The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1895-06-09
GOOD ENDING MADE
WHEAT GOES FROM QUITE WEAK
VERY STRONG.
Crop Damage Reports Still in Evidence, and
the Closing Price is the Highest Of the
Season, at Eighty-One and Three
Fourths Cents-Car!oad of New Wheat
from Kansas Arrives in St Lous--Good
Eastern Inquiry for Cash Wheat--Corn
Led by Wheat--Qats and Provisions
Higher.

Chicago, Jun 8.-Wheat turned from
quite weak early in the session today
to very strong at the close, on further
crop damage reports. After declining
! cent per bushel under its highest
value made in the first half hour, it
rose cents and closed at S174 cents
for July, which is liz cents rise since
The close yesterday and is the highest
closing price so far this season. Corn
oats and provisions sympathized with
the strength in wheat. Oats are l cent
higher while corn only gained IL cents
and pork. lard and RIDES are but modest
ly advanced.
Although the first sales of wheat
were at from 1sQ3s cent per bushel
over the price at the close yesterday
the opening was comparatively tame.
There were no new features in the sur
roundinFs of the market. The wealth
err WAS stiil dry in the wheat area and
wet in the spring wheat region. The
chief item Of early news comprised the
publication Of the state crop reports
Of Michigan and Illinois, and the par
t:cularS OF the weeks movement. the
Michigan report gave average condl-
ton for the state at % per cent, or
month. The Illinois report gave the
average for the state at CO per cent, as
compared with % per cent on May !.
These reports. bad as was the state OF
affairs they indicated, were not quiet
as Dad as the imaginations OF some Of
the Specui2 tors had pictured the con-
ditions ard consequently their effect
was bcarish rather than bClliSh. The
Argentine shipments were smaller for
the week, according to a private Liver
pool cablegTam. but that also as a
piece Of news fell fat in consequence
&C having been expected. The week s
shipments of wheat and -four as pub
!isned by Bradstreet's amounted from
both coasts to 1881 600 bushels, S04 600
bushels Of which was from the Pacific
side The total for the week before was
1852 0G0 bushels and on the correspond
ing week Of last year, 2.742, 600 bushels.
The aggregate decrease Of wheat and
-four in the United States and Canada
for May as given by the Daily Trade
Bulletin was -, $4,000 bushels and de-
Quoting an increase of 1000. 600 bushels
in Europe and afloat the net amount Of
the worlds decrease for May was 49,
353. 000 bushels. The market acted
rather heavy for an hour or more. Par
bridge took a hand in the market and
around SOS cents for July he began to
feed the bulls with short wheat. The
price gradually but surely declined to
S014 cents and after hanging between
that and S015 cents for time it slued
off TO 1917 cents The decline was help
ed by advices from st. Louis of the ar
rivel there OF a; car load of new wheat
from Kansas and other kilograms re-
ferring to threshing returns from the
state which mentioned II bushels per
acre from field of 400 acres. But
there was an excellent inquiry for cash
wheat 100000 bushels being taken to go
&c Toledo. Two carloads were sold for
Pittsburg also and other places which
seldom buy direct from Chicago. Then
came rumors of hot winds in California
having damaged crops from Is to 90 per
cent, the Modern Miller estimate of 60
per cent Of an average crop of winter
wheat and last and most unkindly cut
of all, the chinch bugs in the spring
wheat. It was a mere rumor, but it ere
ated comotion in the minds of the
traders while the price was en- route
from S134 cents for July, which it
reached and where it closed.
The corn market had no independent
action of its own. It declined when
wheat was weak and advanced when
II regained strength. Crop prospects
were good as ever, but the receipts
are giving no signs of increasing. The
inspection into stores today was 2SS
=
S4S. 900 bushels. July opened at from
623s cents 10 521b cents. advanced to 50
q cents, reacted to 523s cents, then
once more advanced until it reached
531s cents, the closing price being 527s
cents as against 525s cents yesterday.
For Saturday. business in oats was
very active. Further reports Of crop
damage making the condition much
more unfavorable than it has been.
created some anxiety among shorts.
ard there was free buying. Trading
was heavy and principally general.
The provision market was firmer and
recovered the light loss of the day be-
fore. Hogs receipts Were 10000, max
ing the weeks run 172, eco against III
Coo year ago. The run for next week
is not expected to exceed 600 head
Compared with yesterdays closing
prices, pork is from 10 to 12h cents
higher. lard 2la cents higher and ribs
up cents.
Estimated receipts for Monday:
Wheat. 40 cars; corn, 225 cars; oats, 200
cars; hogs, 10000 head.
Chicago Market