Wichita eagle. [volume] (Wichita, Kan.) 1886-1890, 1888-09-15
Chicago Grain and Produce.

CHICAGO, Sept. 1.-THE action in wheat
today wasA most unnatural one. Markets
elsewhere were weaker and the sentiment
bearish The cable news was of the sort
to make operators sell their long wheat.
There was great quantity of long wheat
and some short wheat was sold here, but
whenever the price got down to the open
ing figures there appeared to be a string to
it. Just when the crowd thought good
decline had set in the market would firm
up and react &c. The range for the greater
part of the session was but &c, but the
track was travelled over very often, espe-
cally just around Ole for December.
Whether the strength came from clever
manipulation, or whether it was uniform
change of sentiment in favor of buying on
the breaks, every time December got down
about 90$Ic it got a boost from somewhere,
sometimes stopping at 911sc, again at
BIG, and once reached 911zc, the outside
for the session. October sold at $685. @90c,
and May at 9519@9524c. Primary receipts
We're large and the grading at most points
fairly good. Wheat closed at ! o'clock,
about the pivotal point Of the day, at 9OB
@91c for December. May closed at Csc.
In corn a speculative trade was wit
messed in transactions, being on larger
scale than for some time. a lower range
of prices was established. The feeling
from the opening was Weak, owing to the
receipts being nearly 100 cars above expec-
tation and this feeling was intensified
when the estimates for tomorrow were
made known-125 cars. This was the main
cause for the weakness of the near futures
I. J<F. xI,1,,
active and weak on prospects of a large
yield now that the growing crop is pretty
generally reported out of danger of frost.
Operations We're on a large scale and the
market all day was the scene of activity.
Market opened at about the closing prices
of yesterday, sold off &c, reacted ~ then
gradually declined nc, reacted &c, but
again became weaker and closed with the
near futures 1@1Hc and more deferred
months 19@34c lower than yesterday.
Many operators who had been inclined to
favor this fear of late were reported as be-
ing liberal sellers, and this, together with
the offering of the local crowd created
weakness and considerable long property
was sold. Several operators who trade in
wheat were identified with the selling in
terest around the opening
Under the influence of weak corn mar
ket and the prospect of heavy receipts oats
were heavy and weak with decline of
1S@14c.
1t was another dull day in the provision
pit. The opening was rather weak and
little lower, the nervousness owing to
the scare of yellow fever being the prime
factor producing this effect. Mess pork
recovered q part of its losses, closing at l
O'Clock at s14. 2o@13.7714 for October and
January, or 7@l212c lower than last nights
close. Lard was strong most of the time
for October closing at 9.91114, while Janu-
ary lost 10c, closing at SS.0215.
At the afternoon session wheat was
active and strong, ranging between 901sc
and 81 &c for December. Corn was in fair
demand and prices steady. Oats were in
moderate request and firmer. Pork adj
vanced PIC for October but ruled IN
changed for later deliveries. Lard was
steady for October 215c lower for Novem-
Der and unchanged for later futures
The leading futures ranged as follows: