The Wichita daily eagle., 1895-05-23


Chicago, May 22.-Wheat rushed III
35s cents today and closed with tn,
full advance at 71k cents for July
Crop damage reports furnished the mo-
tive power and country buyers did
the rest. July corn closed q cen
higher; July oats, e cent higher and
| provisions a advances
Reports of crop damage were the
whole thing in wheat again today
The reports of damage were more
numerous than any previous day and
came from Missouri. Illinois, Indiana
Ohio, and even from Kentucky, which
had not previously Joined in the cry
i The worst reports came from Indiana
| and Illinois. Kansas Is not counted in
the above, as its crop had been given
| its Quietus a month ago, when it was
taken for granted that 10000 900 bush
| els or SO would about represent what
is expected Of it. Under the influence
OF such reports the market opened al
| from l41a cents to 1885 cents for July
Of from Is to ia cents per bushel higher
than it closed yesterday. 1t sold of
again to 74$s cents. but the commits
| sion houses were all loaded with coun-
/
| break the dispatches to buy ten,
twenty and one hundred thousand bush
els seemed to multiply and there was no
! resting price up to u o'clock. about
| which time BradStreet'S report came in
| and the price was II cents. The cable
| grams from Liverpool came strong and
! l pence higher at the opening and an
| other / pence up, with active demand
| at the advance reported at the close.
! fke> MI ha1t
market; its advance was only ID CEN
| times for June wheat and unchanged
| for the later deliveries Berlin was
! quoted ia marks higher, due. it was
| said, to reports of damage to the Ger
man crop. Argentine millers were re-
| ported as stating that no more whea
should be exported from their ports. as
/ there would not be sufficient for their
home milling If shipments We're con-
tinued any longer. The northwestern
receipts at Minneapolis and Duluth
were l7S cars against 191 a year ago.
The only disappointing item in today s
news was that the total exports from
the Atlantic seaboard comprises alto
sether only 502 bushels of wheat ard
25,50O barrels of flour. \ large cash
business was done in wheat here both
for shipment to the seaboard and to
interior millerS in the west. The total
quantity reported up 70 the close of the
session was about $50, 600 bushels. OF
that quantity $4,000 bushels was to a
miller in Muskegon, Mich. $4,000 bush
els for Toledo: A.. Goo TO Kansas City.
and the remainder goes by lake and
canal TO the seaboard. There was a re-
port of 100000 bushels worked for ex-
port at New York, but dispatch from
there, received near the enod of the
session, read: "Can hear of nothing
doing for export in either wheat or
corn" The market here was very ac-
tive throughout and July closed with
buyers at 77A cents.
The corn market was inclined TO he
weak. 1t could not resist the insisent-
ly advancing tendancy of the wheat
market however and advanced ] CT per
bushel over yesterdays closing price.
resting with a gain. The receipts day
by day are too heavy to permit of buo
ydncy in the corn market with such
light shipping demands as is reported.
The receipts today were 44S cars. YES
sells We're chartered today for 80, 900
bushels. July opened at SAY cents re-
acted to 541s cents. advanced to 54aa
cents under the encouragement Of ad
vancing wheat, dropped back to 54h
cents, rose to SO cents and closed at
54& cents.
Oats were active and higher at the
close. Commission houses bought free
~ Oh IuTInuE reports OI crop u3NfdgP
and their orders were quite readily
filled by the crowd. The influence of
wheat and corn was also very effective
in creating higher prices. Shorts were
scrambling after stuff and longs dis
posed of some of their holdings. The
situation of the market remained just
the same as for the last few days. only
ffuctua tons covered a wider range.
July sold from 29ss TO 80 cents, rest
ing at 297s 630 cents.
Hog receipts were $4,000 head. 1000
more than estimated. The liberal
receipts predisposed the local traders
10 the selling side but they were re-
strained by the extreme bullishness of
wheat. Owing TO the latter influence
the scalpers took the buying side after
little hesitation at the start, but the
total Of the business done was light.
An advance followed on account of the
irresistible influence of the advance in
wheat. After advances of S2iE cents in
pork, from to 7ia cents in lard. and
from 12iA to l. cents in ribs. the clos
ing. prices were at some reaction from
top prices and left net gains for the
day as follows: Pork ~ cents; lard 2lA
cents; ribs ~ cents.
Estimated receipts for Thursday are
Wheat 66 cars; corn 575 cars; oats 375
cars; hogs 30, goo head.