Wichita eagle. [volume] (Wichita, Kan.) 1886-1890, 1888-08-02
FINANCE AND COMMERCE.
MARKETS BY TELEGRAPH.
Chicago Grain and Produce.

CHICAGO, Aug. 1.-The excitement IN the
wheat market continues. and the move
ment of speculative values today was char
acterized by the widest of fluctuations 1t
has come to be a common occurrence for the
deal in changes to cover two cent range,
and interest in the deal at this point shows
no abatement. There was tremendously
heavy trading today, fully as large as that
of Monday and the market again changed
one cent On the down turn yesterday
the local crowd got short, and IN the rush
to cover this morning, prices advanced
sharply. Opening figures for the leading
futures being 115G14c above yesterdays
closing range. Later further advance of
sl@Ic was scored, and reactions, though
frequent were only natural. The feature
of the day was the contradictory news
from abroad. Public cables read: spot
wheat easy and Id lower; grain futures
easy with prices tending down
ward for wheat" Private cables
were in majority of cases extremely bull
ish in tone and as these were generally &C
companied by generous buying orders they
appeared to have by far the greater influ
ence. There were practically no deliveries
unusual thing. and one that helped the
sensational buying. New York parties
bought largely in this market today and
all surrounding markets were higher.
Prices for September wheat eased off half
cent from the highest touched during the
last hour, but there was net gaining for
the day in the leading futures of 11z@l1sc.
An export order for 10000 bushels of No
9 spring was filled here, and another &c.,,
OC0 bushel order could not be executed
at the limits named. A good
speculative business was transacted today
in corn and the feeling developed was quite
firm. There was good general buying all
day, while the offerings were exceedingly
limited. The market opened considerably
excited at IA &c advance over the closing
prices of yesterday and firm and advanced
1c reacted &c, and closed l1s@135c higher
than yesterday. Deliveries on August con-
tracts were next to nothing, showing that
shippers hold considerable corn, and this
together with the active demand for cash
created considerable strength. The quail
ty on ocean passage showed a moderate de-
crease. The more deferred deliveries were
in better demand and ranged higher
AZ OdiS IttllilS pI6hdilSu Will
prices showing &c advance for August
and 14@Ic Improvement for deferred
futures. There We're no deliv-
cries on August contracts. the
reason for this was said to be that stocks
consist mainly of old oats which are held
at IA premium over August or new oats
prices The arrivals today were also much
below the estimates of yesterday and the
up turn in wheat and corn was an impor-
tant factor in stimulating the demand
There WAS quite free covering by shorts.
The interest in provisions centered in
pork, which was active and stronger and /
prices advanced soc from opening |
prices, but receded &c and cl sed at a net
gain of 22l &C. Deliveries on August con-
tracts were light, being 1900 TO 1900
barrels. Outsiders sent in fair buying or
ders. Local shorts also bought literally. |
Offerings were not large and prices were
easily bid up.
he leading futures ranged as follows: