The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1897-08-15
GRAIN AND PRODUCE
SHORTS IN WHEAT GET ANOTHER
SHAKING UP.
September Wheat Advances rs Cents
From the Low Point, and Holds LIZ
to e 5-8 Cents Of the Gaio- Wheat
shortase In the Northwest and Rumors
81 Government to French Importers are
the Factors for the Acknowledgment
Der Closes at "a 81 Cents.

Der Closes at "a 81 Cents.
Chicago, Ills, Aug. 1.-THE shorts In
wheat had another shaking up today and
September advanced 27sc from the low
point ard retained an improvement of ga
7sc. Rumors that the French government
would remove the import duty on wheat,
and pred:ct of frost in the northwest,
caused the upturn. Very little cash busi-
ness was done and receipts were liberal.
Corn was helped By predictions of frost,
and gained 1zc. Oats were steady. Pro-
visions were steady to a share easier on
dull speculation. Pork lost &C. Ribs lost
21zc Lard closed unchanged.
Wheat opened firmer today than Z ruled
near the end Of yesterdays session, the
opening price for September being from
s14 to SEC, against S1la to sl5sc at the close
yesterday. 1t had spell of relapsing weak
ness that caused a temporary dip to size,
and that was followed by returning
strength that raised its price to S2llc An
other temporary depression was followed
by still more vigorous interval, and dur
ing the continuance of the latter, Septem-
Der rose 10 s3isc. The Liverpool marke,
was ed lower for September wheat and
unchanged for spot. Paris was iLc per
bushel higher. The most Influential. fac
tor was the bad reports that every one ap-
peared 10 be getting concerning the con-
diticn of spring wheat in the northwest.
It was reported that the French ministry
had authorized some change IN the duties
on wheat in the direction of reduction, or,
as some interpreted it, in the way of a
concession in favor of French millers In
some indefinite way. The lessening of the
import duty in France would enable the
grain dealers OF that country 10 flood their
own markets with foreign wheat, and the
demand would be chiefly directed TO Ameri
ca. AS the price of wheat at Paris was
quoted in the first dispatches at an ad-
vance Of nc per bushel 1t was fairly gooc
evidence that there was no knowledge in
Paris up to that time OF any change in the
rate of duty. As. however, later tele>
grams reported a decline there equal to
from 1c to 22sc per bushel. the rumor began
TO gain credence and prices were rushed
up with a will. The receipts at Chicago
were 219 cars. and the out inspection $3.50
bushels. The receipts here for the week
were 6SS $50 bushels and shipments $50.
i33 bushels. The days clearances of wheat
and flour from Atlantic ports were equal to
5l3 600 bushels. Beerbohm's estimated ship
ments to Europe from all countries for the
" eek are 100000 bushels. Argentine did
not export any wheat, against $500 BUSH |
els on the similar week of last year. The |
excitement continued until a few minutes f!
before the close, and September closed at
Si2sc, within &c of the highest price touch |
ed on the recent bulge. September opened |
1G5sc higher, al Sl7sQS2c, sold between |
Sligo and s43sc. closing at SAC.
Corn was firm, notwithstanding general |
rains throughout the corn belt The trade |
was not heavy until near the end of the |
session, when the strength Of the wheat |
market and rumors of frost in the north
west added to the fears of the shorts and |
encouraged the bulls TO show more agrees |
siveness. Receipts were 1852 cars. The |
days exports were $4,000 bushels, and for /
the week clearances were 3,275,652 bushels. |
Argentine shipped only 5000 bushels this |
week, against 1,424,OOo bushels the similar |
week a year ago. September opened I'M
changed 10 &c higher at from 213sc TO 2S1sc, |
and down to 2734c for a moment 1t rose |
steadily after that and reached 2slzc about /
five minutes from the end of the session, |
and was still bringing 2s9sa2s14c as the |
closing.
Oats were quiet throughout. Prices rul- |
I'd steady. Chicago received sos cars. The
export inquiry was rather moderate. Sep
.ember opened shade higher at 17ssc, sold |
at 17@sQ24c, and at 1712c. closing al 1850
sellers.
Speculation In provisions was extremely |
hull, although the cash trade assumed |
quite respectable proportions. September |
pork opened unchanged at $500. declined 10
&. 92Ia and closed at s7.e5. September lard
opened shade higher a &.4212 and closed |
1t $40 September ribs opened unchang-
ID at $3.50, sold at si.921s and closed at s4S7
4.
Estimated receipts Monday: Wheat. 80
,ars; corn, 1850 cars; oats, 725 cars: hogs,
% 900 head
NORTHWESTERNS SHORTAGE.
St Paul. Mimi Aug, 1.-THE Information
S obtained at the office of the chief grain
Inspector of Minneapolis that the wheat
.rop of the state and North and South Da-
1ota, would run 100000 bushels snort OF
expectations. The inspection department
Y hich two weeks ago thought the crop of |
he three states would be a. least 15o. oO0. 900
bushels, now place it ar lS5,0oo,oo0 bushels.