The Washington herald., 1921-03-29
BLIZZARD IN West
DAMAGES WHEAT
Exchange Influenced by News
of Storms and Cold in .
Southwest.

CHICAGO. March 2s.-All the
grain markets had better tone
cspecially toward the last. There
were several drops in prices carrier
in the day, which were more than
recovered, the close being at around
the best of the day. with wheat up
IN 2Ac, corn a to sc. oats a TO
&c and barley lkc, while rye was
II to &c lower.
Freezing temperatures over the
Southwest with rain, snow and hall
over parts of Kansas. Oklahoma
and Nebraska are said &c have dam
aged the fruit crop. which was well
advanced. and injured wheat tha'
was jointed. A report from Dodge
City, Kan. said IS per cent OF the
iointed wheat had been frozen 10
the ground. Temperatures were
down to the freezing point in OKLA
homa, and message from Nln-
cannes. Ind, said that at Francisville
40 to 40 per. cent Of the wheat was
iointed and appa arently killed. While
ALL the traders did not take these
reports seriously they had re-
strainjng effect on selling toward
the latter part of the day and. COM
bined with the small visible stocks.
n noticeable change in sentiment
among many of the leading profes-
sionais was apparent.
Cash wheat at Chicago was down
TO March prices for red and hard
winters. At Minneapolis the choice
spring wheat was ic higher ano
Others unchanged, with -four sales
light. Exporters are finding DIM
Guilty in buying cash wheat ano
there is a healthy situation. sea-
board houses bought May and March
wheat here and reported l'5oo.ooo
bushels sold for export. despite the
fact that this is religious holiday
abroad. Although cash wheat Is at
March price. the March is Is to lfc
over the May and the July, in which
trade started today for the frst
time. is lie under May. Traders
assume that the discounts are too
great to make it safe to sell snort
on breaks
Trading in July wheat started at
H.22 to I.23 or higher than ex-
pected. The top price was Sl.2tls
and the close 1.26h to s1.2els. March
was bid up 4isc from the low point
owing to light offerings. and closed
at s1.57 to sl.57i.. while May ad-
vanced 3tc and close at I.43k to
s1.4311.
There was buying of wheat early
in expectation of big decrease in
the visible supply, which aggregat-
ed 3,o1S,eO0 bushels. against 1,171.o0o
bushels last .year. making the total
only 2o.761.Oo bushels, against 49,
SOC. 600, bushels last year. Chicago
stocks are 956.0oO bushels, an in
crease of 10000 bushels for the
week
May corn sold at new low levels
at 63kc, with a rally OF lie and
closed around the top at 641-6a
64Ac. Local traders were the best
sellers on. the bottom and buyers
around the top. There was infiu-
entail commission house buying at
S3lsa64c. Country offerings were
light and cash discounts on the
low grades 1sc under, with No. s
grades fsa11c under May. Cash
prices were unchanged to u lower,
with shipping sales $4,000 bushels.
Receipts were 50 cars.
Shorts were the buyers Of oats
and found selling pressure lighter,
which with the strength in other
grains created a more confident feel
ing. Light country offerings also
tended, in that direction. Cash
prices were unchanged to 12c lower,
with shipping sales $4,000 bushels.
Rye futures were easy with fair
offerings by Eastern holders. which
was partly offset by the strength
in wheat Cash lots were SIsc over
May, with &c over bid. track Bal
timere. The visible increased 1s7, 900
bushels.