The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-06-29
DAMAGE NEARER H|)RE
Northwestern News Good For
a Slight Advance in Wheat.
HEAVY RECEIPTS OF CORN
Cause a DecIine-0atS and
Provisions Higher.

Chicago. III, June 2s-Domestie crop
damage reports became the dominant fac
tor in the wheat market today. but trade
was small and the market closed at an ad-
vance Of only &c. Corn declined 3sdL4c IN
der heavy receipts; oats advanced 1sc on
bUllish foreign advices and provisions ad-
vanced 2l1a7ls with the advance in hogs.
Conditions at the opening in wheat IA
vored higher prices. Liverpool showed a
liberal response to yesterdays advance
here. opening ss92sd higher and maintain
ing most of its advance. Continental mar
kets were also higher. A ecidedly bullish
feature was the falling on in northwestern
receipts, Minneapolis and Duluth reporting
arrivals Of 4s1 cars, compared with 7l3 last
week and 81 a year ago. Chicago receipt s
wee l52 cars q or contract grade. This
was in Inc with the predictions made b.
the northwest yesterday and influenced
the market enough to keep prices on the
up grade for about half an hour after the
opening. Then the weakness AT st. Louis,
which was thought 20 be due to expecta-
lions Of large receipts OF new wheat in
the near future ard favorably weekly crop
reports, started moderate selling move
ment which carried prices consera bly, be-
low the opening point. and gave the old
familiar appearance of weakness TO things
In general Sc em5er opened at "a. q
Iifsc. compared with yesterdays closing
price of 7i2sc. l. advanced 10 745sG743tc.
then gradually slid off until 74hc had been
reached. At this point the market took
another turn, and until within about half
an hour Of the close, though extremely
quiet was strong. st. Louis weakness was
said to be due entirely to local elevator
difficulties, and not 10 fear OF heavy new
wheat receipts he chief element OF
strength came from the part Of the coun-
try which has been responsible for most Of
the weakness Of late. the west and north
west Crop advioes from all sections Of the
spring wheat country told of damage from
rust and from wet weather followed by
the heat Of last Sunday he illinois Central
state reort estimated 81 er cent OF the
GRO lost and the condition Of the rest only
IS er cent The natural inclination of the
market TO rallw was enhanced by these
reports Covering by shorts and investmen.
buying continued until September had ad-
vanced 10 aga &c. when a realizing move
ment set in, which continued to the close
and which cut away q good part of the
advance. Aggregate primary receipts were
$4,000 bushels, against 5000 bushels
year ago. Atlastic port exports were 26s.-
Ooa bushels. The seaboard reported 80 loads
R,l-1 a.
steady at 74isc. Corn was dull and reavy.
The market started steady with wheat,
but the liberal receipts. $40 cars, favorable
crop conditions and heavy estimated re-
ceipts tomorrow started an amount Of
liLU'daticn that the market ccu'd no
stand under Clearances were light and
the cash demand poor. September ranged
from 3iitdA7.c 10 34ssc asd closed la1Ac
lower, at sac.
Oats were exceptionally duh. but firm
Crop bulletins reported damage from
drought in eastern states and too much
moisture in the west. Foreign adyices
were also hulish. There was some July
demand from the shorts. Receipts were
2iS cars. September ranged from 212.c TO
2l7sa22c and closed sc higher. at 2l& q
2i7sc
Provisions. though dull. were strong.
Hog prices Were higher, and this. with the
strength of wheat and the good shipping
domasd. kept prices firm and and a little
higher. Trading consisted mostly OF
changing from July 10 September. At the
c:ose September pork was 5dT'2c higher, at
S. i2i Ass: September lard higher. al
5.22ie. and September ribs. 2i4G5c higher,
at 4s0d4 Sois.
Estimated Teceints Thursday: Wheat.
125 cars; corn. lG6O: oats. go; hogs. 5000
head.