The Wichita daily eagle., 1899-08-17
HRAF||REENA MARKETS
And Revival of Cash Demand
Advance Wheat.
FAMINE STILL THREATENS
In India-Coarse Grains Sup
ported by Wheat.
FAMINE STILL THREATENS

Chicago, Aug. B-Unexpectedly firm for
eisn markets today and indiea. IONS Of re-
vival in the cash demand advanced prices
for wheat 1-2I5-Sc. Co closed unchanged
to 1-se higher. Oats advanced lac, and
provisions closed irregular, SC lower to sc
higher.
Wheat opened firm at a small improve
ment over yesterdays prices, September
starting 1-4as-sc higher at 70 1-2a5-sc. Liv-
erpool was again the motive. As WIS
the case yesterday, the English market
ignored the action Of wheat here, and in
stead of following yesterdays decline,
showed a loss Of but Id early, and soon
recovered this. Considerable selling was
done late in yesterdays session on the be-
lief that Evrpool would be lower today,
and the firmness caused a mild scurrying
among shorts for cover. When this de-
mand had been satisfied, prices sagged.
The market was exceedingly dull during
the rest Of the morning. but stubbornly
resisted several attempts to raid prices,
and acted a good deal as If 1t had been
oversold. An explanation Of the firmness
Of foreign markets came in dispatches
from London to the effect that although
some rain had fallen in India, the pre-
cipitation was altogether insufficient to re-
lieve the drought, and famine was threat
ened in many districts. Western primary
receipts were again smaller than last year,
the total being put at 47s,0oo bushels, COM
pared with $4,000 year ago. Minneapolis
and Duluth receipts were 1S4 cars, against
~ last week, and 1A a year ago. Chi
cago receipts were 81 cars, eight OF con-
tract grade Atlantic port clearances
amounted to 10000 bushels. There were
indications Of a revival in the cash busi-
ness. Several bids for August delivery
were made, and though not much actual
cash business was reported. 1t stimulated
speculative buying. The export demand
continued light. the seaboard reporting but
II loads engaged for export Ocean frelghts
were easier. and this was expected to have
a favorable influence on the foreign de-
mand. In the afternoon the market be-
came much more active. New York and
this demand brought shorts into the mar
ket again and resulted in a steady ad-
vance in the September price from 20 LA
S-sc to 7d1-Sc. This was above call price,
and selling against those privileges, and
a moderate amount OF realizing, caused a
reaction to 20 3-4d7-Sc The close was firm
at that figure. December exhibited more
s~tranpth than GantAuohar Shouph kraStr~
in that future was comparatively small.
It advanced TO 73 1-2c, and c.osed 7-sc
higher at 20 1-463-Sc.
Corn was devoid OF speculative features,
and prices kept within a narrow range.
Crop conditions continued favorable, ard
some cutting OF corn was reported from
Kansas. but the strength of wheat pre-
vented any decline. Country offerings
were reported more liberal and the cash
demand was only fair. The seaboard re-
ported fifty loads for export. Receipts
were 2O6 cars. September ranged from
so 3-s to 5-Sc, and closed unchanged at
30 1-2c
Oats were firm with wheat and on the
better shipping demand, sales OF 100000
bushels being reported here. New oFrk
also reported 30 loads for export. The
speculative demand was dull almost to
stagnation but prices ruled slightly higher
all day. Receipts were 32s cars. Sep
tenber ranged 10 1-2GS-sc to 1e 3-4d7-Sc,
and closed lac higher at 10 3-4d7-Sc.
Provisions were dull and irYregular.
During the morning prices declined all
around on general liquidation. following
a sharp break in hog prices. pork being
especially weak. The shipping demand
was good, and this and the strength OF
wheat brought about a rally later in the
day. The close was firm for lard and
ribs but easy for pork. September pork
closed SC lower at $50; September lard.
2I2c higher at S.17 1-2. and September
ribs 2l-2d5c higher at s5.OoT5. .o2 l-2
Estimated receipts Thursday: Wheat,
70 cars; corn. 80; oats. 40: hogs. 900
head.
GRAIN AND PRODUCE Markets.
CHICAGO.