The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-08-17
GRAIN ANDPRODUCE
WHEAT KEEPS UP ITS GYMNASTICS
AT "A LIVELY RATE
Openings Are Above Saturdays Close and
the Desperation OF shorts Does the
Rest-Prices Soar for a Season, Hut Net
Results are Not Wide of the Opening
as In The mseIves to be Quite Remark
able-Transactions ut New York Nearly
Twelve Million Bushels Chicago Closes
at 50 1.2 and New York at 81 SIS Cents

Twelve Million Bushels Chicago Closes
at 50 LIZ and New York at 81 5.S Cents
Chicago, Aug Ian advance Of ga
cents was scored in September wheat in
change today. the market in that time
selling up 20 Sc 3-4 cents. The opening
was az from SIS TO So 1-2 and a few sales
were made az 81 rs, some hesitation be-
ing caused by the extremely large
worlds shipments and the heavy in
crease on passage. 1000, 900 bushels
Liverpool showed a l pence advance and
the temperature in the northwest was
dangerously near the frost line in many
localities London reported Paris still
buying cargoes. The market was ex-
tremely nervous and many OF the big
operators kept aloof, but, even at that,
trading was heavy. Short difference in
the opening caused September 10 bound
to So ga cents on large short buying, the
quickness with which the market re-
sponded 10 the buying revivins the talk
OF a September squeeze. Reaiizating
was heavy al the top price. and the
market slowly yielded until 81 IS cents
was reached, when another reaction to
Sc cents ensued. Northwest receipts
were 3i5 cars, against 1872 last week and
SO7 a week ago. The closing was: Au-
gust Sc cents; September So L.; Decem-
Der 81, old 50 So; May So IS.
New York. Aug. 16.-The wheat mar
ket developed pronounced activity and
strength today, breaking the best pre-
vious price FOR the season by 1-2 cents
= 5uzhel. All day the market was in
nervous, erratic condition, with quota
tons moving violently over range OF
about cents a 'bushel. Shorts were
completely demoralized by the scarcity
of offerings and abundance of bull news,
and their excited efforts to even UP vas
one OF the features OF the day. At times
realizing sales reached proportions suffi-
GENTLY large 10 break prices sharply, but
the markets inherent buoyancy caused
a prompt rally on each occasion, and
the close was very firm, although I'M
settled, at 21-s&2 3-S cents net ad-
vance Foreign houses added to the gen.
eral bull feeling on change. They
teen loads of guaranteed No , red were
for France. On top Of this demand was
a strong set OF English cables and de-
crease of ]. 426. 900 bushels in the English
visible. Opening Paris cables came
higher, but half-holday prevented any
later news being received. Many traders
connected the French demand today
with the reported lowering Of duty in
that country. Today September wheat
opened at 81 IA cents, agains; 50 IA
cents on Saturday. advanced to 90 ga
cents, then, easing off a little, closed at
81 SIS cents. Transactions were the
heaviest in many days, reaching II, $780,
600 bushels. Cash wheat was quoted at
from 50 Is cents TO Sc Is cents for No.
2 red, according to delivery, I. o. b.
afloat The total stock of wheat in New
York is 750,939 bushels, of which about
2S5 900 bushels IS contract. The strength
in other markets Of the country all had
a bearing on local prices, particularly
the Chicago advance.