The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-08-04
BIG PRIMARY RECEIPTS
And Lack of Foreign Demand
Prove Mightier
THAN REPORTS OF DAMAGE
So That Wheat Declines
Everything Else Advances.
THAN REPORTS OF DAMAGE

Chicago, Aug. a-The influence Of large
primary receipts and lack Of foreign de-
mand proved mightier than the reports
OF crop damage in wheat today and caus-
ed decline Of 1-2d5-sc. Everything else
on the floor showed some degree Of
strength. corn and oats closing a shade
higher and provisions 5g12 1-2c higher.
Longs in wheat struck a snag at the
beginning of trading in the shape of low
er quotations from Liverpool. As the
local market showed a substantial rally
yesterday at least no weakness was look
| ed for in foreign markets, and the Liver
pool decline, slight though it was, re-
suited in an initial loss mere of about
Csc September started at So 1-2d5-Sc.
The absence Of foreign demand for Amer
lean wheat was again noticeable. but
after the first selling movement had
ceased this was lost sight of in the con-
tinued reports Of domestic crop damage,
which were so serious as TO cause the
market to rally to yesterdays closing
price. The damage was reported as being
particularly heavy in the Red river val
ley, and estimates placed the total area
affected as high as 10000 acres, with
probably $l,5OO,0oo worth of growing grain
destroyed. Later cables showed some
rally in foreign markets, and this also
encouraged fbuying Northwest receipts
were moderate, minneapolis and Duluth
reporting arrivals of 229 cars against 800
last week and n a year ago. Chicago
receipts were 81 cars, 10 OF contract
grade. The total OF primary receipts
however. was large. ZOO bushels COM
pared with $4,000 a year ago. Export
clearances from Atlantic ports were
large. 7O5.O00 bushels. Previous to this
announcement the market reacted from
zoe, which point was reached shortly af-
ter the opening. to 50 1-2a5-Sc, but the
liberal clearances caused a moderate
covering movement which again sent the
price up to about SO SAC. There were
many minor rallies and reactions but
during the afternoon the market gradu-
ally tended downward. The seaboard re-
ported little foreign demand. and this,
coupled with the continued large primary
receipts. apparently had a good deal OF
influence on longs, for considerable wheat
was put on the market. The market was
quite weak toward the close, September
declining to SO 1-4d3-ec, and closing at
So 3-sc. Near the close Minneapolis wired
that new spring wheat was offered to ar
rive there in two weeks.
Corn in the main was fairly active and
firm. Reports of damage by hot weather
in Kansas. firm cables and light receipts
caused a good rally early, shorts cover
ing freely. Clearances were larie and
the cash demand good. The late weak
ness in wheat affected corn. and most Of
the advance as lost, but the market
closed steady. Receipts were 34s cars.
September ranged from so Csc TO SIC, and
closed a shade higher. at 80 1-2c. Re-
ceivers were the principal sellers.
The market for oats was dull and I'M
Prices were Influenced al
most entirely by other grains and the
range of prices was narrow. Changing
from September to May was a feature,
May weakening slightly under the selling.
while September and December were a |
shade higher. The country was fair |
seller. Shippers were buyers. Receipts |
were AT cars. September ranged from |
10 1-4G3 Sc to 10 5-Sc, and closed shade |
higher. at 70 3-sG1-2c.
The Improved yellow FEVER SITUATION
caused a better feeling in provisions and
the market was strong and fairly active |
throughout. Opening at slight advance, |
a good rally followed on liberal buying |
by shorts. The close was strong at or |
near the best prices There were indica- |
lions of renewed outside interest. Sep |
tember pork closed 70 1-2c higher. at |
ss.42 1-2: September lard sal 1-2c higher. |
at 1922 1-2G525. and September ribs 1-2 |
G1Oc higher. at SOP 1-2G5.s.
Estibated receipts Friday: Wheat, $50 |
cars: corn. 500 cars; oats, $50 cars, hogs, |
Il, 900 head.