The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-08-10
Day IOG|)VER
September Wheat According
Iy Advances t-2a5-8 Cent.
NEWS GENERALLY BULLISH
Coarse Grains Also Strong
Provisions Close Lower.
NEWS GENERALLY BULLISH

Chicago, Aug. s-This was q day Of COW
ering by shorts in wheat. and the result
was an advance Of Ia q 5-Sc IN septen-
Der and almost as much In the distant
features. Strong cables. disappointing
threshing returns. and expectation Of q
builish government report were factors
Coarse grains were also strong, corn and
oats each advancing about Csc. Provts-
ions lost an early advance and closed 2
IL q 1Oc lower.
Aided by an entirely unlocked for adj
vance Of IA q s-sd at Liverpool and by
some bullish domestic nAws, wheat start
ed strong at an advance OF about lac,
September at 50 81 @ s. 7-sc. During the
first hour there was considerable buying
by outsiders through commission houses.
and covering by local shorts. September
advanced steadily to So CSC before the
turning point was reached. Besides the
strength AT Liverpool, buyers hal to help
them small northwest receipts. Minneapo-
lis and Duluth reporting but ~ cars,
against 81 last week and IS a year ago.
A good many reports came IN from the
northwest, of heavy rains retarding The
ripening of wheat and harvesting opera
ton. Some complaints Of unsatisfactory
threshlng returns were received The cash
demand showed signs OF improvement
bids for hard winter being 1-2o better
than yesterday in some cases. There was
the usual amount Of realizing on the adj
vance and a reaction during the morning
carried the price back to IS 7-sc, but dur
ing the afternoon the market again be-
came strong, and most of the original ad-
vance was recovered. Shows crop report
estimated a drop Of about per cent IN
the government report tomorrow on the
condition OF spring wheat. This would
suggest crop OF about $4,000, 900 bushels.
Shorts covered quite generally and the
market showed considerable strength. To-
tai primary receipts were $4,000 bushels.
Atlantic port clearances Of wheat and
-four aggregated $4,000 bushels. Chicago
receipts were 14s cars. % Of contract grade
September advanced to SO IA a 6s Sc
shortly before the close. but reacted on
profit taking to s. T-sc.
Corn was strong and quite active Sym
pathy with wheat was a factor but the
main reason for the strength shown was
the continued excellent cash and shipping
demand and the small country offerings.
Receipts were light 2ss cars. Competi-
ton was sharp for the little corn offer
ings. Shorts covered freely and a good
advance was scored. September ranged
from 30 rs to 81 3-sc, and closed IS high
er at 81 1-Sc.
There was an improved trade IN oats.
and the market was strong from the
start There was some suggestion Of Sep
ternber manipulation and this and the
small stocks and good shipping demand
caused free covering by shorts. The SELL
ing was in the way Of realizing and by
scalping longs. Receipts were pa cars.
September ranged from 70 SIS a 10 SAC
to 20 1-sc and closed S-sc higher at 10 rs
a 2Oc.
Provisions were cratic The markets
opened steady and unchanged from Tues
days decline caused a good advance dur
ing the morning, but there was gen
eral selling movement on the rally ard
during the afternoon, prices tended stead
lily downward. Packers were free sellers.
The cash demand for meats wac poor. At
the close September pork was 1-2 a 1Oc
lower at ss3 q ST 1-2: September lard
I IL lower at $50 a 2 1-2 and Septem-
Der ribs shade lower at 500 a soc IL
Estimated receipts for Thursday: Wheat
* cars; corn $40: oats IS; hogs 2. 900
head.