The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-08-03

SMALLER WHEAT CROP
Than Last Years Estimated,
and a Foreign Rally
STOP WHEATS DECLINE
Coarse Grains Also Strong
Provisions Advance.

Chicago. Aug. "A rally in foreign mar
kets, and estimates of a smaller wheat
crop than a year ago, stopped the de-
cline in wheat today. and sent prices to
point 81 q 7-sc above yesterdays close.
Coarse grains were also strong, corn clos
ing S-sc higher and oats $3.50 higher.
Provisions advanced IL q SC.
Wheat was firm at the opening, al
though interest In the market showed but
little interest Damaging hail and rain
storms were reported all over the north
west, the erea affected being placed as
high as 10000 acreas. while complaints Of
drought also came to some section of the
wheat belt. Northwest receipts continued
= to fall OF, and the proportion Of new
wheat arri~0s was much smaller than
a year ago. Minneapolis and Duluth re-
ported q cars. against Ss5 last week and
IS a year ago. Chicago receipts were 11s
cars, IL Of contract grade. or the local
receipts A cars were new wheat. A year
ago they were about 100. Liverpool also
showed some advance, due to unfavorable
weather in England and parts of the con-
| tinent. September opened IA a Csc high
| er at SO 3-S q 50 1-2c, with some demand
from shorts. The market eased on short
| ly afterwards to 50 ia a So 3-sc, but Boon
became strong again under a continued
moderate demand, advancing to So 1-2 a
| So 5sc. Reported absence Of cash demand
| caused prices to waver for a time, every
little advance bringing out long wheat
and encouraging short selling. The large
clearances from Atlantic ports, caused
considerable skepticism as TO the entire
truth of the reported absence Of export
demand, and shorts became heavy buyers.
| Closing cables were higher. A famine was
| said to be iminent in India on account
! Of the absence Of the usual monsoon
rains. The market became active and adj
vanced steadily to the close. feature
| of the news was the estimate Of a crop
| export putting the spring wheat yield at
23s, 100000 bushels, or 5000. 900 bushels less
than previous estimates. The European
shortage, compared with previous crops,
was also put at $50 900 bushels. Total
| primary receipts were put at $4,000 bush
els September advanced to roc and clos
ed firm at So 10 q roc.
Corn was strong and closed at top
prices. The weather was favorable, and
primary receipts were 80 per cent larger
than last year but clearances were large
| and the cash demand was good. The
seaboard reported 210 loads taken yester-
| day. Local receipts were light, S26 cars,
and the advance in freight rates was ex-
pected to result in a still further reduc-
| ton. Shorts took the new crop futures
| freely on complaints OF hot weather from
| Kansas September ranged from 80 to 80
1-2 and closed Csc higher at 30 3-s q %
1-2c.
Oats were firm and higher on a small
amount of trading. There was a fair cash
demand at higher prices and the seaboard
reported moderate export sales. There was
considerable changing from September to
MAY at rs a &c spread. Receipts were
2a5 cars. September ranged 1sc to lS 3-s
a 70 1-2c. and closed Csc higher at 10 Csc
Provisions were fairly active and irregu-
| lar The market after a steady opening
broke sharply on rumors Of further out
breaks of yellow fever. The reports were
| denied and later the market steadied with
| gain, but they did not show much
| strength at any time Demand for lard
was good. but slow for meats. At the
close September pork was 1-2c higher al
$3.50: September lard 1-2c higher at So
q 70 and September ribs sc higher al
As5.
Estimated receipts Thursday: Wheat 2
cars: corn 40 cars; oats 900 cars; hogs p
900 head.
GRAIN AND PSD OUO3 Market
| AGO