The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-10-19
DAMAGE N ARGENTINE
Reports Thereof Result in an
Advance in Wheat.
CORN GAINS IA TO 3-8
Oats a Quarter-Cent Up
Gains in Provisions.

Chicago, Oct Is.-Reports Of serious
| damage TO the wheat crop in Argentina
put the bears in full retreat today and
induced such general covering of the short
sales previously made that prices were
advanced Sharply. December closed lac
! higher. Corn gained 4 to sc. Oats are
up 40. Pork left OF 21zc higher; lard
and ribs sc.
An advance of l TO &c in wheat at Liv-
erpool over New York. the reported con-
centration OF large body Of Russian
troops accessible 70 Picking, in addition
| 10 reports from New York that there
were "A boat loads of wheat engaged for
export, stirred up the opening market for
wheat and made strong and lively affair
of il. The stormy weather in the west.
though IL had not apparently cut down
the wheat movement, as yet, was an ad-
oltlonaI influence. 1t soon developed. how
ever. that IN face of the influences peo-
pie here were selling through brokers
and commission houses. Then came a
denial Of the export business at the sea-
board and there were reports also that
the exporting firms were undeniably TAX
ing profits on long wheat. The actual ex-
port clearings were not UP to the usual
high total and the primary market re-
ceipts indicated that a big export bust
ness could be supplied and leave a sur
plus here besides. Though the bulls re-
enforced their earlier batteries by re-
ports of flour sales in the northwest and
told OF the snow storm in North Dakota
the trading was inclined to wait until
noon to see what the increase in the
visible would be. Meanwhile the early
sales caused a drifting down of the price
- nar 49, oh
Ell at 65q6524c. declined to 65c. Brad
streets report indicated an increase since
two weeks ago Of Abb 900 bushels in the
worlds visible supply, which was about
forty per cent of the amount expected,
and caused a recovery 70 652sc. Chicago
received 347 cars against 205 last year,
and Minneapolis and Duluth receipts were
1,4H car loads as compared with 1.7SS
for the corresponding day last week and
11S0 q year ago. The total primary re-
ceipts at the principal western markets
amounted to 1913 600 bushels. Reports Of
serious frost damage to wheat in Argen-
tina gave the market near the close quite
a little strength. There was a considera-
bic short interest and the shorts were
ia bher uneasy about standing out over the
Jubilee holiday tomorrow. Traders gener-
ally in the last few minutes bought wheat
with such freedom that December was
advanced to 65slc and closed at 655s d6524c
buyers.
The strength developed by corn at the
start was due largely to a sharp advance
at Liverpool. The storms also promised
to check the arrivals and gave the bulls
a chance TO operate with courage. There
was considerable professional buying at
the outset, but il was met with offer
ings by scattered holders and by brokers
and commission firms. who presumably
represented elevator interests. That, to-
gether with the decline in wheat caused
a reaction, and the early high points were
not fully maintained. The small receipts.
only 400 cars tomorrow, however. acted
as an offsetting influence. Receipts We're
935 cars. December began unchanged at
3lRa3l9sc; advanced TO 3i4q313sc, and
closed at 31sq31Ac, buyers.
There was quite large trade transact
ed in oats al higher prices. The demand
was urgent at the beginning, but later in
the day quite few of the early buyers
turned sellers and caused the market TO
lose nearly all of the advance. There was
an excellent cash demand. however. at
increased values. Receipts were 336 cars
May started sc up, at 2324 Q237sc. rose to
24c and reacted TO $3.50 and closed at 255s
G24c
Provisions opened firm IN sympathy
with grains despite an easier hog mar
ket at the yards and large receipts here /
and elsewhere When grain values react
ed 1t had some influence. Later in the
session, when grains began TO rally and
when it became known that there was a
large demand for cash ribs, there was a
recovery in the whole list. January pork
opened unchanged al S917A rose TO $3.50, {
sold off 20 50. 1917, then recovered 10 $3.50, !
the closing figure. The range in the lard /
and ribs was inconsequential-
Estimated receipts for tomorrow: I
Wheat, 10 cars; corn. $50; oats, 80; hogs, /
$4,000 head.
Holiday Wednesday. on account Of
peace jubilee parade.
NEW YORK
New York, oct. 1S-W-heat-Recelp /
e!3. SIS; exports, 30. 3S2. Spot steady; No. /
. red. 7$sc (. o. D.. afoat; options opened .
strong on cables, but lost part OF the ad- /
vance through Disappointing export de- /
Closed y 20 sc net advance /
Sales included No. red and May. ,0Nc.
Corn-Recei pts. III so: exports. 1910 .
SPOT frTn; No. z 3Sd5Si5c, (. .. D.. afoal- /
Options closed &c net higher: May closed .
oats-Reoelp,s. 1000; exports I7oeT7; I
spot steady; No. ., 2Sc. Options dull, .
nominal
ST. LOUIS.
scarce: creamery. a23l.o; dairy. l5Qoc- .
Egg@Ftrn; 13c.
WOOL MARKET.
Boston. Oct. 1S.-The condition Of the
wool markets here remains IN the same
unsa factory situation "a previously re-
ported. Ii is only the knowledge that F
goods cannot be replaced a. The same
prices that keeps prices strong Accord .
Ing 10 the views OF leading dealers. t1e
outlook s not bright and hey expect a
slow business for some -iue 20 come.
Texas woods. spring medium. = months.
lGT1sc: secured price. f2F43c: spring fine.
% months. l7QISc: secured price. 479iSc-
Territory woods. Montana fine medium
and fine. I+Gl7c. secured price, i1ESsc,
s.apie $685.; Utah. Wyoming. etc. ne
s.urn and fine. I4dlsc. secured price. 40
IS. STAPLE. soc Australian secured basis
combins. superflne. 79G73c. good. s5a5.o,
average, 62gS5c-