The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-08-24
STRONG Bull MARKET
Wheat Closes at Advances of
3-8 to "a Gent.
CASH DEMAND FOR CORN
Puts It Strong and Higher
Oats and Provisions Mixed.
CASH DEMAND FOR corn

Chicago. Aug. 2S.-wheat became q
strong bull market again today and closed
at advances OF 5-s19-4c for September and
S-sa1-2c for December. Rains in the
northwest, small receipts, strong cables
and a good cash demand caused extern
sive covering by shorts. Corn was strong
on the cash demand and closed 1-4d3-sc
higher. Oats closed shade higher for
September and May but a shade lower
for December. Provisions closed un-
changed to 10c higher.
Wheat openued strong at substantial adj
vances in both December and September,
the latter starting 1-4dS-Sc higher at
"a 1-Sd1-4.c and September Csc higher at
II 7-Sc. Bull news came in from all direc-
lions. Liverpool showed an advance of
I'D. The weather in the northwest was
again wet, with prospects of q continu-
ance Of the rains. and receipts, compared
with those Of last season, were conspicu-
ously small. The wet weather caused a
good deal of buying last week, and 1t had
the same effect today, as there was much
apprehension Of serious damage resulting.
The opening advance was stubbornly
fought for time, especially in December,
in which option a slight decline took place
soon after the opening, the prices easing
of TO 74d1-sc. But the news was too much
against the bear side Of the market, and
before IL O'Clock prices had scored a SUBJ
stantial advance, September advancing to
Il Lac and December to "A 1-2c. These
prices were above calls. and selling against
those privileges and a natural desire to
realize profits caused several soft spots in
the market. but no reaction of note oc-
CURED until late in the afternoon. Sep
tember in the meantime advanced to q 1-2
and December TO "a 3-+c. At those prices
the demand let up to some extent and
under a moderately heavy pressure to
realize a slow decline took place, Septem-
Der reacting to " 1-SG1-4c, and December
to "A 1-4d3-Sc. The close was steady at
those prices. The cash situation was a
leading factor in the strength of the spec
ulatvermarket. Nearly all the cash houses
reported better bids and one firm report
ed 5000 bushels SOLD direct to a foreign
market. The eeaboard also reported an
sixteen loads were worked for export.
Minneapolis and Duluth receipts were IT'S
cars against 1S4 last week and AS a year
ago. Chicago receipts were 81 cars, of
contract grade. Total primary receipts
were 5O5. 900 bushels, compared with 971 600
bushels a year ago. The northwest pre-
dicted small receipts for some time. At
lantic port clearancee of wheat and -four
amounted to $50 900 bushels.
Corn did not display much activity, but
was firm throughout. The strength of
wheat ha dsome influence, but the large
cash demand was the principal factor
small receipts and moderate country Of
ferings. Receipts were S93 cars. Shorts
were free buyers Of both September and
December. Crop bulletins were generally
favorable. September ranged from Bic to
81 S-sd1-2c, and closed 1-4d3-sc higher at
81 3-Sc
Little was done in oats. Elevator people
and receiving houses sold moderately, but
the cash demand was excellent, about 75c,-
600 bushels being reported. and this and
the firmness OF wheat sustained prices
early. The market. however followed the
late break in wheat and closed barely
steady. Receipts were 800 cars Shorts
bought September to some extent. Sep
TENDER ranged from 10 rs to 20 1-sc and
closed a shade higher at 2Oc December
closed a shade lower at 10 5-sG3-Ic.
Provisions were extremely dull. Hog
prices were lower. but there was a fair
outside demand for pork and ribs, which
resulted in advances in those products.
Most Of the business was in the futures.
At the close September pork was Z 1-2T
10c higher at s.. 9oa32 1-2; September lard
unchanged at $50, and September ribs
&c higher at sj.121-2
Estimated receipts Thursday: Wheat.
50 cars; corn, $50; oats, $50; hogs, 5000
head.
N