The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-08-19
ON BIG GASB DEMAND
Another Good Advance Is
Scored in Wheat.
CORN AND OATS HIGHER
Provisions Strong With Adj
vances All Around.

Chicago, Aug. 1a-The speculative wheat
market again rose today on big cash de-
mand. An advance Of $50 was scored in
September and 1-sc In December. Corn
closed irregular, 1-49S-sc higher for Sep
TENDER. but barely steady for deferred fu-
tues. Oats closed shade higher. Pro-
visions advanced 21-295c.
Liverpool, always an influence on local
wheat trade. showed an opening decline Of
la. which was unlocked for after yester-
days advance here and had the result of
depressing prices about lac at the OPEN
ing, September starting at n 1-s61-.c. The
selling pressure, however, came almost
entirely from small SPECTATORS and was
of local nature. 1t was not heavy enough
TO long depress prices, and soon after the
opening the market began to rise and for
the remainder Of the session showed con-
siderable firmness. Reports Of a big cash
business done yesterday, iDdustriously de-
MED by the bear crowd were confirmed
today and the influence OF the cash de-
mand was augmented by further heavy
bids-today. The actual amount Of bust
ness done give out their transactions I'M
til freight, rates had been secured. but
rumors or large quantities worked were so
thick that they had a market effect on
speculation. Heavy rains were reported
in the northwest, and apprehension Of
wheat spelling and being otherwise DAM
aged increased the demand. Another and
more bullish feature OF the northwest news
was the continued disappointing threshing
reports, which strengthened the belief that
recent crop estimates were too large.
Commission houses had numerous bids
from the east, based on foreign demand.
but the actual article was hard to get,
elevator people refusing 20 let go. The
cash business late in the day was put at
$50 900, but it is questionable If this amount
was worked. st. Louis and local shorts
bought heavily at times and this bulled the
market, bringing the smaller fry to cover.
Professional longs with belief in still
higher prices also took considerable wheat
September advanced to re, well above
calls. and a good deal Of realizing was
done at around that price, resulting in a
reaction to II 5-SG3-4c. Minneapolis and
Duluth receipts were 212 cars. against 115
last week and 81 year ago. Chicago re-
ceipts were 81 cars, OF contract grade.
Total primary receipts were $1,000 bush
els. against $4,000 bushels last year. The
fact that primary receipts are now daily
under last years was no small factor in
the strength. Atlantic port clearances OF
wheat and flour amounted to $4,000 bush
els. Northwest stocks will probably de-
crease 100000 bushels, and a decrease in
the worlds visible was looked for. The
demand for September was much greater
than for the more deferred futures and
December and May in consequence showed
but little advance. September closed firm
at n 5-S93-4o
Corn was firm for September. but steady
for later months. and dull for all It
was mostly a scalpers' market. The
strength of September was ,due TO the
small receipts strength of wheat and the
good cash and export demand. Receipts
were leS cars September ranged from
80 5-SdS-4c to 31c and closed 1-4a3-4c higher
at 31c.
Oats showed more actively than usual.
The market In It's essential features was
a counterpart OF corn. firm for September
but barely steady for May. There was an
excellent cash demand and this and the
strength of wheat supported September.
There was considerable selling at top fig-
ures Receipts were SO7 cars. September
ranged from 10 ga to zoe and closed shade
higher at 10 7-SG2Oc.
Provisions were strong. with a some
what broader market. prices advancing all
around. A good consumptive demand was
reported by packers, and this was the
basis of the speculative strength. Lack Of
offerings was a feature. AZ the close Sep
tember pork was SC higher at sS.s2 1-2:
September lard 21-2c higher at $50 1-2:
September ribs 21-2c higher at s. log
5.121-2
Estimated receipts Saturday: Wheat,
50 cars; corn, 80; oats, SIS; hogs, Il, 900
head.
GRAIN AND PRODUCE MARKETS.
CHICAGO.