The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-08-20
BIG BULGE N CORN
And a Substantial Gain In
September Wheat
DUE TO SHORTS COVERING
Oats Firm With Corn-Pro-
visions Steady But Dull.

Chicago, Aug. fs.-Advances Of 1-sc in
September corn and 3-467-sc in Septem-
trading on the board of trade. In corn
small receipts and large shipments drove
aging rains in the northwest and strong
foreign markets had a similar effect.
Oats advanced 1-4@3-sc for September.
and provisions closed unchanged to 1S2c
higher.
Wheat opened strong at an improve
ment Of 5-Sc over yesterdays latest
prices. The advance had substantial
backing. Foreign markets showed such
advances, Liverpool being I'D 3-Sd5-sc and
London 1-2d3-4d. Advices in regard to the
Russian and Eoumanian crops were
gloomy and probably had considerable to
do with the advances at LIVERPOOL and
London. Domestic receipts was even
more bullish in tone than the foreign ad-
vices. Heavy and continued rains were
reported all over the northwest wheat
fields and many complaints of damage
shown by corn was also notable enough
to affect shorts in wheat. During the
first hour Of the short sessions trading
the market was quite active. September
opened y 1-+T72 Csc and even at that
price there was not much wheat offered
Shorts were active bidders for everything
offered, and the price got to q s-SQ72 lie
before realizing was sufficient to satisfy
the demand. A short reaction to Y Lac
followed but the market quickly recover
ed and in the span Of the next half-hour
touched ~ 5-sc. The market then quieted
down somewhat. There was a good deal
Of selling against locals during the latter
part of the, session. and one or two slight
reactions resulted therefrom, but the
market had too much substantial support
to admit of a material decline, and short
ly before the close Y 5-Sc was again
touched. Primary receipts were again
much less than last year, the total being
5S7, 900 bushels. against $4,000 bushels a
year ago. Minneapolis and Duluth re-
ceipts were 232 cars, against 22S last week
and 435 a year ago. Chicago receipts were
lis cars, "A Of contract grade. Clearances,
however. were small. 115.OOO bushels. For
eign bids for wheata were heavy but as a
rule out of line and not much cash bust
ness was done. Liberal world shipments
were looked for and some selling was
done on the apprehension that they
would unfavorably affect the Liverpool
market Monday. A decrease Of about a
million bushels in the visible was looked
for, September reacted to u 1-2c and
closed firm at that price.
Trading was marked by great activity
and strength in September. Continued
small receipts. heavy shipments and de-
creasing stocks alarmed the large short
interest in the option and resulted in a
rush for cover which advanced the price
materially. Deferred futures advanced a
little in sympathy. Receipts were 2SS cars.
Sticks here this week will decrease about
100000 bushels. The seaboard in two
days has sold 1,50o,O 600 bushels for export.
Country offerings were small. September
ranged from 81 3-S to 81 Lac, and closed
1-Sc higher at 50 1-Sc.
Oats were firm. with corn. September
showing the most strength. The advance
was in spite OF large receipts. sos cars.
ers, and shorts covered to some extent.
The cash demand was moderately good.
September ranged from 2Oc to 20 lac, and
closed 1-4d3-Sc higher at 20 lac.
Provisions were steady but very dull.
business being mostly changing over. The
cash demand for meats was fairS and
this and the strength Of grain resulted in
a slight advance for most commodities.
There was little covering of sales early
in the week. At the close September pork
was unchanged at 1882 IL; September
lard 1-2c higher at $ Is and September
ribs a shade higher at s. IL 1-2.
Estimated receipts for Monday: Wheat,
14G cars; corn, 800 cars; oats, sos cars;
hogs, 5000 head.
GRAIN AND PRODUCE Markets.