The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-06-22
GENT AND A QUARTER
July Wheat Closes Over Wed
nesday's Close.
AT SO TO 03 ga CENTS
Corn Lower; Oats Higher;
Provisions Little Changed.

Chicago, June 1.-Wheat opened nerv-
ously, July at SEC TO 50 3-4c, and rush
Of buying orders sent the market in a
few minutes 20 81 lie. This was the high
mark for the day and of the recent phe-
nomenal rise The gloomy situation in
the northwest was practically unchanged.
Liverpool showed good response 10 tire
rally yesterday. The northwest was
heavily buyer and despite realizing sales
on a large scale the market hung around
the top for some time. The big advance
at Minneapolis was also an encourage
ment. The break there later In the day
was also largely the influence which
caused a decline from the top here. An
enormous trade was done around top
figures, but shortly before noon the de-
mand showed signs OF having beet salts
fed and the pressure of long wheat made
itself felt, July breaking to SIC. The de-
cline was punctuated by irregular rallies
but the tendency for the rest of the ses-
sion was, in the main, toward a lower
level At SIC renewed buying sent July
up to 81 5-8c, and shortly afterward the
market closed nervously and lac over
yesterday, at So 3-Sc. Atlantic port clear
noes Of -four and wheat were equal to
23s.000 bushels. Primary receipts were
$4,000 bushels, compared with 9i2,0 900
bushels the corresponding day last year.
Minneapolis and Duluth reported 314 cars
against 4SS last week and 535 a year ago.
Local receipts were 123 cars, 81 of con-
tailed by the advance in futures New
York reported eight carloads taken for
export.
Corn was active and. aroused by the
bulhsh enthusiasm in wheat at one time
showed liberal advance. Country offer
ings were liberal. When wheat broke,
corn followed. post haste, and closed at
the bottom. July sold between ~ 3-S and
40 7-Sc, closing Lac under yesterday, at
40 7-sc. Receipts here were 675 cars.
The oats market was active and excit-
ed most of the session. But on wheat's
strength and damage claims from the
northwest the market advanced 2 cents
jumping up in 1-2c leaps. The decline in
WHEAT, however, caused a reaction, but
+hs close was firm at a substantial ad-
sold to &c. declined to "a lac, and closed
Csc up at "a lie. Receipts here were 2S4
cars.
Provisions were dull and irregular. The
market opened firm in sympathy with
wheat but quickly broke away from that
cereals saving grace and the result was
a decline which carried away nearly all
the opening advance. July pork sold be-
tween s11.67 1-2 and s1155. and closed
21-2c higher, at sl157 IL; July lard be-
tween 1918 and 1857 1-2. closing unchang-
ed at s667 1-2. and July ribs between
s6.T 1-2 and $3.50, and $3.50, with the
close 1-2c up at s6.75.
Estimated receipts tomorrow: Wheat,
100 cars; corn. $50 cars; oats, 245 cars;
hogs. $4,000 head.
New York. June 2L--Wheat bulls were
in a jnbilant mood today over the FUR
Their advance of practically cents a
bushel. making about II cents rise since
the bull movement was started about
fortnight ago. Scenes in the pit at to-
days openings were of the widest de-
scription. with traders fairly dazzled by
prospects OF huge profits on the bull side
and clamoring for wheat by shorts and
those who wanted it for investment pur-
poses being alike frantic in their efforts
to get the staple at as reasonable a fg-
ure as possible The short interest was
scattered and mostly among professional
operators, while the buyers for long &C
count came principally from outside
sources. In addition to spring wheat
crop news. which today was extraJrdin-
arily bullish, the entire European cable
information was exceedingly strong. Scr
the first time this month. Speculative
transactions up to midday reached about
100000 or 10000 bushels. July wheat
opened at 81 1-2c and sold up before Uoon
to 50 1-sc. In the afternoon the market
fell off some points from the highest.
on heavy realizing. The close was m
settled at rs and / lac net advance from
the previous day.