The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-08-26
CORN Is MOST ACTIVE
Rumored September Squeeze
Raises It t-2 Cent
WHEAT TENDING LOWER
Provisions IrreguIar--Flaxseed
Boom Continues.

Chicago, Aug. 25-Corn was the mos
active market on Change today. Rumor:
Of squeeze In the September option
alarmed shorts and advanced the price
1-2c. Wheat was slow and irregular. with
trading mostly professional and with sen.
timent favoring lower prices. September
closed a shade lower and December 1-4C
lower. Oats closed a shade higher and
provisions 1-2c lower to SC higher Flax
seed was again in good demand and ad.
vanced about &c for cash.
At the opening and for a short time
after, wheat was Influenced by the
strength Of corn. Shorts were having q
big scramble in that pit and their Gag
erness to get under cover had some effect
on shorts in wheat. Longs were out OF
the market for the time being the prices
advanced for both September and Decem-
Der. December opened unchanged at z;
rs, and advanced to 74a "A Is. septem-
Der opened a shade higher at II Sigh
rs. and advanced to Y. The demand was
small. however, and news in general IA
voring the bears. a selling movement set
in at the advance, which was almost en-
tirely professional at first but which fin
ally brought outside longs to the market
and induced a good deal OF liquidation,
resulting in a material decline in prices
all around. The market became extreme
ly dull and after II O'Clock prices kept
within comparatively narraw range. but
with sentiment favoring the selling side.
and rallies were invariably followed by
fresh attacks by the bears. Both domes-
tic and foreign crop news was favorable.
Shows crop summary placed the crop
OF Minnesota and the Dakotas at about
900 spring wheat and other reports
Indicated a better condition of crops in
the northwest than has been stated. The
Roumanian crop was also said to be far
better than previously reported. The cash
situation, however. continued good, and
this was supporting factor to the mar
ket. The seaboard put the export en-
gagements at Il loads, and the cash de-
mand locally was also good Primary
receipts were much below last years, the
total being $4,000 bushels, compared with
$4,000 year ago. Minneapolis and Du-
luth receipts were 2O9 cars, against z12
last week and 5l1 a year ago.
Chicago receipts were IS cars, of con-
tract grade. Atlantic port clearances of
wheat and flour were placed at $4,000
bushels. The visible supply was not ex-
pected to show much change. An in
crease was looked for previous to the
amount of an expected decrease Of about
$4,000 bushels at Minneapolis and Du-
luth. The market was diligently ham
mered by the bears during the last hour,
but better support materialized and afetr
September had declined to Il 3-S and De-
cember to 70 1-2, the market became
steadier. September reacted to Il 5-sd71
S-4 and December to % SIS. These were
the closing figures.
There was a big trade in corn, espec-
Tally in September. Rumors were cur
rent OF squeeze in that option, and
judging from the anxiety of shorts to
cover, had some foundations. Leading
commission houses were heavy buyers.
The excellent cash demand and moderate
receipts strengthened the situation. Dis
tant features were firm with September.
Duh hOl uOIu hecelDtS
were 517 cars September got over calls.
which increased the demand for a time.
There was considerable releasing late in
the session and best prices did not hold.
September ranged from S2d32 s-S and
closed S-9G1-2 higher at 32a32 Is De-
cember closed unchanged at 80 5-sGS2 "a.
Oats In the main followed corn. The
covering movement in September corn
caused like action In September oats, and
that feature was firm end higher The
good cash demand continued. with 1OO.-
600 bushels taken for shipment Receipts
were $50 cars. September ranged from p
1-4d20 1-2 and closed a shade higher at
20 1-4q20 3-S; December closed a shade
higher at 10 rs
Provisions were slower and practically
featureless. The general tone was steady
but business was too small to cause ma
terial change In prices. Packers bought
spaingly Of September ribs and lard and
reported a good jobbing trade Selling
was mostly from the outside. At the
close September pork was I-2c lower
at $50; September lard unchanged at
IS p 1-2 and September ribs &c higher Al
SGD
Estimated receipts Saturday: Wheat "a
cars; con go; oats $50; hogs 1900 haed.