The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1898-10-21
EVERYTHING GOES Up
December Wheat Boosted
2 is to | 3-8 Cents.
ANGl0-FRENCH WAR NEWS
And Export Engagements the
Cause--New York Excited.

Chicago. Oct. 2o-Rumors Of a forth
coming European war and enormous ex-
port engagements today caused decided
rally in wheat Prices. December closed
al gain Of 2i4qc7sc. Corn advanced q
to lc. Oats improved vase. Pork and
lard left off at an advance OF ] each
and ribs rose 7l1gloc
An old-fashioned European war scare
with all the trimmings, was the controu
ing influence in wheat at the opening.
Before business started here reports from
the other side were TO the effect that
grain markets were excited and I'D equal
TO 5G6Ac and English conSols z.aI5c low
er. In addition 10 that there were re-
ports from New York of enormous ex-
port engagements of wheat by Europe
Theme came lot OF supplementary news
OF similar encouraging nature from the
interior. Minneapolis told of sales of $780,
Coz barrels OF flour yesterday, of which
third was for export, and there were
advlces of eight inches OF snow in por-
TONS of the northwest which had been
relied upon 10 supply good portion of
the coming movement OF spring wheat
from first hands. An enormous business
was transacted here; for instance, one
firm that had bought calls Tuesday night
On fully 100000 bushels of wheat were
credited with having sold 100000 BUSH
els OF IL during the first hour The de-
mand was such that the grain was read
lily absorbed, and the price, after a light
dip on some profit-taking. advanced 10
higher figure than it had yet reached.
BY noon December, which had started
2d2Ac higher than Tuesdays close, at
657.GysS2o b.d aI
kept about 1c higher. Receipts here were
$50 cars and the total arrivals at pri-
mary markets for two days were 2.652,-
600 bushels. against 1904. 600 for one day a
year ago. Actual export clearings were
$4,000 bushels. The highest prices of the
day We're reached when December rose 10
6S12Q6Sssc. due TO the covering OF a large
line of wheat by a local SPECTATOR. AT
its conclusion the market sagged back
TO about the opening figure; December
closed at Csc. sellers.
The foreign situation was reflected in
corn, which started &t a sharp advance.
The cable acceptances were enormous
and there were sales from here 10 the
seaboard direct of 100 001 bushels The
incident active covering by shorts and
the heavy sales OF cash grain sent the
elevator people into the pit to buy fu-
lures. There was generous realizing Of
prohts later on long property, but the de-
mand was more than sufficient 10 absorb
the offerings and the advance was well
maintained. The wet weather was also
a builish influence early, but prediction
of a drop in the temperature tomorrow
fnally acted as an offset. Receipts were
992 cars. December opened 249ic higher
at 32}sq3224c. advanced TO 3254 Q327sc. and
declined TO 325sc, which was the selling
price at the close.
The speculative considerations which
moved the other grains was shared in by
oats. There was an excellent demand for
cash and prices ruled &c higher. The
rally was limited. however. by free real
ling of holders and by country selling.
The buying generally came from ship
pers against export sales. May began
Il to sc up at 24lsc TO 245sc. advanced TO
A2.c, and reacted TO 2ll2c at the close.
The bullish sentiment in provisions was
stimulated by the developments in the
general speculative situation in food sup
plies. Shorts were forced TO cover and
they secured most of the property from
firms with English and continental con-
nections. Packers sold literally on the
advance. which tended to check the up
ward tendency. January pork opened l5c
higher at 1875; declined to s927Iz. ad-
vanced to 81. 40. then reacted to s9321s at
the close. January lard began ~ 10 l0c
up, at S5.12l2lzG515, rose to $500. and
closed at Sl1z January ribs started
; TO &c higher at 81. 50: sold off TO $3.50.
then advanced 10 s4.s7l2. the closing fig
ure
Estimated receipts for tomorrow: Wheat
rs cars; corn, 400; oats. 30; hogs. $500
head.
EXCITEMENT AT NEW YORK.
New York Oct 20.-There was more &C
tivity in the wheat market today. The
sharp rise of Sd in price a bushel at Liv-
erpool, the recent continued heavy eN-
port business and the waT-like character
of the news from Paris andp London
over the dispute between England and
France combined I stimulate a revival
Of speculation. The market was ex-
cited here and &c higher al 75stc for De
cember and maintained the advance de-
spite liberal proft-taking sales and the
action Of western operators, continuing
their previous policy OF opposing the i'm
provement There was a big export bus
mess. despite the advance and the high
er freight rates asked. and over 10 car
loads. or 1.2o0.0 600 bushels. were taken here
and at the outpOrts up TO the close Some
houses said there were upward OF 20
loads taken. but exporters Were retCent
and not more than $4,000 could be con-
firmed As had been recently the case.
the demand was both from lae Cated
kingdom and thecon,lneut. THIS makes
the total export engagements - far for
the week equivalent 10 about f.I44 30
bushels against 500 COO bushels taken
last week This is the largest business
transacted in wheat for export for the
period since the great scramble - buy
here in 1891. when the Russian cop was
TO meet jhs- countTy's re-
and exports were prch.o tai
There was also bg export demand fer
corn and the foreigners took over o-e
million bushels here and a. he nu-p9r,s
for shipments. principally 70 the CONT
nent.
ST. LOUIS.
St Louis. Oct n-Wheat-Futurss
steady and unchanged for October and
December. with May &c up SPOT higher;
No red cash. elevator. &c. nominal:
track 1i44-9c; December. 7i7sc, May.
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