The sun. [volume] (New York [N.Y.]) 1833-1916, 1897-07-16
GOES G YET.
WE HAVE LOTS TO SELL AND NANT
CUSTOMERS WANT n.

r,v,--bsr Optien worth 10 Cents = pushea
more Than It was . Wear Ago-hrgonefnns
ns well ne Nations That Have Usuaily
Bouuht or Her. Must Csuse - Us This Year.
There was another jump In the price Of wheat
yesterday. September wheat, in which the
trading was heaviest, closed on Wednesday Al
7o1f. Yesterday morning It opened at 73M.
The lowest point reached all day was 7SM.
About noon there was another ADVANCE and
whom "a was reported as the closing price there
was cheering in the Produce Exchange. It's
a long time since September wheat sold ~ ~
In July.
There was not 80 much trading In July wheat
but the market was very streng. July closed
on Wednesday night at 7sN. The opening
price yesterday morning was 79A. The high
eat and closing price Of the day was 30. There
were many bids sent out from here on Wednos-
day night and last night to wheat dealers In
ali parts Of the country for July wheat, to DO
delivered Immediately. Three hundred bids
were sent out on Wednesday night and 500
more last night by one firm alone, as high as
78ASSbeing offered for immediate delivery. Nota
hid had been accepted up to B o'clock yesterday
afternoon. 1t is reported that o number Of
spectators here have sold July wheat short,
and unless they can make purchases soon, arc
likely to be pinched.
the wheat market, as indicated by Produce Elk.
change figures, are tho reports of purchases
yesterday Of American wheat by foreign c9un,
began making inquiries about our wheat weeks
ago. Now. however, comes the news; alm9st
Unprecedented, that the Argentine Republic,
one of the great wheat-growing States OF, tho
world, must this year become 2 buyer OF our
wheat, owing to the liRh.ness OF its own crop.
Yesterday an inquiry reached here for $4,000
bushels from Arsentina. II was laid that this
wheat was wanted for sowing. but this exp'ana-
ton was secuted by old operators, as IL is
gether too early to buy seed for sowing there.
Fresh orders for our wheat have been sent to
San Francisco from Australia, which has euf-
fered this year from a prolonged drought, 1ol'
lowing a poor harvest last year; Several car
goes have already, been shipped 70 Australia
wheat in Australia Is practically nothing, ana
there will be no harvest there until January:
Besides this, Brazil has come into the United
States market as a buyer. Shipments OF
pome years ago. but for the past few years have
Brazil this year are reported to have been Tor
the account Of millers in Rio de Janeiro, who
About 10000 bushels have thus far been
shipped to Brazil. and inquiries for moro were
reported yesterday. i.
Ali this Is most gratifying news for the wheat
when they have been paid for their wheat crops
this year they will have more money than they
have seen for many a day, Whilethe indication5
aresnow for an unusually. large crop OF wheat all
over the United States. the price Is higher than
It has been since 1891. The Government est.
mate Of this years crop in the United States 10
about 400, 600, 900 bushels. This Is about 49,.
O0O,O 600 bushels more than were produced last
year. Nevertheless tho price quoted At the clos
bushel higher than the price Of the correspond.
ing day a year ago. Those facts should make
interesting reading for the calamity howlefd.