New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-07-25
A SHARP RISE IN WHEAT.
INDICATIONS OF A SHORT CROP.
THE GRAIN GOES Up NEARLY CENTS a BrsHEl
IN THIS MARKET AND CENTS IN CHICAGO
SURPRISINGLY LIGHT RECEIPTS
AT INTERIOR POINT

IN THIS MARKET AND 5 CENTS IN CHICAGO
SURPRISINGLY LIGHT RECEIPTS
AT INTERIOR POINTS.
Wheat nrices on the New-York Produce Exchange
Yesterday advanced 37s044 cents bushel under eX-
cited covering by frightened shorts. September
opened at 72a, against 1as at Tuesdays close ana
closed at 1874. which was the highest Tor Inc u"S
There was small food of bullish news. lncIudhs
talk Of damage TO spring wheat in the Northwest by
smut rust and lodging; hot wave in the same as
trict; higher foreign markets: weaker consols ana
talk of European complications OF a warAke chai-
acter
The main reason for the advance. however was
the exceedingly small receipts of wheat at interior
points as compared with last year. The movement
of the new winter wheat crop has begun, but so faf
Tho arrivals OF new wheat have been extremely hght.
At Chicago yesterday the arrivals OF wheat were
only twenty -one carloads. Of which only eigh'esh
cara were new wheat. and only one car graded con-
tract A year ago. the corresponding date the
arrivals were 3s7 cars. of which Ss were new wheat
and s1S graded contract.
Other points reported very light recel pts. Al To-
ledo where the price OF wheat Is cents over 'hl-
cavo there only seven cars OF new wheat re-
ceiyed Yesterday So. Louis receipts were small
The same story light receipts has come from these
points for days. and traders take them as ndicat-
ing that not only is the winter wheat crop snort
but that the crop will be almost completely ao-
sorbel oy interior milers and by interior consuinp-
ton and that only small fraction VIII reach 'he
general market.
sample dispatch received on the Exchange came
from Topeka. and said that the Kansas State NIL
.ers' Association vii, import 100000 bushels OF
wheat from other States to keep the mills running
Russian hard wheat will also be imported for SEED
The big advance In wheat was communicates, 70
IN only a very moderate degree, corn prices
showing an advance for the day Of aspi2 cent Corn
crop prospects so far have been good and unless
late damage comes an enormous crop is predlcted
Oats prices advanced itaSs cent. W.T.. ,o-uno
Sale far ne day
bushels: corn 1900 bushels oats. 5000 bushels
Chicago. July 24-Excitement OF intense and
Increasing kind prevailed in the wheat pit on the
Board OF Trade to-day In the midst OF the unex
pected and sensational furry Mhea; went soaring
from 6si2 Cents for September to 72i2 cents. This
was an advance of cents over the closing prices
yesterday. and the bulls in high feather. The
advance was caused by higher prices abroad and
a remarkable falling off in the receipts at winter
wheat receiving points The decreased receipts
OF the last few days presented the first practical
evidence Of the short crop and every wanted to
buy wheat. Then the price jumped the high mark
being reached early in the session. The closing hg
72i4 cents, there being only a slight re-
action from the top notch OF the day. The big bulls
buyers all along the line and the price moved
up almost without break until the high mark was
reached. Among the steady traders who are on
credited WITH euytrg large line AZ inc lmpor
,ani grain ens eenes Of the Gonn hdDeT
boost the price AS 70 the continuance OF the rise
opinions Of traders differ
Indiana polls July "a (SpeciaD.-The estima ties for
the wheat crop in this State placed at
100000 bushels by Frederick p Rush grain
dealer OF this city, and probably the man best
qualified OF any in the State give opinion
his-wii be but - per cent OF crop. the average
crop being 10000 bushels Last year the Govern
ment crop report gave the yield at 100000 bush
els, but Mr.. Rush thinks 1t was e0cocoD State
Statistician Thompson thinks the yield will reach
100000 bushels.