The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1900-06-07
CROP DAMAGE REPORTS
THEY ADDED MORE THAN A CENT
TO WHEAT PRICES.
Ohio and Indiana Yields Practically
Wiped 0ut-Corn Lower, Oats and
Provisions n Little Higher.

CHICAGO, June 6.-Wheat was active to-
day. and strong. because of anxiety over
the Northwest crop situation and reduc-
ton in the Ohio crop figures. July closing
1@11sc over yesterday. Corn closed 1sc
lower and oats shade higher. Provisions
thrived under a good outside demand and
closed strong, a shade to 121zQ15c improved.
Yesterday the wheat pit was half de-
serted; to-day 1t was crowded and every
man in it was busy. The Ohio crop report
started the advance. 1t put the condition at
% to 80 points under the government report
for May, and the lowest since 1866. Only
ten counties reported a probability Of rails
ing even half crop. These figures looked
to traders like a practical wiping out OF the
Ohio crop which last year was 10000 900 bu.
In the pit it was predicted that the In
diana crop was in ever worse shape than
in the sister State. The Daily Trade Bull
letin reduced its figures on the estimated
winter wheat yield from 374, 900 bu to
34O,00O000 bu July wheat opened a shade
higher at 67Q671sc and advanced early TO
675sQ67&c, around which figures the mar
ket hung for some time. Then the North
west damage claims began to show their
wires reported and from all sections came
claims OF injury TO the crop. One Dakota
center declared that two more weeks of
the present weather would spoil the crop
and under the most favorable circum-
stances the Dakotas could raise only fair
supply. The damage claims were given an
appearance OF sincerity by the buying or
GERS which accompanied them. The South
west had been a good buyer early, but the
Northwest soon took the lead and held 1t
to the end. During the latter half of the
session July advanced to 681sc and closed
strong, 1Ql1zc over yesterday at 6SQ6S1sc.
The cash trade was slow. Primary receipts
were $4,000 bu, compared with $4,000 blu
last year. Minneapolis and Duluth re-
ported 331 cars. against $50 a year ago.
Local receipts were 80 cars, one of con-
tract grade. Clearances from the sea-
board, in wheat and flour. We're equal to
5000 bu. New York reported II loads taken
for export.
The marketing of long stuff kept the corn
market from advancing in sympathy with
the wheat buoyancy. Country offerings
We're freer and great confidence was felt
in the quantity and quality of the forth
coming crop. There was good cash in
tailed by higher lake rates The wheat
strength hoisted the market during the
session, but after noon pressure of long
corn forced it back again and the close was
rather easy. July sold between 3sAQS9 and
SS5kd38%c. closing &c lower at 3Sssc. Local
receipts were 34o cars.
The oats market was quiet the greater
part of the day, but held firm in SYM
pathy with wheat There a fair gen.
eral trade with shorts and shippers the best
buyers. There was good cash demand.
but higher lake rates made shipping bust
ness little difficult. July sold between
21ssc and 2Ac. and closed shade i'm
proved at 2l1aq21Ac. Receipts here were
PIP cars.
Provisions were strong and fairly active
The strength was in spite of large hog re-
ceipts and lower prices at the yards. The
wheat strength was help, but the real
strength of the market lay in broadening
of the demand and better support from
locals. July pork sold between $11.259
11.2715 and s11.521z. and closed 121z615c i'm
proved at s11.471k: July lard between $3.50
and $3.50, closing shade improved at
$6.771z, and July ribs between $685. and
Sc. 721a, with the close &c better at $500
6721a
Estimated receipts tomorrow: Wheat, IS
cars; corn. 2s5 cars; oats, 154 cars; hogs,
35, 900 head