The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-09-23
BIG GAINS N WHAT
September Up 2 Cents and
December | IL.
HEAVY SELLING PRESSURE
Relieved Export Demand
Coarse Grains Higher.

Chicago, Sept. 22.-Today's wheat mar
ket showed the effect Of yesterdays fail
ure of a leading bear firm. Belief from
the heavy selling pressure from that
! source was big factor in the advance
of 1-2c which marked the close in De-
cember. September closed cents high
er. Higher cables and big export de-
mand were influential in the advance.
Corn was strong on big export demand
and closed S-SG3-4c higher. Oats ad-
vanced 3-Sq5-Sc and provisions lie low
er to lie higher
Wheat opened firm at shade over
yesterdays closing price for December,
and though there were periods of reac-
ton the general tendency Of the market
was upward 10 the close. At the start
business was rather slow, but with buy
ers in the majority. Liverpool was up
3-Sql-2d, partly on the good spot demand
at that market, and partly on the criti-
cal state OF affairs in the Transvaal
Primary receipts were large but clear
ances were also heavy, and in the early
hours of the session a good export bust
ness was indicated. The main feature
Of the strength, however, was the elinin-
alton of the heavy selling pressure re-
Gently put on the market by the firm
whose suspension was announced yester-
day, Barrett & Farnum. a good deal Of
inherent strength was suggested by the
great amount of wheat the market had
al
material decline, and it impressed specu-
lators to a considerable degree Good
buying was done by the local crowd, but
outside support was also prominent, St.
Louis being a big buyer. The strength
shown by the coarse grains also made
its influence felt on wheat later in the
session. Trading gradually broadened,
and during the afternoon was quite &C
tive. with prices steadily advancing. One
OF the largest export houses in New
York reported more general acceptances
of offers of wheat to foreign points than
at any time since the Letter deal. Most
Of the statistical news was bearish, but
it had little effect on the market Ar
gentine shipments were large. 1852, 900
bushels. Total primary receipts were /
OS2,O0O bushels, compared with 1853 900
bushels year ago. December opened at
al isaac. 1t sold at Il 3-4Tn 7-Sc i'm
mediately after the opening, then ad-
vanced steadily to 73c and closed firm
and 1q1 1-Sc higher at p 7-S673c. AL
most nothing was done in September
Offerings were light and but few bids
were necessary to advance the price &c.
/ closed a AZ
more flour sold this week than has been
sold recently in month. This had some
effect on the closing strength.
There was big speculat tive trade in
corn. Brokers were all well supplied
with buying orders and prices advanced
sharply, with December in the lead. The
cash demand was large, with foreigners
accepting literally for shipment of the
new crop. The wet weather was expected
to restrict country movement, and stocks
Of old corn were reported low. Receipts
were 7S5 cars. December ranged from
% 1-4G29 Csc TO 80 1-Sc, and closed 9-4c
higher at 80 1-Sc.
Oats followed the lead Of other grains |
Receipts were 2S5 cars. December rang
ed from % 1-2c to p 3-4c, and closed SIC
higher at % Sac.
Provisions were rather dull but steady. |
The market was helped by the strength |
of grain markets and a sharp advance
in meat prices averaged little higher !
Engis hhouses sold lard moderately. At
the close January pork was 1-2c higher /
at $40; January lard I-2c lower at
1852 II. and January ribs a shade high /
lar at sos
Estimated receipts Saturday: Wheat
135 cars; corn, so; oats, 325; hogs. 1900
head.