent that freight room had been engaged at Bos-
ton for shipment Of 100000 bushels Of wheat.
and while that was said to have a weakening
effect Liverpool 1t helped TO stffen the market
here. 1t had been expected that Bradstreets re-
port would make an increase OF worlds stock for
the week of about 100000 bushels and conse-
quently when the report issued showing a
total increase Of but 81. 900 bushels the dsap-
pointment of the bears shown in increased
buying in of shorts The market became quite
strong. especially for July wheat the
superior demand for which narrowed its discount
under May and reflected increase in crop
damage. Under this buying May advanced to
7Os@7OSsc July to S9@sss4c and closed respective
ly at 702.c and 6s19G6S5sc.
Corn met with general selling by commission
houses at the opening and initial transactions
showed a sharp loss The crowd. however. was
short and on the decline good deal of covering
took place. while there influential buying in
July. AS the session advanced the market became
strong and the early loss more than recov-
cred. Receipts. sos cars. May opened &6p15c
lower at 34asQ34%c and advanced to 35l4c, sellers.
at the close.
There was quite a good deal OF short selling in
the oats market and this kept the price from
advancing to any extent. Buying. which was
scattering. with the taking off Of hedges by par
ties who have sold. was an important factor.
Receipts. 2ss cars. May opened NC lower at 2e4c.
rose to 2s1sQ2sssc and closed at 2sisc.
There some selling out of long pork early
in the session. but that appeared to have drained
all that was likely to come and provisions ruled
steady thereafter. Shipments Of meats were
large. May pork opened 212c up at Ss1219, rose 10
50 171zQ9. % and closed at Ss.171z The range in
lard and ribs was small.
Estimated receipts for Wednesday-Wheat, 40
cars corn. 100 cars; oats 40 cars hogs, 80, 900.
Leading futures ranged follows: