The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-09-03
CORN TIE BIG MARKET
Drouth Reported West, and
Firing In Illinois.
SEPTEMBER 3-8 LOWER
Wheat Market Weak - Oats
and Provisions Irregular
SEPTEMBER 3-8 LOWER

Chicago, Sept. Acorn was again the
big market on the board of trade today.
Fears of damage from the long contin-
ued dry weather drove September shorts
to cover and advanced the price of that
commodity 3-Sc. Other futures closed
unchanged. Wheat was weak for de-
ferred futures on expectations of large
receipts next week. Oats closed un-
changed to 1-sc higher and provisions
generally closed a trihe higher.
The tendency of wheat at the opening
was slightly downward. Foreign markets
were inclined toward a lower level, and
northwest receipts were much more lib
eral than a week ago. Minneapolis in ad-
dition wired that receipts by Tuesday.
the next session Of 'chcange, would prob
ably reach 1000. which added materially
to the bearishness of the situation,
though 1t did not have any effect at first.
A wild squirt took place In corn shortly
after the opening. The advance in that
grain was so rapid that for the time be-
ing II took wheat shorts of their feet
and sent prices UP about 1-2c for Sep
TENDER and about Csc for December.
While the influence of corn frmness
lasted, there was considerable activity in
wheat, but when realizing set in in the
coarser grain and prices began to ease
of. wheat readily followed The influ-
ence of the heavy expected northwest re-
ceipts then began TO be felt Heavy
shorts, who had held aloof from the mar
ket during the early squirt, came into the
market then and gradually pressed prices
downward. Tho selling of December was
much more marked than that Of Sep
TENDER and that option suffered more in
consequence. During che last hour of the
short Saturday session early buyers turn
ed sellers, but the demand was too light
to absorb offerings, and the market closed
weak and alta the bottom. The days
clearances Of wheat and flour from At
lantic ports equalled 81. 900 bushels. Min
neapolis and Duluth reported receipts Of
6Ss cars, against 229 last week and 81 a
year ago. Chicago receipts were lis cars,
2 of contract grade. Total primary re-
ceipts were put at $4,000 bushels, COM
pared with 100000 bushels a year ago.
shortly before the close, but only enough
to stop the decline. December opened
unchanged at n 1-2d71 5-Sc. It advanced
to II 7-sc, then declined to II 1-Sd7l lac,
closing at Il lie. September opened a
shade higher at 60 5-sd69 SIC. advancing
to 70 1-sc, and declined to 50 5-sc, where
1t closed.
The market for corn was active and
broad. Continued dry and hot weather
was reported from the west. and fear OF
consequent damage was strengthened by
reports of 'tfiring'' from parts of Illionis.
Shorts were heavy buyers. especially Of
December. and that option advanced
sharply, deferred futures following. At
the top there was a good deal OF realiz-
ing and late in the session prices eased
off, the advance in December being lost.
September. however. was strong to the
close. Larger receipts were predicted on
account of the September premium. Re
ce;pts today were 56S cars. There was a
good cash and shipping demand. De-
cember ranged from % ga to % LA
% 3-sc and closed unchanged at IS 3-4c.
September ranged from SIC to 81 Lie and
closed 2-Sc higher at 81 S-Sc.
Oats were strong and fairly active.
Shorts were good buyers of September
and It was evident the short interest in
that option is larger than expected. The
strength of corn had considerable influ-
ence on the market and the continued
excellent cash demand was alsa a fac
tor. There was some investment buying.
Receipts were AS cars. December ranged
from 10 7-sT2oc to % Lie, and closed 1-sc
higher at 2OG0 1-Sc.
Provisions were weak to start with. in
fuenced by reported yellow fever in New
Orleans. The decline in prices was In
significant. however. and later the mar
ket grew strong on heavy decreases in