South Bend news-times. (South Bend, Ind.) 1913-1938, 1914-07-04
FIELDS CHANGED
BY CROP KILLERS
Reliable House States That
Damage in Northwest Has
Been Exaggerated - July
Futures Quoted Higher.
~ JOsEPH y. PRTTCHARD.

CHICAGO. July at is a well known
fact that during the period when the
wheat crop ia IN a doubtful position
some Of the crop experts sent into the
fields fail 10 give reports that may
be acceptable as rejecting prospects.
The Van Dusen- Harrington company,
who have covered the spring wheat
country carefully say that the crop
killers have changed taeir field OF
operation from the southwest 10 the
northwest and that they are now re-
porting tremendous damage 20 the
wheat In the state OF South Dakota
by excessive rains. This well known
and reliable house says that they be-
heve the report sent broadcast has
been greatly exaggerated and that too
much faith should not be placed in
them They say further:
These reports are partially due 10
the fact that in some localities there
has been some damage by reason of
heavy rains. hail and high winds, but
the results have not been serious over
any large area, and the damage for
the most part was done by purely local
storms"
While wheat at Chicago was $50
1-4c higher for the July future Fri
day the more deferred months were
"a a 7-Sc lower. Under present con-
ditions surrounding the wheat mar
ket here the foregoin price
changes are no surprise to the trade.
The July future is held by one Of the
largest concerns in the market and
il is said there is a big short interest
which means that deliveries will have
TO be made or those who have sold
themselves into a hole viii be obliged
TO go into the pit and buy the futures.
The market ruled fairly steady during
all of Friday but on hard spots there
was more wheat Of the deferred
months for sale than the buying DOW
er cared to absorb. There was a lack
OF new buying orders and the market
closed rather slow under a volume of
business that was short of several
previous days. The spring wheat mar
kets are stronger than Chicago as they
held some of the advance made. The
price gains up there were on the rust
reports received and the buying was
largely on possible losses.
Commission houses were liberal
sellers OF corn and in addition TO this
there was great pressure at times
from local professionals. Resting
spots for the day were 5-8 a 1c lower
At these declines the market was un-
able to regain any OF the lost ground.
Cash transactions were small at 1885,
600 bushels. Offerings from the cOun-
try were small. but they were some
what larger than for several previous
days.
In the corn belt OF the west condi-
tfons we're reported as more favora-
bic, but in the Red river valley where
the acreage of corn has been in
creased there were some complications
because OF a lack Of cultivation.
Oats were quiet and prices showed
losses OF Is lac There were
claims In the northwest of red rust
The Illinois crop report showed a con-
dillon OF 81 against 90 per cent of
normal on May I.
Provisions were again higher at the
orsning but the strength failed to
hold There was a better demand for
dry salt meats on shipping account.
Lard and pork were helped some by
the action OF ribs but they both show
I'd an easy tone. Close:
WHEAT-July. 70 $50 12; Sept.
rs 5-S; Dec. 81 ID.
CORN-July. 81 IS: old. sc Is:
Sept. Ga 5-S: old, Ga 1-2; Dec, 81 SIS.
OATS-July, SO 1-2G5-S; Sept,
IS 1-S a IA; Dec. SO 1-205-S.
PORK-JuIy. S21.65; Sept. $2O.25.
IARD-July. $10.12 IL; Sept. So
q ID; Oct. S1O.35.
RIBS-July, S11.S0; Sept. SLIT 1-2
Oct. S11.45.